以下文章来源于财经天下WEEKLY ，作者财经天下 财经天下WEEKLY . 值班 编辑｜ 江江 视觉 | 顾芗 过去的三天，各地豪车市场都闹翻天了。 7月17日，财政部和国家税务总局联合发布了关于调整超豪华小汽车消费税收（以下简称"豪车税"）政策 的公告，宣布自7月20日起豪车税征收范围由"零售价格（不含增值税）130万元/辆及以上的乘用车和中 轻型商用客车"，调整为"每辆零售价格90万元（不含增值税）及以上的各种动力类型（含纯电动、燃料 电池等动力类型）的乘用车和中轻型商用客车"。 《财经天下》周刊官方账号，提供有品质的深度报道，讲述中国企业在时代浪潮中的精彩故事。 本文转载自财经天下WEEKLY 此次调整涉及两个方面，一是起征点的新车零售价格降低了，二是车的类型更明确，新能源乘用车也被 算在内。 豪车税新规从发布到执行只有不足3天的时间，豪车经销商和消费者都被打了个措手不及，大家都尽可 能地想抢在7月20日之前开具购车发票，从而避免新增的豪车税。 北京的多家路虎4S店发布公告称，7月18~19日，店面的闭店时间延长至22点或23点，并且支持24小时对 公打款。 "涉及的车型主要是揽胜，还有揽胜运动和卫士 ...

Investment Rating - The report maintains a "Positive" investment rating for the automotive industry, particularly focusing on the mid-to-high-end market and strong alpha companies [3][4]. Core Insights - The Chinese automotive market is transitioning between the third and fourth consumption eras, with a notable expansion in mid-to-large SUVs and personalized products, indicating untapped consumer potential [4]. - The report emphasizes the importance of innovative supply to stimulate market demand, highlighting products like Yu7, Zun Jie S800, and upcoming models from Li Auto as key drivers [4]. - The report suggests continued attention to strong alpha manufacturers such as Li Auto, JAC, Xiaomi, and Seres, as well as their corresponding supply chain companies [4]. Industry Update - Retail sales of passenger cars reached 570,000 units in the 26th week of 2025, with a month-on-month decrease of 1.38%. Traditional energy vehicles sold approximately 274,000 units, down 7.43%, while new energy vehicles sold 296,000 units, up 4.96%, achieving a penetration rate of 51.93% [4]. - The automotive industry experienced a total transaction value of 425.645 billion yuan this week, reflecting a week-on-week decrease of 5.01% [4]. - The automotive industry index rose by 0.10% this week, while the Shanghai and Shenzhen 300 index increased by 1.54%, indicating that the automotive sector's performance was below the broader market [11]. Market Conditions - The report notes that 123 automotive stocks rose while 159 fell this week, with the largest gainers being TaoTao Automotive, Hunan Tianyan, and Zhengyu Industrial, which saw increases of 29.8%, 21.0%, and 18.3%, respectively [15]. - Key events include the launch of the Xiaopeng G7, which exceeded pricing expectations and features advanced autonomous driving capabilities, and the opening of BYD's factory in Brazil, enhancing its presence in the Latin American market [5][8]. Investment Recommendations - The report recommends focusing on domestic strong alpha manufacturers such as BYD, Geely, and Xiaopeng, as well as companies involved in the trend of smart technology, including Jianghuai Automobile and Seres [4]. - It also suggests monitoring state-owned enterprise reforms, particularly with SAIC Motor, and identifying component manufacturers with strong growth potential, such as Fuyao Glass and New Spring [4]. Key Events - Xiaopeng G7 was launched with a starting price of 195,800 yuan, featuring advanced AI capabilities and a significant increase in autonomous driving performance [5][41]. - BYD's new factory in Brazil aims for an annual production capacity of 150,000 vehicles, with plans to expand to 300,000 units, marking a significant step in its global strategy [8][9].

近日，全球汽车圈迎来了新一轮"召回潮"。起亚、宝马、现代等企业因高压燃油管、48V发电机组件、氢燃料电池系统等缺陷，宣布召回超1.6万辆汽车。与 此同时，奔驰、捷豹路虎、哈雷戴维森等品牌也因软件标定、部件焊接、线束绝缘层破损等问题加入召回行列。 在众多召回案例中，安全问题成为关注焦点。起亚因高压燃油管缺陷可能引发燃油泄漏及起火风险，召回包含Seltos在内的两款车型共12949辆；宝马因48V 启动发电机组件安装不当可能导致充电故障，召回520i等11款车型共2213辆；现代汽车则因氢燃料电池公交车排放口盖设计缺陷，对1390辆Elec City氢燃料 电池公交车采取纠正措施。 此外，北京现代因高压燃油管端口制造缺陷召回部分索纳塔和途胜L汽车，涉及车辆352辆；江苏悦达起亚汽车有限公司召回部分智跑Ace、凯酷和狮铂拓界 汽车，共计2159辆，这些车辆同样存在高压燃油管密封性能不佳，有汽油渗出风险。哈雷戴维森因电压调节器线束问题召回部分CVO旅行摩托车，涉及229 辆，以此来防止因电压调节器输出线束与曲轴箱摩擦导致绝缘层破损，引发短路、主保险丝熔断等安全隐患。 排放问题也是本次"召回潮"中不容忽视的一点。宝马（ ...

奔驰因高压起动发电机控制模块软件偏差，召回部分AMG S级和AMG GT插电式混动汽车；捷豹路虎则因局部反光标识间距不规范和座椅安全带问题，召 回部分进口路虎揽胜和揽胜运动版汽车；哈雷戴维森因电压调节器线束问题，召回部分CVO旅行摩托车；山东锣响汽车因顶棚杆焊接问题，召回部分仓栅 式运输半挂车；金龙客车则因手刹提醒功能缺失，召回部分纯电动客车。 宝马韩国公司则因48V启动发电机组件安装不当，可能导致充电故障，决定召回520i等11款车型，共计2213辆。宝马（中国）汽车贸易有限公司也因车载诊 断软件标定问题，召回部分进口X3 M40i和X4 M40i汽车，共计3736辆，以消除排放风险。这两家公司将为这些车辆提供免费软件升级服务。 现代汽车公司因氢燃料电池公交车排放口盖设计缺陷，决定对1390辆Elec City氢燃料电池公交车采取纠正措施。此外，北京现代也因高压燃油管缺陷，召回 部分索纳塔和途胜L汽车，共计352辆，并将免费更换相关部件。 近期发生的召回行动不仅限于上述3家公司。像奔驰、捷豹路虎、哈雷戴维森、山东锣响汽车以及金龙客车等品牌也纷纷宣布召回计划，涉及多款车型和数 量不等的车辆。这些召回行动均因车 ...

撰 文 / 刘宝华 设 计 / s h e l l y 面对百年难遇的行业转型，汽车厂商们尝试着不同解决方案，也获得了各不相同的阶段性成果。 捷豹路虎最新公布的2024/25财年（2024年4月至2025年3月）财报显示，在外部经济环境和行业转 型的双重挑战下，公司创造了近10年最好的盈利记录。 财年全球营收290亿英镑，与上一财年基本持平，税前利润达25亿英镑，同比增长15%，息税前利 润率8.5%。公司还实现了净现金为正的目标，达到2.78亿英镑。 息税前利润的两位数增长主要归功于旗下高价值品牌揽胜、揽胜运动版和卫士的强劲销售表现，揽 胜与卫士品牌在北美、中国、英国和欧盟等地均呈现出不同程度的增长。 路虎卫士全财年创下超过11.5万台的销量纪录，同比增长0.7%，揽胜运动版全年批售量增长 19.7%。 "本财年，捷豹路虎以出色的年度及季度业绩强势收官。我们不仅连续十个季度保持盈利，更成功 实现了净负债清零这一重要战略目标。"对于2024/25财年稳健的业绩表现，捷豹路虎全球首席执行 官Adrian Mardell表示，"在产品层面，路虎卫士车型销量创下历史新高，全新捷豹Type 00电动概念 车惊艳亮相， ...

Financial Performance - Jaguar Land Rover reported a pre-tax profit of £2.5 billion for the fiscal year 2025, a 15% increase year-on-year, with revenue remaining stable at £29 billion [2] - The company's EBIT margin was 8.5%, while net profit decreased to £1.8 billion from £2.6 billion in the previous fiscal year [2] - Free cash flow stood at £1.5 billion, attributed to strong sales of high-value brands such as Range Rover and Defender, which increased their share of total wholesale sales from 61% to 68% [2] Market Challenges - The company is facing challenges due to the impact of new U.S. tariffs, prompting Tata Motors to reassess profit forecasts for Jaguar Land Rover [3] - A new trade agreement allows up to 100,000 British cars to enter the U.S. market at a 10% tariff, which is an improvement from the previous 25% but still higher than the pre-Trump rate of 2.5% [3] - The North American market, which saw a 14.4% increase in wholesale volume in Q4 of fiscal 2025, may experience a decline due to tariffs affecting the Defender model produced in Slovakia [4] Strategic Adjustments - Jaguar Land Rover is focusing on diversifying its market strategy to mitigate risks associated with U.S. tariffs, aiming to become a fully electric luxury car manufacturer by 2030 and achieve net-zero carbon emissions by 2039 [5] - The company plans to increase its investment from £15 billion to £18 billion over the next five years for electric product development [6] - A significant investment of £500 million will be allocated for the electrification upgrade of the Halewood plant in the UK, enhancing production efficiency [6] Collaboration and Market Expansion - Jaguar Land Rover has signed a strategic cooperation agreement with Chery to focus on electric vehicle production for the Chinese market, launching a new brand "Freelander" [7] - The partnership aims to leverage Chery's electric platform while phasing out production of certain existing models in China [7] - The company is also exploring growth opportunities in other regions, particularly in light of favorable trade agreements with India that significantly reduce import tariffs on British vehicles [5]

4月11日，为庆祝揽胜品牌诞生55周年，"2025揽胜之夜"主题活动于原英国驻沪总领事馆外滩源壹 号盛大举行，全新揽胜SV中国十周年高定版重磅亮相，全新揽胜运动SV Edition Two正式上市。 "55年来，揽胜不断书写着只属于自己的历史与辉煌，成为全球用户心中奢华、越野、性能的代名 词，持续引领豪华全地形SUV细分市场。"捷豹路虎中国首席商务官吴辰表示，"如今，我们已将揽胜的 奢华境界推向全新高度。未来，揽胜家族将继续关注用户的新需求，为消费者打造更引人入胜的尊崇驾 驭体验和生活方式。" 全新揽胜SV中国十周年高定版 捷豹路虎中国首席商务官吴辰 揽胜自1970年创立至今，历经55载5代车型演进，在每个时代都是豪华全地形SUV的典范标杆。揽 胜自诞生以来即成为英国皇室御用座驾，从1974年第一代揽胜作为新的英国王室检阅车登上历史舞台至 今，人们依旧能见到这些经过特别改装的揽胜车辆，以专属座驾的角色陪伴王室成员列席英伦重大节庆 盛典。"在此次活动上，3台贯穿前英女王伊丽莎白二世一生的座驾，首度漂洋过海来到中国，共溯英伦 王室的鎏金岁月与揽胜品牌的至尊荣耀。 5代揽胜车型齐聚"揽胜高街" 为庆祝揽胜品牌55周 ...

撰文 / 周 洲 设计 / 师 超 设计 / A u t o m o t i v e n e w s ， Ti m e s ， 日 经 新 闻 等 特朗普用关税将全球汽车产业搅得鸡犬不宁。 这位"关税行家"此前宣布的对进口汽车加征25%关税的措施，4月3日正式生效。 根据白宫发布的文件，25%的关税将适用于进口乘用车（轿车、运动型多功能汽车等）和轻型卡车，以及关键汽车零部件（发动机、变速箱等），并将 在必要时扩展至其他零部件。 全球车企应对不一。 捷豹路虎暂停向美国出口汽车；丰田本田淡定不涨价，一向与供应商共荣的丰田还将承担因关税造成的美国供应商成本上涨的部分。 现代汽车集团也决定先观望不涨价，美国三大重启了对消费者适用的员工折扣，大众汽车则打算收取一定的进口费用。 英国和日本政府都在争取与华盛顿达成新的贸易协议，争取关税豁免。 捷豹路虎暂停出口 特朗普推出关税后，印度塔塔汽车公司旗下的英国汽车制造商捷豹路虎暂停向美国出口汽车。 "美国是捷豹路虎豪华品牌的重要市场，"其发言人在一封电子邮件声明中表示，"我们正在实施短期措施，包括4月份暂停发货，同时制定中长期计 划。" 《泰晤士报》首先报道了捷豹路虎暂停对美出 ...