Core Viewpoint - The Chinese new energy vehicle (NEV) industry is approaching a critical turning point as the exemption policy for NEV purchase tax is set to decline next year, leading to intensified competition between NEVs and traditional fuel vehicles [2][3]. Group 1: Industry Competition - The automotive industry is expected to enter a more competitive phase, with companies needing strong profitability to survive [2][3]. - The upcoming competition is described as a "淘汰赛" (elimination match), emphasizing the importance of profitability as the ultimate measure of success [3]. Group 2: Company Strategy - Geely has been integrating internal resources and emphasizing a unified strategy to enhance efficiency and reduce internal consumption [3]. - The company aims to complete the privatization merger of its brand Zeekr, with legal barriers removed and pending only ODI approval [3]. Group 3: Financial Performance - Geely's management expense ratio decreased from 2.4% to 1.8% year-on-year, with a notable drop to 1.5% in Q3 [3]. - R&D expenditure as a percentage of revenue fell from 7.2% to 6.1%, attributed to improved efficiency through platform integration [3]. - The profit growth rate (25% quarter-on-quarter) outpaced revenue growth (15% quarter-on-quarter) and sales growth (8% quarter-on-quarter) [4]. Group 4: Product and Sales Performance - The average selling price (ASP) of vehicles increased from 93,000 to 105,000, contributing to improved profitability [5]. - The core net profit per vehicle rose to approximately 5,200 yuan, a 16% increase from the first half of the year [5]. - Geely's fuel vehicle sales grew by 6.2% year-on-year, while NEV sales surged by 114%, exceeding the industry average growth rate by 33% [5][6]. Group 5: Global Expansion - Geely's NEV exports increased by 66% quarter-on-quarter, with expectations of 410,000 units for the year and a projected growth of 50%-70% next year [7]. - The overseas market is anticipated to become a significant profit growth driver, with net profit margins in international markets ranging from 5% to 10%, higher than domestic margins [7]. Group 6: Future Outlook - Geely plans to launch over 10 new models next year, indicating a continued focus on product development [6]. - The company is preparing for a competitive landscape where financial metrics, cost control, and cash flow will be critical for survival [7].

Core Viewpoint - The trend of young consumers purchasing vehicles from bankrupt car companies, referred to as "zombie cars," is gaining attention, with brands like Neta, Jiayue, and HiPhi being popular choices among this demographic [1][4][5]. Group 1: Consumer Behavior - Young consumers are motivated to buy "zombie cars" due to lower prices resulting from the bankruptcy of these companies, allowing them to afford vehicles that would otherwise be out of their budget [2][4]. - Consumers like Jiang and Guan have shared their experiences of purchasing vehicles at significantly reduced prices, with discounts reaching up to 63,000 yuan for Neta L and 6,999 yuan for Jiayue 07 [4][5]. - The perception of value has shifted, with many young buyers focusing on the practical utility of these vehicles rather than brand reputation or resale value [6]. Group 2: Market Dynamics - The automotive industry is undergoing a "淘汰赛" (elimination race), with many well-known new energy vehicle brands facing bankruptcy or restructuring, indicating a significant shake-up in the market [7][8]. - Industry experts predict that between 2025 and 2027, many companies will be eliminated from the market due to intense competition and a lack of innovation [8]. - The current market is characterized by rapid growth, with the retail sales of new energy vehicles in China reaching 1.4 million units in October 2025, a 17% year-on-year increase, and a penetration rate of 58.7% [9]. Group 3: Sales Performance - Leading companies like BYD and Geely are experiencing substantial sales growth, with BYD achieving a record monthly sales figure of 441,700 units in October [10]. - New energy vehicle sales from emerging brands are also increasing, with companies like Leap Motor and Hongmeng Zhixing reporting record deliveries, indicating a competitive landscape [10]. - The overall automotive market in China is transitioning towards a model dominated by new energy vehicles and exports, suggesting a shift in industry focus and strategy [10].

以下文章来源于字母榜 ，作者张琳 字母榜 . 让未来不止于大 售后无门。 作者 | 张琳 来源 | 字母榜 （ID：wujicaijing） 2024年12月29日，北京六环路上，杨斌驾驶着刚买了一个多月的极越01，车辆智驾系 统突然出现闪退，变道的一瞬间，杨斌吓了一跳，并立刻接管车辆。但与此同时，中控 屏出现了花屏，杨斌只得行至安全地带，并拨打售后电话。 在按照售后指导重启若干次仍然无法恢复正常后，杨斌来到官方指定的领克4S店进行维 修，却被告知店内检测设备尚未配齐。 此时距离极越汽车官方给出售后兜底方案已过去了整整两周时间。杨斌怎么也想不通， 自己刚买了一个月的新车，怎么突然就暴雷了。好在极越背后两个"富爸爸"给出了兜底 售后方案，他才松了一口气。 而今，看似完善的服务措施却难以真正落地，极越车主们越发担忧起来。近日，部分极 越车主发布公开信，喊话吉利、百度。信中称，自2024年12月12日起，全国极越车主 在车辆维修、零配件供应及车载系统稳定性上，面临严重困扰，已对行车安全和车主权 益构成实质性损害。 现如今，买辆车也可能遭遇如买房般的烂尾风险的情况，不止发生在极越车主们身上。 自2018年以来，新能源 ...