2025年7月，中国汽车论坛，车圈大佬齐聚，奇瑞汽车董事长尹同跃的半脱稿发言活跃了现场氛围，但紧接上场的广汽董事长冯兴亚，一句话却如平地惊 雷："广汽已全面进入'战时状态'，全力打响关于未来的'三大战役'。" 退无可退，广汽和昊铂到达决战时刻。 激烈用词的背后是严峻的现实。今年1-9月，广汽累计销量为118.37万辆，同比下降11.34%。2025年中期报告显示，广汽同期净亏损25.38亿元，这是广汽集 团近10年来首次出现半年度亏损。昊铂作为广汽高端新能源品牌，销量更是惨淡。9月，昊铂全品牌售出2095辆——而小米一款SU7就售出1.96万辆。 "大象转身"的艰难在一连串疲软数据中表现得淋漓尽致。 作为一名入职广汽14年的"老兵"，身处"战时状态"的邱俊杰，也见证过广汽过往的黄金年代。时针拨回新能源浪潮刚刚兴起的那几年，他眼看着埃安作为广 汽先锋，销量蹭蹭上涨，1万、4万、12万再到40万辆，"过程令人振奋"，邱俊杰说。 昊铂HL增程版，是广汽"战时状态"下打出的"第一颗子弹"。这款车不仅首发搭载了"星源增程平台"，还确立了全新的设计语言："山海架构"，希望增强昊铂 品牌的辨识度。"我们企图通过昊铂HL对昊 ...

Core Insights - The report highlights the varying residual values of domestic automotive brands in China, with traditional strong brands like GAC and Geely maintaining stability, while brands like BYD show robust performance due to rapid electrification [1] - The shift from "market for technology" to "technology creates value" is emphasized as domestic brands evolve [1] Group 1: Electric SUVs - The pure electric mid-size SUV market is highly competitive, characterized by intense high-end battles and mainstream acceleration, with the Leado L60 achieving the highest residual value [3] - Tesla Model Y and ZEEKR 7X follow closely in the residual value rankings, indicating strong market acceptance [3] - In the compact electric SUV segment, the "Matthew effect" is evident, with top models like Song PLUS, AION Y, and Yuan PLUS establishing significant advantages due to technology and market reputation [7] Group 2: Plug-in Hybrid SUVs - In the plug-in hybrid compact SUV market, BYD's Song Pro and Song PLUS dominate the residual value rankings, showcasing the strength of BYD's DM technology [12] - The plug-in hybrid mid-size MPV market sees GAC's E9 leading in residual value due to its luxurious features and advanced battery management [16] Group 3: Compact Cars - In the popular compact car market, the Volkswagen Lavida ranks first in residual value, followed by the Volkswagen Sagitar and Audi A3, reflecting the strong foundation of German brands in China [17] Group 4: Mid-size SUVs - The domestic mid-size SUV market has established a stable value hierarchy, with GAC's GS8 leading in residual value due to its spaciousness and luxury features [21] - The competitive landscape in the mainstream joint venture mid-size SUV segment is dominated by German and American brands, with SAIC Volkswagen's Teramont achieving the highest residual value [23] Group 5: Japanese Brands - The price decline of Japanese brands like Toyota, Honda, and Nissan indicates a convergence in product quality, negatively impacting their residual values in the new energy era [25] - The increase in residual value for Volkswagen brands is attributed to strong contributions from their sedan products, while French brands face significant declines due to ongoing price wars [25]

Core Insights - The automotive sales of GAC Group showed a significant decline in July, with total sales dropping by 15.4% year-on-year to 119,482 units, and cumulative sales for the first seven months down by 12.9% to 874,782 units [4] Group Summaries GAC Honda - GAC Honda's July sales were 28,039 units, a decrease of 34.99% year-on-year, with cumulative sales for the year at 193,301 units, down 15.15% [1] - The decline is attributed to shrinking demand for fuel vehicles and inventory adjustments, with July sales dropping to 16,033 units, a sharp decline of 51.81% [1] GAC Toyota - GAC Toyota reported July sales of 57,903 units, an increase of 12.74% year-on-year, making it the only segment with positive growth [2] - Cumulative sales reached 406,815 units, reflecting a growth of 4.04% compared to the previous year [2] GAC Trumpchi - GAC Trumpchi's sales in July were 23,414 units, down 28.94% year-on-year, with cumulative sales at 176,537 units, a decline of 22.08% [1][2] - The brand's performance continues to struggle, with a year-on-year decrease of 6.66% in July sales [1] GAC Aion - GAC Aion's July sales were 18,849 units, a decrease of 35.51% year-on-year, with cumulative sales for the year at 151,851 units, down 10.40% [1] - The decline is attributed to intensified competition in the A-class electric vehicle market and adjustments in pricing strategies [2] New Energy Vehicles - GAC Group's new energy vehicle sales in July were 31,485 units, a slight decrease of 9.76% year-on-year, with cumulative sales at 218,617 units, nearly flat with a decrease of 0.08% [1][2] - The new energy segment accounted for 28.0% of total passenger vehicle sales, with Aion contributing approximately 70% of new energy sales, although its growth rate lagged behind the industry average [2] Vehicle Categories - In July, sedan sales plummeted by 43.5% to 30,300 units, while MPV sales fell by 26.8% to 17,200 units [3] - Conversely, SUV sales increased by 12.1% to 71,700 units, driven by strong demand for models like the Toyota Highlander and Trumpchi GS8 [3] Overall Production and Sales - GAC Group produced 128,490 vehicles in July, a decrease of 18.06% year-on-year, with total production for the first seven months at 930,155 units, down 8.48% [1][4] - The overall automotive market is facing challenges, with significant declines in various segments impacting total sales figures [4]