此前我们分析了中国品牌在澳大利亚、以色列、新加坡等"关税友好"发达国家的销量表现，经过几年的持续增长，中国品牌2025年在以色列、新加坡的市场 份额都超过了30%，在澳大利亚也超过15%。 不过在更核心的西方市场，对进口自中国的汽车普遍实施了高额关税的壁垒，尤其是北美地区的美国和加拿大，中国在当地市场份额几乎可以忽略不计，而 在壁垒相对宽松一些的欧洲市场，中国品牌开辟市场存在较大困难，但也取得了一定的成绩。 今天我们就盘点一下欧洲市场的数据，看看2025年中国品牌啃下了当地多少市场份额。 01 欧洲整体市场 首先需要说明：这里我们说的欧洲，囊括了欧盟27国、EFTA四国和英国，总计32个国家，整体是全球经济、工业、人均生活水平最高的地区之一。 2025年的欧洲市场，新车销量总计达到1327.1万辆，同比增长2.4%。对于如此大规模的一个市场，2025年能取得整体正增长已经颇为不易。 | | | 2025年欧洲市场汽车品牌销量Top 10 | | | | --- | --- | --- | --- | --- | | 排名 | 品牌 | 領量 | 市场份额 | 同比 | | ר | 大众 | 1444194 | ...

最近，全球混动市场格外热闹。先是丰田汽车计划到2028年将混合动力汽车（HEV）及插电式混 合动力汽车（PHEV）产量提升至约670万辆，较其2026年的计划增产约3成，更是占到公司总产量的 近6成；随后，吉利汽车又宣布2026年将陆续推出4~5款搭载吉利i-HEV智能双擎技术的全新混动车 型。 在中国，混动市场主要以插混为主，且增速明显不及纯电动汽车。数据显示，2025年我国纯电动 汽车销售1062万辆，同比增长37.6%；插电式混动车型销售586万辆，同比增长14%。依照丰田的规 划，其混合动力车型产量增长不仅聚焦于HEV车型，同样强调了PHEV车型。这恰恰说明，丰田一面 以HEV为存量燃油车找好退路，一面把PHEV当作电动化转型的突破口。针对前者，丰田有着成熟的 技术护城河；对于后者，其对充电网络的较低要求则能够迅速在全球不同市场推广开来。可见，这并 非一次逆势的任性之举，反倒是经过深思的"两手抓"战略。 研究机构Dataforce的数据显示，2025年11月，中国品牌在欧洲混合动力车领域的市场份额突破 13%。在2025年欧洲最畅销插混车型前十榜单上，比亚迪Seal U更是击败大众、沃尔沃等跃升榜首， ...

中国汽车为欧洲民众提供了一种物美价廉的代步工具。例如，比亚迪Seal U上市第一年就成为欧洲最畅 销的插电式混合动力汽车。今年2月，美国欧洲政策分析中心（CEPA）在文章中称赞中国汽车"性能优 异且价格低廉"。欧洲车企制造的电动汽车平均价格接近5万欧元，而中国部分车型的起价则低至2万至 3.4万欧元。可以想象，无论是提高关税还是取消补贴，如果中国汽车售价上升，最受伤害的就是希望 购买中国汽车的欧洲民众。 同时，欧盟强迫车企从本土采购零部件的最终结果，也很可能会事与愿违。本土采购的供应商选择范围 更为有限，成本必然高于全球采购，这很可能导致汽车制造成本的大幅上升，进一步削弱欧洲汽车的全 球竞争力。 今年2月，欧洲布鲁盖尔智库多位研究员联合发表文章称，欧盟不应为了保护产业而走上"本土含量要 求"的道路，而应保持对国际合作的开放态度。文章指出，产业政策应当充分考虑"全球比较优势"，即 某些国家生产某些产品比其他国家便宜得多。《工业加速器法案》的要求会提高出口导向型企业的成 本，从而减缓欧盟本土产业转型。 据《金融时报》等外媒近日报道，欧盟委员会正计划发布《工业加速器法案》。该法案要求汽车企业必 须确保其汽车中至少7 ...

原标题：保护主义无助于提升欧盟汽车产业竞争力 【正听】 ◎胡定坤 据《金融时报》等外媒近日报道，欧盟委员会正计划发布《工业加速器法案》。该法案要求汽车企业必 须确保其汽车中至少70%的零部件产自欧盟境内，才能获得欧盟国家补贴和公共机构合同，其目的是保 护欧盟汽车产业免受来自中国的激烈竞争。 近年来，中国汽车，特别是电动汽车，在欧洲市场广受欢迎。2025年，中国车企在欧销售超过81万辆汽 车，比2024年增长99%，去年12月市场渗透率已接近10%。2026年1月，欧洲市场新车销量总量同比下 降3.6%，而中国汽车在欧销量仍同比上涨80%。特别值得注意的是，这是在欧盟对中国电动汽车征收高 达35%巨额关税的情况下，中国车企取得的成绩。 在关税壁垒失效的情况下，欧盟希望通过要求零部件本地生产，达到"一石二鸟"的目的——既阻止中国 车企获得欧盟国家补贴，在关税的基础上进一步削减中国电动汽车的价格优势；又强迫欧洲车企从本地 采购汽车零部件，促进欧盟本土汽车产业的发展和相关供应链的完善。 欧盟此举将严重违反平等、开放的国际贸易规则，是赤裸裸的贸易保护主义。世界贸易组织（WTO） 《与贸易有关的投资措施协定》明确规定，W ...

年9月11日，人们在德国慕尼黑国际车展户外展区比亚迪展区参观的资料照片。新华社记者 张帆 摄 近年来，中国汽车，特别是电动汽车，在欧洲市场广受欢迎。2025年，中国车企在欧销售超过81万辆汽 车，比2024年增长99%，去年12月市场渗透率已接近10%。2026年1月，欧洲市场新车销量总量同比下 降3.6%，而中国汽车在欧销量仍同比上涨80%。特别值得注意的是，这是在欧盟对中国电动汽车征收高 达35%巨额关税的情况下，中国车企取得的成绩。 据《金融时报》等外媒近日报道，欧盟委员会正计划发布《工业加速器法案》。该法案要求汽车企业必 须确保其汽车中至少70%的零部件产自欧盟境内，才能获得欧盟国家补贴和公共机构合同，其目的是保 护欧盟汽车产业免受来自中国的激烈竞争。 这是2025 在关税壁垒失效的情况下，欧盟希望通过要求零部件本地生产，达到"一石二鸟"的目的——既阻止中国 车企获得欧盟国家补贴，在关税的基础上进一步削减中国电动汽车的价格优势；又强迫欧洲车企从本地 采购汽车零部件，促进欧盟本土汽车产业的发展和相关供应链的完善。 欧盟此举将严重违反平等、开放的国际贸易规则，是赤裸裸的贸易保护主义。世界贸易组织（WTO） ...

Group 1 - The EU is considering extending anti-subsidy tariffs on Chinese electric vehicles to include hybrid vehicles due to the rapid increase in sales of Chinese plug-in hybrids in Europe [3][4] - In October 2023, the EU initiated an anti-subsidy investigation into Chinese electric vehicles, claiming they distort the European market due to unreasonable subsidies [3][4] - The EU's investigation could lead to additional tariffs on Chinese electric vehicles, with rates potentially reaching up to 35.3% for certain manufacturers [3][4] Group 2 - Chinese car manufacturers are accelerating local production in Europe, with companies like Chery, Xpeng, and GAC already establishing assembly operations [2][6] - BYD plans to start trial production at its Hungarian passenger car factory in Q1 2026, with full production expected in Q2 2026 [2][8] - The overall sales of Chinese plug-in hybrids in Europe are projected to grow significantly, with a 645% increase expected in 2025, capturing a market share of 14% [4][5] Group 3 - The local production strategy of Chinese car manufacturers is characterized by a comprehensive approach, including supply chain, R&D, and service localization [6][9] - Xpeng is establishing a localized supply chain team in Europe and has opened a R&D center in Munich to better align with local market demands [9][10] - BYD has set up its European headquarters in Budapest, focusing on sales, after-sales, and local vehicle design, indicating a commitment to the European market [9][10] Group 4 - GAC aims to achieve an overseas sales target of 250,000 units by 2026, with Europe being a key market for its expansion [10][11] - NIO is establishing user experience centers in Norway and Germany to enhance brand perception and service offerings in Europe [11] - Xpeng leads the European market in customer satisfaction with an 81% rating, surpassing Tesla, while NIO ranks seventh among traditional luxury brands [11]

Core Insights - In 2025, China's automobile exports reached 8.32 million units, a 30% year-on-year increase, marking a historical high and reflecting the industry's enhanced competitiveness in the global market [2] - The growth in exports is driven by the rise of new energy vehicles (NEVs), which have become a core growth engine, with overseas markets playing a crucial role in the industry's development [2] Export Volume and Structure - Passenger vehicles accounted for over 80% of total exports, while commercial vehicle exports remained stable, with new energy commercial vehicles emerging as a highlight [3] - In December 2025, the monthly export volume reached 990,000 units, a 73% year-on-year increase and a 23% month-on-month increase [3] - NEV exports totaled 3.43 million units, a 70% increase compared to 2024, with pure electric vehicles making up 28% of exports, hybrid vehicles 13%, and traditional fuel vehicles dropping to 43% [3] Price Trends - The average export price of Chinese automobiles in 2025 was $18,200, a 15.7% increase year-on-year, while the average price for NEVs reached $29,800, 83.5% higher than traditional fuel vehicles [3] Market Performance - In Europe, Chinese automakers achieved significant growth, with December 2025 sales reaching 109,864 units, a 127% year-on-year increase, and a market share of 9.5% [5] - For the entire year, sales in Europe reached 810,000 units, a 99% increase, contributing to a 2.3% growth in the European car market [5] Regional Developments - Southeast Asia saw exports of 1.985 million units, a 24.7% increase, while Latin America recorded 1.652 million units, a 36.8% increase [6] - The Middle East market exported 826,000 units, with NEV exports reaching 128,000 units, a 132% increase [6] Industry Ecosystem - The transformation of China's automobile exports from single vehicle exports to a full industry chain ecosystem is evident, with battery companies establishing production bases globally and entering international supply chains [6] - The export of auto parts reached $89.2 billion, with technology suppliers providing smart driving solutions to global automakers [6]

Investment Rating - The investment rating for the automotive industry is "Positive" (maintained) [1] Core Insights - The Western European passenger car market is large, with significant room for improvement in the penetration rate of new energy vehicles (NEVs). The annual sales of passenger cars in Western Europe exceed 10 million units, and the NEV penetration rate increased by 6 percentage points year-on-year to 29% in the first ten months of 2025. Countries with high passenger car sales, such as Germany, the UK, France, Spain, and Italy, have NEV penetration rates generally below 35% [3][6][12] - The growth of the European NEV market in 2026 is supported by policy foundations, including comprehensive EU regulations and incentives for NEV adoption. The EU aims for climate neutrality by 2050, and while there are adjustments to the 2035 "zero-emission" target, the overall goals remain intact [12][15] - With Chinese manufacturers accelerating their presence in Europe, it is expected that NEV exports from China to Europe will see rapid growth in 2026. Currently, major shares in the Western European NEV market are held by manufacturers like Volkswagen and BMW, but companies like BYD are increasing their market share [20][28] Summary by Sections 1. Western European Passenger Car Market - The market is characterized by a significant annual sales volume exceeding 10 million units, with a NEV penetration rate that has room for growth. The focus will be on B/SUV-B/C/SUV-C models to enhance NEV penetration [3][6][10] 2. Policy Support for NEV Growth in 2026 - The EU has established clear targets for NEV transition, with penalties and incentives for carbon emissions. The 2026 NEV market growth is expected to be bolstered by continued or new subsidies in key European countries [12][15] 3. Growth of Chinese Manufacturers in Europe - Chinese manufacturers are expected to see significant growth in NEV exports to Europe, with companies like BYD and Geely leading the charge. The expansion of sales networks and local production will contribute to this growth [20][28]

Core Insights - Chinese automakers, led by BYD, are dominating the electric vehicle market in Europe with advanced technology and competitive pricing, while traditional European manufacturers maintain a foothold in the plug-in hybrid vehicle segment [1][7] - The shift towards plug-in hybrid vehicles in Europe could see Chinese companies capturing significant market share by 2035, as they continue to introduce lower-priced and longer-range models [1][7] Market Dynamics - BYD Seal U has become the best-selling plug-in hybrid vehicle in Europe, capturing approximately 5.5% market share in the first nine months of 2025 [2] - In the UK, Chery Jaecoo 7 was the best-selling plug-in hybrid model in August [2] Competitive Landscape - Traditional hybrid models like Toyota Prius, which use conventional engines and smaller batteries, often have lower purchase and operating costs compared to plug-in hybrids [4] - Chinese manufacturers are expanding production and mastering battery supply chains, making their plug-in hybrids more affordable [4] - Chery Omoda 7 is set to launch in the UK with a starting price of £32,000, lower than Toyota and Honda's hybrid models, while offering a pure electric range of 56 miles (90 km) [4] Sales Growth - The sales of plug-in hybrid vehicles in Europe have surged, with a 32% year-on-year increase in the first nine months of this year, nearing 920,000 units [5] - Electric vehicle sales also grew by 25%, reaching 1.8 million units [5] - Plug-in hybrids accounted for 10% of new passenger car sales in the region during the third quarter, with about one-seventh being new models from Chinese companies [5] Future Outlook - European traditional automakers are losing competitive edge in plug-in hybrid technology to Chinese manufacturers [7] - The EU's tightening of carbon emission regulations and the potential reduction in subsidies for plug-in hybrids may impact future demand [7] - The International Council on Clean Transportation (ICCT) reports that plug-in hybrid vehicle sales in China have surged from approximately 240,000 in 2020 to 4.9 million last year, capturing 19.5% of the new passenger car market [8] - The average range of Chinese plug-in hybrids is 116 km, compared to 78 km in Europe and 70 km in the US [8]

Core Viewpoint - The global automotive industry is undergoing a restructuring phase, with China expected to lead in electric vehicle (EV) penetration and export growth by 2025, achieving over 50% penetration in new energy vehicles (NEVs) [2][4][25]. Group 1: China's NEV Market - By 2025, China's NEV penetration rate is projected to exceed 50%, with a significant increase in sales volume, reaching 1,077,000 units in 2024, a 68% year-on-year growth [4][25]. - As of August 2025, the market share of Chinese brands in the NEV sector is 89%, indicating strong domestic performance [4][8]. - The export of NEVs from China is on the rise, with a 14.5% year-on-year increase in total passenger car exports, and NEVs accounting for 41% of total exports by August 2024 [8][20]. Group 2: Global NEV Trends - Global consumer awareness of electric and intelligent technologies has been established, leading to accelerated product launches by European, American, and Japanese automakers, with significant growth expected in NEV penetration rates in non-Chinese markets [3][24]. - The EU's NEV penetration rate is expected to rise to 27% by 2025, driven by regulatory pressures and increased model availability from automakers [28][29]. - Emerging markets, particularly in Southeast Asia and Latin America, are witnessing rapid growth in NEV sales, with Vietnam and Thailand showing significant increases in penetration rates [17][20]. Group 3: Competitive Landscape - Chinese automakers are expected to continue gaining market share in international markets, with projections indicating that by 2030, Chinese brands could achieve nearly 30 million units in global production, including over 5.5 million NEVs [2][39]. - In the EU, traditional automakers still dominate, but Chinese brands like BYD are increasing their market share, reaching 3.7% in the NEV segment by mid-2025 [12][19]. - The Latin American market is primarily led by traditional automakers, but Chinese brands are steadily increasing their presence, with BYD's market share in the NEV segment rising from 60% to 77% [23][20].