点 击 蓝 字 关 注 我 们 | 零车(4) | | | | | | | 田口(0) | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 零售 | 轿车 | МРУ | SUV | 狭义乘用车 | 微客 | 广义乘用车 | HD | 轿车 | MPV | SUV | 狭义乘用车 | 微客 | 广义乘用车 | | (单位:万辆) | 600 | t | 1 | 습计 | 6 | 合计 | (单位:万辆) | 600 | C | 8 | 음计 | C | 合计 | | 12月份 | 97.9 | 10.4 | 117.8 | 226.1 | 1.5 | 227.6 | 12月份 | 14.3 | 0.9 | 43.6 | 58.8 | 3 0.6 | 59.4 | | 11月份 | 100.7 | 8.6 | 113.2 | 222.5 | 1.9 | 224.4 | 11月份 | 15.4 | 1.0 | 43.7 | 60.1 | 0.4 | 60.4 | ...

Market Overview - In November 2025, the national used car market transaction volume was 1.7462 million units, a month-on-month decrease of 0.67% and a year-on-year decrease of 2.21%, with a transaction value of 111.936 billion yuan [3] - From January to November 2025, the cumulative transaction volume of used cars reached 18.2369 million units, a year-on-year increase of 2.95%, with a cumulative transaction value of 1,169.118 billion yuan [3] Weekly Analysis - From December 15 to 21, 2025, the average daily transaction volume in the used car market was 67,800 units, a slight decrease of 2.44% compared to the previous week, but a 2.7% increase compared to the same period in November [6] Segment Market Changes - In November 2025, the transaction volume of basic passenger cars was 967,100 units, a month-on-month decrease of 0.25% and a year-on-year decrease of 5.07%. SUVs sold 227,100 units, down 0.42% month-on-month and down 6.37% year-on-year [8] - Cumulative transactions from January to November 2025 showed that passenger cars totaled 14.294 million units, a year-on-year increase of 0.97% [10] Vehicle Age Analysis - In November 2025, vehicles aged 3-6 years accounted for the largest share of transactions at 42.72%, a month-on-month decrease of 0.11% and a year-on-year decrease of 7.12% [18] - For the period from January to November 2025, vehicles aged 3-6 years also had the highest transaction volume, accounting for 44% [19] Price Range Analysis - In November 2025, the largest share of used car transactions was in the price range of 30,000 to 50,000 yuan, accounting for 29.5%, with a month-on-month increase of 3.4 percentage points [24] - The average transaction price of used cars in November was 64,100 yuan, an increase of 1,000 yuan from October, but a decrease of 200 yuan year-on-year [28] Regional Performance - In November 2025, the East China, Central South, and Southwest regions saw a month-on-month decrease in transaction volumes, while North China, Northeast, and Northwest regions experienced growth [25][26] - The transaction volume in East China was 483,500 units, down 2.03% month-on-month, while North China saw an increase of 2.43% to 273,100 units [25] New Energy Vehicle Market Overview - In November 2025, the national transaction volume of used new energy vehicles was 155,300 units, a month-on-month increase of 5.1% and a year-on-year increase of 40.1% [32] - From January to November 2025, the cumulative transaction volume of used new energy vehicles reached 1.44 million units, a year-on-year increase of 43.3% [32] Dealer Survey Insights - In November 2025, the provinces with the highest transfer rates were Beijing, Hebei, Guangdong, Tianjin, and Zhejiang, with Beijing's transfer rate at 38.86% [51]

Shutthiphong Chandaeng/iStock via Getty Images Dear Fellow Investor, This is the sixteenth annual letter to owners of the Fundsmith Equity Fund (‘Fund’). The table below shows performance figures for the last calendar year and the cumulative and annualised performance since inception on 1st November 2010 and various comparators. % Total Return 1st Jan to 31st Dec 2025 Inception to 31st Dec 2025 Sortino Ratio 6 Cumulative Annualised Fundsmith Equity Fund 1 +0.8 +612.9 +13.8 0.75 Equities 2 +12. ...

25款腾势D9再次OTA升级，本次升级覆盖25款腾势D9、腾势D9尊航版及至尊版。带来隐私声盾、 智能防晕车、高快领航辅助收费站通行等功能。 ...

2025年，吉利控股集团全球总销量4，116，321辆，同比增长26%，实现连续五年快速增长，年销 首次突破400万大关，创历史新高；其中新能源销量2，293，099辆，同比增长58%，新能源渗透率 56%，成为集团市场增长的主要驱动力。 ...

市场结构的脆弱、宏观的扰动于产业的分歧共同导致了市场的调整，并不建议投资者进行单一归因并线性外推。短期来看，内外部因素对A股的阶段性影响 可能已接近尾声，当前至明年一季度流动性环境仍偏宽松，低利率资产荒背景下居民"存款搬家"趋势有望继续延续，指数前期回调为投资者提供了较好的逢 低布局"跨年"行情时机。配置上，逢低布局成长风格，红利风格注重阶段性、结构性机会。 主力净流入行业板块前五：国产软件，军工，新能源汽车，有色金属，游戏； 主力净流入概念板块前五：人工智能，华为产业链，阿里巴巴概念股，数字 经济，国企改革； 主力净流入个股前十：昆仑万维、蓝思科技、三花智控、岩山科技、润泽科技、紫金矿业、航天发展、华胜天成、寒武纪、奥飞数据 2025年A股震荡上涨，但作为备受市场关注的行业板块之一，券商板块表现却逊色于上证指数，与其三季报展示出的业绩增长态势形成鲜明对比。2026年即 将来临，证券行业发展前景如何，板块又将涌现哪些布局机遇，受到投资者关注。2026年作为"十五五"规划开局之年，政策呵护下资本市场有望打开上行空 间，市场流动性有望继续维持合理充裕状态，券商板块有望在预期修复下迎来估值与盈利的共振，并购和出海有 ...

"湘超"夺冠赠车事件发酵数日后，"广汽埃安将向冠军永州队赠车"的消息引发关注。1月9日，永州市足 球协会方面向南都N视频记者表示，"目前相关事宜仍在协商、洽谈过程中。"随后，广汽埃安宣布正式 成为永州足球队2026年官方战略合作伙伴，公司将发起投票活动，经球迷票选产生永州队最佳贡献奖13 人，每人将获赠一台埃安汽车。 对于"广汽埃安将向永州队赠车"的消息，1月9日，永州市足球协会方面告诉南都记者，目前相关事宜还 没有确定，仍在协商、洽谈过程中。至于赠车数量及具体分配方式等细节，永州足协方面称，"目前不 太方便透露。" 同日，广汽埃安相关负责人告诉南都记者，"埃安和永州队的合作细节待定，是否以赠车的形式尚未确 认，等敲定后将对外宣布。" 随后，广汽埃安官方账号发文表示，广汽埃安正式成为永州足球队2026年官方战略合作伙伴，公司将发 起"永州队2025年最佳阵容"全民投票活动，经球迷票选产生永州队最佳贡献奖13人，每人将获赠一台埃 安UT super"永冲锋"冠军版以及换电权益。 南都此前报道，"湘超"夺冠赠车事件持续发酵。永州新兰天集团董事长唐蕾此前承诺，"永州队夺冠就 给每位队员奖励一台车"，随后其清空个人社 ...

Core Viewpoint - The company, Shuguang Co., announced a significant decline in production and sales figures for December 2025, indicating challenges in the automotive sector, particularly in the production of vehicles and axles [1] Group 1: Vehicle Production and Sales - The total vehicle production for December 2025 is projected to be 70 units, representing a decrease of 83.72% compared to previous figures, with breakdowns of 27 buses, 5 pickups, and 38 special vehicles [1] - The total vehicle sales for December 2025 are expected to be 164 units, reflecting a decline of 75.78%, including 28 buses, 98 pickups, and 38 special vehicles [1] Group 2: Axle Production and Sales - The axle production for December 2025 is forecasted to be 47,826 units, showing a decrease of 66.69%, with 25,358 units being for new energy vehicles, which is a decline of 74.29% [1] - The axle sales for December 2025 are anticipated to be 56,832 units, down by 52.02%, with 33,763 units for new energy vehicles, reflecting a decrease of 53.47% [1]

在充电网络建设方面，何小鹏表示，截至2025年底，小鹏在全球累计接入充电桩达266万个，其中欧洲地区接入106万个。自2026年起，小鹏计划在欧洲、亚 洲、美洲等地区逐步建设自营超快充站，推动其补能体系走向全球。 对于2026年，何小鹏展现出更强的信心。何小鹏透露，过去自动驾驶难以进入欧洲乃至全球市场，主要原因在于政策法规限制，例如联合国相关交通法规此 前不允许类似NGP/NOA（领航辅助驾驶）这样的高阶辅助驾驶功能在海外开放。但到2026年下半年，这一限制有望放开，自动驾驶技术将从中国真正走向 全球。 另一方面，过去基于固定规则编写的自动驾驶系统，难以适应各国不同的道路环境、交通文化和基础设施。而目前小鹏在欧洲的测试已取得显著突破，为全 球泛化奠定了技术基础。 何小鹏定义未来"魔幻五年" 小鹏P7+并非小鹏唯一一款全球同步首发的车型。1月8日，小鹏四款新车上市，其中P7+、G6、G9三车同步面向全球发售。何小鹏表示，"好的产品、好的 科技一定要从中国走向全球。" 新华财经上海1月9日电（李一帆）"2026款小鹏P7+是我们首款面向全球36个国家同步发布的车型。它不仅在中国生产，也将在欧洲制造，这标志着在创业 ...

"2026款小鹏P7+是我们首款面向全球36个国家同步发布的车型。它不仅在中国生产，也将在欧洲制 造，这标志着在创业十一年后，小鹏首次实现在全球多区域同步生产与发布，也意味着我们正从一家初 创企业，真正走向全球舞台。"在1月8日举办的小鹏汽车全球新品发布会上，小鹏汽车创始人何小鹏这 样说道，"这是一个属于小鹏的里程碑时刻。1月8日，小鹏P7+在中国上市；1月9日，P7+将正式登陆欧 洲市场。" 何小鹏定义未来"魔幻五年" 小鹏P7+并非小鹏唯一一款全球同步首发的车型。1月8日，小鹏四款新车上市，其中P7+、G6、G9三车 同步面向全球发售。何小鹏表示，"好的产品、好的科技一定要从中国走向全球。" 此前，小鹏G6、G9已经登陆海外市场。据何小鹏介绍，2025年，小鹏G6在欧洲5个国家成为中型纯电 SUV的新势力销量冠军；小鹏G9则在瑞典、德国、意大利等9个国家成为大型纯电SUV的新势力销量冠 军。 2025年，小鹏汽车在海外市场快速发展，全年交付量达到45008辆，同比增长96%，业务已拓展至全球 60个国家和地区。年内，小鹏成功进入英国、意大利、瑞士、匈牙利等10余个新市场，进一步扩大了全 球布局。 在加速市 ...