点 击 蓝 字 关 注 我 们 一、皮卡市场总体分析 2025年皮卡批发市场走势前低中高，相对于历年的春节较早，因此2025年2-3月的皮卡走势获得增量，4-8 月皮卡销量逐步下滑。 皮卡属于生产资料车型，在春节之前一般购买皮卡相对较少，春节之后的3-4月皮卡销售进入旺季，这也 是房地产、工程项目和单位购买的需求增长点。 乘用车的销量代表了中国消费者的生活品质以及追求，但是商用车的销量代表了中国小企业、小私营业 主的发展状况，只有商用车的需求上来了，基础民生问题得到解决，乘用车市场才能有恢复的可能。 1、历年皮卡市场逐月走势 本文全文共 3692 字，阅读全文约需 12 分钟 皮卡产销： 2025年8月皮卡市场销售4.0万辆，同比持平，环比下降3%，处于近5年的中高位水平。2025年 1-8月份皮卡市场销售36.9万辆，同增长7%。 长城汽车持续保持强势皮卡领军地位，国内外表现均较平稳。受出口持续同比增长促进，长城汽车、上 汽大通、郑州日产、长安汽车、江淮汽车表现较强。在国内皮卡零售市场，长城汽车、江铃汽车、郑州日产、 江西五十铃等表现较好，国内"皮卡一超三强"格局继续保持。皮卡市场的主力区域在西南、西北为主 ...

Group 1: Market Performance - From September 1 to 14, the national passenger car market retail reached 732,000 units, a year-on-year decrease of 4%, but a month-on-month increase of 6%. Cumulative retail for the year reached 15.497 million units, a year-on-year increase of 9% [1][5] - During the same period, wholesale of national passenger car manufacturers was 774,000 units, a year-on-year decrease of 3%, but a month-on-month increase of 18%. Cumulative wholesale for the year reached 18.816 million units, a year-on-year increase of 12% [1][9] Group 2: New Energy Vehicles - In the new energy sector, retail sales from September 1 to 14 reached 438,000 units, a year-on-year increase of 6% and a month-on-month increase of 10%. The penetration rate for new energy vehicles in the passenger car market was 59.8%, with cumulative retail for the year at 8.008 million units, a year-on-year increase of 25% [1][5] - Wholesale of new energy vehicles from manufacturers during the same period was 447,000 units, a year-on-year increase of 10% and a month-on-month increase of 21%. The cumulative wholesale for the year reached 9.39 million units, a year-on-year increase of 32% [1][9] Group 3: Market Trends and Challenges - The market is experiencing a mixed performance, with the "Golden September and Silver October" traditional peak season approaching, alongside the implementation of national and local purchase subsidies. However, the focus on high-priced models in local subsidy policies may hinder the growth of the mainstream market [5] - The introduction of new models at the Chengdu Auto Show has generated significant interest, but the lack of popular entry-level models has limited their contribution to overall sales [5][9]

Group 1: Market Overview - From September 1 to 14, the national passenger car retail market sold 732,000 units, a year-on-year decrease of 4%, but a month-on-month increase of 6%. Cumulative retail sales for the year reached 15.497 million units, a year-on-year increase of 9% [4][5] - During the same period, wholesale of passenger cars reached 774,000 units, a year-on-year decrease of 3%, but a month-on-month increase of 18%. Cumulative wholesale for the year was 18.816 million units, a year-on-year increase of 12% [4][8] - The retail penetration rate for new energy vehicles (NEVs) was 59.8%, with retail sales of 438,000 units, a year-on-year increase of 6% and a month-on-month increase of 10% [4][5] Group 2: Sales Trends - The first week of September saw an average daily retail of 44,000 units, a year-on-year decrease of 10%, while the second week saw an average daily retail of 61,000 units, a year-on-year increase of 1% [3][4] - The market is expected to enter a traditional peak season in September, supported by national subsidies and local purchase incentives, although these incentives are skewed towards high-priced models, which may hinder mainstream market growth [5][8] Group 3: Inventory and Production - As of the end of August 2025, the national passenger car industry inventory was 3.16 million units, a decrease of 130,000 units from the previous month. The inventory pressure has eased due to cautious production control by manufacturers [8][9] - The inventory days are estimated to be 42 days, indicating a decrease in overall inventory pressure compared to previous years [9] Group 4: Export and International Market - The export of Chinese automobiles has been favorable, with a significant increase in market share for domestic brands in overseas markets. The share of domestic new energy vehicles in overseas markets rose to 16% [8][9] - The export of pickup trucks has also seen substantial growth, with a total of 20,200 units exported in the first eight months of 2025, a year-on-year increase of 32% [11]

Group 1: Market Overview - In August 2025, the pickup market sold 40,000 units, a year-on-year decrease of 0.3% and a month-on-month decrease of 3.0%, remaining at a mid-high level compared to the past five years [1] - From January to August 2025, the pickup market sold 387,000 units, showing a year-on-year growth of 12.7% [1] - The main demand for pickups is concentrated in the Southwest and Northwest regions, accounting for 45% of total demand in August 2025 [1] Group 2: Company Performance - Great Wall Motors continues to lead the pickup market, with stable performance both domestically and internationally [1] - In the August 2025 pickup sales ranking, Great Wall Motors sold 13,322 units, a decrease of 2.9% year-on-year, while Changan and Zhengzhou Nissan saw significant increases of 53.5% and 56.3% respectively [4] - From January to August 2025, Great Wall Motors sold 123,322 units, a year-on-year increase of 4.8% [5] Group 3: Export and New Energy Pickup Trends - In 2024, China exported a total of 244,000 pickups, with an impressive growth rate of 85% [2] - In August 2025, the pickup export volume was 21,000 units, a year-on-year increase of 3% [2] - The sales of new energy pickups reached 2,120 units in 2024, a year-on-year increase of 170%, with a cumulative sales of 49,000 units from January to August 2025, reflecting a growth of 536% [2] Group 4: Competitive Landscape - In the new energy pickup segment for August 2025, Geely Radar sold 1,221 units, BYD sold 861 units, and Changan sold 710 units, indicating a growing market for new energy pickups [3] - The competitive landscape shows that the "one strong, three weak" pattern in the domestic pickup market continues, with Great Wall Motors, Jiangling Motors, and Zhengzhou Nissan performing well [1]

Core Viewpoint - The article discusses the current state and trends in the pickup truck market in China, highlighting sales performance, export growth, and the rise of electric pickups. Pickup Sales - In August 2025, the pickup market sold 40,000 units, a year-on-year decrease of 0.3% and a month-on-month decrease of 3.0%, maintaining a mid-to-high level compared to the past five years [2] - From January to August 2025, total pickup sales reached 387,000 units, showing a year-on-year growth of 12.7% [2] - Great Wall Motors continues to lead the pickup market, with strong performance both domestically and internationally, supported by consistent export growth [2] - The main demand for pickups is concentrated in the Southwest and Northwest regions, accounting for 45% of total demand in August 2025 [2] Pickup Exports - In 2024, China exported a total of 244,000 pickups, marking an 85% increase [3] - In August 2025, 21,000 pickups were exported, reflecting a year-on-year increase of 3% but a month-on-month decrease of 9% [3] - The export share of pickups reached 53% in August 2025, up from 45% in 2024, indicating a rapid increase in China's self-owned pickup exports [3] New Energy Pickups - In 2024, sales of new energy pickups reached 21,200 units, a significant year-on-year increase of 170% [3] - In August 2025, new energy pickup sales were 3,000 units, showing a year-on-year increase of 68% but a month-on-month decrease of 20% [3] - From January to August 2025, cumulative sales of new energy pickups reached 49,000 units, a remarkable year-on-year growth of 536% [3] - Major contributors to new energy pickup sales in August included Geely Radar with 1,221 units, BYD with 861 units, and Changan with 710 units [3]

Core Insights - The Chinese pickup truck market showed a mixed performance in July, with sales of 41,000 units, a year-on-year increase of 1.7% but a month-on-month decline of 15%, maintaining a median level over the past five years [2] - From January to July, total sales reached 348,000 units, reflecting an 11% year-on-year growth [2] - The leading companies in the pickup market include Great Wall Motors, SAIC Maxus, Zhengzhou Nissan, Changan Automobile, and JAC Motors, all selling over 3,000 units in July [3][4] Market Dynamics - Great Wall Motors dominated the market with 110,000 units sold from January to July, accounting for one-third of the total market share, while other strong competitors like JAC Motors and BYD are gaining ground [3] - In July, Great Wall Motors sold 13,800 units, a 14.5% increase year-on-year, significantly outpacing competitors [3] - The domestic market is characterized by a "one super, three strong" structure, with Great Wall Motors holding nearly 50% of the domestic market share [4] New Energy Pickup Growth - The new energy pickup market is rapidly expanding, particularly in regions like Guangdong, with significant growth potential for domestic demand [5] - Sales of new energy pickups are projected to grow from 0.3 million in 2022 to 2.1 million in 2024, with a year-on-year increase of 702% in the first seven months of 2025 [5] - Radar New Energy's sales reached 9,337 units in the first seven months of 2025, marking a 191% increase [5] Export Trends - The export of Chinese pickups has become a significant segment, with 18,100 units exported from January to July 2025, a 37% year-on-year increase [6] - The export proportion of total pickup sales is rising, reaching 52% in the first seven months of 2025, with July alone seeing a 56% export rate [6][7] - Great Wall Motors remains the leader in export volume, but competitors like SAIC Maxus and JAC Motors are also showing strong export performance [7] Future Projections - The pickup market is expected to see domestic demand exceed 1 million units by 2030, with total sales potentially reaching 2 million units when including exports [8]

Group 1 - In July, the pickup market in China sold 41,000 units, a year-on-year increase of 1.7% but a month-on-month decrease of 15%, maintaining a median level over the past five years [1] - From January to July, the total sales of pickups reached 348,000 units, representing an 11% year-on-year growth [1] - The top five companies in July sold over 3,000 units each, with Great Wall Motors leading the market [2][3] Group 2 - Great Wall Motors sold 110,000 pickups from January to July, capturing one-third of the market with a year-on-year increase of 5.8% [2] - In July, Great Wall Motors sold 13,800 pickups, a 14.5% increase year-on-year, significantly ahead of competitors [2] - The domestic pickup market is characterized by a "one super, three strong" structure, with Great Wall Motors, Jiangling Motors, and Zhengzhou Nissan performing well [3] Group 3 - The new energy pickup market is growing rapidly, with significant increases in sales in regions like Guangdong [3][4] - New energy pickup sales in 2025 reached 46,000 units from January to July, a staggering 702% year-on-year increase [3] - The overall trend indicates a shift towards private consumption of pickups, driven by models like Radar New Energy [4] Group 4 - The export market for pickups is thriving, with 18,100 units exported from January to July, a 37% year-on-year increase [5] - By July 2025, the export volume of pickups reached 23,000 units, with exports accounting for 56% of total sales in that month [5][6] - Great Wall Motors remains the leader in pickup exports, but other brands like SAIC Maxus and BYD are also showing strong performance [6] Group 5 - The China Automotive Industry Association predicts that domestic demand for pickups could exceed 1 million units by 2030, with total sales potentially reaching 2 million units [7]

Group 1: Overall Market Analysis - The pickup truck market in July 2025 sold 41,000 units, a year-on-year increase of 2% but a month-on-month decrease of 15%, maintaining a median level over the past five years [1] - From January to July 2025, the pickup truck market sold 348,000 units, representing an 11% year-on-year growth [1][7] - The main regions for pickup truck demand are the Southwest and Northwest, accounting for 45% of total demand in July 2025 [1][15] Group 2: New Energy Pickup Trucks - In 2024, nationwide sales of new energy pickup trucks reached 21,000 units, a significant year-on-year increase of 170% [15] - In July 2025, new energy pickup truck sales were 4,000 units, up 182% year-on-year but down 40% month-on-month, with a cumulative total of 46,000 units sold from January to July, marking a 702% increase [2][15] - Major contributors to new energy pickup sales in July included BYD with 1,814 units and Radar New Energy with 1,430 units [2] Group 3: Export Performance - In July 2025, pickup truck exports reached 23,000 units, a year-on-year increase of 13% but a month-on-month decrease of 13% [3][9] - Exports accounted for 56% of total sales in July 2025, with a cumulative export of 181,000 units from January to July, reflecting a 37% year-on-year growth [3][9] - Key players in the export market include Great Wall Motors, BYD, and SAIC Maxus, with many companies achieving over 50% of their total sales from exports [3][9] Group 4: Competitive Landscape - Great Wall Motors continues to dominate the domestic pickup truck market, holding nearly 50% of the market share in July 2025 [22][25] - Other strong competitors include Jiangling Motors, Zhengzhou Nissan, and Changan Automobile, which have maintained significant positions in the market [22][25] - The competitive landscape is characterized by a concentration of sales among a few leading manufacturers, with a notable increase in export performance among several companies [22][28] Group 5: Regional Sales Characteristics - The pickup truck market is primarily driven by small cities and rural areas, with significant demand in the Southwest and Northwest regions [15][32] - Urban markets, particularly in large cities, are showing signs of stagnation, while smaller markets are experiencing growth [19][32] - The introduction of electric and passenger-oriented pickups is expected to improve demand in urban areas, particularly in cities with purchase restrictions [19][32]

Core Viewpoint - The pickup truck market in China is experiencing a mixed performance with strong growth in exports and the emergence of new energy pickups, while domestic demand shows signs of weakness. The market is characterized by a leading position held by Great Wall Motors and a competitive landscape among several key players [2][3][4][6]. Group 1: Pickup Truck Sales Performance - In July 2025, the pickup truck market sold 41,000 units, a year-on-year increase of 2% but a month-on-month decline of 15%, maintaining a median level over the past five years [2][6]. - From January to July 2025, total sales reached 348,000 units, reflecting an 11% year-on-year growth [2][6]. - The main sales regions for pickups are in the Southwest and Northwest, accounting for approximately 45% of total demand in July 2025 [2][18]. Group 2: Export Trends - In July 2025, pickup truck exports reached 23,000 units, showing a year-on-year increase of 13% but a month-on-month decline of 13% [3][10]. - Exports accounted for 56% of total sales in July 2025, up from 45% in 2024, indicating a strong international demand for Chinese pickups [3][10]. - Key players in the export market include Great Wall Motors, SAIC Maxus, and Changan Automobile, with many manufacturers seeing exports make up over half of their total sales [3][10][27]. Group 3: New Energy Pickup Development - In 2024, the sales of new energy pickups reached 21,000 units, a significant year-on-year increase of 170% [4][15]. - By July 2025, new energy pickup sales were 4,000 units, marking a 182% year-on-year growth despite a 41% month-on-month decline [4][15]. - The cumulative sales of new energy pickups from January to July 2025 reached 46,000 units, reflecting a remarkable 702% increase compared to the previous year [4][15]. Group 4: Market Dynamics and Regional Characteristics - The pickup truck market is influenced by the economic conditions of small businesses and private owners, with a notable recovery in demand post-pandemic [6][7]. - The market is showing signs of regional variation, with the Southwest and Northwest regions demonstrating stronger demand compared to the East [18][29]. - The trend towards electrification and the increasing popularity of pickups for leisure activities are reshaping consumer preferences and market dynamics [7][18][29]. Group 5: Competitive Landscape - Great Wall Motors continues to dominate the domestic pickup market with nearly 50% market share, while other players like Jiangling Motors and BYD are gaining ground [23][25]. - The competitive landscape is characterized by a concentration of market share among a few leading manufacturers, with exports driving overall market strength [23][27]. - The introduction of new models and the focus on electric pickups are expected to further enhance the competitive positioning of key players in the market [29].

Core Viewpoint - The electrification penetration rate of commercial vehicles in China is rapidly increasing, with significant growth observed in various segments, indicating a strong trend towards electric commercial vehicles [1][3][6]. Group 1: Overall Electrification Trends - The overall electrification penetration rate for commercial vehicles reached nearly 29% in June and July, with a cumulative rate of 24.35% from January to July, up 7.7 percentage points from the same period last year [1]. - Cumulative sales of new energy commercial vehicles from January to July reached 429,000 units, a year-on-year increase of 56%, while the overall commercial vehicle sales growth was only 6.6% [1]. Group 2: Heavy-duty Trucks - The electrification penetration rate for heavy-duty trucks exceeded 25% for two consecutive months, reaching 25.89% in July, with cumulative sales of nearly 96,000 units from January to July, a 179% year-on-year increase [3]. - The cumulative penetration rate for heavy-duty trucks is close to 23%, up 13 percentage points from the same period last year [3]. Group 3: Light-duty Trucks - The electrification penetration rate for light-duty trucks (3.5-6T) surpassed 27% for two consecutive months, with sales reaching 88,000 units from January to July, a 95% year-on-year increase [6]. - The cumulative penetration rate for light-duty trucks increased to 21.95%, up 8.5 percentage points from the previous year [6]. Group 4: Pickup Trucks - The electrification rate for pickup trucks exceeded 10% in July, marking a significant increase from below 5% in previous years [9]. - Cumulative sales of pickup trucks reached 12,400 units from January to July, a 115% year-on-year increase, with a cumulative penetration rate of 7.8% [9]. Group 5: Light Buses - The electrification penetration rate for light buses is the highest among all commercial vehicle segments, reaching 59.49% from January to July, with cumulative sales of 246,000 units, a 3% year-on-year increase [12]. Group 6: Future Projections - The annual penetration rate for commercial vehicles is expected to reach 26-28% by 2025, with total sales projected to hit a record 800,000 units, a nearly 40% year-on-year increase [15]. - The heavy-duty and light-duty truck segments are expected to see total sales of 190,000 and 180,000 units, respectively, with penetration rates of around 25% and 28% [15]. - The market may face challenges in 2026 due to potential market saturation and changes in tax policies, but the long-term outlook remains positive, with expectations of a penetration rate exceeding 50% by 2030 [17].