反观中国新能源车市场，另一组来自乘联分会的数据显示，2024年中国新能源乘用车市场零售同比增长 40.7%，2025年10月自主品牌新能源车渗透率已攀升至77.9%，市场格局的剧变正倒逼合资车企加速战 略转型。 在此背景下，广汽丰田直指"姊妹车"的同质化竞争调整产品策略，其在本届广州车展上带来的新车铂智 7，是继铂智3X之后，第二款由丰田中国工程师团队主导研发的车型，并配备了"豪华新三件"——双腔 空悬、鸿蒙座舱与激光雷达智驾，且这款车并不会衍生出一汽丰田版本。 在2025广州国际车展期间，广汽丰田以一场24小时双车连发的动作，正式宣告"油电同强"战略全面落 地。全新威兰达与铂智7的相继登场，不仅打破了近期市场关于"广汽丰田停产燃油车"的不实传闻，也 标志着这家合资车企正在告别丰田长期推行的"姊妹车"产品策略，期望以差异化产品布局重构竞争力， 冲刺2028年实现百万产销量的目标。 回溯过往，丰田长期推行的"姊妹车"战略曾是其抢占中国市场的关键抓手。这一模式下，同一核心车型 经细节调整后，分别交由广汽丰田与一汽丰田销售，例如广汽丰田的威兰达以及雷凌，分别对应一汽丰 田的RAV4荣放和卡罗拉。2022年，广汽丰田 ...

反观中国新能源车市场，另一组来自乘联分会发布的数据显示，2024年中国新能源乘用车市场零售同比 增长40.7%，2025年10月自主品牌新能源车渗透率已攀升至77.9%，市场格局的剧变正倒逼合资车企加 速战略转型。 在此背景下，广汽丰田直指"姊妹车"的同质化竞争调整产品策略，其在本届广州车展上带来的新车铂智 7，是继铂智3X之后，第二款由丰田中国工程师团队主导研发的车型，并配备了"豪华新三件"——双腔 空悬、鸿蒙座舱与激光雷达智驾，且这款车并不会衍生出一汽丰田版本。 不过，战略调整不等于停产燃油车。广汽丰田也在对燃油车产品线进行差异化升级。全新威兰达便是采 用丰田全新电子电气架构的首款车型，也是其首台"域控"燃油SUV。广汽丰田表示，以前买油车，车机 出厂即终版，智舱智驾迟迟不上新，根源在于传统油车大多采用分布式电子电气架构，"发动机、变速 箱、车机、驾驶辅助等模块各由独立的电子单元控制，缺乏有效的协同联动，升级迭代也只能在单一功 能上进行修补"。而新一代威兰达，则通过域控架构实现算力集中、资源整合，可像电车一样实现持续 OTA升级。 在产品端的差异化布局之下，广汽丰田也同步定下了新的产销目标：2026年实现 ...

Group 1: New Energy Vehicle Market - From November 1 to 16, the retail sales of new energy vehicles in the passenger car market reached 554,000 units, a year-on-year increase of 2%, and a month-on-month increase of 7% [1] - Cumulative retail sales of new energy vehicles for the year reached 10.703 million units, representing a year-on-year growth of 21% [1] - Wholesale of new energy vehicles by manufacturers during the same period was 618,000 units, a year-on-year increase of 1% and a month-on-month increase of 17% [1] Group 2: Charging Infrastructure - As of the end of October, the total number of electric vehicle charging facilities in China reached 18.645 million, a year-on-year increase of 54% [1] - Public charging facilities accounted for 4.533 million units, with a year-on-year growth of 39.5% [1] - Private charging facilities reached 14.112 million units, showing a year-on-year increase of 59.4% [1] Group 3: Corporate Appointments - Liu Wei has been appointed as the Chief Accountant and a member of the Party Committee of Dongfeng Motor Group [2] Group 4: Production Plans and Investments - Toyota plans to invest $912 million in five factories in the U.S. to enhance hybrid vehicle production in response to growing demand [6] - The new production lines are expected to start operating from 2027 [6] - Wuling Hongguang EV, the first new energy product from the Hongguang series, is set to be launched in 2026 [4] Group 5: Recall Information - Ford is recalling 229,609 Bronco vehicles in the U.S. due to a fault in the dashboard display screen [5] - The recall will be addressed through dealer service or OTA software updates [5] Group 6: Clarifications on Production Plans - XPeng Motors clarified that reports about producing thousands of autonomous taxis annually from 2026 to 2027 are inaccurate and not based on official data [3]

文 | 汽车像素(ID:autopix)，作者 |张文舟，编辑｜冒诗阳 01.广汽丰田将停产多款主销油车 配合丰田中国的战略目标，南北丰田两合资公司将按照自身的节奏，精简自己的燃油车产品线。 我们独家了解到，广汽丰田至少有两款主力燃油车会在2026年停产，一款是近期月销千余辆的紧凑级轿 车，另一款是月销过万的中型SUV。 合资车企都重视年销量规模，主力燃油车型数量缩减，给业绩带来的阵痛很难避免。广汽丰田今年前10 个月累计销量63.91万辆，停产的两款车贡献了其中近13万辆，约占到总销量的五分之一。 广汽丰田停产的两款车中，其中一款正临近中期改款，新车上市后预计只有一年左右的销售周期。 主销油车"断舍离"，在合资车企中不多见。广汽丰田之所以这么做，原因之一是丰田中国正在调整产品 策略，改变在两合资公司投放"姊妹车型"的做法。 "姊妹车"是合资车企的常见策略，会对一款主销车做小幅的差异化调整，后分别投放在两家合资公司 中。丰田在中国市场已沿用20多年，比如广汽丰田的凯美瑞、威兰达、雷凌，都能在一汽丰田的产品谱 系中找到对应的亚洲龙、RAV4、卡罗拉。 姊妹车的打法适用于快速增长时期的中国汽车市场，可以短时间聚集 ...

Core Viewpoint - Toyota, as a consistent participant for eight years, showcased its latest developments in China, localized product technology, collaborative achievements with Chinese partners, and diverse solutions for mobility freedom at the 8th China International Import Expo (CIIE) [2][3][12] Group 1: Product and Technology Innovations - Toyota emphasized its "TO YOU" concept, focusing on creating localized products and solutions tailored to individual user needs, contrasting with typical industry competition strategies [3][10] - The company introduced the bZ series of electric vehicles, including the bZ5 and the GR YARIS, highlighting their unique features and market positioning [5][6][11] - Toyota's hydrogen fuel cell technology was showcased with the 49t hydrogen fuel cell tractor, developed in collaboration with China National Heavy Duty Truck Group, aimed at enhancing green logistics [7][12] Group 2: Market Strategy and Localization - The company is committed to deepening its localization efforts in China, establishing the Lexus (Shanghai) New Energy Co., which combines global product offerings with local production [6][12] - Toyota's R&D system in China, known as RCE, aims to accelerate the development of products that meet local consumer preferences and driving habits [10][12] - The introduction of the "Multi-Pathway" approach in new energy technology reflects Toyota's strategy to provide diverse options for users [4][10] Group 3: Commitment to Sustainability and Mobility for All - Toyota's commitment to "Mobility for All" includes developing vehicles with welfare features for the elderly and disabled, such as the Elfa welfare version and RAV4 welfare trial version [9][12] - The company is actively pursuing carbon neutrality through initiatives like the Sweep energy storage system, which addresses battery recycling challenges [11][12] - Toyota's focus on intelligent manufacturing and collaboration with local partners aims to enhance the overall automotive ecosystem in China [9][12]

Core Points - BYD has launched a lightweight electric vehicle (EV) named "RACCO" specifically designed for the Japanese market, with a price expected to be below 2 million yen (approximately 93,000 RMB) [2][4] - Lightweight vehicles account for 40% of new car sales in Japan, and BYD aims to leverage this segment to boost EV adoption in a market where EV penetration is currently the lowest among developed countries [2][7] - The lightweight EV "RACCO" is set to be launched in the summer of 2026 and will comply with Japan's unique standards for lightweight vehicles, which include specific size and tax benefits [4][7] Market Context - The average retail price of lightweight vehicles in Japan is projected to be 1.63 million yen (approximately 75,800 RMB) in 2024, highlighting the importance of competitive pricing for EVs to gain market share [7] - BYD's competitive advantage lies in its ability to produce low-cost vehicles through vertical integration, starting from battery production [7][11] - The Japanese EV market is characterized by a low penetration rate of only 1-2% for new car sales, significantly lower than the approximately 20% in overseas markets, primarily due to underdeveloped charging infrastructure and high EV prices [7][8] Competitive Landscape - Other Japanese manufacturers, such as Suzuki, are also entering the lightweight EV market, with Suzuki planning to launch its own lightweight EV by 2026 [7][8] - There are signs of price competition emerging in Japan, with BYD and Toyota both reducing prices for their EV models in response to market dynamics [11] - The introduction of lightweight EVs is seen as a potential catalyst for increasing EV adoption in Japan, aligning with urban driving needs and addressing the limitations of current EV range [8]

Core Viewpoint - Despite the heavy burden of U.S. auto tariffs, Toyota's balanced development and sales strategy in major regions like China and Europe has proven effective. However, risks remain in semiconductor and rare earth procurement [1][12]. Financial Forecast - For the fiscal year ending March 2026, Toyota forecasts a consolidated net profit of 2.93 trillion yen, a 39% year-on-year decline, which is an upward revision from the previous estimate of 2.66 trillion yen (44% decline) [1]. - Sales are expected to grow by 2% to 49 trillion yen, while operating profit is projected to decrease by 29% to 3.4 trillion yen, with upward adjustments of 500 billion yen and 200 billion yen respectively [3]. Regional Performance - Toyota's sales strategy has led to a balanced revenue structure across regions, with North America accounting for only 28% of total sales, lower than competitors like General Motors (56%) and Honda (47%) [8]. - In North America, local production increases have supported the launch of models like the Tundra and Tacoma, tailored to local demand [8]. - Sales in India increased by 14% to 160,000 units, while sales in Indonesia decreased by 18% to 120,000 units, with other regions providing effective support [8]. Production and Efficiency - The introduction of the Toyota New Global Architecture (TNGA) has improved production efficiency, reducing equipment investment and development time by 25% and vehicle costs by 10% compared to pre-TNGA levels [11]. - For the first half of the fiscal year, Toyota reported a 6% increase in sales to 24.63 trillion yen, with a 7% decline in net profit to 1.77 trillion yen, and a global sales increase of 5% to 5.26 million units, marking a historical high [11]. Supply Chain Risks - The automotive supply chain faces increased disruption risks amid U.S.-China tensions, particularly concerning semiconductor shortages, which are critical for production [12]. - The CFO expressed awareness of potential risks from U.S. economic policies, despite currently not seeing direct impacts [13]. Investment and Future Strategy - Toyota plans to continue significant investments in the U.S., with a recent announcement of an additional $88 million investment in a West Virginia plant, indicating a commitment to local production [14]. - The company is also focusing on software-defined vehicles (SDVs) and must prioritize advancements in autonomous driving technology to remain competitive [14].

Group 1 - Toyota unveiled the concept car of the Corolla, indicating the brand's intention to launch its first pure electric vehicle (EV) [2][4] - The initial Corolla was launched in 1966 and is a representative model of Toyota [2][4] - In addition to the EV, Toyota confirmed plans to introduce plug-in hybrid vehicles (PHV), hybrid vehicles (HV), and gasoline cars under the Corolla brand, although specific launch dates have not been announced [4] Group 2 - Toyota showcased the "IMV Origin," part of its global strategy vehicle series aimed at emerging markets, particularly in Africa, where only the chassis will be exported for local assembly [4] - President Akio Toyoda emphasized the innovative approach of "incomplete assembly" in Africa, highlighting the company's commitment to new manufacturing methods [4]

Core Viewpoint - The persistence of fuel vehicles in the Chinese market, despite the rapid growth of electric vehicles, indicates a market shift rather than a decline in demand for traditional cars [3][4][10]. Market Dynamics - In the first half of 2025, fuel vehicles accounted for 49.9% of total passenger car sales in China, translating to approximately 600 million units, despite a nearly 20 percentage point decline over five years [4]. - The retreat of joint venture brands in the 10-20 million yuan price range has created opportunities for domestic brands like Geely to fill the gap with higher configurations and lower prices [4][5]. - Consumer preferences are diverging, with first-tier city users leaning towards electric vehicles while lower-tier cities continue to favor fuel vehicles due to infrastructure and maintenance considerations [5]. Technological Advancements - Geely's new China Star series incorporates advanced technologies such as the GEEA 3.0 electronic architecture and AI systems, which were previously exclusive to electric vehicles, enhancing the appeal of fuel vehicles [6][7]. - The integration of smart features into fuel vehicles allows them to compete effectively in terms of user experience without the high costs associated with electric vehicle batteries [7]. Strategic Importance - Fuel vehicles serve as a stable cash flow source for Geely, providing financial support during the high-risk transition to electric vehicles [8]. - The China Star series acts as a bridge to reach lower-tier markets while maintaining profitability and funding for electric vehicle development [8]. Global Trends - The resurgence of fuel vehicles is not unique to China; similar trends are observed in Europe and Japan, where traditional vehicles are being re-evaluated in light of changing market conditions [9]. - Fuel vehicles are evolving to meet consumer demands for comfort and technology, positioning themselves as a balanced choice amidst the uncertainties of early electric vehicle adoption [9]. Future Outlook - While fuel vehicles may experience a temporary revival, they face long-term challenges from regulatory pressures and shifting consumer preferences towards electric vehicles [10][11]. - The success of products like the China Star may represent a final flourish for fuel vehicles, emphasizing the need for innovation and adaptation in a rapidly changing automotive landscape [11].

Core Viewpoint - The automotive industry is facing intense competition in the current market, with companies setting higher sales targets than the previous year, leading to potential overproduction and inventory issues [4][5]. Group 1: Sales Targets and Performance - Many automotive companies have set ambitious sales targets for 2025, but achieving these targets is challenging given the current market conditions [5]. - Among the companies analyzed, only XPeng has exceeded a 75% completion rate of its sales target, attributed to its conservative initial target setting [8]. - Companies like SAIC, Geely, BYD, and Xiaomi have also achieved over 70% completion rates [9]. Group 2: Market Trends and Consumer Behavior - The fourth quarter is critical for sales, especially with the upcoming tax incentives, prompting companies to accelerate new vehicle launches [5][12]. - Data from the "TQ Auto Flow" platform indicates a decline in foot traffic to dealerships during the National Day holiday compared to previous years, suggesting a potential decrease in consumer interest [14][16]. - The foot traffic data shows that some dealerships experienced lower visitor numbers than expected, with many consumers opting for travel instead of car shopping [14][19]. Group 3: Company-Specific Insights - For FAW Toyota, the main markets are Guangdong, Shandong, Jiangsu, and Zhejiang, with a notable decline in foot traffic during the holiday period [17][19]. - GAC Toyota's sales are also concentrated in similar regions, with a strong performance from hybrid and electric models, which accounted for about 50% of their total sales [22]. - Both FAW and SAIC Volkswagen reported lower foot traffic during the holiday compared to 2024, indicating challenges ahead for 2025 [24][30]. Group 4: New Energy Vehicle (NEV) Trends - NIO, XPeng, and Li Auto are experiencing growth in brand recognition and sales, with NIO achieving a total delivery of 201,000 vehicles by Q3 2025 [46]. - XPeng reported a significant year-on-year increase in deliveries, reaching 313,000 vehicles, but faces pressure on profitability and cost management [49]. - Li Auto's performance is lagging behind its ambitious target of 640,000 vehicles, with production delays affecting new models [51]. Group 5: Future Outlook - The competition in the NEV market is expected to intensify as traditional automakers introduce new models, potentially leading to price wars and increased mergers and acquisitions [54].