每经编辑｜陈鹏程 王晓波 1 隔夜市场 美股三大指数收盘涨跌不一，纳指高开低走，收跌0.03%，标普500指数微涨0.19%，道指涨0.66%；明星科技股表现分化，阿斯麦涨超近9%，美光科技涨 超10%，二者股价均创历史新高；AMD涨超4%，英伟达涨超1%，谷歌微涨；特斯拉、微软跌超2%，亚马逊跌近2%，Meta跌超1%，苹果微跌。纳斯达克中 国金龙指数涨4.38%，迎来"开门红"，中概股普涨，百度收涨15%，哔哩哔哩、网易涨超7%，阿里巴巴涨超6%，京东涨近3%。 美油主力合约收跌0.16%，报57.33美元/桶；布伦特原油主力合约跌0.08%，报60.8美元/桶。 现货黄金涨0.24%，报4329.32美元/盎司；COMEX黄金期货涨0.02%，报4341.90美元/盎司。现货白银涨1.4%，报72.6624美元/盎司；COMEX白银期货涨 2.35%，报72.27美元/盎司。 欧洲三大股指收盘小幅上涨，德国DAX指数涨0.13%报24521.49点，法国CAC40指数涨0.56%报8195.21点，英国富时100指数涨0.2%报9951.14点。 2 元旦假期首日 全社会跨区域人员流动量超2亿人次 1月 ...

IT之家 1 月 2 日消息，英国 BBC 今天（1 月 2 日）发布博文，报道称比亚迪在 2025 年将首次超越特斯拉，登顶全球纯电动汽车（EV）年度销量冠军。 基于比亚迪官方公布的数据，2025 年共计交付 2256714 辆纯电汽车，相比较 2024 年（1764992 辆）同比增长 27.86%。IT之家附上相关截图如下： | | | | Production Volume | | | | | Sale | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | December | December | Year-to-date | Year-to-date | Percentage | December | December | Ye | | Items | 2025 | 2024 | December | December | Year on | 2025 | 2024 | D | | | | | 2025 | 2024 | Year | | | | | New energy vehicle | 419,804 | 466,441 ...

Group 1 - Tesla reported a fourth-quarter delivery volume of 418,227 vehicles, a 16% year-over-year decline, falling behind BYD in the global electric vehicle market [1][2] - BYD's electric vehicle sales grew significantly, with a total of nearly 2.26 million units delivered in 2025, marking an increase of nearly 28% year-over-year, while Tesla's deliveries were approximately 1.64 million, representing a decline of over 8% from 2024 [2][3] - Analysts have expressed skepticism about Tesla's sales outlook for 2026, with average market expectations dropping from over 3 million units two years ago to around 1.8 million units currently [4] Group 2 - Tesla's market share in Europe has declined, with new car registrations falling by 39% in the first 11 months of 2025, while BYD's registrations surged by 240% [4] - The introduction of a cheaper version of the Model Y in October may help Tesla regain some market share in emerging markets, despite facing strong competition from Chinese manufacturers [6] - Tesla's CEO Elon Musk has shifted focus to the development of the Robotaxi service, which aims to achieve fully autonomous driving without a safety supervisor, although current consumer access to such services remains limited [6][8]

Core Insights - BYD has surpassed Tesla in global electric vehicle sales, achieving 2.26 million units in 2025, a nearly 28% increase from 2024, while Tesla's deliveries fell to 1.6 million, marking an 8.6% decline, the largest annual drop in its history [2][8] - Despite not yet entering the U.S. market, BYD's growth in the electric vehicle sector has outpaced Tesla, which relies heavily on the U.S. market for nearly half of its revenue [8][9] - Tesla's sales have been impacted by increased competition from BYD and other automakers, as well as political controversies surrounding CEO Elon Musk, leading to a significant drop in demand [9][10] Company Performance - BYD's total vehicle sales, including electric and plug-in hybrid models, are projected to exceed 4.6 million units in 2025, but the growth rate has fallen to its lowest in five years, indicating challenges in the Chinese market [10][11] - In the first three quarters of 2025, BYD's net profit declined, reflecting the pressures of intense competition and price wars in the domestic market [11] - BYD's market share in China has decreased from 35% in 2023 to 29% in the first eleven months of 2025, while competitors like Geely have seen significant growth [11] Market Dynamics - The U.S. electric vehicle market showed signs of weakness in late 2025, with Tesla's fourth-quarter deliveries dropping by 15.6% compared to the previous quarter [8][9] - Tesla's strategy to introduce lower-priced versions of its Model 3 and Model Y has not fully mitigated the impact of the expiring tax incentives, as these models come with reduced range and features [9] - The competitive landscape in China remains fierce, with over 150 automotive brands and more than 50 electric vehicle manufacturers, intensifying the pressure on BYD [11]

Core Viewpoint - Tesla's fourth-quarter delivery volume decreased by 16% year-on-year to 418,227 vehicles, falling behind China's BYD in the global electric vehicle market [1][2]. Group 1: Tesla's Performance - Tesla's fourth-quarter delivery volume was 418,227 vehicles, which was below analyst expectations and the company's own targets [2]. - For the entire year, Tesla delivered approximately 1.64 million vehicles, significantly lower than BYD's nearly 2.26 million electric vehicle deliveries [2][5]. - The decline in Tesla's delivery volume has raised concerns among Wall Street analysts regarding the company's sales outlook for 2026, with average market expectations dropping from over 3 million vehicles to about 1.8 million [5]. Group 2: BYD's Performance - BYD's electric vehicle sales have shown consistent growth, with the company delivering nearly 2.26 million vehicles in the past year, including over 200,000 plug-in hybrid vehicles [2][5]. - In the fourth quarter of 2024, BYD's pure electric vehicle deliveries surpassed those of Tesla, indicating a growing competitive edge [5]. Group 3: Market Dynamics - Tesla's CEO Elon Musk has attempted to shift focus from declining sales by promoting advancements in autonomous taxi services, although the current availability of such services remains limited [3]. - The overall electric vehicle market is witnessing a shift, with BYD gaining a stronger foothold while Tesla's growth projections are being revised downward [5].

特斯拉第四季度交付量同比下降16%，至418,227辆，预估为440907辆。相比之下，比亚迪在第四季度 和全年电池电动车销量均实现增长，全年交付接近226万辆电动车，而特斯拉为164万辆。 $特斯拉 (TSLA.US)$ 去年的汽车销量下降了8.6%，使其在全球电动车制造商排名中明显落后于中国的 $比亚迪股份 (01211.HK)$ （BYD）。 特斯拉在周五发布的声明中表示，第四季度交付量同比下降16%，至418,227辆，预估为440907辆。特 斯拉四季度交付量低于媒体调查的分析师预期以及公司自身目标。 相比之下，比亚迪在第四季度和全年电池电动车销量均实现增长，全年交付接近226万辆电动车，而特 斯拉为164万辆。 马斯克通过大力宣传其长期推进的自动驾驶出租车（robotaxi）业务进展，将外界注意力从特斯拉不断 下滑的销量上转移开来。不过，尽管公司在年底开始进行无人驾驶测试，目前消费者只能在美国奥斯汀 和旧金山湾区，从数量有限的车辆中叫车，而且前排仍配有安全监督员。 比亚迪在去年进一步拉开了与特斯拉的差距。此前在2024年，比亚迪在整体表现上仅略逊于特斯拉。虽 然比亚迪在当年第四季度交付的纯电动车数 ...

Core Viewpoint - Tesla's dominance in the electric vehicle market has been overtaken by BYD, with Tesla's fourth-quarter deliveries declining by 16% year-on-year, totaling 418,227 vehicles, which fell short of analyst expectations and the company's own targets [1][2]. Group 1: Sales Performance - Tesla's total electric vehicle deliveries for the year reached 1.64 million, while BYD's deliveries were nearly 2.26 million, marking a significant lead for BYD [2]. - In the fourth quarter, BYD's pure electric vehicle deliveries surpassed Tesla's, indicating a shift in market leadership [5]. - Tesla's sales in Europe saw a 39% decline in new car registrations for the first 11 months of 2025, contrasting with BYD's 240% increase in the same region [5]. Group 2: Market Trends - Analysts express growing skepticism about Tesla's sales outlook for 2026, with previous estimates of over 3 million deliveries now adjusted down to approximately 1.8 million [5]. - The introduction of a cheaper version of the Model Y in October may help Tesla regain some market share in the coming quarters, particularly in emerging markets like Thailand, Vietnam, and Brazil, where electric vehicle penetration is rapidly increasing [6]. Group 3: Competitive Landscape - BYD has maintained a competitive edge by selling over 2 million plug-in hybrid vehicles in the past two years, further widening the gap with Tesla [5]. - The overall acceptance of pure electric vehicles in Europe has increased, with these vehicles accounting for about 16% of all new car sales in the region [5].

格隆汇1月2日｜特斯拉去年的汽车销量下降8.6%，使这家马斯克领导的公司在全球电动汽车生产商排 名中远远落后于比亚迪。特斯拉周五在一份声明中表示，其第四季度的交付量下降了16%，降至418227 辆，低于分析师的预期。相比之下，比亚迪的电动汽车销量在本季度和全年都有所增长，全年交付了近 226万辆电动汽车，而特斯拉的电动汽车销量为164万辆。华尔街现对特斯拉2026年的销售前景越来越怀 疑。两年前的这个时候，分析师预测特斯拉将交付超过300万辆汽车，如今平均预期值已骤降至约180万 辆。 ...

Core Viewpoint - The article discusses the expansion of Li Auto's supercharging stations, highlighting significant growth in the number of stations and their strategic placement along highways, which is expected to enhance the charging infrastructure for electric vehicles in China. Group 1: Expansion Plans - As of December 31, 2024, Li Auto has 1,727 supercharging stations, with an increase of 345 stations in the last week of December and 136 stations added on December 31 alone [1] - By December 31, 2025, the number of supercharging stations is projected to reach 3,907, with 194 stations added in the last week of December and 72 on December 31 [1] - Li Auto plans to have a total of 4,800 supercharging stations by the end of 2026, with over 35% of these located on highways, equating to approximately 1,680 stations [1] Group 2: Charging Infrastructure Statistics - Currently, about 20% of highway service areas have Li Auto supercharging stations, with an average of one station every 318 kilometers on all highways in China [1] - By the end of 2026, it is expected that around 28% of highway service areas will feature Li Auto supercharging stations, reducing the average distance between stations to approximately 227 kilometers [1] - During the period from October 1 to 8, 2025, Li Auto's supercharging stations accounted for 12% of the total charging volume on national highways, with a total charging volume of 14.7 million kWh [4] Group 3: National Charging Station Growth - As of December 27, 2024, over 5,800 out of 6,000 highway service areas in China have installed charging piles, achieving a coverage rate of 97% [4] - The total number of charging piles in highway service areas has reached 33,000, with an increase of 12,000 compared to 2023 [4] - The number of charging sessions for new energy vehicles on highways reached 5.169 million, with a total charging volume of 1.23 trillion kWh during the same period, reflecting a 23.61% increase in daily average charging volume compared to the May Day holiday and a 47.3% increase compared to the previous year's National Day holiday [4]

特斯拉以欧洲多国新车销量大幅下降的惨淡光景，为其在欧洲低迷的一年表现画上句号。 据法国汽车协会数据，这家美国企业上月在法国仅注册1942辆汽车，同比下滑66%。瑞典市场方面，特 斯拉12月销量暴跌71%，全年销量降幅达67%。 挪威仍是逆势而上的例外，该公司12月在该市场注册了5，679辆汽车，同比增长近90%。特斯拉在该市 场的受欢迎程度依然不减，去年售出的新车中96%为纯电动汽车。 分析师预计特斯拉将于周五晚些时候公布第四季度全球汽车交付量下滑约11%。本周早些时候，特斯拉 罕见地发布了一份分析师对汽车交付量的平均预期，该数据更为悲观，显示交付量下降15%。 责任编辑：陈钰嘉 特斯拉以欧洲多国新车销量大幅下降的惨淡光景，为其在欧洲低迷的一年表现画上句号。 据法国汽车协会数据，这家美国企业上月在法国仅注册1942辆汽车，同比下滑66%。瑞典市场方面，特 斯拉12月销量暴跌71%，全年销量降幅达67%。 挪威仍是逆势而上的例外，该公司12月在该市场注册了5，679辆汽车，同比增长近90%。特斯拉在该市 场的受欢迎程度依然不减，去年售出的新车中96%为纯电动汽车。 分析师预计特斯拉将于周五晚些时候公布第四季度全 ...