编辑 | 田梦 方程豹的崛起，给深耕越野车领域多年的长城坦克、北京越野等品牌带来不小压力。然而，从当前的销 量结构来看，其增长主要依赖中端价位车型的放量，高端化之路仍任重道远。 01 方程豹跻身新势力TOP 4 诞生两年后，一度被市场质疑"打蔫"的方程豹，终于露出"獠牙"。 作为比亚迪旗下的个性化品牌，方程豹在2025年11月交出了一份亮眼的成绩单：单月销量达37405台， 创下历史新高，环比增长20.5%，同比激增339%。其销量超过"蔚小理"，跃居新势力品牌销量Top 4， 被行业称为"现象级黑马"。 目前，方程豹在售4款车型，涵盖两大产品序列：豹系列包括中型SUV豹5与中大型SUV豹8，钛系列则 由紧凑型SUV钛3和中大型SUV钛7组成。 文 | 财天COVER 杨十二 易车App显示，钛3拿下11月纯电方盒子销量冠军，豹5登顶11月新能源硬派越野零售销量冠军，压了坦 克300一头。不仅如此，在今年前11个月的累计销量中，豹5在硬派越野车里也摘得头筹。 定位中大型SUV、有着"方盒子"造型的钛7（指导价17.98万～21.98万元）表现更加突出。自今年9月上 市以来，钛7仅用80天便累计交付超5万台，并 ...

Core Insights - BYD reported its November 2025 sales data, showing a total of 480,186 electric vehicles sold, with 237,540 being pure electric and 237,381 plug-in hybrids [1][11][13] - Cumulative sales for the year reached 4,182,038 units, marking an 11.30% year-on-year increase [1][11][13] Sales Performance - In November, BYD's total sales included 42.36 million units from its two main sales networks: Dynasty and Ocean [3][11] - The Dynasty network sold 184,338 units in November, with cumulative sales of 1,729,767 units for the year [4][14] - The Ocean network achieved sales of 233,431 units in November, totaling 2,031,170 units for the year [4][14] Model Breakdown - Key models in the Dynasty network included the Qin, Yuan, Song, Han, Tang, and Xia, with November sales of 70,800; 47,800; 33,900; 14,600; 13,300; and 3,900 units respectively [3][11] - The Ocean network's top models were the Seal, Lion, and Dolphin, with sales of 61,000; 55,000; and 31,000 units respectively [3][11] Brand Performance - The Tengshi brand sold 13,255 units in November, with a total of 138,995 units for the year [6][17] - The Fangchengbao brand reported sales of 37,405 units in November, totaling 183,769 units for the year [7][17] - The Yangwang brand, which targets the high-end market, sold 703 units in November, with a cumulative total of 3,862 units for the year [10][20] New Model Launch - The 2026 model of the Xia was launched on November 4, featuring an upgraded battery capacity and improved range from 180 km to 218 km [4][14]

Core Insights - The Chinese automotive industry has achieved significant breakthroughs through continuous technological innovation and substantial R&D investments, with Chery Group leading the way by investing over 100 billion yuan in R&D [1] - The launch of the Zongheng G700, positioned as a luxury off-road SUV, aims to redefine the luxury off-road market and compete directly with models like Tank 500 and Leopard 8 [1][13] Off-Road Capabilities - The Zongheng G700 features advanced off-road configurations, including three locking differentials and a ground clearance of up to 320mm, significantly outperforming competitors like Tank 500 [3] - It is designed to handle extreme conditions with a water fording capability of 970mm, surpassing the Tank 500's 800mm and Leopard 8's 890mm, and is the only model among them with amphibious attributes [5][6] Luxury Experience - The interior design of the Zongheng G700 is inspired by Eastern aesthetics, featuring high-quality Nappa leather seats with extensive comfort features, including massage and heating functions [7] - The vehicle is equipped with a sophisticated "four-screen" setup, providing a premium multimedia experience, and a high-end audio system with 18 speakers, offering superior sound quality compared to competitors [9] Warranty and Brand Strength - Chery Group boasts 28 years of technological accumulation and a strong luxury gene from its collaboration with Jaguar Land Rover, providing a lifetime warranty for the Zongheng G700, which reflects confidence in product quality [11] - This warranty contrasts with the 5-year or 150,000 km warranty for Tank 500 and 6-year or 150,000 km for Leopard 8, emphasizing Chery's commitment to customer satisfaction [11] Market Positioning - The Zongheng G700 represents a new benchmark for luxury off-road vehicles in China, showcasing the industry's transition from scale to technology leadership, and aims to establish a strong presence in the global luxury off-road market [13]

Core Insights - The significant price reduction of the Range Rover Evoque L, with a manufacturer suggested retail price of 429,800 yuan and an official discount of 190,000 yuan, reflects the weakening brand premium of Land Rover and changing market dynamics [1][2][3] - Despite the price cuts, sales of the Evoque L have not improved, with only 3,509 units sold in the past six months and just 333 units in September [1][2] - The emergence of new domestic off-road vehicles, such as the Tank 400 and Chery's Zongheng G700, has increased competition, making the "affordable" Land Rover less competitive [1][2] Pricing Strategy - The official price after discounts for the Evoque L is under 240,000 yuan, with further negotiation possible upon ordering [1][3] - Additional discounts are available for financing options, trade-ins, and purchasing insurance packages, potentially lowering the effective price further [5][6] Sales Performance - Jaguar Land Rover's global retail sales for the fiscal year 2024/25 were 428,900 units, a slight decrease of 0.7% from the previous year [7] - The brand's performance in China is particularly concerning, with a 19.7% decline in sales, contrasting with growth in other markets like North America [9] Market Trends - The overall SUV market in China is growing, with a 6.3% increase in total sales and a 12.7% increase in off-road capable SUVs [10] - However, Land Rover's sales are declining, attributed to a lag in electrification and smart technology compared to domestic competitors [10][12] Product Quality and Recalls - Land Rover has faced multiple recalls due to quality issues, impacting consumer trust and brand reputation [13][14] - Recent recalls involved significant numbers of vehicles, raising safety concerns and further complicating the brand's market position [14] Financial Performance - Jaguar Land Rover's revenue for the fiscal year 2024/25 was 29 billion pounds, remaining stable year-on-year, but net profit fell by 30.8% to 1.8 billion pounds, indicating weakened profitability [15]

Core Viewpoint - The article provides a comprehensive overview of new vehicle launches scheduled for October 2025, detailing specifications, market segments, and pricing for various models from different manufacturers. Group 1: New Vehicle Launches - NIO's ET5T is set to launch on October 17, 2025, as a B Wagon with a starting price of 316,000 CNY, featuring a pure electric powertrain and a range of 710 km [11]. - FAW Toyota's Crown Land is scheduled for release on October 18, 2025, as a B SUV, with prices ranging from 284,800 to 332,800 CNY, offering both hybrid and gasoline engine options [19]. - Chery's Jietu Zongheng G700 will debut on October 19, 2025, as a C SUV, priced between 329,900 and 422,900 CNY, equipped with a plug-in hybrid system [35]. - BYD's Fangcheng Leopard series, including models Leopard 5 and Leopard 8, will launch on October 20, 2025, with prices ranging from 269,800 to 399,800 CNY for the Leopard 8 [59][67]. - The Cadillac CT6 from SAIC General will be available on October 22, 2025, as a C NB, with prices from 369,900 to 429,900 CNY [107]. Group 2: Specifications and Features - The NIO ET5T features a power output of 360 kW and a torque of 700 Nm, with a battery capacity of 100 kWh [11]. - The FAW Toyota Crown Land offers a 2.5L hybrid engine with a power output of 139 kW and a torque of 236 Nm [19]. - Chery's Jietu Zongheng G700 has a power output of 155 kW from its engine and 510 kW from its electric motor, with a battery capacity of 34.13 kWh [35]. - BYD's Fangcheng Leopard 5 has a combined power output of 143 kW from its gasoline engine and 485 kW from its electric motor, with a battery capacity of 47.8 kWh [59]. - The Cadillac CT6 features a 2.0T engine with a power output of 174 kW and a torque of 350 Nm [107]. Group 3: Market Segments and Pricing - The new models cover various market segments, including B Wagons, B SUVs, C SUVs, and C NBs, catering to a wide range of consumer preferences [11][19][35][59][107]. - The pricing strategy reflects a competitive approach, with models like the Jietu Zongheng G700 positioned at a premium price point compared to other offerings in the same segment [35]. - The article highlights the trend of manufacturers introducing hybrid and electric options, indicating a shift towards more sustainable vehicle choices in the market [11][19][35][59][107].

Core Viewpoint - The luxury off-road vehicle market, traditionally dominated by international brands like Toyota and Land Rover, is experiencing a strong challenge from Chinese manufacturers, particularly in the areas of electrification and intelligent technology [3][4]. Group 1: Market Dynamics - The development of off-road vehicles is categorized into three eras: the 1.0 era focused on functionality, the 2.0 era introduced comfort alongside safety with brands like Land Rover and Jeep, and the 3.0 era emphasizes safety, comfort, intelligence, and ecological considerations [3]. - Two new Chinese off-road vehicles have recently launched: the Chery Zongheng G700, priced between 329,900 to 414,900 yuan, and the Fangcheng Leopard 8, priced between 379,800 to 399,800 yuan [3][4]. Group 2: Technological Advancements - Intelligent features are highlighted as a major selling point, with the Huawei QianKun Intelligent Driving ADS 4 system becoming standard in domestic off-road models. Both the Fangcheng Leopard 8 and Zongheng G700 are equipped with this system [4]. - New luxury features such as electric leg rests and zero-gravity seats are being introduced, along with smart cooling and heating refrigerators that can operate for 24 hours after the vehicle is turned off [4][5]. Group 3: Market Expansion - The Zongheng G700 is targeting a larger global market, particularly the high-end Middle Eastern market, which is considered a core market for off-road vehicles due to high performance and luxury demands [5]. - Chery's chairman indicated that nearly half of the company's revenue now comes from overseas markets, with expectations for this contribution to grow significantly in the future [5].

Core Insights - The luxury off-road vehicle market, traditionally dominated by international brands like Toyota, Land Rover, and Jeep, is now facing strong competition from Chinese challengers [1] - Chinese automakers are not only catching up in mechanical performance but are also innovating in electric drive systems, intelligent driving, and ecological experiences [1] Group 1: Market Dynamics - The launch of Chery's Zongheng G700 and Fangcheng Leopard 8 adds new competition to the market, with prices set at 329,900 to 414,900 CNY and 379,800 to 399,800 CNY respectively [1][2] - The development of off-road vehicles is categorized into three eras: the 1.0 era focused on functionality, the 2.0 era introduced comfort with brands like Land Rover and Jeep, and the 3.0 era emphasizes safety, comfort, intelligence, and ecological considerations [1] Group 2: Technological Advancements - Intelligent features are highlighted as a major selling point, with Huawei's QianKun ADAS 4 system becoming standard in domestic off-road models [2] - The Zongheng G700 and Fangcheng Leopard 8 are equipped with advanced driving assistance systems, showcasing a high level of collaboration in the smart technology path among Chinese off-road vehicles [2] Group 3: Market Expansion - The Zongheng G700 aims for a larger global market, particularly targeting the high-end Middle Eastern market, which is considered a core market for off-road vehicles [2] - Chery's chairman indicated that overseas market revenue is approaching half of the company's total, with expectations for future contributions from international markets to exceed domestic revenue [3]

Core Insights - Shenzhou Car Rental has opened a new outlet at Guangzhou South Station during the National Day holiday, marking a significant step in its expansion within the Greater Bay Area [1] - The company aims to enhance its high-speed rail rental service network, creating an integrated travel service model that combines air and rail transport [1][2] - The introduction of the "随心还" cross-city rental service is expected to boost demand for cross-city orders, tapping into the potential of the Greater Bay Area's three-hour self-driving circle [1][2] Group 1 - Guangzhou South Station, as the largest high-speed rail hub in South China, will serve as a key support for Shenzhou Car Rental's "air-rail intermodal" self-driving model [2] - The company has launched a large-scale new vehicle deployment plan, introducing tens of thousands of new cars across the country, including nearly 30 models ranging from economy cars to high-end vehicles [2] - Shenzhou Car Rental is focusing on family travel by offering spacious 7-seater models and catering to younger customers with smart electric vehicles [2][3] Group 2 - A strategic partnership with BYD has been established, focusing on vehicle procurement plans for 2025 and enhancing the selection of new energy vehicles in the rental fleet [2][3] - The company is expanding beyond traditional car rental services, aiming to become a comprehensive mobility service provider [3] - The collaboration with BYD will also include cooperation in areas such as vehicle networking technology and used car business, indicating a shift towards a more integrated service model [3]

Group 1 - The 12th Wuhan Games and the 5th Traditional Sports Games for Ethnic Minorities were held at Jianghan University, featuring a team of vehicles from BYD, including seven models [1] - The models showcased included the BYD Yangwang U8, Fangcheng Leopard B8, Fangcheng Leopard B5, Haiyan 07 EV, Haibao 07 DMI, Tang DMI, and Qin L EV [1] Group 2 - Yangwang is a high-end electric vehicle brand under BYD, offering a range of products including off-road vehicles, flagship sedans, and pure electric supercars [3] - Fangcheng Leopard is a BYD brand designed to meet personalized consumer needs, enhancing user experience through advanced technology [4] - Haiyan 07 EV features a design by BYD's design director Wolfgang Egger, combining vitality and elegance [4] - Haibao 07 DM-i is the first model to utilize BYD's self-developed CTB battery body integration technology and iTAC intelligent torque control system, excelling in aesthetics, safety, handling, and performance [4] - Tang DM-i is the third plug-in hybrid model from BYD, following Qin DM-i and Song PLUS DM-i, featuring dynamic design elements [5] - Qin L is built on the e-platform 3.0 Evo, incorporating CTB battery body integration technology and advanced driving assistance systems [6] Group 3 - BYD has a long-standing partnership with sports events, collaborating with the China Racing Academy, the first racing academy in China, to promote motorsport [6] - BYD has established a comprehensive event operation model across its all-terrain racetracks nationwide, aligning with the goal of popularizing motorsport [6]

Core Viewpoint - BYD's Fangchengbao brand has launched the Ti7 model, aiming to penetrate the mainstream family vehicle market with competitive pricing and high-end features, potentially reshaping the 200,000 RMB SUV segment [2][6]. Group 1: Product Launch and Features - The Ti7 was officially launched on September 9, with a starting price of 219,800 RMB, lower than the anticipated 250,000 RMB threshold [2]. - All variants of the Ti7 come equipped with high-spec features such as a dual-arm front suspension, leather seats, and BYD's latest intelligent driving assistance system [2]. - The Ti7 is designed with a focus on family users, offering spacious interiors and practical storage solutions, including a 1,880-liter cargo space when the rear seats are folded [4][5]. Group 2: Market Positioning and Strategy - The Fangchengbao brand initially gained traction in the niche off-road market with models like the Leopard 5 and Leopard 8, but aims to expand into the larger family vehicle market for sustained growth [3][4]. - The Ti7 is positioned to compete in a highly competitive segment, facing rivals such as Li Auto L6 and AITO M7, which are all vying for the same family-oriented consumer base [6][7]. Group 3: Intelligent Ecosystem and User Experience - The Ti7 introduces an innovative smart ecosystem, including the BYD Pad, which supports various vehicle control functions and enhances the in-car experience [5]. - The vehicle aims to transcend traditional transportation roles, becoming a personalized mobile space that caters to the needs of young families [5][7]. Group 4: Sales Goals and Market Challenges - The brand's general manager has set an ambitious sales target of 20,000 units per month for the Ti7, with aspirations to reach 30,000 units [6]. - The competitive landscape in the 200,000 RMB SUV market is intense, requiring brands to focus on comprehensive user experiences beyond just hardware specifications [7][8].