以下文章来源于字母榜 ，作者朱晓宇 字母榜 . 让未来不止于大 作者： 朱晓宇 今年三季度，宝马在华销量为14.71万辆，同比下降0.4%。而奔驰第三季度在华汽车销量12.51万 辆 同比降27%。 中大型豪华轿车"56E"市场（宝马5系、奥迪A6L、奔驰E级），同样出现以价换量的趋势。其中宝 马5系降幅最为显著，入门款从43.99万元下调至约26万元，降幅达40%；奥迪A6L与奔驰E级也分 别出现约14万和15万元的终端优惠。 中高端车型价格失守，对BBA的财务表现造成了直接冲击。2025年上半年，奔驰净利润同比暴跌 55.8%，奥迪净利润下滑37.5%，宝马净利润也下降了29%。 至此，由低到高的三大阵营中，仅剩超豪华"78S"市场（宝马7系、奥迪A8L、奔驰S级）尚未被全 面撼动。 然而，从2023年底开始，国产新能源又开始瞄准超豪华车的腹地。先是比亚迪推出仰望U8系列， 豪华版售价高达109.8万元；之后蔚来发布行政旗舰轿车ET9，直接对标78S；去年华为也开始参 与其中，发布了鸿蒙智行旗下最贵的一款行政级旗舰轿车尊界S800，同样对标BBA的超豪华轿 车。 来源：字母榜 -------------- ...

近日，宝马正式宣布将启动直销模式，这一计划最早将在2027年启动实施。 自下定决心以「新世代」产品全力启动转型之后，宝马就开始了漫长的孤独奔跑——告别了以燃油车为核心的产品时代，告别了以供应商为主力的合作研 发模式——今天，宝马也将告别传统4S经销商这个伙伴。 宝马尝试一个人解决所有问题：Panoramic iDrive车机系统、第六代eDrive电驱技术、全新电子电气架构。一切自研，就连销售他们都想要自己搞定。 可以说，宝马新世代是欧洲汽车在这个时代里转型的极致体现。也正因如此，它充满蒙眼狂奔的「勇感」，又似乎与新世界格格不入。 人尽皆知，欧洲对新能源汽车的认知与全球市场差异巨大：前者是在环保群体与政策的共同推动下围绕清洁能源展开，而后者，尤其是中国市场，本质上 是以新能源为载体、实则通过智能化打开局面。 如今宝马的产品特征，完美印证了宝马作为欧洲代表性豪门的思路与不足。宝马新世代在能源侧表现可谓不凡，800V高压平台以及预计900公里的续航都 是高水平；但相对而言，智能侧的说服力就显得很是薄弱，核心卖点甚至依旧围绕着抬头显示和下方的横向视平线长屏展开。这一概念宝马已经力推多 年，市场表现证明这几项卖点根本 ...

多车型最高优惠近10万元 大兴区百得利一汽奥迪4S店销售专员向新京报贝壳财经记者介绍，目前一汽奥迪新车价格处于全年低 点，近期推出的两款新车分别是一汽奥迪A5L和Q6L e-tron家族，后者为纯电车型，两款车都是全国统 一价，"十一"期间推出3000万感恩礼，购车可至高享价值3万元综合优惠，包括保客购车补贴、置换补 贴等。同时，店内传统热销产品A6L和Q5L目前也推出了限时市场政策，部分车型优惠力度接近10万 元。 该4S店对于购车用户还提供了"十一"购车抽手机、老客户抽半年或一年新车使用权、贴膜、脚垫、3次 保养等额外奖品。 "十一"黄金周期间，众多车企为抢占市场，抓住契机进行促销，豪华品牌也不例外。新京报贝壳财经记 者走访北京多家豪华品牌门店发现，黄金周期间优惠力度普遍大于平日。奔驰E300L、奥迪A6L等热门 车型中配版的落地价分别达46万、34万元，最高优惠幅度近10万元。 作为豪华品牌的北京奔驰也有较大优惠力度。据房山区波士畅达奔驰4S店销售人员介绍，十一黄金周 店内优惠力度相比平日更大，让利比往常多3000元。GLA 22、GLC 300中配车型落地价格分别降至20 万元、39万元。 较大幅度的 ...

Core Insights - In August 2025, the domestic passenger car recall market experienced significant activity, with a total of 499,254 vehicles recalled, marking an 80-fold increase compared to July [2] Group 1: Recall Statistics - A total of 17 recall announcements were made in August 2025 [2] - The top three brands by recall volume were Toyota (236,630 vehicles), BMW (230,503 vehicles), and Alfa Romeo (23,004 vehicles) [3] - Japanese and German brands accounted for over 90% of the total recalls, with Toyota and BMW alone representing 93.57% of the recalls [3] Group 2: Main Issues Leading to Recalls - The three primary issues leading to recalls in August were electrical system problems, issues with new energy vehicle components, and engine-related problems [4] - Toyota recalled 230,476 vehicles due to a control program issue that could cause a black screen on the instrument panel, affecting visibility of speed and warning lights [4] - BMW recalled 229,106 vehicles due to a monitoring mechanism issue that could lead to a loss of power in the high-voltage system, increasing collision risk [4] Group 3: Consumer Awareness and Communication - A significant 95.24% of consumers reported not receiving recall notifications, primarily learning about recalls through media or word of mouth [5] - 50% of consumers indicated they had experienced similar defects as those involved in the recalls, an increase of 10% from the previous month, highlighting communication gaps between manufacturers and consumers [5]

Core Insights - Jinan's automobile market has shown remarkable growth, with passenger car sales reaching 157,274 units from January to July, marking a year-on-year increase of 14.92% and ranking 18th among 200 cities in China [1][5] - The introduction of municipal subsidies has significantly boosted sales during traditionally slow months, with some dealerships reporting a 40% increase in sales [2][5] Group 1: Policy Impact - The municipal subsidy program has led to a surge in customer interest, with daily customer visits at dealerships increasing from five to fifteen groups [2] - The combination of national, provincial, and municipal subsidies has made the market resilient during the off-peak season, with a 10% increase in monthly sales reported by one dealership [2][5] - The subsidy program has evolved to include various incentives, such as fuel cards and insurance subsidies, enhancing the attractiveness of vehicle purchases [3][4] Group 2: Sales Performance - The sales data indicates that the most popular vehicle price range is between 150,000 to 250,000 yuan, with new energy vehicles seeing a 13.6% year-on-year increase in retail sales [6] - The municipal subsidy policy has driven over 30,000 new car sales and generated direct consumption exceeding 7 billion yuan in the first half of the year [5] - The ongoing promotional activities and subsidy programs are expected to continue, with a new round of subsidies announced for the second half of the year, amounting to 12 million yuan [6]

Core Insights - Jinan's automobile market has shown remarkable growth, with passenger car sales reaching 157,274 units from January to July, ranking 18th among 200 cities nationwide, and a year-on-year increase of 14.92% [2][3] Group 1: Policy Impact - The introduction of city-level subsidies has significantly boosted sales during traditionally slow months, with some dealerships reporting a 40% increase in sales [3] - The combination of "insurance subsidies + fuel subsidies" has attracted customers, leading to increased sales and customer retention [4][5] - Jinan's innovative subsidy programs have evolved, with the latest version offering multiple layers of support, including a total of 12 million yuan in subsidies for the second half of the year [5][6] Group 2: Sales Performance - The monthly sales figures indicate a strong performance, with March and June showing the highest growth rates of 33.41% and 22.75%, respectively [6] - The cumulative effect of the subsidy policies has led to over 30,000 new car sales and direct consumption exceeding 7 billion yuan in the first half of the year [6] - The most popular vehicle price range is between 150,000 to 250,000 yuan, with a notable increase in the retail sales of new energy vehicles [7] Group 3: Future Outlook - Jinan's government plans to continue its subsidy programs, with a new round of subsidies starting in September, offering up to 8,500 yuan in consumer packages [7] - The focus will remain on consumer demand, with ongoing efforts to enhance the automotive consumption environment and sustain the recovery trend in car sales [7]

Core Insights - The milestone of 3.5 million vehicles produced at the BMW Brilliance Da Dong plant highlights its significance as a benchmark production base for BMW in China [1] - The Da Dong plant has undergone significant upgrades since its establishment, evolving into a modern intelligent manufacturing base that integrates multiple production processes [1] - The new generation BMW 5 Series, produced at the Da Dong plant, showcases advanced technology and performance enhancements, reinforcing its status as a classic model in the luxury car segment [2] Group 1: Production Milestones - The Da Dong plant officially surpassed a cumulative production of 3.5 million vehicles, marking a significant achievement since its inception in 2003 [1] - The plant has produced over 2 million units of the BMW 5 Series, emphasizing its role as the cradle for this iconic model [1] Group 2: Technological Advancements - The AI Quality Next (AIQX) system represents a comprehensive automated quality management solution that ensures precision in production without manual intervention [3] - AI technology enhances various production stages, from quality checks to rapid simulations, significantly improving efficiency and responsiveness to consumer demands [4] Group 3: Product Features - The new BMW 5 Series features a groundbreaking design and advanced driving dynamics, including a synchronous motor that responds in 100 milliseconds and a braking system that reduces stopping distance by up to 20% [2] - The i5 M60 variant of the 5 Series achieves a peak torque of 795 Nm, elevating its performance to new heights [2]

Investment Rating - The industry investment rating is "Overweight," indicating an expected performance that is stronger than the benchmark by more than 5% over the next six months [35]. Core Insights - The report highlights that 26 car owners prefer gasoline vehicles due to several reasons, including high cost-performance ratio, concerns about electric vehicle (EV) battery replacement costs, lack of charging infrastructure, and perceived immaturity of EV technology [2][16]. - Nearly 50% of the surveyed owners do not have the conditions to install dedicated charging stations, which significantly influences their decision to stick with gasoline cars [2][16]. - The report also notes that while owners acknowledge the lower per-kilometer cost of EVs, this advantage diminishes for those who drive less than 10,000 kilometers annually [2][16]. Summary by Sections Section 1: Sample Size Introduction - The report is based on interviews with 26 car owners from seven major brands and 13 models, focusing on popular gasoline vehicles [6][7]. Section 2: Reasons for Not Choosing Electric Vehicles - The primary reason for not selecting EVs is the lack of charging infrastructure, with 42% citing this as a major concern [16][20]. - Other significant factors include skepticism about battery technology (15%) and anxiety over long-distance travel (12%) [20][23]. - The report indicates that the perception of EVs as less reliable and concerns over depreciation also play a role in the decision-making process [22][23]. Section 3: Future Considerations for Electric Vehicle Purchase - Many owners expressed that they would consider purchasing EVs if charging infrastructure improves or if they see more reliable performance from EVs in the future [24][25]. - The report categorizes potential future buyers into three groups based on their conditions for considering EVs, primarily focusing on charging solutions and vehicle quality [25].

Core Viewpoint - BMW (China) Automotive Trade Co., Ltd. and Brilliance BMW Automotive Ltd. will recall over 230,000 vehicles due to safety hazards related to the starter generator connection and high-voltage system issues [1][4]. Recall Details - The recall primarily involves electric i-series models, including domestic i3, i5, and imported i4, i7, and iX models, with significant numbers from the ix3 and i3 production runs [4]. - The ix3 model, produced from May 2020 to December 2024, has a recall count of 106,000 units, while the i3 model, produced from March 2021 to January 2025, has 95,800 units recalled [4]. Previous Recalls - BMW has conducted multiple recalls this year, including 80 imported 5 Series and 16,813 domestic 5 Series vehicles in May, and 3,736 imported X3 M40i and X4 M40i vehicles in April due to software issues [5][9]. - In total, BMW has recalled motorcycles three times this year for various safety concerns [9]. Sales Performance - BMW's sales in China have been declining, with a 13.4% drop in 2024 to 714,500 units, and a 15.5% decrease in the first half of this year compared to the previous year [11]. - The company reported a total of 317,900 units sold in the first half of 2023, reflecting ongoing challenges in the Chinese market [11]. Financial Performance - In Q2 2025, BMW's group revenue decreased by 8.2% to €33.93 billion, with a significant drop in EBIT by 31.4% to €2.66 billion [14][15]. - The automotive segment's revenue also fell by 8.2% to €29.44 billion, indicating pressure on the company's financial performance [14]. Management Changes and Future Plans - Birgit Böhm-Wannenwetsch has been appointed as the new CEO of Brilliance BMW, marking a significant leadership change [16]. - BMW plans to invest in the Chinese market, with over 20 new models set to launch in 2026 and 2027, including the first new-generation model to be produced in Shenyang [16].

Core Viewpoint - The automotive industry is undergoing a significant transformation as traditional fuel vehicles face increasing competition from electric vehicles (EVs), leading to a decline in the market share and resale value of fuel vehicles [4][5][10]. Market Trends - In July, the retail penetration rate of new energy vehicles (NEVs) in China's passenger car market reached 54.0%, a year-on-year increase of 2.7 percentage points. Cumulatively, 6.455 million NEVs were sold in the first seven months of the year, representing a 29.5% year-on-year growth [4][16]. - The second-hand fuel vehicle market is experiencing downward pressure on prices, with average inventory cycles extending to 43 days and 35.6% of businesses facing cycles over 30 days, indicating increased operational pressure [5][21]. Resale Value Decline - The resale value of previously high-value brands like Toyota and Honda is declining, with the three-year resale value for Toyota dropping to 56.6% from 83.24% in 2021, and Honda to 57% from 78.19% [10][13]. - Specific examples include a two-year-old Toyota Camry priced at 12.96 million yuan, reflecting a 65% resale value, down from higher values in previous years [6][8]. Shift to New Energy Vehicles - The second-hand market for NEVs is growing, with penetration rates rising from 8% to 9.9% in recent months, indicating a shift in consumer preference [16][18]. - Some second-hand car dealers are increasingly focusing on selling NEVs to compensate for the declining profits and sales of fuel vehicles [5][20]. Consumer Behavior - Consumers are showing a preference for NEVs, with many second-hand car dealers reporting that the inventory of NEVs is now greater than that of fuel vehicles [18][20]. - Despite the growth of NEVs, fuel vehicles still maintain a significant market presence, with many consumers still willing to purchase them if priced competitively [21].