Core Viewpoint - The article discusses the recent trends in the Chinese passenger car market's intelligence index, highlighting a slight decline in the overall intelligence index and its components, while emphasizing the long-term growth potential of the market driven by technological advancements and consumer acceptance [2][10]. Summary by Sections Intelligent Vehicle Index - The passenger car intelligence index for April 2025 is reported at 31.9, with sub-indices for intelligent cockpit at 34.4, intelligent driving at 34.5, and external intelligence at 17.0 [2][6][10]. Recent Trends - The intelligent vehicle index has shown a slight decline in April 2025, breaking a continuous upward trend observed earlier in the year. This decline is attributed to the market's response to the government's vehicle replacement policy, which initially stimulated growth but led to a significant drop in sales in April [10]. Sales Performance - In April 2025, the retail sales of passenger cars reached 1.755 million units, marking a year-on-year increase of 14.5% but a month-on-month decrease of 9.4%. The new energy vehicle (NEV) segment saw retail sales of 905,000 units, reflecting a year-on-year growth of 33.9% but a month-on-month decline of 8.7% [10]. Impact of Key Players - The decline in the intelligent vehicle index was notably influenced by a significant drop in sales of two main models from Tesla, which affected the overall market performance despite the NEV segment's relatively better performance [10]. Future Outlook - Despite the April decline, the article anticipates a rebound in the intelligence index in May 2025, driven by the launch of new NEV models around the Shanghai Auto Show. The long-term outlook remains positive, with expectations of substantial growth potential in the intelligent vehicle market as technology evolves and consumer acceptance increases [10]. Index Composition and Calculation - The intelligent vehicle index is composed of one primary index and three secondary indices, reflecting the market performance of vehicles meeting specific intelligent criteria. The calculation method involves the market share of vehicles meeting any of the criteria for the secondary indices [12][13]. Weighting Factors - The weighting factors for the indices are set at 47.5% for intelligent cockpit, 37.5% for intelligent driving, and 15.0% for external intelligence, reflecting their respective impacts on the industry [15][16][17].

导 语：产销快报显示，今年1-3月份赛力斯销量分别为22430辆、21329辆、24609辆，同比分 别大跌45.82%、39.43%、34.43%。 据赛力斯集团股份有限公司在港交所递交的招股书内容，其上市计划已迈出关键一步。赛力斯始创 于 1986 年，是一家以新能源汽车为核心业务的技术科技型企业，目前也是 A 股上市公司。其业务 覆盖新能源汽车及核心三电等产品的研发、制造、销售及服务。 在市场定位上，赛力斯主要针对中高端市场，通过与华为的深度合作，推出了问界系列车型，如问 界 M5、M7、M9 等，覆盖了 SUV 和 MPV 等细分领域，凭借豪华内饰、卓越性能和智能化驾驶体 验，赢得了众多消费者的青睐。 基于鸿蒙操作系统研发的智能网联技术，为用户带来了便捷、舒适的交互体验。此外，赛力斯还应 用了万吨级超级智能压铸单元，提升了生产效率与车身强度。 从财务数据来看，赛力斯在过去几年呈现出显著的增长态势。根据招股书，2024 年其营业收入同比 增长了 50%，净利润达到历史新高。新能源汽车业务作为核心收入来源，占比达 93.33%，毛利率 为 26.21%。 这一增长得益于其产品矩阵的丰富以及市场份额的逐步扩 ...

近年来中国汽车产品的国际竞争力明显增强，出口量已达世界第一，根据中国汽车工业协会的统 计，2024年共出口595万辆。分析其原因，包括新能源汽车发展领先世界，智能网联技术蓬勃发展等技 术因素。 但是笔者认为，疫情三年，为中国品牌汽车国际竞争力的显现提供了重要契机。 一、从2021年起，中国汽车出口量快速增长。 根据统计，中国汽车整车出口，从2007年到2019年，一直在50万至100万间缓慢增长，2019年达到 122万辆。2020年为108万辆，2021年突破200万，2022年突破300万，2024年突破500万，去年接近600 万。明显可以看出疫情以来，中国汽车整车产品出口增长持续强劲。从另一个角度看，中国汽车整车出 口增长，并不是新能源汽车带动。多数年份新能源汽车出口占比低于内销的比例。 因此可以得出结 论，中国汽车整车出口连续大幅增长，并不是某一项和几项新技术带动而成，而是整体品牌竞争力提 高，成本有了明显的优势。 二、首要原因，是中国制造美誉度提高，中国产品的性能、质量得到世界主要市场的认可。 疫情初起， 在世界范围内供应链出现多处危机，而 中国制造大显神威。一是 中国 采取严格的防控 措施，生产 ...