该公司指出，在年初经历短暂激增后，纯电动车(BEV)市场正呈现显著"降档"态势。这一现象源于第三 季度出现的"销售前置"效应——为赶在联邦税收抵免政策到期前完成交易，大量电动车需求被提前透 支。受此影响，第四季度BEV销量出现大幅回落，12月单月市场份额仅余约6%。随着市场逐步适应补 贴退坡后的新环境，这种疲软态势预计将持续至2026年上半年。 除电动车市场放缓外，标普全球汽车分析认为，抑制整体车市销量动能的核心因素仍是车辆可负担性问 题。该机构报告显示，过去两年间，高企的购车成本持续削弱市场增长动能，且这一结构性难题依 然"顽固"存在。这种持续的价格压力，正为消费者购车决策和车企2026年市场布局蒙上阴影，形成充满 不确定性的市场氛围。 智通财经APP获悉，据标普全球汽车(S&P Global Mobility)的最新预测，2026年美国轻型车销量将同比 下降2.5%，总量降至1589万辆。标普全球的Chris Hopson对此发出警示："当前本就谨慎的消费者群 体，若叠加车企可能采取的涨价行为，将直接导致2026年销量表现弱于2025年水平。" 零部件标的：Adient (ADNT.US)、Allison ...

Group 1 - The global sales of new energy vehicles (NEVs), including BEVs, PHEVs, and hydrogen fuel cell vehicles, are projected to reach 4.02 million units in Q1 2025, representing a year-on-year increase of 39%, with NEVs accounting for 18.4% of total global car sales in the same period [1] - The estimated total sales of NEVs for the entire year of 2025 is 19.47 million units, reflecting a year-on-year growth of 19.6% [1] Group 2 - In Q1 2025, the sales of BEVs reached 2.67 million units, marking a year-on-year increase of 45%, with BYD maintaining the top position in sales with a market share of 15.4%, followed by Tesla at 12.6% [3] - Geely's sales saw a significant increase of 443% year-on-year, aided by the launch of new models, while Xiaopeng's sales were largely driven by its affordable model, the Mona M03 [3] - Volkswagen ranked fifth in BEV sales, with a year-on-year growth of 41%, driven by its strategy "In China, For China" to enhance its product offerings in the Chinese market [3] Group 3 - The sales of PHEVs in Q1 2025 totaled 1.35 million units, showing a year-on-year increase of 28%, with BYD leading the market with a share of approximately 38.7% [4] - Geely's PHEV sales benefited from the strong performance of the Galaxy series, achieving a 158% year-on-year increase and securing the third position in the market [4] - Some Chinese brands, such as Aito, experienced a decline in sales, with a 47% drop compared to the same period last year, indicating increased competition in the market [4]