今年以来，包括通用汽车、梅赛德斯-奔驰、Stellantis、马自达、斯巴鲁、丰田等多家跨国车企相继暂 缓全面电动化战略，转而继续投资内燃机技术研发。不少中国自主车企也同样采用了这种"双路径"的发 展策略，如长城汽车（601633）在2025上海车展上发布了"泛内燃机战略"，一方面布局Hi4智能四驱电 混技术，另一方面推出4.0T V8发动机，持续深耕传统动力领域。 在新能源车渗透率持续攀升的趋势下，燃油车市场却迎来阶段性回暖。 根据中国汽车工业协会的最新数据，在告别4月同、环比双下滑后，5月燃油乘用车市场出现回暖。数据 显示，今年5月，传统燃料（包括汽柴油、天然气、甲醇等）乘用车国内销量为85.4万辆，环比增长 2.2%。与此同时，新能源乘用车5月销量为109.5万辆，占乘用车国内销量比例为54.7%。这一市场表 现，实际上反映了中国汽车消费市场的多元化和区域差异性。 根据J.D.Power调研显示，西北地区燃油车保有量占比高达68%，而混动车型在三四线城市的销量增速连 续18个月超纯电车型20个百分点，这种区域差异反映出能源转型的梯度性特征。另据中国汽车流通协会 调研显示，不同消费群体对燃油车仍保持较高偏 ...

Core Viewpoint - The 2025 China Rally of the International Rally (referred to as "Huan Ta Rally") officially commenced in Aksu, Xinjiang, marking the return of Great Wall Motors after a 10-year hiatus with a strong lineup of ten factory production vehicles across three brands and three power types [1][4]. Group 1: Company Participation and Strategy - Great Wall Motors previously won the overall championship at the Huan Ta Rally in 2015 and is now participating with its brands Haval, Tank, and Great Wall Pickup, competing in gasoline, diesel, and new energy categories [4]. - The company emphasizes its strategic confidence in product strength and technical foundation, showcasing its commitment to comprehensive research and development across various power systems and market needs [4]. - The "Pan Internal Combustion Engine" strategy was introduced at the 2025 Shanghai Auto Show, aiming to integrate internal combustion engines with electric drive systems to better meet local demands [4]. Group 2: Event Details and Challenges - The 2025 Huan Ta Rally will last for 13 days, covering approximately 4,500 kilometers, with special stages totaling 2,350 kilometers, featuring diverse terrains such as deserts (65%), Gobi (15%), and gravel (20%) [9]. - This rally is recognized as "Asia's most challenging off-road rally," presenting comprehensive challenges to vehicle systems including chassis, power output, thermal management, suspension tuning, and electronic stability [9]. - For Great Wall Motors, the rally serves as a "system-level capability training camp," allowing the collection of extensive real-time data to inform the tuning and iteration of mass-produced models, facilitating a two-way interaction between "event site" and "engineering system" [9].

下半年坦克、欧拉品牌将有多款车型面世。 在2025年上海车展前夕，长城汽车（601633）总裁穆峰的一句"长城打死不做增程"，让长城汽车再次立于风口浪尖。 公开信息显示，2024年中国新能源渗透率已超40%，突破1200万辆，其中增程车型销量为118万辆，成为增速最快的技术路线。 自去年开始，极氪、小鹏等车企开始加入增程路线，希望分得增程市场不断扩容后的蛋糕。 但长城却并没有驶入增程赛道，穆峰认为："既然我们已经有了最好的新能源架构，为什么还要给用户提供退步的增程技 术？"增程车的畅销得益于解决用户的续航焦虑。对此，长城的解法是油电同进。 在本次上海车展上，长城汽车正式发布了"泛内燃机战略"，长城认为，内燃机与电驱动并不是非此即彼的对手，而是技术迭代 中的共生体。"长城汽车不做非油即电的割裂选择，而是基于全球用户的需求和场景，让内燃机和电驱系统搭档，让每一款车型 更适配本地需求。"穆峰表示。 除了产品策略，长城也格外重视海外市场。上海车展期间，长城汽车发布了ONE GWM战略，剑指成为"世界的GWM"目标。 长城推进"一个长城"出海已久。早在2022年末，长城汽车就公布了"ONE GWM"全球行动纲领，以期合 ...

Core Viewpoint - The 2025 Shanghai Auto Show reflects a shift towards a more serious and technology-driven atmosphere, showcasing the aftermath of a fierce price war and the evolving landscape of the automotive industry [2][3][25]. Group 1: Event Overview - The Shanghai Auto Show, the largest global auto exhibition, opened on April 23, 2025, after a dispute over its hosting rights [2][6]. - This event marks a temporary halt after over 700 days of price wars in the automotive sector [3]. - The layout of the exhibition indicates a consolidation of power among leading companies, with larger displays from firms like Geely and Huawei, while many smaller brands and foreign automakers are notably absent [4][12]. Group 2: International Presence and Engagement - The show has seen an increase in international attendance, facilitated by improved access and visa policies, leading to a more diverse crowd [7][9]. - High-profile executives from global automotive brands are engaging with Chinese manufacturers, indicating a shift towards more equal standing in terms of brand status and technological capabilities [11][12]. Group 3: Technological Trends - Key technological highlights include advancements in fast charging, with companies like Zeekr and BYD showcasing rapid charging capabilities [26]. - The integration of AI and digital technologies is becoming prominent, with many companies announcing the application of AI models in their vehicles [29][30]. - A notable trend is the shift from hardware-focused innovations to software-defined vehicles, reflecting a broader digital transformation in the automotive industry [30]. Group 4: Safety and Regulatory Focus - The event has seen a strong emphasis on safety, particularly in light of recent regulatory changes regarding autonomous driving technologies [35][36]. - Many companies have adjusted their marketing strategies to focus on safety rather than exaggerated claims about autonomous capabilities, reflecting a more cautious approach in the industry [35][36]. Group 5: Market Dynamics and Future Outlook - The 2025 Auto Show signifies a transition into a phase of technological refinement rather than radical innovation, with companies focusing on optimizing existing technologies [39]. - The competition is shifting towards enhancing user experience and safety, as well as addressing consumer demands for personalized vehicle features [41].