齐鲁晚报·齐鲁壹点 李璟瑶 8月18日，钛3媒体长测试驾品鉴济南站正式启，济南市众多主流媒体组团评测，从济沿 400 公里复合路线驶向青岛东 方影都希尔顿逸林酒店。这场横跨两城的长测，以 "续航平权" 为核心命题，在城市拥堵、高速疾驰、城郊环路等全场 景中，全方位验证了钛 3 的真实性能，共同见证了这款 "科技潮品 SUV" 在续航、智能、安全等维度的硬核实力。 换乘后，车队驶入城郊环路，复杂路况成为验证钛 3 智能配置的 "试金石"。天神之眼 C 驾驶辅助三目版的车道保持功 能精准识别标线，面对连续弯道也能稳定居中；车机系统对 "打开空调 23 度并导航到下一个服务区" 的复杂指令，响 应时间不到 1 秒。媒体团也在体验后表示："智能配置不是噱头，在长途驾驶中，精准的辅助功能确实能降低疲劳 感，这也是续航之外，提升出行体验的关键。" 而 "1 机 3 舱" 配置更添惊喜 —— 顶配车型的 "灵鸢智能车载无人机系 统" 在服务区起飞，实时传回车队航拍画面，电动前舱化身临时储物空间，便捷后舱则轻松容纳了媒体的摄影器材， 三者联动让长测多了几分趣味。 车队顺利抵达青岛东方影都希尔顿逸林酒店，全程 400 公里，钛 ...

该行称，比亚迪7月销量34.4万辆，同比基本持平，1至7月累计249万辆，同比升27%，实现较快增 长；其中，海外累计销量52.4万辆，同比升1.24倍，主要得益于多区域市场深化布局，以及海外品牌势 能逐步建立。7月方程豹及腾势销售分别为1.4万及1.1万辆，同比升6.7倍及10%，实现较快增长，主要 受惠于方程豹钛3、腾N9等新车。 海外市场方面，公司于2024年陆续引入多位曾在海外车企就任的高管，2024年底起开启产品策略调 整，引入多款插混车型；渠道方面，公司目标2025年底在欧洲建立500个销售点，而截至2024年3月约为 250个。据市场数据，比亚迪今年首5个月在欧洲新能源乘用车市场份额同比升2.8个百分点至4%，同期 在东南亚多国市占率达47%，同比升15个百分点；在南美主要市场份额保持在77%的高位。产能方面， 除2024年已投产的泰国、乌兹别克斯坦工厂，后续将覆盖南美、欧洲，深化本地化布局。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： ne ...

该行称，比亚迪7月销量34.4万辆，同比基本持平，1至7月累计249万辆，同比升27%，实现较快增长;其 中，海外累计销量52.4万辆，同比升1.24倍，主要得益于多区域市场深化布局，以及海外品牌势能逐步 建立。7月方程豹及腾势销售分别为1.4万及1.1万辆，同比升6.7倍及10%，实现较快增长，主要受惠于 方程豹钛3、腾N9等新车。 智通财经APP获悉，中金发布研报称，2025年比亚迪(01211,002594.SZ)海外销量有望超额完成年初目 标，亦看好公司在海外市场中长期的成长性;维持"跑赢行业"评级，维持A股及H股目标价不变，分别为 161.3元人民币及178港元。 海外市场方面，公司于2024年陆续引入多位曾在海外车企就任的高管，2024年底起开启产品策略调整， 引入多款插混车型;渠道方面，公司目标2025年底在欧洲建立500个销售点，而截至2024年3月约为250 个。据市场数据，比亚迪今年首5个月在欧洲新能源乘用车市场份额同比升2.8个百分点至4%，同期在 东南亚多国市占率达47%，同比升15个百分点;在南美主要市场份额保持在77%的高位。产能方面，除 2024年已投产的泰国、乌兹别克斯坦工厂， ...

中金发表研究报告指，比亚迪7月销量34.4万辆，按年基本持平，1至7月累计249万辆，按年升27%，实 现较快增长；其中，海外累计销量52.4万辆，按年升1.24倍，主要得益于多区域市场深化布局，以及海 外品牌势能逐步建立。7月方程豹及腾势销售分别为1.4万及1.1万辆，按年升6.7倍及10%，实现较快增 长，主要受惠于方程豹钛3、腾N9等新车。 该行认为，2025年公司海外销量有望超额完成年初目标，亦看好公司在海外市场中长期的成长性，维 持"跑赢行业"评级，维持A股及H股目标价不变，分别为161.3元及178港元。 海外市场方面，公司于2024年陆续引入多位曾在海外车企就任的高管，2024年底起开启产品策略调整， 引入多款插混车型；渠道方面，公司目标2025年底在欧洲建立500个销售点，而截至2024年3月约为250 个。据市场数据，比亚迪今年首5个月在欧洲新能源乘用车市场份额按年升2.8个百分点至4%，同期在 东南亚多国市占率达47%，按年升15个百分点；在南美主要市场市占率保持在77%的高位。产能方面， 除2024年已投产的泰国、乌兹别克斯坦工厂，后续将覆盖南美、欧洲，深化本地化布局。 ...

Core Viewpoint - The Tank brand, under Great Wall Motors, aims for a significant sales increase in 2025, targeting at least 320,000 units globally, with a domestic goal of 240,000 units, despite facing challenges in the first half of 2025 due to increased competition and a slower-than-expected product launch schedule [1][2][5]. Sales Performance - In 2024, Tank achieved a total sales volume of 231,000 units, marking a year-on-year growth of 42.12% [1]. - The first half of 2025 saw Tank's global sales at just over 100,000 units, indicating a substantial gap from the annual target of 320,000 units [2][5]. - The first half of 2025 recorded a year-on-year decline of 10.67% in sales, marking the first negative growth for the brand since its establishment [5][6]. Competitive Landscape - The increase in competition has significantly impacted Tank's market share, with several brands launching similar off-road vehicles since the success of the Tank 300 [6][7]. - Competitors like BYD's Fangchengbao and Chery's Jietu have successfully captured market share, with Fangchengbao's sales reaching 60,700 units in the first half of 2025, a growth of over 232% [8]. Product Strategy - Tank's product lineup has expanded with the introduction of new models, including the Tank 500 Hi4-Z and various versions of the Tank 400 and 300 [10][11]. - The second half of 2025 is critical for Tank, as it plans to launch models equipped with advanced driving systems and comfort features to attract a broader customer base [11][12]. Market Focus - Tank is shifting its focus towards the "pan-off-road" market, which targets a wider audience compared to the traditional strong off-road segment [12][13]. - The strong off-road vehicle market has an annual sales volume of approximately 600,000 units, while the pan-off-road market is significantly larger, reaching a scale of millions [13][14].

Core Insights - In June 2025, BYD achieved sales of 383,000 new energy vehicles, marking a year-on-year increase of 12.0% and remaining flat month-on-month [1][2] Sales Performance - The total sales of new energy vehicles in June 2025 were 383,000 units, with pure electric and plug-in hybrid models selling 207,000 and 171,000 units respectively, showing year-on-year growth rates of +42.5% and -12.5% [2] - Cumulatively, in the first half of 2025, BYD sold 2.113 million new energy passenger vehicles, a year-on-year increase of 31.5% [2] Brand Performance - In June 2025, the sales figures for BYD's brands were as follows: Dynasty + Ocean Network sold 342,737 units, Tengshi 15,783 units, Fangchengbao 18,903 units, and Yangwang 205 units, with year-on-year growth rates of +5.5%, +28.6%, +605.3%, and -51.0% respectively [3] - High-end brands collectively sold 35,000 units in June, a year-on-year increase of 127.0%, with Fangchengbao's model, the Titanium 3, achieving sales of 12,017 units, reflecting a month-on-month growth of 114.67% [3] International Market Expansion - In June 2025, BYD's overseas sales of passenger cars and pickups reached 90,000 units, a year-on-year increase of 229.8% and a month-on-month increase of 1.2% [4] - The overseas sales accounted for 23.4% of total sales, with ongoing efforts to enhance global distribution channels and local production capabilities in Uzbekistan and Thailand [4] Investment Outlook - BYD's technological advancements are expected to drive continued sales growth, supported by the "Universal Intelligent Driving" strategy, which may enhance both volume and pricing [5] - Revenue projections for 2025-2027 are estimated at 1,006.35 billion, 1,212.65 billion, and 1,455.18 billion yuan, with corresponding growth rates of 29.5%, 20.5%, and 20.0% [5] - Net profit forecasts for the same period are 56.37 billion, 69.27 billion, and 83.70 billion yuan, with growth rates of 40.0%, 22.9%, and 20.8% respectively [5]

Group 1 - The event held by Fangcheng Leopard Automotive showcased its technical strength and driving experience, receiving positive feedback from media attendees [1][5] - Fangcheng Leopard's product lineup includes three models: Leopard 5, Leopard 8, and Titanium 3, with Leopard 5 being a star model featuring two intelligent technology options [3] - The Titanium 3 model has achieved over 10,000 deliveries since its launch in April, indicating strong market potential, with a weekly sales record of 3,371 units in the first week of June [3] Group 2 - Media participants experienced test drives of the Leopard 5, Leopard 8, and Titanium 3, highlighting the spaciousness, comfort, and advanced technology of Fangcheng Leopard vehicles [5] - The event reflects BYD's accelerating brand positioning towards the mid-to-high-end market segment, as indicated by the positive market response [5]

Sales Performance - In May 2025, BYD sold 382,476 vehicles, a year-on-year increase of 15.3% [2] - Overseas sales of passenger cars and pickups reached 88,640 units, with the Dynasty and Ocean series contributing 348,393 units, and other models like the Fangchengbao and Tengshi selling 12,592 and 15,806 units respectively [2] Market Expansion - In Japan, BYD's monthly registration exceeded 400 units for the first time in May, entering the top ten imported car brands [3] - The flagship electric SUV, Sealion 07EV, launched in April, accounted for nearly 60% of the brand's sales in Japan, driving overall sales growth [3] European Headquarters - BYD announced its European headquarters in Budapest on May 15, 2025, which will focus on sales, after-sales, vehicle certification, and local design [4] - The headquarters is expected to create thousands of jobs and will collaborate with at least three Hungarian universities for research in smart driving and next-generation electrification technologies [4] New Model Launches - The delivery of the electric model, Yangwang U7, commenced on June 12, 2025, featuring advanced technologies that redefine performance boundaries in the electric vehicle sector [5] - The Fangchengbao Titanium 3 has delivered over 10,000 units and achieved the highest weekly sales among A-class pure electric SUVs from June 2 to June 8 [6]

Core Viewpoint - BYD's sales performance in May highlights its competitive advantages in "scale + technology + brand," maintaining its leading position in the domestic market while accelerating overseas expansion. The company is expected to further solidify its status as a global leader in the new energy vehicle sector with the enhancement of its high-end brand matrix, release of overseas production capacity, and application of new technologies such as batteries and smart driving [1]. Group 1: Sales Performance - In May, BYD sold a total of 382,476 vehicles, representing a year-on-year increase of 5.3% and a month-on-month increase of 1.2%. The sales of new energy passenger vehicles reached 376,930 units, up 14.1% year-on-year, solidifying its position as the industry leader and widening the gap with competitors [2]. Group 2: Core Sales Network - The Dynasty and Ocean networks, as BYD's core sales channels, achieved a combined sales volume of 348,383 vehicles in May, reflecting a year-on-year increase of 10.5%. Classic models from the Qin and Song families continued to perform steadily, while the Ocean network's models, such as Seagull and Dolphin, gained popularity among younger consumers due to their stylish designs and smart features [3]. Group 3: High-End Brand Performance - The Tengshi brand sold 15,806 units in May, marking a year-on-year increase of 29.3%. Notably, the D9 model approached 10,000 units in sales, and the N9 surpassed 5,000 units, demonstrating BYD's successful positioning in the high-end MPV and large six-seat SUV markets. The Fangchengbao brand saw a staggering year-on-year growth of 418.2%, reaching 12,592 units, showcasing BYD's precise market control in niche segments. Although the Yangwang brand sold only 139 units, its high-value positioning contributes significantly to brand premium and revenue [4]. Group 4: Export Growth and Globalization - In May, BYD's overseas sales of new energy vehicles reached 89,047 units, with passenger cars and pickups accounting for 88,640 units, reflecting a year-on-year increase of 133.6%. The export ratio rose to 23%, setting a new historical high. This growth is attributed to BYD's comprehensive market presence in Southeast Asia, Europe, and South America, along with the advancement of localized production and marketing strategies. The strong momentum in overseas sales significantly enhances the likelihood of achieving the annual export target of 800,000 units, positioning international markets as new growth points [5].

Group 1 - JD.com is aggressively expanding into the hotel and flight booking sector, offering 3 times the salary to recruit talent from competitors like Fliggy, Ctrip, and Qunar [4] - The gross profit margins of domestic new energy vehicle companies show significant competition, with Seres leading at 27.62% and Xiaomi following at 23.2% [6][7] - The merger between Changan and Dongfeng has been paused, with Changan's automotive business becoming an independent central enterprise [8] Group 2 - Morgan Stanley reports that Tesla possesses "military DNA" and has the potential to become a defense technology giant, with the urban air mobility market projected to reach $1 trillion by 2040 [20][21] - Qualcomm is preparing for a potential split with Apple, indicating that it no longer relies on Apple's business for future growth [22] - OpenAI's founder's dismissal has inspired a film adaptation, highlighting the dramatic events surrounding the company's leadership changes [25][26] Group 3 - Xiaopeng Motors and Huawei have jointly launched the "Chasing Light" AR head-up display system, which will first be featured in the upcoming Xiaopeng G7 model [17] - BYD has apologized for delays in the delivery of its Fangchengbao Ti3 model due to production capacity issues [15] - Alibaba's senior executive Mei Fengfeng is rumored to be returning to his original business department, although no official announcement has been made [11]