摩托车行业系列点评二十三 邮箱：cuiyan@glms.com.cn 邮箱：jiangxuzhou@glms.com.cn 事件概述：据中国摩托车商会数据，2025 年 11 月 250cc（不含）以上摩 托车销量 6.1 万辆，同比+11.3%，环比+0.2%。1-11 月累计销量 88.3 万辆， 同比+28.3%。 行业：中大排月度销量稳健增长 出海持续提速 1）125cc（不含）以上：11 月销量 63.3 万辆，同比+5.2%，环比+5.0%，主 要增量来自于 125-150cc 及 500-800cc，春风动力、隆鑫通用等头部企业均贡 献明显增量； 2）250cc（不含）以上：11 月销量 6.1 万辆，同比+11.3%，环比+0.2%。1-11 月累计销量 88.3 万辆，同比+28.3%。其中： 出口：250cc+摩托车 11 月出口 4.3 万辆，同比+43.2%，环比+17.4%，1-11 月累计出口 49.2 万辆，同比+57.6%。 中大排销量稳健 出海与高端化齐驱 glmszqdatemark [Table_Author] 分析师：崔琰 分析师：姜煦洲 执业证书：S059052511 ...

Industry Overview - In August, the total sales of two-wheeled fuel motorcycles reached 1.441 million units, a year-on-year increase of 11.6% [1] - Exports accounted for 1.073 million units, up 20.8% year-on-year, while domestic sales were 368,000 units, down 8.7% [1] - For motorcycles above 250cc, sales were 84,000 units, reflecting a year-on-year increase of 23.6% [1] Company Insights Chunfeng Power - In August, Chunfeng Power sold 18,000 two-wheeled fuel motorcycles, a decrease of 18.7% year-on-year [2] - Exports were 11,000 units, up 51.6%, while domestic sales dropped to 7,000 units, down 52.7% [2] - Electric motorcycle sales surged to 33,000 units, a remarkable increase of 348.6% [2] Longxin General - Longxin General reported total sales of 93,000 two-wheeled motorcycles in August, down 34.0% year-on-year [3] - Exports were 82,000 units, a decline of 36.8%, while domestic sales were 11,000 units, down 1.3% [3] - Sales of motorcycles above 250cc reached 14,000 units, up 29.0% year-on-year [3] Qianjiang Motorcycle - Qianjiang Motorcycle's total sales of two-wheeled motorcycles in August were 34,000 units, remaining stable year-on-year [4] - Exports increased significantly to 23,000 units, up 84.9%, while domestic sales fell to 11,000 units, down 48.8% [4] - For motorcycles above 250cc, sales were 9,000 units, a decrease of 18.5% year-on-year [4]