智通财经APP获悉，8月15日，崔东树发文称，2025年7月汽车生产251万台，同比增8%；新能源汽车生产118万台，同比增17%，渗透率47%；燃油车生产 133万台，同比增2%。2025年1-7月汽车生产1808万台，同比增11%；新能源汽车生产805万台，同比增33%，渗透率45%；燃油车生产1003万台，同比降 3%。 2025年国家加紧实施以旧换新政策，生产需求持续增长，就业物价总体稳定，新能源车强势增长，高质量发展取得新成效。2025年7月份，社会消费品零 售总额38780亿元，同比增长3.7%。其中，汽车消费额3849亿元，同比降2%；除汽车以外的消费品零售额34931亿元，增长4.3%。1—7月份，社会消费品 零售总额284238亿元，增长4.8%。其中，汽车消费额27224亿元，同比增0.4%；除汽车以外的消费品零售额257014亿元，增长5.3%。 随着车市以旧换新补贴政策，引爆近期车市,效果特别显著，我们的国内车市零售量增长年度预期也需要从2%调高到6%了。虽然上半年增速11%，但下半 年逐步进入减速周期。期待未来能有长效的强力接续政策，减免购车人员个税、推动新能源车下乡、优化C7经济型 ...

Investment Rating - The report maintains a "Buy" recommendation for the companies involved, specifically Jianghuai Automobile, Seres, and Wuxi Zhenhua [9]. Core Insights - The report highlights that Hongmeng Intelligent's offline layout has reached a new high, with 32 new user centers established in April and May 2025. Currently, there are over 290 Aito user centers, 160 Hongmeng Intelligent user centers, and 710 experience centers [4][5]. - Hongmeng Intelligent's sales are expected to continue breaking records due to ongoing channel expansion and the new vehicle cycle. The total number of stores has exceeded 1,000, and weekly sales surpassed 12,497 units, achieving over 44,454 vehicle deliveries in May 2025 [5][6]. - The launch of the high-end model, Zun Jie S800, has seen significant demand, with over 6,500 pre-orders in its first month, indicating a potential shift in market dynamics against foreign brands [6]. Summary by Sections Market Performance - The automotive sector has shown a 30.5% increase over the past 12 months, while the Shanghai-Shenzhen 300 index has increased by 13.2% [2]. Company Focus and Earnings Forecast - Jianghuai Automobile (600418.SH) is projected to have an EPS of 0.25 in 2025, with a PE ratio of 160.36, and is rated as a "Buy" [9]. - Seres (601127.SH) is expected to have an EPS of 4.61 in 2025, with a PE ratio of 29.14, also rated as a "Buy" [9]. - Wuxi Zhenhua (605319.SH) is forecasted to have an EPS of 1.80 in 2025, with a PE ratio of 18.98, rated as a "Buy" [9].