下沉市场，没有爽文剧本。曾经霸榜街头的微型车，正悄然退场。 这个国庆，我回到潮汕的十八线乡镇。一个明显的变化是：往年随处可见的五菱宏光MINIEV、奇瑞QQ冰淇淋等微型电动车，如今却难觅踪影。 一位在老家做汽车销售的朋友告诉我，今年国庆期间，县城新能源车销量同比激增近七成，而微型车的占比从去年同期的45%骤降至12%。 取而代之的，是小米SU7、小鹏新P7等设计鲜明的国产新势力，甚至偶尔还能看到仰望U8、问界M9这类售价超过40万的高端车型从容驶过。 图源：电车通摄制 这种强烈反差令人不禁追问：曾经被称为"乡镇神器"的微型车，为什么突然不香了？又是什么，让高端新能源车在十八线小城开始流行起来？ 曾经的"城镇神器"：微型车为何走下神坛？ 在过去很长一段时间里，微型车堪称低线城市的 "出行神器"，备受青睐。价格因素是其火爆的关键。那段时间，在我老家基本是呈现一种"车到山前必有 路，有路必有微型车"的状态。 就拿五菱宏光 MINIEV 来说，最初2.88万元的起售价，让许多低线城市收入不高的家庭也能轻松拥有一辆车，实现从无到有的出行跨越 ，极大地降低了购 车门槛，让汽车不再是遥不可及的奢侈品。 图源：五菱宏光 这其 ...

Core Insights - The automotive industry is experiencing a surge in new car launches, particularly in the electric vehicle (EV) segment, as companies rush to capitalize on government subsidies before they expire [1][5][19] - The demand for new cars has been robust, with several manufacturers reporting record sales in September, indicating a strong consumer interest in purchasing vehicles during the holiday season [1][6][19] - However, some brands are facing challenges, with lower foot traffic and sales during the National Day holiday, suggesting a mixed market response [12][15][19] New Car Launches - Nearly 80 new car models were launched in September, averaging two new cars per day, with a significant proportion being SUVs and electric vehicles [1] - Notable new models include the Li Auto i6, NIO ES8, and Zeekr 9X, which have attracted considerable consumer interest [1] Sales Performance - Several companies reported record sales in September, including Leap Motor exceeding 60,000 deliveries, and NIO maintaining over 30,000 monthly deliveries [1][6] - During the National Day holiday, some dealerships experienced high customer engagement, with significant interest in models like the Aito M7 and Zeekr 9X [6][9] Consumer Behavior - Consumers are increasingly motivated to purchase vehicles before subsidy programs end, leading to a rush in sales [10][19] - Some customers are opting to wait for better deals or are hesitant to purchase due to the uncertainty surrounding subsidy policies [10][19] Market Dynamics - The market is shifting from a "price war" to a "value war," with consumers becoming more discerning and focused on product quality rather than just price [19][21] - Companies are introducing tax rebate policies to attract buyers, indicating a strategic shift in response to changing consumer expectations [19][21] Regional Variations - Sales performance varies significantly by region, with some areas experiencing high demand while others, like certain Audi and Lantu dealerships, report low customer turnout [12][15] - Local subsidy policies are influencing consumer decisions, with some regions having already suspended or adjusted their vehicle replacement subsidies [10][19]

在动力方面，埃尚A100C搭载了一台最大功率为35千瓦、最大扭矩为83牛·米的电机，配备由国轩高科提供的 17.65kWh磷酸铁锂电池，CLTC工况下的续航里程达到了220公里，最高车速可达101公里/小时。 近日，柳州五菱新能源汽车有限公司（以下简称"柳州五菱新能源"）正式宣布进军乘用车市场，并推出全新新能 源汽车品牌"埃尚汽车"。该品牌计划在未来3年内基于微型车、小型车和紧凑型车三大自主技术平台，推出涵盖轿 车、SUV、MPV等车型的完整产品矩阵。 作为埃尚汽车品牌的首款车型，埃尚A100C定位为纯电动微型车，将于9月26日品牌发布当日同步上市。此前，埃 尚A100C已在工信部完成申报，其设计风格圆润可爱，尺寸方面长宽高分别为3285mm、1708mm、1550mm，轴 距为1980mm。 值得注意的是，虽然柳州五菱新能源汽车有限公司名称中包含"五菱"，但与我们熟知的"五菱品牌"并无直接关 联。后者隶属于上汽通用五菱汽车股份有限公司，而柳州五菱则是广西汽车集团旗下的控股子公司，此前主要生 产轻型商用车，品牌名称为"菱势汽车"。此次进军乘用车市场，是广西汽车集团在新能源领域的一次重要布局。 在当前的新能源汽 ...

Group 1 - SAIC-GM-Wuling and Huawei have upgraded their strategic partnership, focusing on advanced driving assistance, smart cockpit, and intelligent manufacturing [2] - The collaboration will integrate Huawei's intelligent solutions with SAIC-GM-Wuling's proprietary technologies, including Lingmou ADAS, Lingyu cockpit, Lingxi power, and Shenlian battery [2] - The first model resulting from this partnership is the Baojun Huajing S, a new flagship six-seat SUV equipped with Huawei's advanced driving and smart cockpit technologies [2] Group 2 - Baojun Automotive, established in 2010, has seen a significant decline in sales, dropping from over one million units at its peak to less than 100,000 units [3] - In 2024, Baojun's cumulative sales were only 43,647 units, averaging less than 4,000 units per month, although August saw a year-on-year increase of 8.1% with total sales of 5,103 units [3] - The most expensive model, Baojun Xiangjing, has struggled in the market due to unclear positioning and lack of competitive pricing, with combined sales of its EV and PHEV versions being less than 1,300 units since its launch [3]

Core Viewpoint - Automotive consumption is a key driver for economic growth, with recent subsidy initiatives in cities like Nanjing aimed at boosting new car purchases, particularly in the electric vehicle (EV) sector [1][8]. Group 1: Subsidy Initiatives and Market Impact - Nanjing announced a new round of consumer subsidies for new passenger cars, offering up to 8,000 yuan based on the vehicle's invoice price, effective until the end of the year [1]. - In the first half of the year, automotive consumption subsidies significantly stimulated consumer demand, with retail sales of new energy vehicles (NEVs) in large enterprises increasing by 68.9%, contributing 4.0 percentage points to overall retail sales growth [1]. - The penetration rate of NEVs has consistently exceeded 50% for six consecutive months, reaching over 55% in August [3]. Group 2: Downstream Market Expansion - The cumulative sales of NEVs in rural areas have surpassed 15 million units since the launch of the "NEVs Going to the Countryside" initiative, with an expanded model range of 124 vehicles this year [3][8]. - The initiative aims to meet diverse consumer needs in lower-tier markets, showcasing a shift in consumer demand towards more affordable and varied vehicle options [3][5]. - Challenges remain in rural areas, such as inadequate charging infrastructure and limited access to maintenance services, which hinder NEV adoption [5]. Group 3: "Thousand Counties and Ten Thousand Towns" Campaign - The "Thousand Counties and Ten Thousand Towns" campaign aims to enhance the purchasing environment for NEVs in rural areas, promoting vehicle trade-in programs and increasing the availability of suitable models [7][8]. - The campaign includes a focus on policy promotion and consumer education to maximize the impact of subsidies and trade-in incentives [7]. - Data from Shandong indicates strong growth in vehicle trade-in applications, suggesting that such initiatives can further stimulate market activity [7]. Group 4: Diversification of Automotive Consumption - The automotive consumption landscape is evolving from mere vehicle purchases to include experiences like RV camping, modifications, and motorsport events, reflecting a broader trend in consumer preferences [10]. - The government encourages the development of the automotive aftermarket, which is seen as a vital component of overall automotive consumption [10]. - As NEV costs decrease and technology improves, the market outlook for 2025 appears promising, particularly in rural areas where penetration is expected to accelerate [10].

汽车消费是推动经济增长的关键发力点之一。 9月5日，南京公布新一轮消费补贴活动，提出即日起至年底，对个人消费者在活动商户购买乘用车新车 的，按照新车发票含税价分档补贴，最高补贴8000元。 上半年的汽车消费补贴活动有效促进了消费增长。南京市统计局数据显示，上半年，汽车消费补贴有效 释放居民消费需求，新能源车渗透率进一步提升，限额以上单位新能源汽车零售额同比增长68.9%，拉 动限上社会消费品零售额增长4.0个百分点。 在新能源车保有量较高的城市之外，国家对下沉市场的重视程度也不断提升。今年以来，新能源车下 乡、"千县万镇"新能源汽车消费季等活动的实施开展，全方位激活市场活力，为汽车产业发展注入新动 能。 汽车下乡，覆盖面扩容 尽管新能源车销量不断增长，但在农村地区，新能源车消费也存在一些"堵点"。国际智能运载科技协会 秘书长张翔向21世纪经济报道记者表示："在农村地区，充电设施覆盖率较低，不少农村家庭只能用家 用220V慢充，而新能源车电池容量不断增大，充电效率不断提升，现有的充电设施难以满足需求。此 外，新能源车维修保养服务大多数位于城市地区，一定程度上也阻碍了农村消费者购买新能源车。" 值得注意的是，此次 ...

Core Insights - The article emphasizes the importance of promoting electric vehicle (EV) consumption in lower-tier markets through initiatives like the "Thousand Counties and Ten Thousand Towns" campaign and vehicle trade-in policies to maximize policy effects [1][4]. Group 1: Policy Initiatives - Nanjing has launched a new round of consumer subsidies for purchasing passenger vehicles, offering up to 8,000 yuan based on the vehicle's invoice price [1][5]. - The "Thousand Counties and Ten Thousand Towns" EV consumption season aims to enhance the purchasing environment for EVs in rural areas, with a focus on trade-in programs and diverse vehicle offerings [3][4]. - The Ministry of Commerce has initiated a new round of EV rural outreach activities, expanding the range of available models to 124, catering to various consumer needs [2][3]. Group 2: Market Performance - As of August, cumulative retail sales of new energy passenger vehicles reached 7.535 million units, marking a 25% year-on-year increase, with penetration rates exceeding 50% for six consecutive months [2][3]. - In the first half of the year, the retail sales of new energy vehicles in major cities increased by 68.9%, contributing 4.0 percentage points to overall retail sales growth [1]. Group 3: Challenges and Solutions - Despite the growth in EV sales, rural areas face challenges such as low charging infrastructure and limited maintenance services, which hinder consumer adoption [2][3]. - The government is addressing these issues by promoting the establishment of charging stations and service networks in rural regions, aiming for comprehensive coverage by 2025 [2][3]. Group 4: Consumer Trends - The demand for cost-effective vehicles is prominent in lower-tier markets, with trade-in purchases being a significant trend among consumers influenced by government policies [4][6]. - The article highlights a shift in automotive consumption from mere vehicle purchases to experiences such as road trips and vehicle modifications, indicating a broader market trend [6][7].

Group 1 - SAIC-GM-Wuling announced that the cumulative sales of the Hongguang MINIEV have surpassed 1.7 million units, maintaining its position as the sales champion in the micro new energy vehicle market for 60 consecutive months [2] - The company launched the 2025 Wuling Starlight S with a price range of 99,800 to 129,800 yuan, which can drop to 89,800 to 119,800 yuan with limited-time trade-in subsidies [2] - Competitors such as BYD Seagull and Geely Starwish have established a strong foothold in the 100,000 yuan new energy market, with BYD Seagull achieving cumulative sales of 1 million units in just 27 months [2][3] Group 2 - The success of the Hongguang MINIEV is attributed to Wuling's strategy of prioritizing consumer needs, launching the vehicle at a starting price of 28,800 yuan in 2020 [3] - Wuling has faced increasing competition as BYD and Geely offer more comprehensive product capabilities, diminishing Wuling's cost-performance advantage [3] - Wuling's net profit per vehicle was only 77.3 yuan in the first half of 2023, and the net profit for 2024 is projected to drop to 1 billion yuan, significantly down from 4.2 billion yuan in 2018 [3] Group 3 - To address market challenges, Wuling is launching a four-door version of the Hongguang MINIEV to tap into the A00 class four-door vehicle market [4] - The company is also enhancing brand influence through collaborations with well-known IPs and accelerating its export business, achieving 126,000 units in exports in the first half of the year, a 17.1% year-on-year increase [4] - Despite these efforts, Wuling faces significant pressure in the domestic market and must enhance product quality and technology while maintaining affordable pricing to secure its market position [4]

Core Viewpoint - The article discusses the evolving landscape of range-extended electric vehicles (REEV) in the Chinese automotive market, highlighting the shift towards longer pure electric range products and the implications for traditional hybrid and electric vehicle strategies [4][5][26]. Market Dynamics - The competition in the REEV segment has intensified, with new entrants aiming to redefine the market by offering products with over 400 kilometers of pure electric range [4][5]. - Traditional automakers are increasingly adopting REEV technology due to regulatory constraints on fuel vehicles, while companies like BYD, Geely, and Great Wall focus on plug-in hybrids (PHEV) [4][5]. Battery Capacity and Market Segmentation - The article categorizes the Chinese automotive market based on battery capacity, noting that vehicles with less than 10 kWh are typically internal combustion engines (ICE), while those with 10-20 kWh are mainly HEVs [7][9]. - PHEVs dominate the 10-20 kWh segment, offering competitive pricing and fuel efficiency, while the 20-40 kWh range sees a rise in pure electric vehicles (BEV) [9][10]. - As battery capacity increases to 40-60 kWh, PHEVs are losing market share, with BEVs and REEVs becoming more prominent [10][11]. Consumer Demand and Preferences - The article outlines a hierarchy of consumer needs regarding vehicles, emphasizing the importance of mobility, space, experience, and emotional value [13][14][20]. - REEV users are characterized by their desire for electric vehicle performance combined with long-distance travel capabilities, spacious interiors, and advanced smart features [20][21]. Economic Considerations - The decreasing cost of battery materials, particularly lithium iron phosphate (LFP), has made larger battery installations more feasible for manufacturers, allowing for enhanced vehicle performance and features [12][26]. - The article posits that as more vehicles with 400+ km of pure electric range enter the market, consumers may prefer pure electric vehicles over REEVs due to cost-effectiveness and convenience [26]. Future Outlook - The potential for REEVs to transition into a more premium market segment is discussed, suggesting that if they can offer superior space, experience, and emotional value, they may redefine consumer perceptions [27]. - The article concludes that while long-range REEVs may initially attract interest, they could ultimately lead consumers to favor pure electric vehicles as charging infrastructure improves and costs decrease [26][27].

Core Viewpoint - The establishment of Cloud Realm Intelligent Automotive (Chengdu) Co., Ltd. marks a new player in the automotive industry, focusing on a broader scope beyond traditional vehicle manufacturing, including smart drones and industrial robotics [2][4]. Company Overview - Cloud Realm Intelligent has a registered capital of 24.8 million yuan, with a diverse shareholder structure including Shenzhen Kanghu New Energy Transportation Development Co., Ltd. (35%), Sichuan Yema Automobile Co., Ltd. (25%), and others [2]. - The company aims to create an integrated transportation solution that combines land and air mobility, positioning itself as a technology enterprise rather than a conventional car manufacturer [2][5]. Shareholder Dynamics - Sichuan Yema, a company currently undergoing bankruptcy restructuring, holds a significant stake, raising industry interest due to its historical value and production qualifications [2][3]. - The partnership allows Cloud Realm to leverage Yema's existing manufacturing capabilities and supply chain, which are considered valuable assets despite Yema's operational challenges [3][4]. Industry Trends - The automotive industry is witnessing a shift where traditional manufacturing assets are being revitalized through collaborations with technology and capital, exemplified by Cloud Realm's formation [4]. - The focus on integrating advanced technologies such as smart manufacturing and low-altitude flying vehicles aligns with broader industry trends, including the interest from companies like XPeng and GAC in flying cars [5]. Market Potential - The low-altitude economy in China is projected to reach 1.5 trillion yuan by 2025 and 3.5 trillion yuan by 2035, indicating significant growth potential for flying vehicles [5]. - Cloud Realm aims to differentiate itself in this emerging market by utilizing Yema's manufacturing foundation and the technological expertise of its other shareholders [5]. Challenges Ahead - Cloud Realm faces substantial challenges, including limited initial capital of 24.8 million yuan, which may hinder its ability to fund research and development in flying cars and robotics [6]. - The company must navigate high technical barriers related to aviation safety and regulatory compliance, which could impede its progress [6][7]. - Increasing competition from established players like Huawei and BYD, as well as regulatory uncertainties in the low-altitude vehicle sector, pose additional risks to Cloud Realm's success [6][7].