文｜新能源观 图/"创二代"母公司及其代表车型 进入2026年，新能源汽车市场将迈入增速放缓、存量竞争加剧的新阶段。尤其是开年宝马31款车型最高降30.1万元，特斯拉推出7年低息、5年0息的金融政 策，"价格战"硝烟再起。 | | 宝马各车型降价情况 | | | | | | --- | --- | --- | --- | --- | --- | | 车型播送 | 原建议零售价格 | 新建议零售价格 | 障价变额 | 障幅比例 | | | 7351 | 919,000 | 808,000 | 111,000 | 12,08% | T = | | 740Li 领先型 | 1,069,000 | 938,000 | 131,000 | 12 26% | | | 740Li 尊享型 | 1,269,000 | 1,128,000 | 141,000 | 11 11% | | | i7 eDrive50L 领先型 | 949,000 | 808,000 | 141,000 | 14.86% | | | i7 eDrive50L ■ | 1,169,000 | 988,000 | 181,000 | 15.49% | | ...

设计 | 甄 尤 美 撰文 | 杜 咏 芳 编辑 | 黄 大 路 如果要给2025年的中国汽车产业找一个关键词，你脱口而出的关键词会是什么？ 过去的这一年，一方面国家反内卷有了一定起色，一方面企业又在转型阵痛里磕磕绊绊。存量市场里拼杀血腥气没有一丝一毫的减少，出海寻找 出来面临全球格局变数，焦虑感是行业通病。 面对焦虑，轩辕矩阵CEO贾可说："出发了，就不必再焦虑"（ 贾可2026元旦献词 | 出发了，就不必再焦虑 ）。细读国内各大车企掌舵人2026新年 献词，倾听他们的回顾与展望，我们体会到了反焦虑的一种力量顽强浮现出来——那便是"进"。 不是那种顺风顺水的"进"，而是不服输、不躺平，咬着牙在泥泞里硬蹚出来的"进"。 新年伊始，《汽车商业评论》打捞中国汽车产业2026年新年献词，看2025年，中国汽车究竟"进"在何处？我们又将如何走向未来？ 共探新营销，共创新可能 2025年，"进"在何处？ 2025年，"进"在不再只看销量数字，而是看"含金量"。 北汽集团宣布自主品牌销量6年之后重回百万辆。他们强调这是一个"里程碑式的新'百万'"，其背后，是新能源占比的显著提升，是乘商协同发 力。 长安汽车则告诉大家，它 ...

2025年，恰逢"十四五"规划收官之年。经过5年的迅猛发展，中国汽车工业已经实现从"跟跑"到"领跑"的华丽转身，"以市场换技术"的旧时代， 以产品创新、技术创新向全球市场发起有力冲击。 作为央国企主力军，东风汽车旗下高端智慧新能源品牌岚图汽车无疑最为耀眼。跨越"十四五"，它已成为中国品牌高端化的一面旗帜：2025年，岚图全 年累计交付150169辆，同比增长87%，实现连年跃升，巩固了"央国企高端新能源第一品牌"形象。 连年跃升，深耕高端市场 2025年，中国汽车产业加速从"规模发展"迈向"价值创造"，从"跟随发展"转向"引领创新"，高端化成为实现"价值跃迁"的必答题。岚图汽车以创新为核 心引擎，以连年跃升之势加速引领中国汽车向上跃迁。 如今，岚图汽车已形成2026款岚图梦想家、岚图泰山、岚图追光L"三旗舰"和岚图FREE+、全新岚图知音"SUV双子星"矩阵，成为中国首个实现SUV、 MPV、轿车全品类车型量产的高端新能源品牌。此外，岚图汽车还成为首个达成30万辆规模的央国企高端新能源品牌。 其中，岚图梦想家连续多月蝉联高端MPV销量冠军，单车均价突破40万元，实现"每卖出3台高端MPV，就有1台是岚图梦想家 ...

文 | 电厂，做则会 | 花子健、翟芳雪，编辑 | 高宇雷 2023年，中国汽车出口量达到522万辆，同比增长57.4%，首次超越日本成为全球第一大汽车出口国。 2024年保持了19%的年增长，巩固了全球第一汽车出口大国的位置。今年前10个月，汽车出口量已达 561.6万辆，同比增长15.7%，预计全年处于680-700万辆之间。 但是2025年，在整体增长的情况下，中国汽车对俄罗斯的出口出现了难以逆转的下滑。 今年前4个月，中国向俄罗斯的汽车出口量只有15.1万辆，同比减少超过50%。而今年前3个月的降幅是 39%。扩大到今年前三个季度，中国车企对俄罗斯出口量减少到只有35.77万辆，降幅进一步扩大到 58%。 在2024年，俄罗斯是中国汽车出口的最大市场。今年，排名前两位的变成了墨西哥和阿联酋，俄罗斯下 滑至第三位。 除了政策转向，中国汽车品牌在俄罗斯售后服务体系的缺失以及产品可靠性问题也成了影响出口的重要 因素。 俄罗斯渴望重建汽车工业 自2022年俄乌冲突爆发以来，欧洲、日韩在俄罗斯的合资车企先后撤出，俄罗斯汽车市场出现真空，也 破坏了俄罗斯的汽车工业体系。 随着俄乌冲突出现结束的曙光，俄罗斯从202 ...

Group 1: Leadership Changes - Dongfeng Group announced the board's recommendation to appoint Feng Changjun as the executive director, pending approval at the extraordinary general meeting, with an initial term of three years [1] - Following his appointment, Feng Changjun will also serve as the company's president and authorized representative under the listing rules [1] - Current executive director Yang Qing will no longer serve as the authorized representative but will continue as the executive director, chairman of the board, and a member of the remuneration and nomination committees [1] Group 2: Sales Performance - In November 2025, Dongfeng Group's sales reached 196,000 units, a year-on-year increase of 10.0%, with new energy vehicle (NEV) sales at 61,900 units, up 50.7% [5][14] - Cumulatively, from January to November 2025, total sales were 1.697 million units, a slight decline of 0.3% year-on-year, while NEV sales totaled 450,000 units, reflecting a growth of 40.6% [5][14] Group 3: Brand Performance - The growth in Dongfeng's sales is primarily attributed to the increase in NEVs, significantly driven by the performance of its own brands [16] - Lantu Motors achieved record sales in November, with 20,005 units sold, marking a 100% increase year-on-year, and cumulative sales for the first eleven months reached 132,632 units, up 92.0% [16] - The company has launched several models under Lantu, including the Lantu FREE and Lantu Dreamer, with the latest model, Lantu Taishan, being a large plug-in hybrid SUV [16] Group 4: New Product Launches - Dongfeng Nissan is accelerating its transition to new energy vehicles, with the launch of the Nissan N6 model on December 1, 2025, priced between 91,900 to 121,900 yuan [18] - The Nissan NX8, expected to launch in the first half of 2026, is designed as a mid-to-large-sized new energy SUV, featuring advanced battery technology and multiple powertrain options [20] - The market dynamics are shifting as domestic brands rise and joint ventures face unprecedented competition, indicating a critical transformation period in the Chinese automotive market [20][21] Group 5: Future Outlook - Dongfeng Group has significant opportunities for growth in enhancing its own brand capabilities and deepening its new energy business layout [21] - The ability to capture the core tracks of electrification and intelligence will be crucial for Dongfeng to overcome market challenges and seize new industry opportunities [21]

本报讯 （记者李万晨曦） 从2021年交付第一辆车岚图FREE到岚图泰山作为第30万辆整车下线，岚图汽车以创新突破的实干精神和扎实的产品实 力，交出了央国企高质量发展答卷。岚图汽车仅用7个月，实现从20万辆到30万辆的突破，持续刷新"国家队"发展速度，铸就 央国企高端新能源标杆。 在国家战略引领与产业政策推动下，岚图汽车以高端化、智能化、绿色化为方向，实现了从创立、成长到跨越的跃升，正 呈现出高速度、高质量的发展态势。 豪华轿车岚图追光L将于12月10日正式上市 在成功引领豪华SUV、MPV市场的同时，中国汽车品牌正在深入下一片阵地——豪华轿车市场。12月10日，新时代旗舰轿 车岚图追光L将以"破晓"之势登场，作为华系阵营压轴上市的重磅产品，用技术硬实力向BBA等合资豪华标杆发起正面挑战， 迎来属于中国高端豪华轿车的全新时刻。岚图追光L剑指长期被国外豪华品牌占据的豪华轿车市场，助力中国汽车品牌全面向 上发展。其新车全系搭载华为乾崑智驾ADS4与鸿蒙座舱HarmonySpace5，标配四驱系统及800V岚海智能超混，不仅达到410km 的纯电续航，更实现了20%－80%电量快充仅需12分钟，智能与豪华配置领先一 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has requested additional documentation from Lantu Automotive regarding its overseas listing application, focusing on state asset management procedures and compliance with investment approval processes [1][2]. Group 1: Regulatory Requirements - CSRC requires Lantu Automotive to clarify the management of state assets in the transaction and the compliance with overseas investment approval processes [1] - The commission also seeks details on the historical development and main business of Dongfeng Group, as well as the decision-making process for the transaction [1] - Additional information is requested regarding cash options for shareholders, the source of funds for any cash payments, and compliance with state asset management procedures during past equity changes [1] Group 2: Company Overview - Lantu Automotive targets the new generation of core consumers, with products priced between RMB 200,000 and RMB 500,000 [2] - The company began delivering its first model, Lantu FREE, in August 2021, with plans to produce its 100,000th vehicle by April 2024 and the 200,000th by April 2025 [2] - According to Zhaoshang Consulting, Lantu Automotive's sales are projected to grow at a compound annual growth rate (CAGR) of 103.2% from 2022 to 2024, making it the third fastest-growing high-end electric vehicle brand in China [2]

智通财经APP获悉，11月21日，中国证监会公布境外发行上市备案补充材料要求公示(2025年11月17日 —2025年11月21日)。证监会要求岚图汽车补充说明本次交易履行国有资产管理程序情况，履行境外投 资审批、核准或备案程序情况。据港交所10月2日披露，岚图汽车向港交所提交上市申请，中金公司为 其独家保荐人。据招股书，岚图汽车是东风公司旗下高端智慧新能源品牌。 同时，证监会要求其补充说明(1)东风集团股份的历史沿革及主营业务，就本次交易履行决策程序的情 况；(2)除公司股权外，东风集团股份股东是否有现金选择权，是否涉及现金支付，如有请说明资金来 源。公司设立时股东出资资产情况；公司历次股权变更履行国资管理程序情况；就公司历次股权变更合 法合规性出具结论性意见。 此外，说明补充说明开发、运营的网站、APP、小程序等产品情况，收集及储存的用户信息规模、数据 收集使用情况，是否涉及向第三方提供个人用户信息，上市前后个人信息保护和数据安全的安排或措 施。 招股书显示，岚图汽车的目标人群定位于新时代中坚力量，产品主要覆盖人民币20万元至人民币50万元 价格带。岚图汽车于2021年8月开始交付第一款车型岚图FREE， ...

Core Insights - In 2025, China's new energy vehicle (NEV) ownership is expected to exceed 38 million, accounting for over 10% of total vehicle ownership, with a market penetration rate projected to surpass 60% [1] - The shift in consumer purchasing motivations indicates a transition from reliance on policies and technology to a focus on user experience and comprehensive product value [1][4] User Decision-Making Changes - The core purchasing motivation has shifted from "policy" to "product," with driving experience, comfort, and smart features becoming the primary drivers [2] - The average number of factors considered by consumers during the purchasing process has increased from 4.2 to 5.9, with a heightened focus on vehicle safety and smart configurations [2] Competitive Landscape - The competitive landscape is evolving, with consumers comparing models like the Li Auto L6 against a range of pure electric and smart vehicles, indicating a shift to "cross-brand electric comparisons" [3] - The average range of pure electric vehicles has improved from 450 km in 2022 to 530 km in 2025, alleviating previous concerns about range anxiety [3] Industry Transformation - The industry is moving away from a policy-driven phase to a user-value-driven phase, as financial subsidies decline and market competition intensifies [4] - Key consumer demands include high cost-performance ratio, absolute safety, and advanced smart features, which are essential for purchasing decisions [5][6] Smart Features as a Market Differentiator - Smart features are becoming critical for high-end models, with excellent smart experiences helping products stand out, while mid-range models are rapidly evolving in this area [7] - The evolution of smart features is now a significant factor influencing user experience and attracting traditional fuel vehicle users to NEVs [7] Future Market Outlook - The automotive market is expected to become more competitive by 2026, facing challenges such as reduced subsidies and increased product homogeneity [8] - The implementation of new safety standards for electric vehicle batteries will raise safety benchmarks, while ongoing technological advancements will drive the industry towards a healthier value return phase [8]

Core Insights - In 2025, China's new energy vehicle (NEV) ownership is expected to exceed 38 million, accounting for over 10% of total vehicle ownership, with a market penetration rate projected to surpass 60% [1][5] - The shift in consumer decision-making reflects a transition from policy-driven motivations to a focus on user experience, with driving experience, comfort, and intelligent features becoming the primary drivers of purchase decisions [5][6] Market Trends - The average number of factors considered by consumers during the car-buying process has increased from 4.2 to 5.9, with a heightened focus on vehicle safety and intelligent configurations [6] - The competitive landscape is evolving, with consumers increasingly comparing electric models against each other rather than against traditional fuel vehicles [11] User Preferences - Users are moving from "basic anxiety" regarding range to a pursuit of quality, as the average range of pure electric vehicles has improved from 450 km in 2022 to 530 km in 2025 [12] - Key consumer demands include high cost-performance ratio, absolute safety, and advanced intelligent features, which are now essential for market competitiveness [12][21] Future Outlook - The market is expected to face intensified competition by 2026, with challenges such as reduced subsidies and increased product homogeneity, yet opportunities exist for products that genuinely meet consumer needs [22] - The implementation of new safety standards for electric vehicle batteries in July 2026 will raise safety requirements, pushing the industry towards healthier value recovery [22]