每经记者｜孙桐桐 每经编辑｜陈柯名 余婷婷 "花7万多元买辆次顶配SUV，内饰比20多万元的车还舒服，开着它跨省自驾一圈，相当于车钱和租车费都省了。"近日，合肥一位95后摄影工作者江先生 向《每日经济新闻》记者表示，今年8月，他用一笔划算到让人意外的交易，成为了哪吒L的车主。 在哪吒汽车深陷经营风波、被不少人避之不及的时候，江先生却主动跨省提车，用80天行驶6000公里的实际体验，印证了"价格到位就有市场"的消费逻 辑。 江先生与哪吒L的缘分始于去年5月，当时试驾完之后就对内饰、智能系统和零重力座椅十分心动，但14.99万元的裸车价让他犹豫了——哪吒汽车的经营 稳定性再加上提车周期长，江先生最终选择了观望。 江先生的哪吒L 图片来源：受访者提供 "我一直盯着它的价格变动，想着如果二手车能到心理价位就入手。"今年，江先生在车友群里发现了转机：广西地区的哪吒L有大幅优惠，叠加当地1.3万 元的置换补贴后，价格直接腰斩。一番计算下来，裸车价14.99万元的哪吒L 310闪充PRO版（次顶配），扣除4S店优惠和置换补贴，裸车仅需7.39万元。 再加上3800元的全险，落地总价为7.77万元。 这个价格彻底打动了江先生 ...

"花7万多元买辆次顶配SUV，内饰比20多万元的车还舒服，开着它跨省自驾一圈，相当于车钱和租车费都省了。"近日，合肥一位95后摄影工作者江先生向 《每日经济新闻》记者表示，今年8月，他用一笔划算到让人意外的交易，成为了哪吒L的车主。 在哪吒汽车深陷经营风波、被不少人避之不及的时候，江先生却主动跨省提车，用80天行驶6000公里的实际体验，印证了"价格到位就有市场"的消费逻辑。 "抄底"暴雷车，性价比是王道 花小钱办大事，正是消费者"抄底"暴雷车的初衷。 "我一直盯着它的价格变动，想着如果二手车能到心理价位就入手。"今年，江先生在车友群里发现了转机：广西地区的哪吒L有大幅优惠，叠加当地1.3万元 的置换补贴后，价格直接腰斩。一番计算下来，裸车价14.99万元的哪吒L 310闪充PRO版（次顶配），扣除4S店优惠和置换补贴，裸车仅需7.39万元。再加 上3800元的全险，落地总价为7.77万元。 这个价格彻底打动了江先生，而他原本就计划去广西自驾，"得知有车源后，当晚就转了定金，省了租车费还能拥有一辆新车，太划算了"。 8月23日，江先生从合肥飞往广西提车，随后开启了为期10天的跨省自驾，一路开回合肥，这段旅程也 ...

Core Viewpoint - The trend of young consumers purchasing "abandoned cars" from bankrupt car companies has gained attention, with many seeing it as an opportunity to buy vehicles at significantly reduced prices due to the companies' failures [1][2][5]. Group 1: Consumer Behavior - Young consumers are increasingly opting for vehicles from bankrupt brands like Neta, Jiayue, and HiPhi, viewing them as cost-effective options [1][5]. - A consumer named Jiang purchased a Neta L for 77,700 yuan, benefiting from a discount of 63,000 yuan after the company's bankruptcy, which he attributes to the attractive pricing [2][5]. - Another consumer, identified as Guan, bought a Jiayue 07 for 150,000 yuan, previously priced at 219,900 yuan, highlighting the perceived value in these "abandoned cars" [5][7]. Group 2: Market Dynamics - The automotive industry is undergoing a "淘汰赛" (elimination race), with many well-known new energy vehicle brands facing bankruptcy or restructuring, indicating a significant shake-up in the market [9]. - Industry experts predict that between 2025 and 2027, many car companies will be eliminated due to intense competition and a lack of sustainable business models [9]. - The current market is characterized by a rapid growth in new energy vehicles, with significant sales increases reported by major players like BYD and Geely, indicating a shift towards high-quality development in the automotive sector [10][11].

Core Viewpoint - The trend of young consumers purchasing vehicles from bankrupt car companies, referred to as "zombie cars," is gaining attention, with brands like Neta, Jiayue, and HiPhi being popular choices among this demographic [1][4][5]. Group 1: Consumer Behavior - Young consumers are motivated to buy "zombie cars" due to lower prices resulting from the bankruptcy of these companies, allowing them to afford vehicles that would otherwise be out of their budget [2][4]. - Consumers like Jiang and Guan have shared their experiences of purchasing vehicles at significantly reduced prices, with discounts reaching up to 63,000 yuan for Neta L and 6,999 yuan for Jiayue 07 [4][5]. - The perception of value has shifted, with many young buyers focusing on the practical utility of these vehicles rather than brand reputation or resale value [6]. Group 2: Market Dynamics - The automotive industry is undergoing a "淘汰赛" (elimination race), with many well-known new energy vehicle brands facing bankruptcy or restructuring, indicating a significant shake-up in the market [7][8]. - Industry experts predict that between 2025 and 2027, many companies will be eliminated from the market due to intense competition and a lack of innovation [8]. - The current market is characterized by rapid growth, with the retail sales of new energy vehicles in China reaching 1.4 million units in October 2025, a 17% year-on-year increase, and a penetration rate of 58.7% [9]. Group 3: Sales Performance - Leading companies like BYD and Geely are experiencing substantial sales growth, with BYD achieving a record monthly sales figure of 441,700 units in October [10]. - New energy vehicle sales from emerging brands are also increasing, with companies like Leap Motor and Hongmeng Zhixing reporting record deliveries, indicating a competitive landscape [10]. - The overall automotive market in China is transitioning towards a model dominated by new energy vehicles and exports, suggesting a shift in industry focus and strategy [10].

Core Insights - Young consumers are increasingly purchasing vehicles from bankrupt car companies, viewing them as opportunities for cost savings and value [1][2][4] - The phenomenon reflects a broader trend in the automotive industry, where many new energy vehicle brands are facing significant challenges and potential closures [8][9] Group 1: Consumer Behavior - Young consumers, such as a 28-year-old named Jiang, are motivated to buy vehicles from bankrupt brands like Neta due to substantial discounts, with one vehicle's price dropping from 149,900 yuan to 77,700 yuan after the company's bankruptcy [2][4] - Another consumer, referred to as Guan, purchased an Extreme A07 model for 150,000 yuan, down from an original price of 219,900 yuan, highlighting the appeal of these "abandoned cars" for budget-conscious buyers [4][6] - The trend is not impulsive; many buyers had previously considered these vehicles but were deterred by high prices and long wait times, with bankruptcy providing a new purchasing opportunity [6][7] Group 2: Industry Context - The automotive industry is undergoing a "淘汰赛" (elimination race), with numerous well-known new energy vehicle brands like WM Motor, HiPhi, Neta, and Extreme facing operational difficulties or closures [8][9] - Industry experts predict that between 2025 and 2027, many companies will either grow stronger or be eliminated from the market due to intense competition and a potential end to price wars [9] - Despite the challenges, the overall Chinese automotive market is experiencing rapid growth, with significant increases in new energy vehicle sales and market penetration [10][11]

Core Insights - The article discusses the rise and fall of several new energy vehicle companies in China, particularly focusing on Neta, WM Motor, and HiPhi, highlighting their initial successes and subsequent failures due to strategic missteps and market competition. Group 1: Neta's Rise and Fall - Neta achieved remarkable success in 2022, selling 152,000 vehicles and becoming the top-selling new energy vehicle brand, leveraging its "high value for money" strategy with models like Neta V and Neta U [1][40]. - The Neta V, priced between 70,000 to 90,000 yuan, offered significant space and features compared to competitors, which were mostly microcars [4][10]. - However, Neta's reliance on low pricing and high volume led to low profit margins, and its sales strategy heavily depended on dealers, resulting in inflated sales figures that did not reflect actual consumer demand [41][40]. Group 2: Strategic Errors - Neta faced critical strategic errors in 2023, particularly during a price war initiated by Tesla, which led to a significant drop in sales, with a year-on-year decline of over 30% starting in June 2023 [42][46]. - Instead of adjusting prices to remain competitive, Neta launched a new model, the Neta S, at a higher price point, which failed to attract consumers in a highly competitive market [47][48]. - The company continued to pursue a "brand upgrade" strategy with the introduction of the Neta GT, which diverted resources from more viable projects and ultimately led to a decline in overall sales [50][55]. Group 3: WM Motor's Challenges - WM Motor, founded by industry veteran Shen Hui, initially gained traction with its EX5 model, but failed to establish a strong brand identity compared to competitors like NIO and Xpeng [14][60]. - The company struggled with quality issues, including multiple recalls and incidents of vehicle fires, which undermined its reputation for reliability [80][87]. - WM Motor's lack of a distinctive market position and reliance on traditional automotive strategies contributed to its decline, as it could not compete effectively against brands with clearer identities [88][62]. Group 4: HiPhi's Strategy and Market Position - HiPhi attempted to replicate Tesla's high-end strategy with its HiPhi X and HiPhi Z models, but faced challenges due to overlapping market segments and increased competition [28][32]. - The company invested heavily in marketing and infrastructure but failed to achieve significant sales, leading to financial difficulties and a lack of market presence [38][39]. - HiPhi's inability to adapt to the rapidly changing market dynamics and its reliance on a narrow product strategy ultimately led to its downfall [36][55]. Group 5: Market Dynamics and Conclusion - The article emphasizes that the new energy vehicle market in China is highly competitive, with companies needing to adapt quickly to changing consumer preferences and pricing pressures [44][45]. - The ability to secure funding and successfully navigate the IPO process has proven crucial for survival, as seen with companies like NIO and Xpeng, which managed to leverage market conditions to their advantage [92][93]. - In contrast, Neta, WM Motor, and HiPhi's failures highlight the importance of strategic flexibility and the risks of adhering to outdated business models in a fast-evolving industry [55][94].

Core Viewpoint - The emergence of "zero-kilometer used cars" in China's second-hand car market, primarily consisting of nearly new vehicles with minimal mileage, is creating a distorted market dynamic that poses risks to consumers and the industry as a whole [1][4][5]. Group 1: Market Dynamics - A significant portion of the second-hand car market consists of vehicles with a registration date of less than three months and mileage under 50 kilometers, accounting for 12.7% of the market, with over 60% being new energy vehicles [4]. - The pricing of these zero-kilometer used cars is 15% to 30% lower than that of new cars, making them attractive to consumers [1][4]. - The practice of registering new cars under employee or affiliated company names to create a false sales record is a common strategy among dealers to manage inventory and sales data [5][6]. Group 2: Financial Pressures - Automotive companies face significant inventory and cash flow pressures, leading them to adopt quick turnover strategies, even at reduced profit margins, to avoid further depreciation of unsold vehicles [5][6]. - Some dealers resort to registering new cars as used cars to meet sales targets and obtain manufacturer rebates, despite the lower profit per vehicle [6]. Group 3: Consumer Risks - Consumers purchasing zero-kilometer used cars lose essential warranties, particularly on critical components like the battery, which can lead to high replacement costs [9]. - The quality of these vehicles is often questionable, as some may include test drive or display models, which could have hidden issues [9]. Group 4: Market Disruption - The proliferation of zero-kilometer used cars disrupts the traditional used car market, making it difficult for legitimate used car dealers to compete [11]. - The pricing chaos leads to a situation where new cars are priced lower than used cars, undermining the market's pricing structure and brand value [11]. Group 5: Regulatory Response - The Ministry of Commerce has initiated measures to regulate the zero-kilometer used car phenomenon, including establishing a traceability system for vehicles throughout their lifecycle [13]. - Proposed regulations aim to restrict the immediate resale of newly registered vehicles as used cars, addressing the short-term arbitrage opportunities [13]. Group 6: Industry Recommendations - The industry is encouraged to shift focus from sales volume to product quality and technological innovation, moving away from a sales-centric evaluation system [15]. - Consumers are advised to consider vehicle quality and after-sales service rather than solely focusing on price when purchasing cars [15].

Core Viewpoint - The article discusses the phenomenon of young consumers purchasing "exploded" electric vehicles at significantly discounted prices, highlighting a shift in consumer perception and behavior towards car ownership and brand loyalty in the electric vehicle market [4][22]. Group 1: Market Dynamics - The electric vehicle market is experiencing a price war, with companies like BYD offering substantial discounts on popular models, prompting competitors like Geely and Xpeng to follow suit [6][8]. - Several electric vehicle manufacturers, including HiPhi, Jidu, and Neta, have faced operational crises, leading to a surge in discounted inventory vehicles that attract price-sensitive consumers [5][6][25]. Group 2: Consumer Behavior - Young consumers are increasingly willing to purchase vehicles from brands that have faced financial difficulties, viewing the risk as manageable and the potential savings as worthwhile [22][24]. - The perception of cars has shifted from being long-term investments to more disposable items, with consumers now considering a 3-5 year usage period acceptable [21][22]. Group 3: Vehicle Features and Pricing - The article emphasizes that the "exploded" vehicles often come with high-end features at significantly lower prices, making them attractive options for consumers looking for value [12][26]. - For instance, the Geely Extreme 07 offers features comparable to higher-priced models, such as a large battery and advanced technology, at a fraction of the original price [12][13]. Group 4: Purchasing Process - The process of buying "exploded" vehicles is more complex, often requiring consumers to navigate unofficial channels and verify vehicle conditions themselves [6][19]. - Many consumers report using social media and online platforms to find and purchase these vehicles, indicating a shift in how car sales are conducted in the wake of brand crises [18][19]. Group 5: Brand Loyalty and Trust - Despite the risks associated with purchasing from brands that have "exploded," many consumers maintain a level of trust in the product quality, believing that operational issues do not necessarily reflect the vehicle's performance [22][23]. - The article notes that younger consumers are less brand-loyal and more focused on the vehicle's specifications and price, leading to a reevaluation of traditional brand perceptions in the automotive market [25][26].

Core Viewpoint - The article discusses the phenomenon of young consumers purchasing "exploded" electric vehicles from companies that have faced financial difficulties, highlighting a shift in consumer perception and behavior towards car ownership and brand loyalty [5][7][26]. Group 1: Market Dynamics - The electric vehicle industry is undergoing a "淘汰赛" (elimination race), with companies like HiPhi, Jiyue, and Neta facing significant challenges, leading to drastic price reductions on their inventory and second-hand vehicles [7][8]. - The price war in the new car market is intensifying, with companies like BYD offering substantial discounts, prompting competitors like Geely and Xpeng to follow suit [7][8]. - Young consumers are increasingly willing to purchase vehicles from companies that have "exploded," viewing them as cost-effective options despite the associated risks [7][26]. Group 2: Consumer Behavior - The perception of cars has shifted from being long-term durable goods to more disposable items, with consumers now considering shorter ownership periods and prioritizing features over brand loyalty [8][26]. - Many young buyers are motivated by the attractive configurations and pricing of "exploded" vehicles, often comparing them favorably against higher-priced models [16][31]. - Consumers are willing to take risks on these vehicles, believing that quality issues are unlikely and that they can manage potential problems [26][27]. Group 3: Purchase Process - The process of buying "exploded" vehicles is more complex, often requiring consumers to navigate unofficial channels and verify vehicle conditions themselves [7][20][23]. - Many buyers have reported using social media and online platforms to find inventory from struggling companies, often traveling significant distances to complete purchases [20][23]. - The lack of official sales channels has led to a rise in alternative sales methods, with former employees of these companies now selling leftover inventory [20][22]. Group 4: Vehicle Features and Comparisons - The article highlights the competitive features of "exploded" vehicles, such as the Jiyue 07 and Neta L, which offer high-end configurations at significantly reduced prices compared to their original market positions [16][17]. - The Jiyue 07, for example, is noted for its spaciousness, large battery, and advanced technology, making it a compelling option in the 140,000 RMB price range [16][17]. - The article emphasizes that the current market allows for vehicles with premium features to be available at lower price points, challenging traditional pricing structures in the automotive industry [30][31].

Core Viewpoint - The article discusses the phenomenon of young consumers purchasing "exploded" electric vehicles at significantly discounted prices, highlighting a shift in consumer perception towards automotive purchases and the impact of market dynamics on pricing strategies [5][7][28]. Group 1: Market Dynamics - The electric vehicle (EV) market is experiencing a brutal price war, with companies like BYD offering substantial discounts on popular models, prompting competitors like Geely and Xpeng to follow suit [7][14]. - The emergence of "exploded" vehicles, which are models from companies that have faced financial difficulties, has led to significant price reductions, making them attractive to budget-conscious consumers [9][14]. - The article notes that the pricing strategy in the EV market is less stable compared to traditional vehicles, with configurations and features becoming the primary focus for consumers rather than brand loyalty [27][28]. Group 2: Consumer Behavior - Young consumers are increasingly willing to purchase vehicles from companies that have faced bankruptcy, viewing the products as having good value due to their features and specifications, rather than being deterred by the brand's financial issues [23][28]. - The article highlights that many buyers are motivated by the desire for high-specification vehicles at lower prices, leading them to compare their purchases against higher-priced models [14][28]. - The perception of vehicles as disposable and the willingness to change cars every few years has shifted consumer attitudes, making them less concerned about long-term brand reliability [8][25]. Group 3: Vehicle Specifications - The article provides a comparison of specifications between various models, indicating that "exploded" vehicles often offer features that rival those of higher-priced competitors, such as large batteries and advanced technology [15][14]. - For instance, the Geely Extreme 07 offers a C-class space and a large battery at a price point of 140,000 yuan, which is significantly lower than similar models from competitors [14][15]. - The article emphasizes that the current EV market is characterized by "over-specification," where vehicles are equipped with features that were previously exclusive to higher-end models [27][28]. Group 4: Sales Channels and Challenges - Following the bankruptcy of certain manufacturers, traditional sales channels have been disrupted, leading consumers to seek vehicles through non-official channels, which can complicate the purchasing process [21][18]. - The article mentions that buyers often face challenges in verifying the condition of vehicles and ensuring proper warranty coverage, as many of these transactions occur outside of established dealership networks [21][22]. - Despite the risks, many consumers are willing to navigate these challenges, believing that the potential savings outweigh the uncertainties associated with purchasing "exploded" vehicles [23][25].