2025年7月份，我国客车市场同比增长16%，整体销量达到4.16万辆。作为客车市场中占比 最大的细分市场，轻客市场7月份的命运如何？7月过后，2025年轻客行业格局有何变化？ 请看第一商用车网的分析报道。 7月销售3.3万辆，同比增长16%，收获"4连增" 第一商用车网最新获悉，根据中汽协数据（企业开票数口径，非终端实销口径，下同）， 2025年7月份，我国客车市场（含底盘）销售4.16万辆，环比下降21%，同比增长16%。其 中，轻型客车市场销售3.30万辆，环比下降19%，同比增长16%，同比增幅较上月（6月份 轻客市场同比增长24%）有所缩窄，收获"4连增"。 7月份，轻型客车3.30万辆的销量在整个客车市场的份额为79.23%，较上月（77.36%）小 幅提升。今年1-7月，轻客在客车市场的占比达到80.24%，较去年全年占比有所提升（2024 年全年，轻客在客车市场的占比为77.18%）。 纵观近五年7月份轻型客车销量及增幅走势图可见，近五年7月份的轻客市场走出一个增-降- 增-降-增的趋势，2025年7月份轻客市场3.30万辆的销量在近五年里排第一高，但这个"五年 第一"比前几年并没有高出多少， ...

Core Viewpoint - The automotive market in July experienced a seasonal decline due to traditional off-peak periods, but the overall industry showed growth driven by policies like trade-in incentives and new model launches, particularly in the electric vehicle sector [1]. Group 1: Overall Market Performance - In July 2025, China's automotive production and sales reached 2.591 million and 2.593 million units, respectively, with month-on-month declines of 7.3% and 10.7%, but year-on-year increases of 13.3% and 14.7% [1]. - From January to July 2025, cumulative automotive production and sales were 18.235 million and 18.269 million units, reflecting year-on-year growth of 12.7% and 12% [1]. Group 2: Commercial Vehicle Performance - In July, commercial vehicle sales reached 310,000 units, marking a year-on-year increase of 14% [2]. - Commercial vehicle production and sales in July were 298,000 and 306,000 units, with month-on-month declines of 15.8% and 17.1%, but year-on-year increases of 16.3% and 14.1% [3]. - From January to July 2025, commercial vehicle production and sales totaled 2.397 million and 2.428 million units, with year-on-year growth of 6% and 3.9% [5]. Group 3: Truck Performance - In July, truck production and sales were 254,000 and 264,000 units, with month-on-month declines of 16.3% and 16.4%, but year-on-year increases of 15.1% and 13.8% [7]. - Heavy truck sales reached 85,000 units in July, showing a year-on-year increase of 45.6% [6]. - From January to July 2025, truck production and sales were 2.092 million and 2.121 million units, with year-on-year growth of 5.4% and 3.1% [10]. Group 4: Passenger Vehicle Performance - In July, passenger vehicle production and sales exceeded 40,000 units, with light passenger vehicles growing by 16% [12]. - Passenger vehicle production and sales from January to July 2025 were 305,000 and 307,000 units, reflecting year-on-year growth of 10.3% and 9.7% [15]. Group 5: Export Performance - In July, commercial vehicle exports reached 76,000 units, with a month-on-month decline of 16% but a year-on-year increase of 8% [19]. - From January to July 2025, commercial vehicle exports totaled 577,000 units, marking a year-on-year increase of 10.2% [21]. - New energy commercial vehicle exports in July were 5,000 units, with a year-on-year increase of 76.5% [26]. Group 6: Policy Impact - The Central Political Bureau's meeting on July 30 outlined macroeconomic policies to stimulate domestic demand and optimize market competition, which is expected to boost consumer confidence and automotive consumption in the second half of the year [27].

证券代码：000868 证券简称：安凯客车 公告编号：2025-032 | 品 目 | 2025 | 年 | 7 月 | | 本年累计 | | 累计数量较去年同期 增减比率 | | --- | --- | --- | --- | --- | --- | --- | --- | | 产量 | | | | 524 | | 4613 | 50.07% | | 其中：大型客车 | | | | 355 | | 2438 | 166.74% | | 中型客车 | | | | 68 | | 1465 | 30.69% | | 轻型客车 | | | | 101 | | 710 | -31.67% | | 销量 | | | | 668 | | 4410 | 39.38% | | 其中：大型客车 | | | | 435 | | 2292 | 148.59% | | 中型客车 | | | | 169 | | 1430 | 14.22% | | 轻型客车 | | | | 64 | | 688 | -30.51% | 本表为销售快报数据，最终数据以公司定期报告数据为准。同时，提醒广 大投资者，不能以公司产销数据直接推算公司业绩情况。 ...

Company Overview - Jiangling Motors primarily engages in the research, production, and sales of commercial vehicles, SUVs, and pickups, covering various fields including light passenger vehicles and heavy trucks [1] - The company is headquartered in Nanchang, Jiangxi Province, and is a significant player in China's commercial vehicle industry [1] Stock Performance - As of August 6, 2025, Jiangling Motors' stock price is reported at 21.29 yuan, down 0.79% from the previous trading day [1] - The trading volume on the same day reached 39,140 hands, with a transaction amount of 0.83 billion yuan [1] - The stock hit a high of 21.49 yuan and a low of 21.21 yuan during the trading session, with a fluctuation of 1.30% [1] Production and Sales Data - In July 2025, the company's vehicle production was 25,707 units, reflecting a year-on-year increase of 1.46% [1] - However, the sales volume for the same month was 23,834 units, showing a year-on-year decline of 12.22% [1] - Cumulatively, from January to July, the total sales reached 196,500 units, which is a year-on-year growth of 5.19% [1] Capital Flow - On August 6, 2025, the net outflow of main funds was 4.27 million yuan, accounting for 0.04% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow reached 19.89 million yuan, representing 0.18% of the circulating market value [1]

Core Viewpoint - Yutong Bus Co., Ltd. reported a decline in overall sales for July 2025, with a notable increase in light bus sales, indicating a shift in market demand [1][2][4]. Sales Data Summary - In July 2025, Yutong sold a total of 3,219 vehicles, representing a year-on-year decrease of 4.05% compared to 3,355 vehicles sold in the same month last year [2]. - Breakdown of sales in July 2025: - Large buses: 1,570 units sold, down 21.22% from 1,993 units [2]. - Medium buses: 943 units sold, up 8.39% from 870 units [2]. - Light buses: 706 units sold, a significant increase of 43.50% from 492 units [2]. - Cumulative sales for the first seven months of 2025 reached 24,540 units, reflecting a year-on-year growth of 2.63% compared to 23,910 units [2]. - Cumulative sales breakdown for the first seven months: - Large buses: 12,708 units sold, down 9.35% from 14,018 units [2]. - Medium buses: 7,258 units sold, a slight increase of 1.09% from 7,180 units [2]. - Light buses: 4,574 units sold, a remarkable increase of 68.66% from 2,712 units [2][4]. Market Trends - The strong growth in the light bus segment is a significant driver of overall sales performance for Yutong, highlighting a shift in consumer preference towards lighter vehicles [4].

Summary of Key Points Core Viewpoint - Jiangling Motors reported mixed results for July 2025, with total vehicle production increasing slightly while total sales experienced a decline compared to the previous year [1][2]. Production and Sales Data - **Light Vehicles**: - July production reached 7,173 units, a year-on-year increase of 16.5% - Cumulative production from January to July was 53,783 units, up 20.53% - July sales were 6,655 units, down 5.72% - Cumulative sales for the same period were 53,766 units, an increase of 18.6% [1][2] - **Trucks**: - July production was 4,817 units, a 17% increase year-on-year - Cumulative production from January to July totaled 41,226 units, up 19.82% - July sales were 4,181 units, a decline of 13.17% - Cumulative sales for the same period were 39,514 units, an increase of 16.92% [1][2] - **Pickups**: - July production was 2,861 units, a significant decrease of 48.87% - Cumulative production from January to July was 36,037 units, down 13.40% - July sales were 2,717 units, a sharp decline of 55.54% - Cumulative sales for the same period were 35,911 units, down 15.88% [1][2] - **SUVs**: - July production reached 10,856 units, a year-on-year increase of 14.67% - Cumulative production from January to July was 66,837 units, up 2.67% - July sales were 10,281 units, an increase of 12.16% - Cumulative sales for the same period were 67,335 units, up 3.58% [1][2] - **Overall Performance**: - Total vehicle production in July was 25,707 units, a slight increase of 1.46% - Cumulative production from January to July was 197,883 units, up 6.54% - Total sales in July were 23,834 units, a decline of 12.22% - Cumulative sales for the same period were 196,526 units, an increase of 5.19% [1][2]

Core Insights - Jiangling Motors announced a total production of 25,707 vehicles in July 2025, representing a year-on-year increase of 1.46% [1] - Total sales reached 23,834 vehicles, showing a year-on-year decline of 12.22% [1] Production and Sales Breakdown - Light passenger vehicles produced amounted to 7,173 units, with a year-on-year increase of 16.50%, while sales were 6,655 units, down 5.72% year-on-year [1] - Truck production reached 4,817 units, up 17.00% year-on-year, but sales fell to 4,181 units, a decrease of 13.17% [1] - Pickup truck production saw a significant decline, with 2,861 units produced, down 48.87%, and sales at 2,717 units, down 55.54% year-on-year [1] - SUV production totaled 10,856 units, reflecting a year-on-year increase of 14.67%, with sales of 10,281 units, up 12.16% year-on-year [1]

证券代码： 000550 证券简称： 江铃汽车 公告编号： 2025-034 200550 江铃 B 江铃汽车股份有限公司 2025 年 7 月产、销情况的自愿性信息披露公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗漏。 | 产品 | | 去年 | 同比 | 产量（辆） | | 同比 | | | 同比 | 销量（辆） | | 同比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 本年 | 去年同期 | | | 去年 | | 本年 | 去年同期 | | | | 本月数 | 同月数 | 变化 | 累计数 | 累计数 | 变化 | 本月数 | 同月数 | 变化 | 累计数 | 累计数 | 变化 | | | | | （%） | | | （%） | | | （%） | | | （%） | | 轻型客车 | 7,173 | 6,157 | 16.50% | 53,783 | 44,623 | 20.53% | 6,655 | 7,059 ...

Group 1 - The stock price of Jiangling Motors as of August 4, 2025, is 21.18 yuan, down 0.07 yuan or 0.33% from the previous trading day [1] - Jiangling Motors primarily engages in the research, production, and sales of commercial vehicles, SUVs, and pickups, with all revenue in 2024 coming from automotive manufacturing [1] - As of July 31, 2025, Jiangling Motors has repurchased 8.5705 million shares, accounting for 0.9929% of total shares, with a total expenditure of 169 million yuan [1] Group 2 - On August 4, 2025, the net outflow of main funds for Jiangling Motors was 8.4472 million yuan, with a cumulative net outflow of 29.8581 million yuan over the past five trading days [2]

Group 1 - In July 2025, the production volume of Yutong Bus reached 3,849 units, a year-on-year increase of 48.04% [3] - The cumulative production volume for the year is 25,262 units, reflecting a growth of 5.88% compared to the previous year [3] - The production breakdown shows large buses at 2,263 units (up 71.18%), medium buses at 950 units (up 11.37%), and light buses at 636 units (up 49.65%) [3][4] Group 2 - In July 2025, Yutong Bus's sales volume was 3,219 units, a decrease of 4.05% year-on-year [2] - The cumulative sales volume for the year stands at 24,540 units, which is a 2.63% increase compared to the same period last year [2] - The sales breakdown indicates large buses at 1,570 units (down 21.22%), medium buses at 943 units (up 8.39%), and light buses at 706 units (up 43.50%) [4]