作者 | 第一财经 肖逸思 近日，欧洲汽车制造商协会（ACEA）发布了2025年8月的销量数据。数据显示，今年8月，欧盟、欧 洲自由贸易联盟及英国地区新能源汽车增长明显，其中插混汽车同比增幅达到54.5%，实现了连续第 六个月增长，纯电动汽车销量增长30.2%。 2025.09. 27 本文字数：956，阅读时长大约2分钟 欧洲新能源汽车的增长与中国车企的加速进入息息相关。从欧洲车市销量排名前18的汽车集团看，今 年前8个月，累计销量第一的还是大众集团，但是累计销量同比增幅最大的是比亚迪。 比亚迪今年前8个月在欧洲卖了近9.6万辆汽车，同比增幅达到280%，销量排名已经超过捷豹路虎、 本田和三菱。 咨询公司Rho Motion的报告显示，比亚迪今年3月在欧盟销售的电动汽车中，插电混动车型占比已经 达到了41%，而上汽集团高达49%。奇瑞在欧盟市场虽然销售体量较小，但其插电混动车型销量已超 过纯电车型，3月在欧盟销售的电动汽车中，插电混动车型占比高达71%。 比亚迪欧洲官网显示，目前其在售插混车型为SEAL U DM-i（海豹U DM-i）。在前不久的2025慕尼 黑车展上，比亚迪又推出了旗下第二款插混车型—— ...

"自主品牌B级轿车已经卷到了8万元价格区间，这在以前是不敢想的。"日前，上海比亚迪一位汽车销 售人员向《每日经济新闻》记者表示，当前，细分市场竞争已十分激烈。 如上述比亚迪销售人员所言，B级轿车市场迎来新一轮"价格战"。 日前，荣威M7 DMH上市，以8.58万至10.28万元的限时价，以及中大型轿车的尺寸，开启了对10万元级 插混轿车市场的进攻。在这一细分市场中，比亚迪秦L以及银河A7等对手同样虎视眈眈，两款车型的终 端市场起售价也聚焦在8万元区间。 业内有"得B级车者得天下"的说法。这场B级轿车市场的激烈角逐，不仅关乎车企在该细分领域的市场 份额，更预示着自主品牌在与合资品牌的竞争中，凭借价格、技术与智能化配置等优势，正不断抢占高 地，重塑市场格局。 B级插混轿车"三国杀" 比亚迪秦L和银河A7，这两款车型正是B级插混轿车市场中的"香饽饽"。前者官方售价区间为9.98万至 15.38万元，月销量在1.6万至2万辆之间。 懂车帝数据显示，比亚迪秦L常年与自家兄弟车型——秦PLUS DM占据插混轿车细分市场前两名的位 置。 银河A7官方售价区间为8.98万至12.58万元，今年8月上市后月销量就达到了1.2万 ...

Core Insights - The B-class sedan market is experiencing a price war, with domestic brands aggressively competing in the 80,000 to 100,000 yuan price range, previously dominated by joint ventures [1][2] - The launch of the Roewe M7 DMH at a price of 85,800 to 102,800 yuan marks a significant entry into the mid-sized hybrid sedan market, challenging competitors like BYD Qin L and Galaxy A7 [1][2] - Domestic brands are increasingly capturing market share from joint ventures in the B-class hybrid sedan segment, with models like BYD Qin L and Galaxy A7 leading sales [4][6] Group 1: Market Dynamics - The B-class hybrid market is characterized by intense competition, with Roewe M7 DMH's pre-sale orders exceeding 10,000 in its first week, indicating strong market interest [2][4] - BYD Qin L and Galaxy A7 are positioned as key competitors, with monthly sales fluctuating between 16,000 to 20,000 units for Qin L and 12,000 units for Galaxy A7 [2][4] - The market is shifting towards domestic brands, which are leveraging pricing, technology, and intelligent features to gain an edge over joint venture brands [1][6] Group 2: Industry Trends - The hybrid sedan segment has seen rapid growth, with sales increasing from 9,925 units in July 2022 to 124,000 units in July 2023, capturing 12.6% of the overall market [8] - Despite a recent slowdown in growth, with a reported 8% decline in August sales, the long-term outlook for hybrid vehicles remains positive [8][9] - The export of plug-in hybrid vehicles has surged, with a year-on-year increase of 165% in the first half of the year, indicating a new growth engine for the segment [9][10]

"自主品牌B级轿车已经卷到了8万元价格区间，这在以前是不敢想的。"日前，上海比亚迪一位汽车销 售人员向《每日经济新闻》记者表示，当前细分市场的竞争已十分激烈。 "这款车充分体现了我们关心的是用户希望要什么产品，有什么样的追求。荣威全新M7 DMH要让消费 者用十万元级的价格，购买到二十万元级B级车的体验。"上汽乘用车常务副总经理俞经民接受《每日 如该销售人员所言，B级轿车市场正迎来新一轮的"价格战"。 日前，荣威M7 DMH上市，以8.58万至10.28万元的限时价以及中大型轿车的尺寸，开启了对10万元级插 混轿车市场的进攻。而这一细分市场中，比亚迪秦L以及银河A7等对手同样虎视眈眈，两款车型的终端 市场起售价也聚焦在8万元这一价格区间。 得B级车者得天下。这场轿车市场的激烈角逐，不仅关乎车企在该细分领域的市场份额，更预示着自主 品牌在与合资品牌的竞争中，凭借价格、技术与智能化配置等优势，正不断抢占高地，重塑市场格局。 B级插混市场开启"三国杀" 对于荣威M7 DMH的进攻，"对手们"未坐以待毙。 "临近十一假期，我们也有优惠活动。比亚迪秦L 2025款DM-i智驾版80KM领先型官方售价是9.98万元， 现 ...

Core Viewpoint - The launch of the Lynk & Co 10EM-P, a new addition to the Lynk sedan family, features all-wheel drive across the entire lineup and aims to capture market interest with competitive pricing and promotional offers [1][3]. Pricing and Promotions - The launch price of the 10EM-P ranges from 173,800 to 211,800 yuan, with a purchase incentive of 10,000 yuan off [3]. - Special promotional offers include two years of interest-free financing and complimentary advanced driver assistance features [3][4]. - Additional limited-time benefits include cash discounts, optional packages, and a trade-in program for existing Lynk owners [4]. Customer Interest and Feedback - An average of two customer groups visits the dealership daily to view the 10EM-P, accounting for 20% of total foot traffic [8]. - Initial customer feedback has been positive regarding the vehicle's design, although some expressed concerns about pricing and a preference for an electric version [8]. - The order locking rate reached 80% shortly after the vehicle's launch, indicating strong market acceptance [13]. Competitive Analysis - The 10EM-P is compared with competitors like the new XPeng P7 and BYD Han L DM, with strengths in design and interior luxury but weaknesses in brand reputation [10][14]. - The vehicle is positioned as a unique offering in the C-class hybrid segment, appealing to customers looking for a stylish and functional car [20]. Financial Support - The current financing options include a two-year, 100,000 yuan interest-free plan, making it financially attractive for potential buyers [18]. - The financial breakdown for the 120 four-wheel drive Ultra version shows a total cost of approximately 171,800 yuan after discounts, with manageable monthly payments [18]. Market Timing - The current market conditions are favorable for purchasing the 10EM-P, with significant pre-orders indicating strong demand [19].

Core Viewpoint - The article discusses the rapid growth of plug-in hybrid electric vehicles (PHEVs) in the automotive market, highlighting the significant increase in their sales proportion within the new energy vehicle segment, which is expected to reach 40% in 2024, up 17 percentage points from 2022 [3][10]. Group 1: Company Overview - Longsheng Technology (300680.SZ) is a company involved in the PHEV sector, experiencing rapid growth over the past seven years, with its stock price reaching new highs in the secondary market [8][9]. - The company was founded in 2004 and is recognized as a national "specialized, refined, distinctive, and innovative" small giant enterprise, with its controlling shareholders being the Ni family, who hold 29.38% of the shares [12][13]. - Longsheng Technology's business has evolved from a focus on commercial diesel engine exhaust gas recirculation (EGR) systems to a diversified manufacturing service provider across multiple sectors, including new energy vehicles [15][18]. Group 2: Financial Performance - The company has achieved a compound annual growth rate (CAGR) of 51.4% in revenue from 2018 to 2023, with revenue of 1.64 billion yuan in the first three quarters of 2024, reflecting a growth of 38.5% [19][20]. - The net profit attributable to the parent company has increased significantly, with projections for 2024 indicating a net profit of 210 to 240 million yuan, representing a year-on-year growth of 43% to 63% [22][24]. - In 2023, the revenue from the new energy business reached 940 million yuan, accounting for 52% of total revenue, with expectations for further growth in 2024 [26]. Group 3: Business Segments - The company operates three main business segments: EGR systems, new energy vehicle drive motor cores, and precision automotive components, with EGR systems contributing the most to profits while new energy vehicle components generate the highest revenue [27][28]. - The EGR product segment is projected to account for 34% of revenue in the first half of 2024, while new energy vehicle components are expected to contribute 43% [28]. - The market for EGR products is relatively small, with projections indicating a potential market size of 3.22 billion yuan by 2027, growing at a CAGR of 15.6% from 2024 to 2027 [32]. Group 4: Market Dynamics - The demand for drive motor cores is expected to grow significantly, driven by the increasing number of electric vehicles and hybrid models, with the market for motor cores projected to reach 11.33 billion yuan by 2027, growing at a CAGR of 26.2% [41][42]. - The company has a concentrated customer base, with the top five customers accounting for 65% of total sales in 2023, indicating a reliance on major clients for revenue [50][51]. - The overall gross margin has declined by 7.7 percentage points from 2021 to 2022, primarily due to the lower margins in the new energy segment, with the gross margin for the EGR segment at 24.5% and for new energy components at 11.9% in the first half of 2024 [53][55].