2025年全年，蔚来公司共交付新车326,028台，创历史新高，同比增长46.9%。其中，蔚来品牌共交付 178,806台。乐道品牌共交付107,808台。firefly萤火虫品牌交付39,414台。 截至目前，蔚来公司已累计交付新车997,592台。其中，蔚来品牌累计交付新车829,609台;乐道品牌累计 交付新车128,569台;firefly萤火虫品牌累计交付新车39,414台。 智通财经APP获悉，2025年12月，蔚来公司(09866)交付新车48,135台，创历史新高，同比增长54.6%。 其中，蔚来品牌交付31,897台，创历史新高，同比增长54.8%，交付量连续五个月增长;乐道品牌交付新 车9,154台;firefly萤火虫品牌交付新车7,084台，创历史新高，环比增长16.4%，交付量连续五个月增长。 从2026年1月1日起，车辆购置税优惠政策将由免征调整为减半征收。新政利好可车电分离的换电车型， 用BaaS电池租用方案买蔚来、乐道、firefly萤火虫车型，可享额外购置税减免。依据产品价格，分别可 节省1,770元至9,558元不等。 2025年第四季度，蔚来公司交付新车124,807台， ...

Core Viewpoint - The article discusses the upcoming changes in China's vehicle purchase tax policy for new energy vehicles (NEVs) from 2026, highlighting the implications for consumers and manufacturers as the tax exemption will shift to a reduced rate, affecting market dynamics and purchasing decisions [4][10]. Policy Overview - The main policies related to vehicle purchases include: 1. Current exemption of vehicle purchase tax for NEVs, which will change to a 50% reduction in 2026 [6][8]. 2. National "trade-in" subsidy policy, requiring the scrapping of old vehicles to qualify for significant subsidies [6]. 3. Local government subsidies for vehicle replacement, which can be combined with manufacturer promotions [6][8]. 4. Various limited-time subsidies from local governments and manufacturers aimed at boosting car sales [6]. Tax Policy Changes - The vehicle purchase tax exemption for NEVs will be fully in effect from 2024 to 2025, with a maximum exemption of 30,000 yuan per vehicle. From 2026 to 2027, the tax will be halved, with a maximum reduction of 15,000 yuan [10][12]. - The tax structure indicates that vehicles priced below 339,000 yuan will incur a tax equivalent to 4.42% of the vehicle price starting in 2026, while those above this threshold will see a flat increase of 15,000 yuan in tax [16][12]. Market Impact Predictions - The anticipated increase in vehicle purchase costs due to tax changes is expected to lead to a decline in sales, particularly affecting lower-priced models more significantly than higher-priced ones [17][21]. - The article predicts that the last quarter of 2025 may see a surge in sales as consumers rush to purchase vehicles before the tax changes take effect, potentially leading to record monthly sales figures [21][23]. Sales Data and Trends - Historical sales data indicates a correlation between price changes and sales volume, suggesting that a 1% increase in vehicle price could lead to a 2.5% decrease in sales [20]. - The article provides detailed monthly sales projections for 2026, indicating a potential decline in sales volume due to the new tax policy, with expectations of a significant drop in January 2026 following the holiday season [23][24].