Core Insights - SAIC Motor Corporation has reported impressive sales figures for September, with total vehicle sales reaching 440,000 units, a year-on-year increase of 40.4% and a month-on-month increase of 21%, reclaiming the top position in the industry [1] - The company has achieved a cumulative wholesale volume of 3.193 million units in the first nine months of the year, reflecting a year-on-year growth of 20.5%, while retail sales reached 3.378 million units, indicating strong end-user demand [1] Group 1: Growth Drivers - The significant rise in sales is attributed to SAIC's strategic transformation focusing on self-owned brands, new energy vehicles, and overseas markets, which are referred to as the "new three driving forces" [1][2] - In September, SAIC's self-owned brand sales reached 294,000 units, marking a year-on-year increase of 50.4% and accounting for 67% of total sales [2] - The MG4 and Roewe M7 DMH models contributed to a remarkable 72.4% year-on-year increase in sales for SAIC passenger vehicles, with domestic sales soaring by 245.3% [2] Group 2: Technological Advancements - SAIC's proprietary technologies, including the DMH super hybrid system and the Magic Cube battery platform, have enabled rapid market success for models like MG4 and the new generation of Zhiji LS6 [3] - The new generation Zhiji LS6 achieved over 10,000 pre-orders within 27 minutes of its launch, indicating strong market interest [3] Group 3: New Energy Vehicle Performance - In September, SAIC's new energy vehicle sales reached 189,000 units, a historical high with a year-on-year growth of 46.5% and a penetration rate of 43.2% [6] - The cumulative sales of SAIC's new energy vehicles in the first nine months reached 1.083 million units, reflecting a year-on-year increase of 44.8% [6] Group 4: International Expansion - SAIC's overseas sales in September reached 101,000 units, a year-on-year increase of 12.2%, with cumulative sales of 765,000 units in the first nine months, up 3.5% [7] - The MG brand has shown strong performance in Europe and Southeast Asia, with the MG4 EV frequently ranking in the top 10 in sales [7][8] Group 5: Joint Venture Developments - SAIC's joint ventures, including SAIC Volkswagen and SAIC General Motors, are adapting to industry changes with distinct yet complementary strategies [10] - SAIC Volkswagen's sales in September reached 91,300 units, supported by the launch of six new models, while SAIC General Motors saw a doubling of sales to 47,700 units [11] Group 6: Future Outlook - The recent surge in new vehicle orders, including models like MG4 and Zhiji LS6, suggests sustainable growth for SAIC [13] - The company aims to solidify its leading position by balancing innovation, cost control, and brand enhancement amid increasing market competition [13]

国庆中秋假期（下文简称"双节"），车市热度延续。10月8日晚间，鸿蒙智行公布假期大定数据，9月30 日至10月7日累计大定突破4.85万辆。 这一销售高峰与9月以来的"新车潮"密切相关。据21世纪经济报道记者不完全统计，仅9月22日至28日， 国内车市就有18款新车上市或亮相，包括理想i6、问界M7、尚界H5等多款车型。多款新车的集中发布 直接带动了门店客流与订单量的攀升。一位鸿蒙智行销售人员透露，以新款智界R7为例，假期期间订 车仍需等待4至6周才能交付。 具体来看，理想汽车推出智能焕新版L系列限时置换补贴1.5万元，并提供1.99%的低息金融方案；小鹏 汽车则在假期推出"5年0利息0首付"限时福利，最高贴息55700元，老车主还可享受充电免服务费权益。 广汽丰田部分车型在"双节"限时促销中最高优惠可达5.1万元，但扣除日常已有的3万元左右优惠后，实 际额外优惠空间有限。若不涉及置换等额外补贴，消费者实际能享受到的额外优惠可能在3000元左右。 部分品牌车型则在线上电商平台推出"双节"限时优惠，以期吸引更多客户。 行业层面，"金九"成色初步显现。乘联会数据显示，9月1日至27日，乘用车市场零售销量达177. ...

Core Insights - The automotive market in China experienced a surge in sales during the "Double Festival" period, with a total of over 48,500 vehicles sold from September 30 to October 7, driven by a wave of new car launches and promotional activities [1][3]. Industry Overview - The retail sales of passenger vehicles reached 1.776 million units from September 1 to 27, marking a 12% month-on-month increase, indicating a strong performance in the "Golden September" period [2][8]. - The introduction of new vehicles and various local promotional policies contributed to the increased consumer demand, with discounts ranging from thousands to tens of thousands of yuan [2][3]. Policy Impact - Two significant national policy adjustments are influencing consumer behavior: the reduction of the new energy vehicle purchase tax starting January 1, 2026, and the early termination of the "old-for-new" subsidy policy in some provinces [3][4]. - Local governments and car manufacturers are offering layered subsidies, with some regions providing up to 24,000 yuan in combined incentives for vehicle purchases [4][5]. Brand Promotions - Major brands are leading the promotional efforts, with companies like Li Auto and XPeng offering substantial trade-in subsidies and financing options during the holiday period [5][7]. - The sales of new energy vehicles are particularly strong, with some dealerships reporting sales figures comparable to monthly averages during the "Double Festival" [7]. Market Dynamics - The competition among leading brands remains intense, with BYD and SAIC leading in sales, while traditional fuel vehicles are also showing resilience through transparent pricing strategies [8][9]. - Despite the promotional activities, dealers are facing significant financial pressure, with over 52% reporting losses and a high inventory warning index [11][12]. Future Outlook - The automotive market is expected to maintain a "high open and flat" trend in October, supported by seasonal demand and ongoing local subsidies, with a cautious optimism for a 5% to 10% year-on-year sales growth in the fourth quarter [12].

Group 1: Company Performance - BYD leads the market with a total sales volume of 396,300 units in September, including 188,000 plug-in hybrid vehicles and 205,100 pure electric vehicles, representing a year-on-year increase of 24.31% [1] - Geely's sales reached approximately 273,000 units in September, a year-on-year growth of 35%, with new energy vehicle sales of about 165,000 units, up 81% [2] - Chery's sales in September were around 280,000 units, a year-on-year increase of 14.7%, with new energy vehicle sales of approximately 92,000 units, up 55.4% [2] Group 2: Industry Trends - The automotive market in September experienced a surge in sales, attributed to the traditional peak season and the implementation of national and local subsidies, which boosted consumer purchasing enthusiasm [5] - The release of numerous new models following the Chengdu Auto Show has intensified competition in the market, with a focus on high-end models, although there is a noted lack of entry-level popular models [6] - The fourth quarter is expected to see intensified competition among manufacturers as they aim to meet year-end sales targets [7] Group 3: Future Outlook - BYD is expected to see a surge in sales due to the launch of new models and a strong market position, with a projected cumulative sales volume of 3.26 million units for the first nine months of the year, reflecting an 18.64% year-on-year growth [1] - Chery plans to use 35% of the funds raised from its IPO for multi-model development and 25% for next-generation vehicle and advanced technology research, aiming to launch over 60 new models by 2025 [3] - Geely's new energy vehicle penetration rate reached 60.49% in September, indicating a significant shift towards electric vehicles [2]

21世纪经济报道记者 郑植文 上海报道 9月28日，上汽通用别克旗下高端新能源品牌至境的首款新车L7正式上市，官方零售价为17.39万元至 21.99万元。上汽通用副总经理薛海涛表示，这一价格讨论至发布会前4个小时，外方非常不同意，但上 汽通用总经理卢晓拍板决定，希望用更诚意的价格打动消费者。 （原标题：21现场｜至境L7价格外方不同意，上汽通用总经理拍板决定） ...

9月28日，上汽通用旗下高端新能源品牌至境首款产品L7正式上市。上汽通用副总经理薛海涛表示，这 款新车首搭Momenta R6飞轮大模型，智驾水平在行业第一梯队，不怕跟华为、特斯拉对比。 21世纪经济报道记者 郑植文 上海报道 （原标题：上汽通用薛海涛：至境L7智驾在第一梯队，不怕跟华为特斯拉PK） ...

(作者：郑植文编辑：张明艳,视频编辑陈泽锴) 9月28日，上汽通用别克旗下高端新能源品牌至境的首款新车L7正式上市，官方零售价为17.39万元至 21.99万元。上汽通用副总经理薛海涛表示，这一价格讨论至发布会前4个小时，外方非常不同意，但上 汽通用总经理卢晓拍板决定，希望用更诚意的价格打动消费者。 ...

Group 1 - The Buick Zhijing L7 was officially launched on September 28, with five models priced between 173,900 to 219,900 yuan, and a limited-time price of 169,900 to 215,900 yuan until October 31 [2] - The Zhijing L7 features dimensions of 5032mm in length, 1952mm in width, and 1500mm in height, with a wheelbase of 3000mm, surpassing the current Buick Regal [3] - The vehicle is equipped with the SA8775P chip, offering an NPU computing power of 72 TOPS, and introduces the Buick "Xiaoyao Zhixing" assisted driving system, utilizing the Momenta R6 flywheel model [3] Group 2 - The Zhijing L7 is powered by the "Zhenlong" range extension system, which includes a dedicated 1.5T hybrid engine, a rear-mounted permanent magnet synchronous motor, and a high-performance battery [3] - The 1.5T hybrid engine has a maximum output of 115kW and a maximum torque of 230Nm, achieving a fuel consumption of 0.5L per 100km, while the rear motor delivers a maximum power of 252kW [3] - The Zhijing L7 offers a pure electric range of 302km and a comprehensive range exceeding 1400km, with a 0-100 km/h acceleration time of 5.9 seconds and a top speed of 200 km/h [3] Group 3 - Buick is currently facing challenges in the new energy era, with sales figures showing a decline in the GL8 model from 126,800 units in 2022 to 64,700 units in 2024 [4] - In August 2025, Buick's sales reached 35,500 units, with the GL8 family contributing 10,500 units, accounting for nearly 30% of total sales [4] - The company aims to accelerate its transformation in response to the rising demand for new energy vehicles, as evidenced by the 52.2% market share of new energy vehicles in China as of August 2025 [4]

Group 1 - The Buick Zhijing L7 was officially launched on September 28, with five models priced between 173,900 to 219,900 yuan, and a limited-time price of 169,900 to 215,900 yuan until October 31 [1] - The Zhijing L7 features dimensions of 5032mm in length, 1952mm in width, and 1500mm in height, with a wheelbase of 3000mm, surpassing the current Buick Regal [2] - The vehicle is equipped with the "True Dragon" range extension system, which includes a 1.5T hybrid engine, a rear-mounted permanent magnet synchronous motor, and a high-performance battery, achieving a pure electric range of 302km and a comprehensive range exceeding 1400km [2] Group 2 - Buick is facing challenges in the new energy era, with sales figures showing a decline in the GL8 model, which dropped from 126,800 units in 2022 to 64,700 units in 2024 [3] - The market for new energy vehicles in China has seen a significant shift, with sales accounting for 52.2% in August 2025, indicating a need for Buick to strengthen its presence in the new energy segment [4] - The launch of the Zhijing L7 represents Buick's ambition to re-establish itself in the market through technological integration [5]

Core Viewpoint - SAIC-GM Buick's new high-end electric vehicle sub-brand "Zhijing" has launched its flagship sedan, Zhijing L7, marking its entry into the competitive electric sedan market against new energy vehicle startups [2][3]. Group 1: Product Launch and Market Positioning - The Zhijing L7 was officially launched on September 28, with five models priced between 169,900 and 215,900 yuan [2]. - The Zhijing brand was introduced in April, with its first model, the "Shijia," positioned as a luxury MPV targeting the million-yuan segment [2]. - The entry of Zhijing L7 into the sedan market is seen as a strategic move to compete with established players and new entrants in the electric vehicle sector [2][3]. Group 2: Technical Specifications and Features - Zhijing L7 is classified as a C-class mid-large sedan, with dimensions of 5032mm in length, 1952mm in width, and 1500mm in height, while its pricing places it in the B-class segment [3]. - The vehicle features the "Zhenlong" range extender system, which includes a 252kW electric drive and a 1.5T hybrid engine, achieving a combined fuel consumption of just 0.5 liters per 100 kilometers [3]. - The pure electric range of Zhijing L7 is 302 kilometers, with a total range of 1420 kilometers, and it supports fast charging from 30% to 80% in just 18 minutes [3]. Group 3: Competitive Landscape and Market Trends - The hybrid vehicle market has seen significant growth, with sales reaching 3.46 million units in the first eight months of the year, a year-on-year increase of 22.8% [3]. - Companies like Li Auto, which have successfully entered the hybrid market, have reported improved sales and profitability, indicating a trend that attracts more manufacturers to this segment [3]. Group 4: Technological Advancements - Zhijing L7 incorporates Buick's "Xiaoyao Zhixing" driver assistance system and is the first to feature the Momenta R6 flywheel model based on end-to-end reinforcement learning [4]. - The vehicle is equipped with Qualcomm's latest SA8775P chip, providing 72 TOPS of AI computing power for an enhanced user experience [4]. - The development of Zhijing L7 reflects a shift in SAIC-GM's strategy, with increased autonomy and efficiency in product development, as well as more frequent communication with General Motors headquarters [4].