Core Insights - The German automotive giants, Mercedes-Benz, BMW Group, and Volkswagen Group, reported their Q3 2025 financial results, revealing significant pressure on their performance due to high costs associated with electric vehicle (EV) transformation [1] Financial Performance - Volkswagen Group's revenue for the first nine months of 2025 was €238.7 billion, a slight increase of 0.6% year-on-year, but operating profit fell by 57.8% to €5.4 billion. In Q3, the group reported an operating loss of €1.299 billion compared to an operating profit of €2.833 billion in the same period last year [2] - Porsche's performance was notably poor, with revenue of approximately €26.86 billion for the first nine months, down 6% year-on-year, and a drastic 99% drop in sales profit to €40 million. The company incurred a loss of €966 million in Q3 alone [2] - Mercedes-Benz Group's Q3 revenue was €32.147 billion, a decline of 6.9%, with operating profit plummeting over 70% to €750 million. Net profit after tax was €1.19 billion, down 30.8%. For the first three quarters, net profit was €3.88 billion, a decrease of about 50% [2] - BMW Group's Q3 revenue was €32.314 billion, a slight decrease of 0.3%, while total revenue for the first three quarters was €99.999 billion, down 5.6%. The group reported a pre-tax profit of €8.056 billion for the first three quarters, a decline of 9.1% [3] Regional Performance - Mercedes-Benz maintained revenue growth in Europe but faced declines in North America and Asia, with North American revenue down 9.4% to €8.277 billion and Asian revenue down 22.3% to €7.234 billion [3] - BMW Group's Q3 deliveries reached nearly 590,000 units, an increase of 8.7% year-on-year, with total deliveries for the first three quarters at 1.7957 million units, up 2.4%. European market deliveries grew by 8.6%, while U.S. deliveries increased by 9.5% [4] - Volkswagen Group's global sales for the first three quarters were 6.58 million units, a 1.8% increase, but sales in North America and Asia showed a year-on-year decline [4] Electric Vehicle Transition - The high costs associated with the transition to electric vehicles are significantly impacting the financial performance of these automakers. Mercedes-Benz is focusing on electric and digital transformation, expecting results by 2027 [5] - Volkswagen's management noted that the ramp-up of electric vehicle production diluted the group's operating profit margin, with a negative impact of approximately €3 billion due to increased EV share and price differences in various markets [6] - BMW's electric vehicle strategy is accelerating, with a 10% year-on-year increase in pure electric vehicle sales, now accounting for 18% of total sales. The group aims to launch hydrogen fuel cell vehicles by 2028, with significant progress in R&D in China [6]

金秋时节，"十四五"收官在即，在以习近平同志为核心的党中央坚强领导下，中国经济克服重重风浪、 勇毅前行，不仅迎来新的丰收时节，更给世界各国带来新的机遇与期待。 "中国为世界经济提供了不可或缺的确定性与前进动能。"老挝国家工商会副主席塔农鑫说，中国通过完 备的工业体系和高效供应链，有力维护国际产业链供应链的韧性和平稳运行；通过共建"一带一路"倡议 和国际产能合作，带动跨国投资共赢，为发展中国家破解基础设施瓶颈，推动中老铁路、中欧班列等互 联互通项目重塑亚欧经济地理格局，显著降低全球物流与交易成本。 这是国际形势风云变幻、多重挑战困扰世界的5年，也是中国经济展现巨大韧性、推动各国共同发展的5 年。多国人士表示，中国以显著高于全球整体水平的增速，继续担当世界经济的重要引擎，为其他国家 带来重要发展机遇，并以治理智慧与经验启迪世界经济航船行稳致远。 迎风前行 担当全球增长动力引擎 在位于肯尼亚首都内罗毕的一家仓库里，工作人员忙碌地理货、扫码、打包。作为第一家进入非洲互联 网和电商行业的中国公司，这家名为Kilimall的企业已发展成为东非头部电商平台，在肯尼亚、乌干 达、坦桑尼亚等国家建立了大型海外仓，通过推广直播带 ...

新华社北京10月17日电 题：迎风搏浪 勇毅前行——推动世界经济不断前行的"中国引擎" 新华社记者邓茜 闫洁 陈斯达 金秋时节，"十四五"收官在即，在以习近平同志为核心的党中央坚强领导下，中国经济克服重重风 浪、勇毅前行，不仅迎来新的丰收时节，更给世界各国带来新的机遇与期待。 这是国际形势风云变幻、多重挑战困扰世界的5年，也是中国经济展现巨大韧性、推动各国共同发 展的5年。多国人士表示，中国以显著高于全球整体水平的增速，继续担当世界经济的重要引擎，为其 他国家带来重要发展机遇，并以治理智慧与经验启迪世界经济航船行稳致远。 迎风前行 担当全球增长动力引擎 在位于肯尼亚首都内罗毕的一家仓库里，工作人员忙碌地理货、扫码、打包。作为第一家进入非洲 互联网和电商行业的中国公司，这家名为Kilimall的企业已发展成为东非头部电商平台，在肯尼亚、乌 干达、坦桑尼亚等国家建立了大型海外仓，通过推广直播带货、提升物流效率，激发当地经济的活力与 潜力。 这是中国数字经济带动其他地区发展的一个缩影。5年来，中国在国际贸易与投资、实体经济、新 兴产业等方面拓展互利合作，不断为世界经济注入动能、驱动增长。 "面对复杂严峻的国际形势， ...

Group 1 - The core strategy of SAIC Group's commercial vehicle development is to implement institutional reforms and introduce a more open market mechanism, optimizing operations and welcoming external investors [1][2] - In 2025, SAIC Group will focus on two main OEM (Original Equipment Manufacturer) business segments: passenger vehicles and commercial vehicles, with SAIC Maxus as the core of the commercial vehicle business [2] - The integration of light commercial vehicle segments, including the Maxus, Yuejin, and Iveco brands, aims to enhance resource sharing and operational efficiency [2] Group 2 - Future development directions for SAIC's commercial vehicles will center on new energy and intelligent technology, with plans to launch a wide-body hybrid light passenger vehicle and explore hydrogen fuel cell models [2] - SAIC Maxus has announced a comprehensive strategic partnership with Huawei in the commercial vehicle sector during the Shanghai Auto Show [2] - The company aims to establish an independent overseas entity for commercial vehicle operations to better navigate international markets, with current coverage in 73 countries and regions [6] - The goal for exports is to exceed 100,000 units this year, with an expected growth of 30% to 40% in the following year, setting higher targets for the next 2-3 years [6]