2025年，中国汽车出海在挑战中展现出强大的韧性与活力。 根据乘联会数据，2025年1-11月，中国汽车出口总量达733万辆，同比增长25%，再创新高，全年出口量有望超过800万辆。在整体向好的大趋势下，出口 的内部结构也发生了变化，曾经的"冠军"市场降温，新增长极迅速崛起…中国汽车出海格局正经历着一场重塑。 01 俄罗斯暴跌，欧洲、墨西哥补位 | 2024 年全年 | 出口量(万辆) | 2025 年 1-11 月 | 出口量(万辆) | | --- | --- | --- | --- | | 俄罗斯 | 115.8 | 墨西哥 | 57.35 | | 黑西哥 | 44.5 | 俄罗斯 | 51.31 | | 阿联酋 | 33.06 | 阿联酋 | 46.55 | | 比利时 | 28 | 世 | 28.51 | | 沙特 | 27.58 | 英国 | 28.08 | | 巴西 | 23.68 | 澳大利亚 | 27.84 | | 英国 | 19.48 | 比利时 | 27.58 | | 澳大利亚 | 17.80 | 沙特 | 26.58 | | 菲律宾 | 16.92 | 菲律宾 | 23.65 | | ...

Core Insights - The global sales of new energy passenger vehicles reached 17.36 million units from January to October 2025, representing a year-on-year increase of 30% [1][8] - In October 2025, global sales of new energy passenger vehicles were 2.11 million units, showing a year-on-year increase of 17% but a month-on-month decrease of 3% [1][8] - The market share of new energy vehicles in China is projected to be 68% by 2025, with a significant share of 75% in October 2025 [1][25] - The penetration rate of new energy vehicles globally is expected to reach 25.2% by the fourth quarter of 2025, with China leading at 49% [1][20] Global Market Performance - The contribution of China to the global increase in new energy vehicles from January to October 2025 is 68%, while Germany and the UK contribute 5% and 4% respectively [2][23] - The overall penetration rate of new energy vehicles in the world has been rapidly increasing, reaching 13% in 2022, 16% in 2023, and projected to reach 19.5% in 2024 [1][20] Regional Insights - The U.S. new energy vehicle sales reached 1.4 million units from January to October 2025, with a growth rate of 10%, but saw a significant drop in October with sales of 93,000 units, down 32% year-on-year and 51% month-on-month [18][1] - In Europe, new energy vehicle sales for the same period reached 2.91 million units, a year-on-year increase of 28% [19][1] Company Performance - BYD continues to lead the global market with a share of 22.3% in 2025, while Tesla's share has declined to 8.6% [26] - Geely and Changan are showing strong performance in the new energy sector, while traditional automakers like Volkswagen and BMW are facing challenges [27][26] Export Trends - The share of Chinese autonomous new energy vehicles in overseas markets increased from 8.7% in 2024 to 13.8% in 2025, with a notable rise to 17.7% in October 2025 [12][1]

Core Insights - Chinese automakers, led by BYD, are dominating the electric vehicle market in Europe with advanced technology and competitive pricing, while traditional European manufacturers maintain a foothold in the plug-in hybrid vehicle segment [1][7] - The shift towards plug-in hybrid vehicles in Europe could see Chinese companies capturing significant market share by 2035, as they continue to introduce lower-priced and longer-range models [1][7] Market Dynamics - BYD Seal U has become the best-selling plug-in hybrid vehicle in Europe, capturing approximately 5.5% market share in the first nine months of 2025 [2] - In the UK, Chery Jaecoo 7 was the best-selling plug-in hybrid model in August [2] Competitive Landscape - Traditional hybrid models like Toyota Prius, which use conventional engines and smaller batteries, often have lower purchase and operating costs compared to plug-in hybrids [4] - Chinese manufacturers are expanding production and mastering battery supply chains, making their plug-in hybrids more affordable [4] - Chery Omoda 7 is set to launch in the UK with a starting price of £32,000, lower than Toyota and Honda's hybrid models, while offering a pure electric range of 56 miles (90 km) [4] Sales Growth - The sales of plug-in hybrid vehicles in Europe have surged, with a 32% year-on-year increase in the first nine months of this year, nearing 920,000 units [5] - Electric vehicle sales also grew by 25%, reaching 1.8 million units [5] - Plug-in hybrids accounted for 10% of new passenger car sales in the region during the third quarter, with about one-seventh being new models from Chinese companies [5] Future Outlook - European traditional automakers are losing competitive edge in plug-in hybrid technology to Chinese manufacturers [7] - The EU's tightening of carbon emission regulations and the potential reduction in subsidies for plug-in hybrids may impact future demand [7] - The International Council on Clean Transportation (ICCT) reports that plug-in hybrid vehicle sales in China have surged from approximately 240,000 in 2020 to 4.9 million last year, capturing 19.5% of the new passenger car market [8] - The average range of Chinese plug-in hybrids is 116 km, compared to 78 km in Europe and 70 km in the US [8]

Summary of the Automotive Industry Conference Call Industry Overview - The automotive industry in China is projected to experience a decline in retail sales by 1% in 2026, with sales expected to drop from 24.54 million units in 2025 to 24.31 million units due to overconsumption in 2025 and reduced vehicle purchase tax incentives [1][2][3] - Market demand is anticipated to shift towards mid to low-priced models, particularly in the 50,000 to 100,000 yuan price range, which is expected to grow by 4% [1][2][3] Key Policy Changes - Significant policy changes are expected in 2026, particularly regarding the scrappage and trade-in subsidies, with 21 cities suspending trade-in subsidies and 16 provinces halting scrappage subsidies [2][4] - Recommendations include maintaining the trade-in and scrappage policies but controlling the subsidy budget between 140 billion to 150 billion yuan, while keeping the vehicle purchase tax reduction at 5% to stabilize the market [5][6] Market Dynamics - The automotive sales structure is expected to adjust, with a longer pre-festival sales period due to the late Spring Festival, typically resulting in 40% higher sales compared to post-festival [3] - The export of Chinese automobiles continues to grow, with passenger car exports accounting for 20% of total exports, despite a decline in the Russian market [3][14] Price Segment Performance - In 2025, the 50,000 to 100,000 yuan and 100,000 to 150,000 yuan price segments performed well, with the former growing from 16% to 20% [6][7] - The market for vehicles priced below 400,000 yuan is experiencing a downward trend, with the segment below 400,000 yuan declining by 3 percentage points [7][8] New Energy Vehicles (NEVs) - NEVs are becoming increasingly competitive in the 100,000 to 150,000 yuan market, with penetration rates rising [9][20] - The high-end electric vehicle segment faces challenges due to new energy consumption standards and tax pressures, while high-end fuel vehicles are seeing significant declines in sales [9][10] Regional Sales Trends - Northern and central-western regions are experiencing faster sales growth, with the northeastern region achieving a 15% growth rate [11][12] - Automotive manufacturers are focusing on lower-tier cities for expansion, as first-tier cities show slower growth [12] Export and International Strategy - Chinese automotive exports are expected to continue growing, with a projected increase of 30-40% in NEV exports [20][21] - Companies are adopting diverse strategies for overseas markets, including establishing CKD factories to mitigate trade barriers [15] Competitive Landscape - The competitive landscape is shifting, with leading private enterprises like BYD gaining strength, while traditional state-owned enterprises are expected to play a significant role in mergers and acquisitions [17][18] - New entrants and established brands are expected to intensify competition, particularly in the NEV sector, with companies like Xiaomi and Huawei increasing their market presence [24][25] Future Outlook - The automotive industry is expected to face challenges from policy changes, market dynamics, and competitive pressures, but opportunities for growth remain, particularly in the NEV segment and lower-tier markets [22][23]

Group 1 - The core point of the articles highlights a slight increase in new car registrations in the UK for October, with electric vehicles (EVs) showing strong momentum, accounting for about one-quarter of new car sales [1] - In October, nearly 145,000 new cars were registered, representing a year-on-year growth of 0.5%. EVs accounted for 50.8% of total new car sales, surpassing traditional fuel vehicles for the second consecutive month [1] - Pure electric vehicle registrations in October saw a year-on-year increase of 23.6%, making up 25.4% of new car registrations, although still below the UK government's target of 28% for zero-emission vehicles (ZEVs) [1] Group 2 - The Society of Motor Manufacturers and Traders (SMMT) predicts that 2025 could be the strongest year for UK car sales since before the pandemic, with total registrations expected to reach 2.012 million, marking the first time since 2019 that sales will exceed 2 million [2] - In 2026, total sales are projected to be 2.032 million, with pure electric vehicles expected to account for 28.2%, still falling short of the government's target of 33% for ZEVs [2] - Concerns have been raised regarding potential changes to tax policies by the UK government, which could negatively impact the demand for electric vehicles if the "Employee Car Ownership Scheme" (ECOS) is terminated [2]

Core Insights - The Chinese automotive market is at a critical turning point in 2025, characterized by slowing growth and structural differentiation, with a notable decline in the penetration rate of new energy vehicles (NEVs) and a diversified competitive landscape among brands [2][3]. NEV Market Trends - The growth rate of NEV penetration has significantly slowed, with an increase of less than 4 percentage points from January to September 2025, compared to a 12.5 percentage point increase in 2024 [3]. - The proportion of consumers opting for NEVs under the trade-in policy decreased from 60% in 2024 to 53% in early 2025, indicating a weakening driving force for NEV penetration [3]. - The penetration rate of plug-in hybrid vehicles (PHEVs) has declined from 21.1% in 2024 to 19.8% in 2025, while pure electric vehicles (EVs) continue to rise from 26.6% to 31.4% during the same period [3][4]. PHEV Market Dynamics - PHEV sales dropped sharply from 124.7 million units in 2024 to 27.2 million units in the first three quarters of 2025, leading to a decrease in their contribution to overall NEV growth from 69.7% to 15.1% [4][5]. - The weakening momentum in the PHEV market is attributed to market saturation in lower-tier cities and increased competition from fuel vehicles, which have lowered their prices significantly [5]. Competitive Landscape - The NEV market is witnessing increased competition, with brands like Geely and Leap Motor gaining market share, disrupting BYD's previous dominance [6]. - In the first nine months of 2025, Geely's NEV sales increased by 566,000 units, while Changan and Xiaomi also reported significant sales growth [6]. - Joint venture brands are also entering the NEV market aggressively, with new models achieving monthly sales of 8,000 to 10,000 units, indicating a resurgence in competition [7]. Export Market Developments - China's automotive exports reached 4.95 million units in the first nine months of 2025, a year-on-year increase of 14.8%, with expectations to exceed 7.5 million units for the entire year [8][9]. - The export growth is shifting from a few major companies to a more diversified group of manufacturers, with BYD and Chery leading the charge [9]. - The second-hand car export market is emerging as a potential growth area, with only 7% of total automotive exports in 2024, indicating significant room for expansion [9][10]. Future Outlook - The second-hand car export market is expected to grow, particularly in regions like Africa and Southeast Asia, with a projected growth rate of nearly 85% in the African market [10][11]. - Companies are advised to focus on establishing after-sales networks in key export markets and to leverage existing resources to avoid blind investments [11].

Core Insights - The Chinese automotive market is at a critical turning point in 2025, characterized by slowing growth and structural differentiation, with a notable decline in the penetration rate of plug-in hybrid vehicles and a more diverse competitive landscape among brands [1][2]. Market Trends - The penetration rate of new energy vehicles (NEVs) has significantly slowed, with an increase of less than 4 percentage points from January to September 2025, compared to a 12.5 percentage point increase in 2024 [2]. - The plug-in hybrid market has experienced a rare decline in penetration rate, dropping from 21.1% in 2024 to 19.8% in the first three quarters of 2025, while pure electric vehicles continue to rise from 26.6% to 31.4% [2][3]. Sales Contributions - In 2024, plug-in hybrids sold 1.247 million units, contributing 69.7% to the overall increase in NEV sales, but by the first three quarters of 2025, sales plummeted to 272,000 units, contributing only 15.1% [3]. - The weakening of the plug-in hybrid market is attributed to market saturation in lower-tier cities and increased competition from fuel vehicles, which have seen a price drop, making them more appealing to consumers [3][4]. Competitive Landscape - The market is witnessing a diversification of brands, with companies like Geely and Leap Motor rapidly gaining market share, altering the previously dominant position of BYD [5]. - The interaction data from automotive apps indicates a growing consumer interest across various brands, with significant engagement metrics for new models from Geely and Xiaomi [5]. Export Market Dynamics - China's automotive exports have shown a steady increase, with 4.95 million units exported from January to September 2025, a year-on-year growth of 14.8%, and projections suggest exports could exceed 7.5 million units in 2025 [6][7]. - The export landscape is shifting from reliance on a few major companies to a more diversified group of manufacturers, with BYD and Chery leading the charge [6][7]. Second-Hand Vehicle Export Potential - The second-hand vehicle export market in China remains underdeveloped, accounting for only 7% of total automotive exports, indicating significant growth potential compared to mature markets [7][8]. - The future of second-hand vehicle exports is expected to evolve into a dual model of platform-based and self-operated businesses, focusing on local market integration and resource optimization [8].

Core Insights - The article highlights the structural differentiation in China's electric passenger vehicle exports, with a significant increase in export value and volume in September 2025, indicating strong resilience in the global market despite a slight decline in import reliance [1][4]. Export Performance - In September 2025, China's electric passenger vehicle exports reached $6.302 billion, a year-on-year increase of 46.91%, with cumulative exports from January to September amounting to $47.388 billion, up 32.01% year-on-year [4][6]. - The total export volume for the first nine months was 2.6012 million units, reflecting a year-on-year growth of 55.15%, with the growth momentum continuing to strengthen [4][24]. Market Segmentation - The passenger car segment showed a significant "price for volume" strategy, with export volume reaching 343,900 units in September, a 69.40% increase year-on-year, while the average price decreased by 13.74% to $17,426.80 [2][6]. - In contrast, the bus segment experienced a "volume and price increase," with exports rising by 25.59% to 1,335 units, and the average price increased by 30.90% to $230,755.15 [8][24]. Regional Export Dynamics - Shanghai led the export with $10.247 billion, followed by Jiangsu at $6.046 billion, which saw a remarkable growth of 139.83%, and Anhui at $4.816 billion, with a growth of 255.96% [9][11]. - The top ten provinces accounted for 85.83% of the total electric passenger vehicle exports, indicating a solid dominance of leading regions [9]. Global Market Trends - The export destinations for China's electric passenger vehicles included Belgium ($5.037 billion, down 11.28%), the UK ($4.432 billion, up 32.70%), and the UAE ($2.955 billion, up 85.21%) [17]. - Emerging markets, particularly in South America and Africa, showed explosive growth, with South America experiencing a 242.34% increase in exports, highlighting the demand for electric vehicles in these regions [23][24]. Localization and Strategic Developments - The article notes the acceleration of localization strategies, with several companies establishing local production facilities in key markets, such as Geely's electric vehicle factory in Malaysia and BYD's plans for local production in Europe [24][25]. - Companies are adapting to regional trade policies, with some facing tariff increases while others are expanding their market presence through local partnerships and production [25][26].

Core Insights - The "14th Urban Motor Vehicle and Ship Pollution Prevention Technology Forum" will be held on November 6, 2025, in Kunming, focusing on carbon peak and carbon neutrality goals, as well as pollution prevention in the transportation sector [1][2] - The forum aims to bridge the gap between technology implementation, project application, and policy support, facilitating effective solutions to urban air pollution [2][3] Group 1: Forum Objectives and Themes - The forum will gather experts, including academicians and industry leaders, to discuss key topics such as the "dual carbon" goals and National Standard VII [1] - It will address the critical issue of reducing PM2.5 in urban areas and provide practical guidance for project applications related to the "Beautiful Blue Sky Project" [1][2] Group 2: Comprehensive Pollution Control Strategy - The agenda covers a full chain of pollution prevention research across three major areas: motor vehicles, ships, and non-road machinery, creating a complete pollution control system [2] - Tailored solutions will be developed for specific regional issues, such as highland vehicle emissions and Yangtze River ship pollution [2] Group 3: Collaboration and Innovation - Collaboration between "Double First-Class" universities and enterprises like Dongfeng Group will establish 11 sub-venues nationwide, promoting synergy between academia and industry [2] - The forum will explore cutting-edge areas such as AI-enabled internal combustion engines and digital carbon reduction pathways, showcasing new trends in intelligent governance [3] Group 4: Support from Educational Institutions - Numerous universities and research institutions, including Southwest Forestry University and Shanghai Jiao Tong University, will support the forum, contributing to breakthroughs in pollution prevention [3] - The event is expected to foster innovation and drive the industry towards sustainable development in motor vehicle and ship pollution control [3]

Core Insights - The penetration rate of new energy vehicles (NEVs) is rapidly increasing globally, with China leading the market. By 2025, China's NEV penetration is expected to reach 67.6% of the global market share for passenger vehicles, maintaining a high share of 68.7% in July-August 2025 [1][2][3] - In the first eight months of 2025, global automobile sales reached 61.98 million units, with NEVs accounting for 13.82 million units, representing 28.2% of total sales, an increase of 1.9 percentage points from 2024 [1][3][6] - The disparity in NEV development among countries is significant, with China achieving a penetration rate of 48.2% in August 2025, while the US only reached 11.1% [2][24] Global NEV Trends - The global NEV market is projected to grow significantly, with the penetration rate expected to reach 24.4% by Q3 2025, up from 19.9% in 2024 [2][24] - In the first eight months of 2025, the global market share for pure electric vehicles was 15%, while plug-in hybrids accounted for 7.3% [6][10] - The sales of NEVs in Europe during the first eight months of 2025 reached 2.26 million units, a 26% increase year-on-year [2][23] Regional Performance - In the US, NEV sales reached 1.04 million units in the first eight months of 2025, with a growth rate of 9%, the lowest in recent years. However, August sales saw a 22% increase [2][25][22] - European NEV sales are recovering, with a notable increase in August 2025, where sales reached 224,000 units, a 29% year-on-year growth [2][23] - The overseas market for Chinese NEVs is also expanding, with the market share of Chinese brands in the overseas NEV market rising from 14.7% in 2024 to 18.8% in the first eight months of 2025 [15][18] Market Structure - The structure of the global NEV market is predominantly composed of narrow passenger vehicles, which accounted for 95% of total NEV sales in the first eight months of 2025 [7][8] - Among passenger NEVs, SUVs dominate the market with a 53% share, while sedans account for 39% [8][10] - The contribution of China to global NEV sales is substantial, with estimates indicating that China accounted for 71% of the global increase in NEV sales in the first eight months of 2025 [26]