Investment Rating - The report maintains a positive outlook on the Southeast Asian electric vehicle market, particularly for Chinese brands, suggesting a "Buy" rating for companies like BYD, Geely, XPeng, and Leapmotor [4][5]. Core Insights - The Southeast Asian electric vehicle market is expected to see steady growth, with monthly total sales increasing from 14,900 units to 23,400 units in 2025, and Chinese brands maintaining a market share of 72%-78% [4][14]. - The competitive landscape is shifting from price wars to value competition, with brands focusing on technology, brand strength, and ecosystem development [4][5][33]. - Consumer demand is evolving from a focus on technology to lifestyle needs, with a clear segmentation among brands targeting different consumer demographics [5][6]. Market Overview - In 2025, the total sales of electric vehicles in Southeast Asia showed a steady increase, with Chinese brands leading the market. Monthly sales rose from 14,900 units in January to 23,400 units in December, with Chinese brands' sales increasing from 12,800 units to 19,000 units [14][15]. - BYD's market share decreased from 41.8% to 28.7% due to increased competition, but it still led in total sales with 41,480 units sold in Thailand [15][20]. Price War Analysis - The price war in Thailand was characterized by significant discounts, with major brands like BYD and Chery engaging in aggressive pricing strategies to clear inventory as government subsidies were set to expire [27][28]. - The average price reduction for mainstream models ranged from 15% to 25%, with some models experiencing discounts as high as 36.43% [28][29]. Brand Competitiveness - The report highlights the importance of distribution channels, with local partners showing increased confidence in Chinese brands. The number of dealerships is expected to grow by 20%-50% in 2026 [6][42]. - Different Chinese brands are adopting varied strategies: BYD is focusing on mass-market appeal, while XPeng and Zeekr are targeting high-end consumers [5][6]. Consumer Insights - The consumer profile in Southeast Asia is diversifying, with brands like BYD appealing to working families and ride-hailing drivers, while XPeng and Zeekr attract business professionals and high-net-worth individuals [5][6]. - MG has successfully transitioned from a value proposition to brand recognition among middle-class consumers and corporate executives [5]. New Vehicle Plans - In 2026, brands are expected to increase their new vehicle launches in Southeast Asia, with predictions of significant sales growth for Chery (182% increase), Zeekr (76% increase), and BYD (35% increase) [5][6].

奇瑞旗下JAECOO品牌及其车型JAECOO 5在全球市场捷报频传，接连在欧洲、中南美地区和亚洲斩获 多项权威大奖，实力印证其火爆海外的市场热度与卓越口碑。尤为瞩目的是，JAECOO被英国知名汽车 媒体CARWOW授予"年度品牌"（Brand of the Year）称号，标志着这一中国品牌已赢得成熟汽车市场 的高度认可。 在欧洲，CARWOW"年度品牌"奖项以其严苛的评估体系著称，覆盖品牌综合实力、产品创新与用户口 碑等多重维度。此次获奖，不仅是对JAECOO产品力的肯定，更是对其品牌体系与全球化运营能力的一 次权威背书。 JAECOO被英国 CARWOW评为"年度品牌" 在中南美地区，JAECOO 5荣获智利专业汽车媒体Ruta Motor评选的"Best SUV"（最佳 SUV）奖项。评 审基于设计、安全、空间、用户体验及性能等多方面表现，一致认为该车型精准契合南美地区的驾驶需 求与生活方式。此外，JAECOO 5还被当地主流汽车平台Autocosmos评为"Most Recommended Vehicle of 2026"（年度最推荐车辆），突出其在日常实用性、全路况适应性与综合性价比方面的卓越表现。 ...