文｜新能源观 众所周知，车企盈利的左右手是"以量取胜"和"以质见长"，前者如比亚迪，后者如赛力斯。 2025年，比亚迪总共销售了460万辆，同比增长7.73%，销量基本盘海洋网和王朝网合计贡献了407.5万辆，占总销量的88%。赛力斯问界汽车2025年新车交 付总计突破42万辆，同比增长9.25%。 图/2025年比亚 迪销量 而从两家车企公布的最新一期财报来看，比亚迪2025年前三季度全球累计销量326万辆，同比增长18.64%；营收达5662.7亿元，同比增长13%；净利润为 233.33亿元，同比下降7.55%。 | 产品名称 | | | 产量 | | | | --- | --- | --- | --- | --- | --- | | | 本月 | 本月同比 | 本年累计 | 累计同比 | 本月 | | 新能源汽车 | 45, 453 | 21. 48% | 310, 084 | -3. 49% | 44, 678 | | 其中:赛力斯汽车 | 42, 459 | 16. 88% | 281, 822 | -5.44% | 41.249 | | 其他车型 | 3, 794 | -40. 29% | 35 ...

转自：中国经营网 文 索寒雪 2025年是"十四五"规划收官、"十五五"规划谋篇布局的关键之年。这一年，从240小时过境免签政策落地实施，到第八届中国国际进口博览会多项指标创历 史新高，再到海南自由贸易港正式启动全岛封关——中国的高水平对外开放从来不是"独角戏"，而是秉持互惠共赢理念、与各国携手同行的"大合唱"。 2025年12月10日至11日召开的中央经济工作会议对2026年经济工作作出重要部署，其中"坚持对外开放，推动多领域合作共赢"被列为2026年重点任务之一。 会议提出"稳步推进制度型开放，有序扩大服务领域自主开放，优化自由贸易试验区布局范围，扎实推进海南自由贸易港建设""推进贸易投资一体化、内外 贸一体化发展""深化外商投资促进体制机制改革""推动共建'一带一路'高质量发展"等一系列部署，彰显了中国持续推动高水平对外开放、与世界经济深度交 融的坚定决心，必将为全球共同发展注入更强劲的中国动力。 中国开放多元图景：从民间烟火到制度创新 2025年以来，一系列便利化举措让世界直接感受到中国的开放与温度。随着入境游便利化举措持续落地见效，"China Travel（中国游）"成为海外社交平台 上的流行热词 ...

华为的折叠屏，比亚迪的仰望U8，已经成了中东土豪标配了 有钱人都是知道什么是真 的好东西的 特别声明：以上文章内容仅代表作者本人观点，不代表新浪网观点或立场。如有关于作品内容、版权或其它问 题请于作品发表后的30日内与新浪网联系。 华为折叠屏比亚迪仰望U8成中东土豪标配 华为折叠屏比亚迪仰望U8成中东土豪标配 ...

Core Viewpoint - The rise of domestic large SUVs, particularly the Zeekr 9X, is reshaping consumer preferences, as buyers seek more affordable alternatives to luxury models like the Rolls-Royce Cullinan, leading to increased sales and interest in the segment [1][3][5]. Market Trends - The domestic large SUV market is becoming increasingly competitive, with multiple brands launching models over 5.2 meters in length, indicating a shift from niche to mainstream [3][5]. - In the first seven months of 2025, China's SUV market saw retail sales of 6.294 million units, a year-on-year increase of 13.1%, with mid-to-large SUVs growing by 8.6% [5]. Consumer Behavior - There is a noticeable trend of consumers shifting from high-end imported vehicles to domestic full-size SUVs, driven by the appeal of larger space and practical features at lower prices [5][9]. - Many consumers, previously inclined towards luxury brands, are now considering domestic options due to their competitive pricing and features [7][9]. Product Features - The Zeekr 9X is priced between 465,900 and 599,900 yuan, offering advanced technologies typically found in luxury vehicles, such as a closed dual-chamber air suspension system [6][9]. - Other models like the Leap D19 and Haval H5 are pushing the boundaries of affordability, with prices as low as 150,000 yuan while offering substantial features [6][9]. Marketing Strategies - Domestic brands are positioning their vehicles as "alternatives" to luxury models, leveraging design similarities to attract attention and enhance brand image [10][19]. - The strategy of mimicking successful luxury designs while incorporating unique brand elements is seen as a way to reduce market acceptance risks [10][11]. Challenges Ahead - Despite the growing interest, the market for these "alternatives" remains limited, and brands are primarily focused on capturing high-end users to elevate their market presence [9][19]. - The perception of luxury and social status associated with traditional high-end brands poses a challenge for domestic manufacturers to overcome [18][19].

Core Viewpoint - The luxury car market, once dominated by traditional fuel vehicles, is facing significant pressure from the rise of electric vehicles, leading to a decline in the appeal of traditional luxury brands [1][4]. Group 1: Market Dynamics - The introduction of a new consumption tax policy has intensified competition in the luxury car market, with the tax threshold lowered from 1.3 million to 900,000 yuan, affecting sales [2][3]. - Many traditional luxury car dealerships are experiencing reduced foot traffic and are resorting to discounts and promotional activities to attract customers [2][3]. - Despite promotional efforts, the expected surge in consumer interest has not materialized, indicating a shift in consumer behavior towards more rational purchasing decisions [3][4]. Group 2: Impact of Domestic Brands - Domestic brands are increasingly encroaching on the high-end market, leveraging advancements in electric and intelligent vehicle technologies to challenge traditional luxury brands [4][5]. - The market share of domestic brands in the mid-to-high-end segment is growing, with several models from brands like NIO and BYD competing directly with luxury vehicles [5][6]. - Traditional luxury brands are not only facing price pressures but also the challenge of rising domestic luxury brands that are gaining consumer acceptance [4][5]. Group 3: Changing Consumer Preferences - Consumer perceptions of luxury are shifting from brand prestige to practical usage experiences, emphasizing features like technology and convenience over mere brand recognition [6][7]. - The focus on intelligent technology and electric capabilities is becoming a core competitive advantage for domestic luxury brands, which are expected to continue expanding their market presence [6][7]. Group 4: Traditional Brands' Response - Traditional luxury brands are accelerating their transformation efforts, introducing electric models and collaborating with local tech companies to better meet market demands [7]. - The competition in the luxury car market is expected to increasingly hinge on technological advancements in electric and intelligent vehicles, as well as the ability to respond to local consumer needs [7].

Group 1: Advanced Electric Drive Technologies - The current trend in high-end vehicles includes three and four motor distributed electric drive technologies, with models like Tengshi N9 and Xiaomi SU7 Ultra starting at approximately 400,000 yuan [2] - Two motors can achieve four-wheel drive, but adding more motors allows for better performance and control, as seen in models like BYD Yangwang U8 and Mercedes G580, which can perform precise maneuvers and rapid acceleration despite their weight [5][6] - The use of axial flux motors is emerging, offering higher power density and efficiency compared to traditional radial flux motors, as demonstrated in the AMG GT XX concept car [19][25] Group 2: Active Suspension Systems - Active suspension systems are primarily found in high-end models such as BYD Yangwang series and NIO ET9, with entry prices around 800,000 yuan, providing significant benefits in comfort and handling [6][12] - These systems can dynamically adjust suspension stiffness and height, enhancing ride comfort and vehicle stability during various driving conditions [8][10] - Advanced active suspensions can also adapt to different scenarios, such as raising for off-road clearance or lowering for improved aerodynamics at high speeds [12] Group 3: Aerodynamic Enhancements - Modern vehicles are increasingly incorporating aerodynamic features for improved performance and efficiency, such as active rear wings that provide significant downforce and braking assistance [13][15][16] - Active aerodynamic components, like adjustable wheel rims and air intakes, are designed to optimize cooling and reduce drag, thereby enhancing vehicle range and performance [18] Group 4: Innovative Engine Technologies - The FreeValve technology, which eliminates the camshaft in engines, allows for independent control of each valve, simplifying engine structure and improving efficiency [26][28][29] - This technology enables the engine to switch between different operating cycles seamlessly, optimizing performance based on driving conditions [29]

Core Insights - Porsche's electric vehicle strategy faces challenges with aggressive targets and slow implementation, as the Cayenne Electric begins road testing and is expected to launch in 2026 [1] - The company aims for over 50% of new cars to be electric by 2025 and over 80% by 2030, but only 27% of deliveries in 2024 are expected to be electric vehicles [1][2] - Sales and profits have declined, with a 6.1% drop in new car deliveries in the first half of 2025 and a 26% decrease in the crucial Chinese market [2] Electric Vehicle Progress - Porsche currently has two electric models: the Taycan and the Macan Electric, with the latter delayed until 2024 [2] - The Taycan has sold over 150,000 units since its launch, but overall electric vehicle sales have not met expectations, with less than 15% of deliveries being electric [2][3] Financial Performance - In the first half of 2025, Porsche's sales revenue was €18.16 billion, a 6.7% decline, marking the first half-year drop since 2020 [2] - Operating profit fell to €1.01 billion, a significant decrease of approximately 67% [2] Competitive Landscape - The rapid iteration of smart electric vehicles in China has put Porsche at a disadvantage, as local competitors offer advanced features that Porsche's electric models lack [3] - The luxury electric vehicle market is becoming increasingly competitive, with brands like Tesla and BYD offering lower prices and comparable performance [4] Strategic Adjustments - In September 2023, Porsche announced delays for several electric models and extended the production life of internal combustion and hybrid vehicles for the next decade [5] - The company plans to enhance its competitiveness by launching the pure electric 718 by 2027 and integrating localized technology in its vehicles sold in China [6] Cost Management - Porsche has initiated a global efficiency optimization plan to reduce costs, aiming to cut approximately 3,900 jobs and save €800 million in operational costs annually [6] - The company is focusing on local operations in China, with plans to establish a research center in Shanghai to enhance smart cockpit and driving assistance technologies [6]

Core Insights - Porsche's electric vehicle (EV) strategy faces challenges with aggressive targets and slow implementation, as the Cayenne Electric begins road testing and is expected to launch in 2026 [1] - The company aims for over 50% of new cars to be electric by 2025 and over 80% by 2030, but only 27% of deliveries in 2024 are expected to be EVs [1][2] - Sales have declined significantly, with a 6.1% drop in new car deliveries in the first half of 2025 and a 26% decrease in the crucial Chinese market [1][2] Sales and Financial Performance - Porsche's sales revenue for the first half of 2025 was €18.16 billion, a 6.7% decline, marking the first half-year drop since 2020 [3] - Operating profit fell to €1.01 billion, a staggering 67% decrease year-on-year [3][4] - The decline in sales is attributed to high R&D costs for EVs, underperformance in sales, and weak demand for traditional fuel vehicles [4] Product Development and Market Position - Porsche currently has two electric models: the Taycan and the Macan Electric, with the latter not expected to deliver until 2024 [2] - The Taycan has sold over 150,000 units since its launch, but the overall EV sales have not met expectations, with less than 15% of deliveries being electric vehicles [2] - The company faces competition from local Chinese manufacturers that offer advanced smart features and competitive pricing, impacting Porsche's market position [5][6] Strategic Adjustments - In September 2023, Porsche announced delays in several new EV models and extended the production life of internal combustion and hybrid vehicles for the next decade [7] - The company plans to launch the pure electric 718 by 2027 and enhance local market adaptations, including integrating local applications into their vehicles [7][8] - A global efficiency optimization plan aims to reduce approximately 3,900 jobs, saving €800 million in operational costs over the coming years [9]

Core Insights - The upcoming Chengdu Auto Show in 2025 will feature a variety of vehicles, models, and manufacturer presentations, highlighting the importance of attending press conferences to gain deeper insights into vehicle design and development [1] Group 1: Vehicle Presentation - At the Shanghai Auto Show, BMW showcased a series of new generation models that reflect significant changes in design, technology, and brand philosophy [3] - The new generation models are equipped with BMW's latest intelligent electronic architecture, including the panoramic iDrive and advanced AI capabilities [5] Group 2: Vehicle Design and Performance - The design of vehicles is increasingly focused on emotional value, with various aesthetic approaches such as space-oriented and engineering-oriented designs [8] - The Li Auto MEGA model features a unique "bullet head" design prioritizing aerodynamics, achieving a drag coefficient of only 0.215 while maintaining a spacious interior [10] - Advanced powertrain configurations, such as three-motor and four-motor drives, are becoming standard, allowing for independent wheel control and enhanced vehicle dynamics [12][14] Group 3: Structural Integrity and Safety - The design of the vehicle's body is a key indicator of a manufacturer's technical capabilities, with modern techniques like die-casting being favored for their advantages [15] - Vehicle stiffness and strength are critical metrics, with stiffness affecting handling and NVH performance, while strength relates to safety during collisions [17][21] Group 4: Cultural Significance - The philosophy of automotive design emphasizes the creation of timeless vehicles, as exemplified by Porsche's evolution from the 356 to the iconic 911, which maintains classic design elements [23] - Porsche has achieved significant success in motorsport, winning numerous championships and creating unique community experiences through events and driving experiences [25]

Group 1 - The definition of "luxury cars" is evolving in China, with consumers increasingly valuing technology and user experience over traditional metrics like price and brand prestige [1][3][11] - Chinese automotive brands are advancing into the luxury car segment, offering high-end features that were once exclusive to imported luxury vehicles, such as air suspension and advanced infotainment systems [2][4][5] Group 2 - The introduction of air suspension technology in domestic vehicles has significantly reduced costs, with entry-level models now starting around 200,000 yuan, down from 500,000 yuan [4] - The market share of Chinese brands in the 300,000 yuan and above segment is increasing, with companies like NIO and Li Auto successfully targeting high-end consumers [5][6] Group 3 - Chinese brands are gaining recognition in the high-end market, with a reported 68.5% share of total passenger vehicle sales in the first half of the year, a 6.6 percentage point increase year-on-year [6][7] - The perception of "Chinese cars" is shifting, as brands like BYD and Lantu penetrate the premium market, challenging the stereotype of low-cost, economy vehicles [7][8] Group 4 - Traditional luxury brands are facing challenges in the Chinese market, with significant declines in sales for BMW, Mercedes-Benz, and Audi, particularly in the first half of the year [9][10] - In response, these brands are accelerating their electric vehicle strategies and collaborating with local suppliers to meet the diverse demands of Chinese consumers [10][11]