2026.01. 12 本文字数：2349，阅读时长大约4分钟 作者 | 第一财经 武子晔 2026年初，宝马中国官网对旗下31款车型的指导价进行下调，幅度最高达30.1万元。 这场看似力度空前的官方降价消息，在终端市场吸引了不少客流。第一财经记者近期走访市场发现， 不少消费者关注到了降价消息，周末前往宝马4S店的客流较大。不过，宝马此次"官降"并未带来终 端实际成交价的大幅下调。 "官方调价对终端价格的影响不是很大，尤其是热销车型。就像是以前100元的车打6折卖60元，现 在官方标价70元，我们打八五折还是卖60元。"一名宝马4S店销售经理张宇表示，官方降价的本质 是吸引客流，很多车型的最终落地价与去年年底基本持平。 终端市场博弈 值得注意的是，宝马官方虽然针对旗下多款车型调价，但并未涉及宝马3系、X3和5系等主流走量车 型。这类车型的优惠力度仍较大，比如宝马X3中配车型落地价格在35万元左右，是品牌冲量的主 力；宝马3系终端优惠10万元左右，5系落地价不到40万元。 张宇告诉记者，5系、X5因近期销量好、现车紧张，终端价格反而较2025年12月上涨了两三千元。 不过，高性能M系列在官方调价后成为优惠力度较 ...

轰轰烈烈的降价潮下，警惕部分品牌"明降暗升""捆绑销售"等陷阱。 2026年初，宝马中国官网对旗下31款车型的指导价进行下调，幅度最高达30.1万元。 这场看似力度空前的官方降价消息，在终端市场吸引了不少客流。第一财经记者近期走访市场发现，不 少消费者关注到了降价消息，周末前往宝马4S店的客流较大。不过，宝马此次"官降"并未带来终端实际 成交价的大幅下调。 "官方调价对终端价格的影响不是很大，尤其是热销车型。就像是以前100元的车打6折卖60元，现在官 方标价70元，我们打八五折还是卖60元。"一名宝马4S店销售经理张宇表示，官方降价的本质是吸引客 流，很多车型的最终落地价与去年年底基本持平。 终端市场博弈 业内认为，豪华品牌调整价格策略，一方面是通过"油电双降"清理老平台库存，为今年即将登场的新车 型铺路；另一方面，是通过调整价格吸引在"国产顶配"与"豪华入门"之间纠结的年轻消费者。值得注意 的是，当前多数汽车品牌在推出新产品时，不仅售价下调，还同时采取增配的方式抢夺客流。 促销连锁反应 "推出的新一代车型风格趋向年轻化，但还是难抵价格压力，客户现在可选的品牌数量太多了。"雷克萨 斯销售李哲对记者表示，虽然 ...

Core Viewpoint - Toyota showcased its latest developments and localized product technologies at the China International Import Expo, emphasizing its commitment to the Chinese market and diverse mobility solutions [1] Group 1: Product Innovations - Toyota introduced three new products under the ONE R&D and Chief Engineer system during the expo, including the bZ5, a smart electric SUV named Platinum 3X, and the D-class sedan Platinum 7 featuring HarmonyOS [3] - Lexus displayed the current ES model and the new GX OVERTRAIL version, with the ES achieving cumulative sales of over 1 million units in China [5] Group 2: Hydrogen Fuel Technology - Toyota presented its hydrogen fuel cell technology, including a 49-ton hydrogen fuel cell tractor developed with China National Heavy Duty Truck Group, which has been deployed in regions like Shandong and Hubei [8] - The company plans to conduct trials for a "hydrogen exchange model" in Shandong by early 2026, aimed at reducing hydrogen costs and logistics operational expenses [10] Group 3: Energy Solutions - Toyota introduced the Sweep energy storage system to address the challenges of recycling retired batteries, which can stabilize renewable energy generation [10] - The Sweep energy cabinet, developed in collaboration with China Minmetals, was unveiled and is expected to launch in the second half of 2026 [10] Group 4: Autonomous Driving - The L4-level autonomous driving model, Platinum 4X Robotaxi, was showcased and is set to begin road testing, with plans for 1,000 units to be deployed in major Chinese cities by 2026 [11] Group 5: Accessibility Innovations - Toyota's welfare vehicles, including the luxury welfare version of the Alphard and the RAV4 welfare prototype, are designed to provide accessible transportation for individuals with mobility challenges [13] - The Welwalk rehabilitation support robot, aimed at assisting stroke patients, is expected to be available after 2026 [13]

Core Insights - The 8th China International Import Expo (CIIE) highlights China's commitment to high-level openness and the collaborative opportunities for multinational companies in the Chinese market [1] - Toyota's participation in the expo reflects its strategic shift from "Future Mobility Society" to "Global Presence, Greater China," emphasizing its deep commitment to the Chinese market [1][2] - The establishment of the RCE (Regional Chief Engineer) system in China allows local engineers to lead product development, enhancing Toyota's responsiveness to market demands [2][3] Group 1: Toyota's Strategic Initiatives - Toyota's local management changes have empowered Chinese executives, marking a significant step in its localization strategy [2] - The launch of the Lexus (Shanghai) New Energy Co., Ltd. aims to produce electric vehicles, showcasing Toyota's commitment to high-end manufacturing in China [4][5] - The bZ family of vehicles, particularly the bZ3X and bZ5, have achieved significant sales milestones, demonstrating the effectiveness of Toyota's localized approach [3][5] Group 2: Collaboration and Ecosystem Development - Toyota is building a collaborative ecosystem by partnering with local companies like BYD and GAC to enhance its capabilities in electric and fuel cell technologies [6] - The collaboration with local firms is not merely resource-sharing but aligns with China's industrial policies and market needs, exemplified by the L4 autonomous vehicle project [6] - The upcoming launch of the L4-level autonomous Robotaxi in major Chinese cities by 2026 illustrates Toyota's commitment to integrating local market demands into its innovation strategy [6] Group 3: Market Impact and Future Outlook - Toyota's transformation in China serves as a testament to the success of high-level openness and localization strategies, contributing to its sustainable growth [7] - The company's long-standing presence in China, with over 60 years of operations and 2.1 million Lexus vehicles sold, underscores its market acceptance and brand strength [7] - Toyota's ongoing efforts in R&D, local partnerships, and market adaptation position it well for future growth in the rapidly evolving automotive landscape [7]

Core Insights - The global trend towards green mobility has led to a rapid rise in the electric vehicle (EV) market, achieving record sales and penetration rates, becoming a crucial pillar for industrial transformation [1] - A consensus is emerging among automakers to adopt diversified technology routes rather than relying solely on a single pathway, as highlighted by industry leaders during major automotive conferences [1][3] Group 1: Multi-Pathway Strategy - Toyota has chosen a complex yet market-aligned diversified approach, contrasting with many automakers that focus on a single technology route, validating the sustainability of its transformation strategy [3] - At the 8th China International Import Expo, Toyota showcased its commitment to localization and transformation, with all exhibited products being either launched or soon to be launched in China [3][4] - The "Multi-Pathway" strategy emphasizes Toyota's deep consideration of the Chinese EV market, showcasing a technology matrix that spans pure electric, hydrogen, and hybrid technologies [4][6] Group 2: Hydrogen and Energy Solutions - Toyota's collaboration with China National Heavy Duty Truck Group to develop a 49-ton hydrogen fuel cell tractor truck demonstrates its commitment to localized partnerships and innovation in the hydrogen sector [5] - The hydrogen fuel cell truck has a hydrogen consumption of less than 10 kg for full-load highway transport and a range exceeding 500 km, indicating its commercial viability [5] - Toyota's Sweep energy storage system addresses the challenges of retired battery recycling and stabilizes renewable energy generation, showcasing its forward-looking approach to energy management [7] Group 3: Intelligent Mobility and Local Partnerships - Toyota is accelerating its transition to intelligent mobility by deepening strategic collaborations with local tech companies, focusing on high-level autonomous driving technologies to meet the demands of the Chinese market [8] - The debut of the L4-level autonomous driving Robotaxi at the expo, developed in partnership with Pony.ai, highlights Toyota's commitment to bringing cutting-edge technology to China [8] - The planned deployment of 1,000 units of the Robotaxi in major Chinese cities by 2026 reflects Toyota's determination to integrate advanced technologies into the local market [8] Group 4: Long-term Strategy and Market Position - Toyota's evolution from "Future Mobility Society" to "Global Better China" signifies a new phase of deep localization in its strategy, further solidified by the establishment of Lexus (Shanghai) New Energy Co., Ltd. [9] - The multi-pathway technology route is a strategic choice based on deep insights into the Chinese market, recognizing the diverse energy structures and infrastructure across different regions [9] - As the EV sector enters a new phase, Toyota's diversified solutions and comprehensive industry chain layout position it uniquely in the competitive landscape, influencing its market standing in China [9]

Core Viewpoint - The article emphasizes the importance of human involvement in the automotive manufacturing process, particularly in the context of Japanese automotive practices, which can provide valuable lessons for the Chinese automotive industry as it transitions towards electrification and automation [3][5][11]. Group 1: Human-Centric Manufacturing - Japanese automotive manufacturing, exemplified by Lexus, prioritizes human involvement alongside automation, showcasing a balance that enhances quality and efficiency [5][11]. - The Lexus Miyata factory, known for its high production capacity, integrates human skills with advanced machinery, demonstrating that certain tasks still require human touch for optimal results [6][9]. - The concept of "craftsmanship" is highlighted, where skilled workers perform tasks that require sensitivity and dexterity, which machines cannot replicate [10][14]. Group 2: Lessons for Chinese Automotive Industry - The Chinese automotive sector, while advanced in electrification and automation, faces challenges in battery safety and driving efficiency, areas where Japanese practices could offer solutions [5][11]. - Japanese manufacturers have historically maintained a lower level of automation compared to China, focusing instead on lean production and skilled labor, which can serve as a model for improving quality in Chinese manufacturing [11][12]. - The article suggests that the human element in manufacturing can lead to better outcomes, particularly in quality control and intricate tasks that require nuanced judgment [14][15]. Group 3: Employee Welfare and Innovation - Lexus factories emphasize employee welfare, encouraging workers to monitor their health and report issues without fear of punishment, fostering a culture of safety and quality [16][18]. - The encouragement of employee innovation is evident, with workers empowered to propose improvements that enhance production efficiency, reflecting a commitment to continuous improvement [19][21]. - The factory's operational philosophy includes three key principles: safety first, thoroughness in all tasks, and a commitment to quality, which collectively contribute to high manufacturing standards [23].

Group 1 - The core viewpoint is that the import car market in China continues to shrink, with a significant decline in both import volume and sales of passenger vehicles in the first half of the year [1][2] - In the first half of the year, cumulative imports of passenger cars reached 221,000 units, a year-on-year decrease of 32.1%, while cumulative sales were 277,000 units, down 14.5% [1] - The decline is attributed to the rising competitiveness of domestic new energy vehicles and accelerated localization of imported cars, leading to weakened expectations among import car manufacturers [1] Group 2 - The sales structure shows that all three major vehicle categories—sedans, SUVs, and MPVs—experienced double-digit declines, with MPVs facing the largest drop [1] - In terms of vehicle classification, mid-to-large cars continue to dominate the import car market, maintaining a share of over 60%, with a 3.3 percentage point increase in share for mid-to-large cars in the first half of 2024 [1] - Luxury brands remain the absolute sales leaders, accounting for 91% of total sales, despite a year-on-year decline across non-luxury, luxury, and ultra-luxury segments [2] Group 3 - The top three sales regions are Guangdong, Jiangsu, and Zhejiang, all showing year-on-year declines in sales, with Zhejiang experiencing the largest drop of 19.2% [2] - Guangdong's sales decline was the smallest at 3.1%, supported by growth in models like Lexus RX and ES, while sales of models such as Audi A5 and BMW 6 Series contributed to the decline in Zhejiang [2]

Core Insights - The sales rankings of popular car models across various regions in China for the first half of 2025 have been released, highlighting regional preferences and trends in consumer behavior [1] Group 1: Regional Sales Trends - In the Yangtze River Delta region, Tesla's Model Y leads the sales chart, followed by Xiaomi's SU7 and XPeng's MONA M03, indicating a strong preference for new energy vehicles in this area [3][4] - In Beijing, Tesla's Model Y also tops the sales with 10,649 units sold, while BYD's Qin PLUS and other models dominate the top six positions [6] - The Shandong province shows a strong demand for economical electric vehicles, with models like Wuling Hongguang MINIEV and Changan Lumin frequently appearing in the top five [8] Group 2: Model Performance - The top-selling models in the Yangtze River Delta include Tesla Model Y (10,649 units), BYD Qin PLUS (6,265 units), and Volkswagen Passat (4,955 units), showcasing a mix of new energy and traditional vehicles [4] - In Guangdong province, 11 out of the top 20 models are new energy vehicles, with GAC AION S leading the sales [10] - In the Northeast region, BYD's new energy models are prominent, with the Qin PLUS being the best-seller in Heilongjiang province [11] Group 3: Market Dynamics - The luxury segment remains strong in the Yangtze River Delta, with models like BMW 3 Series and Mercedes-Benz GLC maintaining their market presence [3] - In regions with less developed charging infrastructure, such as Tibet, traditional fuel SUVs dominate the market, indicating a challenge for new energy vehicle penetration [13] - The overall trend shows a growing acceptance of new energy vehicles across various provinces, with BYD's models frequently appearing in the top sales lists [8][12]

Core Insights - The 2025 Shanghai International Automobile Industry Exhibition showcases over a hundred new models and highlights advancements in intelligent technology, marking a significant event for both automotive enthusiasts and industry professionals [2][3] - The exhibition serves as a beacon for the future direction of automotive products and injects strong momentum and confidence into the industry's transformation and upgrade [2][6] Industry Trends - The exhibition features a diverse array of global automotive brands, including major players like Volkswagen, Mercedes-Benz, and Tesla, alongside high-end and modified car brands [3][4] - The focus on intelligent technology and electric vehicle development is evident, with new models like the Changan Q07 and the Zeekr 9X showcasing advanced autonomous driving capabilities and high computing power [4][5] - The proportion of new energy vehicles at the exhibition has increased significantly, with over 60 new energy models presented, representing 69.1% of the total new cars, up from 38.4% at the 2020 Beijing Auto Show [8] Technological Innovations - The exhibition highlights a shift towards original core technologies in automotive innovation, moving away from mere improvements to groundbreaking advancements [6][14] - Companies are increasingly emphasizing practical features and responsible marketing, moving away from exaggerated claims about autonomous driving capabilities [9][10] Market Dynamics - The competitive landscape is evolving from price wars to a more diversified competition strategy, with companies focusing on unique features and technological advancements rather than solely on pricing [15][16] - The introduction of Level 3 autonomous driving capabilities is a focal point, with several companies planning to launch models equipped with this technology within the year [16][17] Consumer Insights - Consumer interest in intelligent driving features is growing, with 90% of consumers willing to pay extra for advanced intelligent driving services [13] - The industry is witnessing a shift towards rational consumer behavior, with a greater emphasis on understanding the actual capabilities of autonomous driving systems [12][14]

Group 1 - The core viewpoint of the articles highlights the significant developments in the automotive industry during the 2025 Shanghai Auto Show, particularly focusing on Lexus's growth and new investments in electric vehicle production [1][5][10] - Lexus achieved an annual sales volume of 180,000 units, marking it as one of the few imported luxury car brands in China to experience positive growth last year [1] - A new "super factory" for Lexus's electric vehicles and battery production is set to commence in Jinshan District, Shanghai, following a cooperation agreement signed between the Shanghai government and Toyota [1][5] Group 2 - The Shanghai Auto Show served as a platform for multiple strategic partnerships, including the announcement of a collaboration between Shanghai and Chery Automobile, as well as Porsche's establishment of a research center in Shanghai [2][3] - Various districts in Shanghai actively engaged in investment attraction, with representatives conducting targeted outreach to automotive companies at the exhibition [3][6] - The establishment of the Lexus project has made the Shanghai Bay Area High-tech Industrial Development Zone a hot spot for automotive investments, with many companies expressing interest in joining the Toyota supply chain [5][10] Group 3 - The automotive industry in the Yangtze River Delta region is characterized by a robust ecosystem, with Shanghai leading the way in electric vehicle projects alongside Tesla and Lexus [6][10] - The region has seen a significant increase in automotive production, with a reported 2.04 million vehicles produced in the first quarter of this year, accounting for one-quarter of the national total [10][11] - The collaboration among cities in the Yangtze River Delta, including Shanghai, Jiangsu, Zhejiang, and Anhui, has resulted in a comprehensive supply chain for the new energy vehicle industry, with over 1,800 companies involved [10][11]