尽管政策换挡引发车市阵痛，专家普遍认为这是阶段性调整， 长期将有利于推动车市向高质量转型。 作者：周菊 封图：本报资料室 农历腊月初十（1月28日），本是车市传统"年货采购"旺季，往年此时销售人员常忙得不可开 交。然而，经济观察报记者走访了北京多家品牌4S店后发现，今年的汽车展厅格外安静——车辆 整齐停放，销售人员或三两交谈，或低头刷手机，偶尔才有零星顾客到访。"1月客流明显减少， 购置税和补贴政策2025年底调整后，不少客户提前购车，我对春节前销量已不抱期望。"一位比 亚迪销售人员坦言，因为2月工作日比较少预计市场也不会太好，他已经做好这两个月收入锐减的 心理准备。 小鹏汽车销售人员同样感慨："上个月忙得脚不沾地，这个月突然就冷清了，政策调整作用太明 显。"广汽丰田的门店亦门可罗雀，一位销售人员表示，即便店内销售车型以燃油车为主，受新能 源购置税调整影响较小，但多数购车需求已在元旦前释放，市场进入"冷静期"。 上述多家4S店的冷清现状是当前车市下滑的一个缩影。中国汽车流通协会乘用车市场信息联席分 会（下称"乘联分会"）公布的数据显示，2026年1月1日至18日，国内乘用车零售67.9万辆，同 比下跌28%， ...

农历腊月初十（1月28日），本是车市传统"年货采购"旺季，往年此时销售人员常忙得不可开交。然而，经济观察报记者走访了北京多家品牌4S店后发现， 今年的汽车展厅格外安静——车辆整齐停放，销售人员或三两交谈，或低头刷手机，偶尔才有零星顾客到访。"1月客流明显减少，购置税和补贴政策2025年 底调整后，不少客户提前购车，我对春节前销量已不抱期望。"一位比亚迪销售人员坦言，因为2月工作日比较少预计市场也不会太好，他已经做好这两个月 收入锐减的心理准备。 小鹏汽车销售人员同样感慨："上个月忙得脚不沾地，这个月突然就冷清了，政策调整作用太明显。"广汽丰田的门店亦门可罗雀，一位销售人员表示，即便 店内销售车型以燃油车为主，受新能源购置税调整影响较小，但多数购车需求已在元旦前释放，市场进入"冷静期"。 上述多家4S店的冷清现状是当前车市下滑的一个缩影。中国汽车流通协会乘用车市场信息联席分会（下称"乘联分会"）公布的数据显示，2026年1月1日至18 日，国内乘用车零售67.9万辆，同比下跌28%，环比下跌37%。其中，新能源乘用车出现罕见大幅下滑，零售销售为31.2万辆，同比下跌16%，环比腰斩，降 幅达52%，新能源汽车渗 ...

五菱在造"人民车"的征程中，不仅要市场规模，更要口碑持续提升。 如果说节节攀升的数据，已经印证了五菱市场销量上的成功，那全能硬派大空间SUV——星光560 的上市，则将以个性化、品质化持续抬升五菱的品牌形象。 2025年，五菱总产值再次突破1000亿元，同比增长24%；新能源汽车销量首次突破100万辆大关， 同比增长31.9%。其中，以"升级人民的出行品质"为品牌定位的五菱银标表现亮眼，宏光MINIEV家族 连续65个月蝉联A00级新能源汽车销量第一，累计销量突破185万辆，成为中国品牌纯电市场销量最高 的单一车型；星光家族全能舒享大7座车型——星光730上市49天销量突破2万辆，连续两个月蝉联15万 内MPV销量冠军。 在扎实的业绩之上，2026年伊始，星光560的登场再次为五菱注入新的活力，并助推品牌在品质化 路上再向前迈出一大步。凭借着硬派美学设计、越级的大空间、全场景适配的一车三动力和军工级安全 品质，星光560满足了用户对于多场景、高质价比出行的期待，让"生活大有奔头"。 造"人民车"的五菱，自然更知道当下人民需要什么，在"大车"盛行的当下，星光560魁梧的身材成 为加分项。星光560长宽高为474 ...

Core Insights - SAIC-GM-Wuling achieved significant growth in 2025, with total sales reaching 1,635,066 vehicles, a year-on-year increase of 6.2%, and a total output value surpassing 100 billion yuan, reaching 1000.2 billion yuan, up 24% from the previous year [1][3][17] Sales Performance - The company sold 1,000,066 new energy vehicles (NEVs) in 2025, marking the first time annual sales exceeded one million, with a year-on-year growth of 31.9%, leading the industry [1][3] - The penetration rate of NEVs reached over 61% in 2025, with 95% of passenger vehicles being new energy models, significantly above the industry average [4] Product Highlights - The Wuling Hongguang MINIEV family achieved cumulative sales of over 1.85 million units, becoming the best-selling single model in China's pure electric market [4] - The Baojun brand, as a partner of CCTV in smart mobility, recorded a total sales of 49,002 units in 2025, reflecting a year-on-year increase of 12.3% [4] Commercial Vehicle Sector - Wuling's red label brand sold 577,886 units in 2025, maintaining its position as the national champion in cumulative commercial vehicle sales, with NEV commercial vehicle sales reaching 148,166 units, leading the market [6] Export Growth - In 2025, SAIC-GM-Wuling exported 266,868 units, with NEV exports reaching 94,686 units, a remarkable year-on-year increase of 128.6% [8] - The company expanded into over 10 new markets, including Malaysia and Armenia, and now covers 104 countries and regions [8] Technological Advancements - The company implemented the "Intelligent Island Manufacturing System" (I²MS), recognized as a leading smart factory, and achieved significant breakthroughs in core technologies and green ecology during the 14th Five-Year Plan [10] - A strategic partnership with Huawei was deepened to enhance smart manufacturing, assisted driving, and intelligent cockpit technologies [14][15] Sustainability Initiatives - SAIC-GM-Wuling is actively promoting a green supply chain, including the first automotive parts chain using bamboo instead of plastic, and transitioning to aluminum instead of copper for parts [12] Future Outlook - As the company enters the 15th Five-Year Plan, it aims to leverage its strengths in AI and smart manufacturing to create more value for consumers and contribute to the high-quality development of the Chinese automotive industry [17]

Core Viewpoint - SAIC Motor Corporation has established a new growth framework with three main drivers: strong performance from its self-owned brands, rapid growth in new energy vehicles, and expansion in overseas markets, leading to a significant increase in overall sales in 2024 and 2025 [1][2][3] Group 1: Sales Performance - From January to November 2023, SAIC Motor sold 4.108 million vehicles, a year-on-year increase of 16.4%, surpassing the total sales of the previous year [2] - The sales of SAIC's self-owned brands reached 2.666 million units, up 25.7%, accounting for 64.9% of total sales, an increase of 4.8 percentage points compared to the same period last year [5] - New energy vehicle sales totaled 1.499 million units, reflecting a growth of 38.8% [5] - Overseas sales amounted to 969,000 units, with a year-on-year increase of 3.4% [6] Group 2: New Growth Drivers - The "new three drivers" of SAIC's growth include self-owned brands, new energy vehicles, and overseas markets, with self-owned brands showing the most significant growth [3] - The MG brand has become the best-selling Chinese brand in Europe, with 285,000 units delivered, a growth of over 25% [6] - SAIC's new energy vehicle sales have been bolstered by product and technology advancements, including the introduction of the MG4 semi-solid battery version [5] Group 3: Traditional Pillars - The traditional three pillars—SAIC Volkswagen, SAIC General Motors, and SAIC-GM-Wuling—remain stable, contributing over 70% of total sales [7] - SAIC-GM-Wuling sold 1.491 million units, SAIC Volkswagen sold 936,130 units, and SAIC General Motors sold 487,250 units from January to November [7] - SAIC Volkswagen is expected to exceed one million units in annual sales, supported by its transition to new energy products [8] Group 4: Future Potential - SAIC has identified two potential growth areas: Audi and the newly launched brand, Shangjie [10] - The Audi brand is implementing a dual-brand strategy and aims to establish itself as a young, tech-savvy luxury car manufacturer [10] - The Shangjie brand, developed in collaboration with Huawei, has received significant investment, with an initial funding of 6 billion yuan and a dedicated team of over 5,000 people [13][15]

Core Viewpoint - SAIC-GM Wuling is committed to the principle of "producing what the people need" and aims to be the best partner for those striving for success, showcasing its dedication to innovation and user-centric development [1][4]. Group 1: Event Highlights - The second "Tribute to Strivers" conference was held on November 18, featuring stories of strivers and emphasizing the core values of innovation, confidence, and passion [3]. - The event introduced the "Heaven, Spirit, God" technology system and the fully electrified Wuling red label product family, along with the launch of the "Macro Light Index" to reflect grassroots economic vitality [3][11]. Group 2: Historical Development - Wuling has evolved over 40 years, from becoming the top microcar brand in the 1990s to leading the global new energy commercial vehicle market today, maintaining a focus on user needs [4]. - The company has achieved significant sales milestones, with over 500,000 units sold in the commercial vehicle sector from January to October, including 122,430 units in the new energy segment, making it the market leader [4]. Group 3: Product and Technology Innovations - Wuling's red label has become a partner for many strivers, with models like Wuling Hongguang and Wuling Yangguang being recognized for their durability and affordability [4]. - The company is transitioning from merely manufacturing vehicles to defining the concept of striving, leveraging data and technology to enhance user experiences [5][13]. Group 4: New Initiatives and Support Programs - The "Strivers Special Program" was launched in collaboration with the China Red Cross Foundation, with an initial investment of 15 million yuan to support Wuling vehicle owners facing difficulties and to promote micro-entrepreneurship [19]. - The "Macro Light Index" was established to measure the vitality of grassroots strivers, with a target score of 121.45 by 2025, reflecting a new attitude and vitality among the workforce [11].

Core Insights - SAIC-GM-Wuling Automobile reported a total sales volume of 95,147 units for Wuling Silver Label in October 2025, representing a year-on-year increase of 17.3% [1] - The sales of the Hongguang MINIEV family surged by 79.8% year-on-year, reaching 61,506 units [1] - The Wuling Bingo family recorded sales of 26,673 units, while the Wuling Star family sold 4,542 units [1]

Group 1: Industry Overview - In August, the wholesale sales of new energy passenger vehicles in China reached 1.3 million units, representing a year-on-year increase of 24% and a month-on-month increase of 10%. Cumulatively, from January to August, the total wholesale sales reached 8.93 million units, up 34% year-on-year [1] - In the first eight months of 2025, Changan Automobile reported sales of 1,799,760 units, a year-on-year increase of 6.38% [5] - In August, the sales of new energy vehicles for Seres reached 43,262 units, marking a year-on-year increase of 19.57% [6] - In August, Qianli Technology's total vehicle sales reached 11,100 units, a significant year-on-year increase of 168.55% [7] - SAIC-GM-Wuling reported that the Wuling Silver Label sold 56,495 units in August, with the Hongguang MINIEV family seeing a year-on-year sales increase of 42.7% [8] Group 2: Company Developments - Tesla officially launched the first batch of Model Y L deliveries nationwide on September 2, with a starting price of 339,000 yuan [2] - NIO reported second-quarter revenue of 19.01 billion yuan, a year-on-year increase of 9.0%, with vehicle deliveries of 72,056 units, up 25.6% year-on-year [2] - BYD increased its registered capital from approximately 3.039 billion yuan to about 9.117 billion yuan, marking a 200% increase [4] - GAC Toyota's sales of the Platinum 3X model reached 7,324 units in August, setting a new monthly delivery record, with over 8,800 remaining orders [10] - Renault appointed former Mercedes-Benz executive Katrin Adt as the CEO of the Dacia brand [11]

Core Insights - SAIC-GM-Wuling achieved a total sales volume of 126,413 units in June 2025, representing a year-on-year increase of 32.1%. The sales of new energy vehicles reached 70,357 units, up 73.8% year-on-year [1] - In the first half of the year, the company's global cumulative sales reached 764,544 units, a growth of 18.3%, with new energy vehicle sales totaling 413,314 units, maintaining over 50% year-on-year growth for six consecutive months [1] - The company exported 125,539 units in the same period, marking a 17.1% increase, with new energy vehicle exports growing over 200% for three consecutive months [1] Wuling Red Label - Wuling Red Label recorded cumulative sales of 309,928 units in the first half of the year, a year-on-year increase of 10.4%. New energy vehicle sales reached 66,289 units, surging 293%, with sales proportion exceeding 23% for three consecutive months [4] - Specific models include the Wuling Yangguang family with cumulative sales of 28,580 units and the Wuling Hongguang family with 66,761 units, reflecting a growth of 45.7% [4] Wuling Silver Label - Wuling Silver Label achieved cumulative sales of 311,537 units in the first half of the year, up 27.4%. The Hongguang MINIEV family sold 171,064 units, a growth of 105.4%, surpassing 1.6 million cumulative sales [6] - The Bingguo family recorded 95,209 units sold, increasing by 33.1%, while the Xingguang family reached cumulative sales of 27,230 units [6] Baojun Automotive - Baojun Automotive's cumulative sales in the first half of the year reached 17,540 units, a year-on-year increase of 25.7%, maintaining growth for five consecutive months [8] - The brand focuses on technology application, with the Baojun Xiangjing premium version serving various governmental scenarios [8] Globalization Strategy - SAIC-GM-Wuling is actively expanding its overseas market presence, with products now available in 104 countries and regions. In June, the company exported 25,589 units, a 50.3% increase, with new energy vehicle exports reaching 8,448 units, also growing over 200% for three consecutive months [9] - The company aims to enhance its core competitiveness through a focus on "electrification, digitalization, and globalization" amid intense market competition [11] - The company has initiated local production and supply chain strategies in Indonesia and is exploring partnerships in Malaysia and Brazil to further its regional integration strategy [11]