不久前，吉利汽车收购沈阳原上汽通用北盛工厂，该工厂经改造后将生产银河品牌车型。除此之 外，有行业报道称，储能企业楚能新能源即将接盘威马汽车黄冈工厂。楚能新能源方面向经济观察 报表示，"这目前属于没有官宣确认的事，但我们如果造车也不奇怪。" 随着汽车市场竞争格局变迁，汽车产能从合资车企转向自主车 企的大转手，已经上演。 作者：周信 封图：图虫创意 在汽车行业竞争中，一些急需新产能的汽车厂家，往往会通过托管、收购其他厂家的工厂，来补足 自身的生产能力。这一现象今年在汽车行业大面积上演。 近日，北京现代重庆工厂被长安汽车接手，现已改为深蓝汽车生产线。对此，深蓝汽车向经济观察 报表示："的确如此，10月下旬就正式换标了，但目前还未投入使用。" 这一轮产能"大挪移"的背后，反映的是汽车市场竞争格局的此消彼长，同时也是在汽车行业产能 结构性过剩的背景下，各地执行"存量优化"政策的写照。 500万辆目标的催动 吉利收购上汽通用北盛工厂及长安收购北京现代重庆工厂，背后直指这两家自主车企集团"500万 辆"的宏伟目标。 在四五年前，很多自主品牌车企由于竞争力不佳退出市场，留下了众多闲置产能，其中一些被头部 自主车企、造车新势力 ...

Core Insights - Geely Galaxy is experiencing significant sales growth, with nearly 1 million units expected to be sold this year, leading to an optimistic outlook for next year's sales [3][6][9]. Production Capacity and Strategy - The transformation of the former SAIC-GM Beisheng factory in Shenyang is underway to supplement Geely Galaxy's production capacity due to current constraints [4][10]. - Geely's production capacity in China exceeds 3 million units, with over 50% allocated to new energy vehicles [10]. - The company is focusing on internal upgrades and resource reallocation rather than building new factories, as stated by Geely's leadership [13][17]. Sales Performance - In October, Geely Galaxy sold 127,000 vehicles, marking a 101% year-on-year increase and achieving its annual sales target ahead of schedule [6][9]. - The Galaxy series, initially launched as a product line, has seen a resurgence in sales due to competitive pricing and product features, with a projected annual sales of 494,000 units in 2024, an increase of nearly 80% [6][8]. Competitive Positioning - Geely Galaxy's strategy involves competing with BYD's models by offering "affordable prices and superior configurations," exemplified by the Galaxy Star Wish, which has become a best-seller in its segment [8][9]. - The Galaxy series has expanded its product matrix with new models like the Galaxy A7 and M9, which have quickly gained traction in the market [9][12]. International Expansion - Geely's exports of new energy vehicles surged by 214% in the first nine months of the year, with significant growth in Europe and Latin America [15][16]. - The company is adopting a multi-brand strategy in international markets, with plans to establish around 50 stores in the UK by 2025 [16][17]. - Geely is exploring local production options in international markets, including a partnership with Renault in Brazil to utilize existing production capacity [17][18].

Core Viewpoint - The article discusses the sales performance and customer preferences for the BYD Song PLUS DMI, highlighting its competitive pricing and market challenges faced against other models like Song L and Galaxy Starship 7 [1][10]. Sales Performance - In a local three-tier city, the dealership sold approximately 130 vehicles last month, with 21 units of Song PLUS sold, indicating a significant interest in this model [2]. - The most popular configuration is the non-intelligent 112KM Honor version, primarily in gray, accounting for about 50% of the sales [2][11]. - Discounts for the non-intelligent version are around 25,000, while the intelligent version sees discounts of about 20,000, reflecting a trend of decreasing prices over the past two months [9]. Customer Demographics - Buyers of the Song PLUS are diverse, primarily using the vehicle for family purposes, with no distinct demographic trends observed [3][18]. - The article mentions a case where a customer initially interested in Song PLUS ended up purchasing from a competing dealership, indicating the competitive nature of the market [5]. Competitive Landscape - The Song PLUS faces stiff competition from models like Song L DMI and Galaxy Starship 7, with the latter gaining more traction among consumers [10]. - The dealership is experiencing intense competition, with sales teams under pressure to outperform each other, leading to a "cutthroat" environment [10]. Customer Preferences and Feedback - The most sought-after configurations are the 112 Honor type, with gray and white being the preferred colors [11]. - The least popular model is the 160KM flagship version, which struggles to sell even with significant discounts [12]. - Customers have expressed dissatisfaction regarding fuel efficiency and tire noise, indicating areas for improvement in the vehicle's performance [18]. Financial Aspects - Maintenance costs for the Song PLUS are estimated to be between 400-500, with the first service required at 5,000 hybrid kilometers or six months [19]. - The article notes that there are various financing options available, including high-interest bank loans with incentives [14]. Additional Considerations - The article mentions that trade-in subsidies are available, with 10,000 for the model and 8,000 for non-model vehicles, which can be combined with national and provincial subsidies [20].

Group 1 - The company reported a total wholesale sales volume of 205,000 units in February, representing a year-on-year increase of 83.9% and a month-on-month decrease of 23.2%. Cumulative sales for January-February reached 472,000 units, up 45.2% year-on-year. The new energy vehicle (NEV) sales in February were 98,433 units, a year-on-year increase of 193.8% and a month-on-month decrease of 18.7%, with a penetration rate of 48.0% [1][2] - The company plans to launch five new NEV models, including two SUVs and three sedans, to strengthen its position in the market segment priced below 200,000 yuan, aiming for a sales target of 1 million units by 2025 [1][2] - The establishment of Zeekr Technology Group, following the acquisition of a 51% stake in Lynk & Co, aims to enhance strategic focus and operational efficiency by integrating internal resources and reducing conflicts [2] Group 2 - The company announced a deep integration with DeepSeek's AI model to optimize its smart vehicle control and interaction systems, with plans to release a comprehensive AI strategy in early March [3] - Revenue projections for 2024-2026 are estimated at 224.78 billion, 289.69 billion, and 338.83 billion yuan, respectively, with net profits expected to be 16.42 billion, 14.10 billion, and 17.45 billion yuan [4] - The company maintains a "recommended" rating, with expected earnings per share (EPS) of 1.63, 1.40, and 1.73 yuan for the years 2024-2026, corresponding to price-to-earnings (P/E) ratios of 10, 12, and 9 times [4]