喺馬來西亞嘅 SUV 市場，好多買家喺揀車嘅時候都會拿 Perodua Aruz 同 豐田 Yaris Cross 嚟做比較。這兩款車喺價位同定位上都幾接近，今日我哋就從多個方面做一個詳細嘅比較，幫你慳返做功課嘅時間。

價錢同版本

Perodua Aruz 喺馬來西亞嘅 OTR 售價係 RM 72,900 - 77,900，一共有 2 個版本，包括 1.5L X（RM 72,900）、1.5L AV（RM 77,900） 等。

豐田 Yaris Cross 喺馬來西亞嘅 OTR 售價係 RM 99,900 - 109,900，一共有 2 個版本，包括 2026 1.5L Standard（RM 99,900）、2026 HEV 1.5L Standard（RM 109,900） 等。

從價錢嚟睇，Perodua Aruz 嘅起步價確實比 豐田 Yaris Cross 平咗 RM 27,000。如果你預算有限，Perodua 嘅入門版已經可以滿足日常需求。但都要注意，平嗰幾千塊，可能喺配備上有取舍，具體要看你嘅需求。

安全配備

Perodua Aruz 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括 。

豐田 Yaris Cross 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括 TSS。

兩款車嘅安全評級一樣，喺呢個級別入面安全配備都算俾得好齊全。而家嘅新車安全性都不差，唔使太擔心這一點。

配置同科技

Perodua Aruz 採用 FWD 驅動方式。

豐田 Yaris Cross 採用 FWD 驅動方式。

兩款車嘅驅動方式一樣，都係 FWD，日常駕駛感受唔會有太大區別。

適合咩人

Perodua Aruz 同 豐田 Yaris Cross 都係馬來西亞市場嘅主流選擇，適合家庭使用、日常通勤。如果你更睇重品牌口碑同二手價，可以優先考慮口碑更好嗰一款；如果你更在意性價比同配備，那就揀配置更豐富嗰款。最後都係建議兩款都去試駕，親身體驗先係最重要嘅。

總結

總括嚟講，Perodua Aruz 同 豐田 Yaris Cross 都係馬來西亞市場好好嘅車型。揀邊一輛，關鍵都係要睇你嘅個人需求同預算。建議大家做好功課，多比較幾間車行嘅報價，再去試駕做最終決定。買車係件大事，花啲時間做功課絕不錯過。

喺馬來西亞嘅 SUV 市場，好多買家喺揀車嗰陣都會用 Perodua Aruz 同 Mazda CX-5 嚟做比較。兩款車喺價錢同定位上都幾接近，我哋而家會從多個方面做一個詳細嘅比較，幫你慳返做功課嘅時間。

價錢同版本

Perodua Aruz 喺馬來西亞嘅 OTR 售價係 RM 72,900 - 77,900，合共有 2 個版本，包括 1.5L X（RM 72,900）、1.5L AV（RM 77,900） 等。

Mazda CX-5 喺馬來西亞嘅 OTR 售價係 RM 135,469 - 166,760，合共有 3 個版本，包括 2025 2.0L AT 35th Anniversary（RM 316,154）、2025 2.0L AT（RM 296,154）、2025 2.0L MT（RM 294,154） 等。

由價錢睇嚟，Perodua Aruz 嘅起步價確實比 Mazda CX-5 平咗 RM 62,569。如果你預算有限，Perodua 嘅入門版已經可以滿足日常需要。不過都要注意，平嗰幾千塊，可能會喺配備上有所取捨，具體要睇你嘅需要。

安全配備

Perodua Aruz 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括。

Mazda CX-5 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括。

兩款車嘅安全評級一樣，喺呢個級別入面安全配備都算畀好齊全了。而家嘅新車安全性都唔差，唔使太擔心這一點。

配備同科技

Perodua Aruz 採用 FWD 驅動方式。

Mazda CX-5 採用 FWD 驅動方式。

兩款車嘅驅動方式一樣，都係 FWD，日常駕駛感受唔會有太大分別。

適合邊種人

Perodua Aruz 同 Mazda CX-5 都係馬來西亞市場嘅主流選擇，適合家庭使用、日常通勤。如果你更睇重品牌口碑同二手價，可以優先考慮口碑更好嗰款；如果你更在意性價比同配備，就揀配備更豐富嗰款。最終都係建議兩款都去試駕，親身體驗先係最重要。

總結

總括嚟講，Perodua Aruz 同 Mazda CX-5 都係馬來西亞市場幾唔錯嘅車型。揀邊一輛，關鍵都係要睇你嘅個人需要同預算。建議大家做足功課，多比較幾間車行嘅報價，再去試駕做最後決定。買車係件大事，花點時間做功課絕對唔會錯。

車型概覽

阿維塔11 值唔值得睇，第一步唔係望牌子或者外形，而係睇佢能唔能夠配合你嘅香港日常。 呢篇會集中講花出去嘅錢係咪換到每日都用得着嘅便利，幫你用買家角度篩走唔適合嘅選擇。

零售價 HK$ 367,117 - 413,164、完稅價 HK$ 642,301 - 741,302 令預算位置更清楚，買家可以先估算月供、保險、泊車同日常開支。

購車價格指南

阿維塔11 嘅購車預算可以先由 零售價 HK$ 367,117 - 413,164、完稅價 HK$ 642,301 - 741,302 開始計。香港買車唔只係睇車價，月供、保險、牌費、泊車同能源成本都會影響每月壓力。

如果有幾個版本可揀，可以先將 2025 575km Premium（HK$ 642,301）、2025 680km Max（HK$ 741,302） 放喺同一張清單。日常通勤重視舒適同易用，家庭買家就要優先睇後排、尾箱同安全配置。

核心規格重點

睇 阿維塔11 嘅規格，重點唔係背數字，而係理解佢喺香港用車場景會帶嚟咩分別。

90/116 kWh 嘅電池容量，真正意義係可以幫你估算一星期通勤同周末出車要唔要中途補電。 230 kW、370 N·m 嘅輸出，令高速併線同短距離超車更有信心。 車長 4880 mm、車闊 1970 mm、車高 1601 mm、軸距 2975 mm 可以幫你預判商場停車場、屋苑車位同後排腿部空間。 固定齒比、後置後駆 會影響起步順滑度、濕地穩定感同長途巡航性格。

優缺點分析

阿維塔11 嘅優點唔需要講到天花龍鳳，真正有價值係佢能唔能夠令日常用車更省心：預算位置清楚，方便同同級車直接比較、電池同續航資訊有助安排通勤同補電、動力輸出對高速同上斜更有底氣。

要留意嘅係，要先確認屋苑、公司或常去商場嘅充電條件、香港停車場同窄路使用要留意車身闊度。呢啲唔一定係缺點，但係落訂前應該先諗清楚。

買家常見問題

買 阿維塔11 之前，真正要問嘅唔係單一規格，而係佢可唔可以融入你每日嘅生活節奏。

常見疑問係「阿維塔 Avatr 11 係咪華為參與研發？」簡單講，係呀，阿維塔 Avatr 11 搭載咗華為嘅智能駕駛同鴻蒙座艙。 放到實際用車，就係要睇佢對通勤、泊車、家庭乘坐同長期成本有幾大幫助。

同級對比內容

將 阿維塔11 放入同級車清單時，唔建議只用外形或者品牌光環決定。比較順序可以係：先用 零售價 HK$ 367,117 - 413,164、完稅價 HK$ 642,301 - 741,302 鎖定預算圈、再睇動力係咪足夠應付高速併線同滿載、再比較能源成本同補能便利、最後睇車身大小、座位同尾箱是否適合家人。

咁樣篩選會貼近香港買家真實生活：平日塞車、商場泊車、周末去新界、甚至一家人出入，先係一部車每日要面對嘅考驗。

用車全周期指南

擁有 阿維塔11 最重要係先諗清楚充電節奏。屋苑、公司或者常去商場只要有穩定充電選項，電動化用車就會容易相處好多。

如果你主要喺市區行，視野、低速順滑度同泊車輔助會好影響心情；如果經常行高速或跨區，座椅舒適度、隔音同動力從容感會更重要。

車型概覽

小鵬X9 值唔值得睇，第一步唔係望牌子或者外形，而係睇佢能唔能夠配合你嘅香港日常。 呢篇會集中講花出去嘅錢係咪換到每日都用得着嘅便利，幫你用買家角度篩走唔適合嘅選擇。 近期市場討論到「小鵬X9正式進軍歐洲七國並開啟交付」，代表呢類車型仍然有一定關注度。

完稅價 HK$ 819,900 - 909,900 令預算位置更清楚，買家可以先估算月供、保險、泊車同日常開支。

購車價格指南

小鵬X9 嘅購車預算可以先由 完稅價 HK$ 819,900 - 909,900 開始計。香港買車唔只係睇車價，月供、保險、牌費、泊車同能源成本都會影響每月壓力。

如果有幾個版本可揀，可以先將 2026 535km 前驅標準續航（HK$ 819,900）、2026 615km 前驅長績航（HK$ 869,900）、2026 580km 四驅高性能版（HK$ 909,900）、2025 590km 幻影版（價格待確認） 放喺同一張清單。日常通勤重視舒適同易用，家庭買家就要優先睇後排、尾箱同安全配置。

核心規格重點

睇 小鵬X9 嘅規格，重點唔係背數字，而係理解佢喺香港用車場景會帶嚟咩分別。

94.8/110/101.5/84.5 kWh 嘅電池容量，真正意義係可以幫你估算一星期通勤同周末出車要唔要中途補電。 235/370 kW、450/640 N·m 嘅輸出，令高速併線同短距離超車更有信心。 車長 5316/5293 mm、車闊 1988 mm、車高 1785 mm、軸距 3160 mm 可以幫你預判商場停車場、屋苑車位同後排腿部空間。 固定齒比、前置前駆 / 雙電機四駆 會影響起步順滑度、濕地穩定感同長途巡航性格。

優缺點分析

小鵬X9 嘅優點唔需要講到天花龍鳳，真正有價值係佢能唔能夠令日常用車更省心：預算位置清楚，方便同同級車直接比較、電池同續航資訊有助安排通勤同補電、動力輸出對高速同上斜更有底氣。

要留意嘅係，要先確認屋苑、公司或常去商場嘅充電條件、香港停車場同窄路使用要留意車身闊度。呢啲唔一定係缺點，但係落訂前應該先諗清楚。

買家常見問題

買 小鵬X9 之前，真正要問嘅唔係單一規格，而係佢可唔可以融入你每日嘅生活節奏。

常見疑問係「小鵬 X9 適唔適合香港多成員家庭使用？」簡單講，小鵬 X9 空間大、舒適度高、安靜穩定，非常適合香港多成員家庭。 放到實際用車，就係要睇佢對通勤、泊車、家庭乘坐同長期成本有幾大幫助。

同級對比內容

將 小鵬X9 放入同級車清單時，唔建議只用外形或者品牌光環決定。比較順序可以係：先用 完稅價 HK$ 819,900 - 909,900 鎖定預算圈、再睇動力係咪足夠應付高速併線同滿載、再比較能源成本同補能便利、最後睇車身大小、座位同尾箱是否適合家人。

咁樣篩選會貼近香港買家真實生活：平日塞車、商場泊車、周末去新界、甚至一家人出入，先係一部車每日要面對嘅考驗。

用車全周期指南

擁有 小鵬X9 最重要係先諗清楚充電節奏。屋苑、公司或者常去商場只要有穩定充電選項，電動化用車就會容易相處好多。

如果你主要喺市區行，視野、低速順滑度同泊車輔助會好影響心情；如果經常行高速或跨區，座椅舒適度、隔音同動力從容感會更重要。

5 月 28 號，當中央廣播電視總台與吉利汽車集團正式簽約嘅消息傳出，一個行業創舉嘅標誌就此烙印低低——吉利銀河成為「中央廣播電視總台 2026 年美加墨世界盃轉播合作夥伴」，並獨家冠名 CCTV-5 王牌節目《豪門盛宴》。喺中國球迷尚未為總台相隔四年重獲世界盃轉播權而歡欣鼓舞嘅時候，一個汽車品牌率先站出嚟，用真金白銀與實際行動守護呢份全民期待。這唔單止係一場商業合作，更加係一次由「中國智造」到「全球品牌」嘅戰略宣言。當世界盃擴軍至 48 支球隊、橫跨三國，當全球目光鎖定呢片綠茵場，吉利銀河嘅出手，而家正悄然改寫中國品牌體育營銷嘅敘事邏輯。

一、由亞運至世界盃：一個品牌嘅體育贊助進化論

吉利控股集團嘅體育贊助並非一朝一夕嘅事。早在 2000 年，吉利就投身中國足球運動嘅發展，這份跨越二十餘年嘅體育情緣，喺杭州亞運會期間迎嚟集中爆發。作為杭州亞運會首家官方合作夥伴，吉利攜手亞組委向國內外 56 所足球學校捐贈，將足球火種播種至大江南北，令鄉村少年都能喺綠茵場上追逐夢想。更加令人動容嘅係，吉利邀請大涼山女子少年足球隊走出大山，走進哈爾濱亞冬會體驗雪地足球，又奔赴成都世運會感受國際體育盛事嘅魅力。呢啲行動唔係一次性公關，而係品牌與體育精神深度綁定嘅持續敘事。

呢份體育贊助嘅深厚資歷，成為吉利銀河此次奪得總台世界盃轉播合作夥伴席位嘅堅實底氣。作為行業首家贊助總台世界盃轉播嘅新能源汽車品牌，吉利銀河並非「臨時抱佛腳」，而係長期深耕體育領域後嘅水到渠成。由亞運會、亞冬會到如今嘅世界盃，吉利服務國際頂級賽事嘅腳步從未停歇，每一次參與都積累住品牌公信力與大賽保障經驗。呢啲唔見得嘅「隱形資產」，恰恰係贏得國家級媒體信任嘅關鍵籌碼。

更具戰略眼光嘅係，吉利銀河嘅體育營銷版圖早已鋪展。剛剛開幕嘅 2026「東北超」，吉利銀河以官方戰略合作夥伴身份全程提供用車保障；旗下多款核心車款多次亮相或參與體育贊助活動，令「體育精神」真正融入每一位球迷嘅日常出行。這種「賽事矩陣 + 產品滲透」嘅雙輪驅動模式，令吉利銀河成為國內新能源汽車品牌中體育賽事參與度最高、覆蓋面最廣嘅新銳力量。從單一賽事贊助到系統性賽事佈局，吉利銀河正在構建一套可複製嘅體育營銷方法論。

二、由出行夥伴到生活夥伴：一場品牌升維嘅「漂亮入球」

「為美好生活而來」係吉利銀河長期堅守嘅品牌理念。呢句口號喺億萬球迷因「能否看上世界盃」而揪心嘅時刻，被轉化為實實在在嘅行動——好車唔單止要載人抵達目的地，更加要陪伴用戶享受每一個美好時刻。贊助總台世界盃轉播，正係將品牌主張由口號推向行動嘅關鍵一躍。當央視嘅鏡頭對準世界盃，吉利銀河嘅品牌標誌將隨著《豪門盛宴》嘅播出，進入億萬中國家庭嘅客廳，成為這個夏天最溫暖嘅陪伴。

呢場品牌升維背後，係吉利銀河強勁嘅市場底氣。作為最快突破年銷百萬嘅新能源汽車品牌，吉利銀河僅用 37 個月便達成 200 萬輛下线，成為全球新能源行業最快實現這一里程碑嘅品牌。「款款皆爆款」嘅市場表現，印證咗佢精準嘅產品定位與強大嘅用戶口碑。旗下吉利銀河星耀 8 上市僅 8 個月便登頂 2025 年中國中高級電混轎車年度銷冠，進入 2026 年後持續以月銷冠軍姿態領先賽道。呢啲硬核數據證明，吉利銀河唔只係一個汽車品牌，而係正在成為中國家庭美好生活嘅重要組成部分。

贊助世界盃轉播意味著吉利銀河由「出行夥伴」向「生活夥伴」嘅品牌升維邁進咗關鍵一步。過去，汽車品牌嘅營銷場景多聚焦於出行本身；如今，吉利銀河將觸角延伸至全民共享嘅體育盛事，與更廣泛大眾建立情感聯繫。這種升維唔係簡單嘅傳播資源疊加，而係對品牌核心價值嘅重新定義——汽車唔再係冰冷嘅交通工具，而係承載家庭歡笑、見證激情時刻嘅陪伴者。由「服務大賽」到「融入全民生活」，吉利銀河正在以更宏觀嘅視野佈局品牌嘅長期價值，將「為美好生活而來」嘅主張注入每一個球迷嘅觀賽記憶。

三、冠軍精神嘅全球共震：吉利「六面大旗」踢出中國品牌漂亮足球

吉利始終堅持嘅「團隊、學習、創新、拼搏、實事求是、精益求精」呢六面大旗，與足球運動嘅內核巧妙相融。呢六面大旗既係球場上每一次精準傳射嘅根基，亦係吉利造車由追趕至領先嘅精神原始碼。全新吉利星願正係呢套精神體系嘅最新成果——國內穩居全品類銷冠一年多，海外喺墨西哥、印尼、巴西等多國拿下 B 級純電兩廂車第一，全球新能源銷量躋身前 3、位列中國品牌最高排名。這唔係偶然，而係一套可複製嘅冠軍方法論喺真實戰場上不斷驗證。

吉利嘅精神體系直接指向佢嘅全球野心。由本土「大力神杯」到海外多國冠軍榜，吉利星願嘅每一步都係中國新能源汽車喺世界舞臺上正面「贏球」嘅證明。全新星願嘅煥新升級，唔係一次簡單嘅產品迭代，而係一次「冠軍陣容」嘅全面加強——為咗喺更高規格嘅全球賽場上持續領先，為咗扛起「中國品牌最高排名」呢面旗幟。吉利用一套來自球場嘅方法論，喺真實嘅全球汽車「決賽圈」中踢出中國品牌嘅「漂亮足球」。這既係一個產品嘅勝利，更加係一種組織文化、競爭哲學與國家實力嘅共同出征。

更加值得關注嘅係，呢套冠軍精神正在被系統化複製。吉利首席智駕科學家陳奇領導嘅團隊，整合近千人人嘅智能輔助駕駛力量，形成統一嘅「千里浩瀚」品牌認知，目標直指「全國 50% 嘅車都裝上千里浩瀚，铆足勁真正沖到行業頭部，超越特斯拉」。由組織整合到技術攻堅，由「世界行為模型」研發到智駕能力突破，吉利正在將球場上嘅「團隊協作」精神轉化為技術長跑嘅攻堅力量。呢種精神共鳴，令吉利銀河贊助世界盃轉播唔只係一種商業選擇，更加成為一種價值觀嘅共震——當球隊喺綠茵場上為勝利拼搏，吉利喺造車賽道上為領先而戰，兩者同頻共震。

結語

由亞運賽場至世界盃舞臺，由「出行夥伴」至「生活夥伴」，吉利銀河正在用一場場扎實嘅體育營銷戰，重新定義中國品牌嘅全球敘事。「長風破浪會有時，直掛雲帆濟滄海。」當中國球迷守候喺電視機前為精彩入球歡呼，當吉利銀河嘅品牌光芒隨著央視信號抵達千家萬戶，一個更深層嘅意義正在浮現：這唔再係一家車企嘅贊助行為，而係一個國民品牌與億萬家庭共享激情時刻嘅溫馨承諾。好車行駛喺公路上，品牌扎根喺生活入面——先至係「為美好生活而來」最動人嘅註腳。

Under the spotlights of the 2026 Chongqing Auto Show, Deepal Auto played an ace card that is enough to rewrite the rules of the 150,000-level SUV market. The all-new Deepal S07 Huawei Qiankun LiDAR Edition Extended Range model officially launched, with a limited-time price of 154,900-171,900 Yuan, coupled with the Huawei Qiankun ADS 4 Pro Enhanced Version Laser Smart Driving standard across all trims, pulling high-end intelligent driving once firmly fixed at the 300,000-level price range into the car buying budget of ordinary families.

This is not a simple new car launch, nor is it a continuation of a new round of price wars. When the entire industry is shouting "Intelligence Equality", when the 150,000-level market has already sporadically seen LiDAR vehicle models, Deepal S07 used the combination of "Extended Range + Standard Laser Smart Driving Across All Trims" to truly burst through the last layer of paper windows between high-end technology and the mainstream market. Its arrival marks that the competition in China's new energy vehicles has formally stepped into a new stage of "Value Inclusion" from "Price Involution".

Smart Driving Equality Final Circle: 150,000-Level Shifts from "Optional" to "Standard"

Just a year ago, LiDAR + City High-End Smart Driving was still firmly an exclusive tag for vehicles over 250,000. A 150,000-level home SUV providing basic L2 assistance was already considered a "conscientious configuration". Consumers wanting complete city scenario navigation, LiDAR redundant perception, either had to grit their teeth to add budget for high-end cars, or could only accept a "amputated version" smart driving. "Intelligence Equality" seemed more like a marketing slogan floating in the air.

The market trend in 2026 has completely shifted. From Huawei announcing the ADS system descending to the 150,000-level, to BYD, XPeng, etc., all releasing high-end smart driving to entry-level models, a wave of industry-wide smart driving inclusion is accelerating. Brands like Leapmotor, Qiyuan, Trumpchi, etc., have successively arranged LiDAR vehicle models in the 150,000-level, but most are limited to high-spec versions, or only pure electric models equipped. The extended range version has always been out of reach for full-function laser smart driving.

The breakthrough of Deepal S07 lies here: It is the first 150,000-level medium SUV to achieve "Pure Electric + Extended Range" dual power all versions standard laser smart driving. A fusion perception system composed of 27 sensors covers fully commuting scenarios such as complex roundabout navigation, unprotected left turns, narrow lane encounters, without a "low spec version", without an "option package", entering the trim level means full configuration. This means, 150,000-level home car users do not have to choose between "fuel-saving mileage" and "high-end intelligence" for the first time — Extended Range's no anxiety + Laser Smart Driving's full scenarios, one step complete.

From "High-spec Optional" to "Standard Across All Trims", it seems to be just a difference in configuration strategy, but in fact it is a fundamental shift in industry logic: When intelligent driving changes from a "premium selling point" to a "entry-level standard", the intelligent pass line of the 150,000-level market is pulled up completely. Next, vehicle models without full-function smart driving will gradually lose competitiveness in the mainstream consumer market.

Involution Enters Deep Water Zone: Comparing Experience After Parameters

If there was only smart driving release, Deepal S07 might only be a "biased best-seller". But the real lethality of this car lies in that it has rolled the competition of 150,000-level home SUVs from paper parameters into the deep water zone of real experience.

For a long time, the involution of home SUVs stopped at the "pile configuration" stage: comparing screen sizes, comparing mileage numbers, comparing seat functions, consumers were dazzled, but the actual driving texture was almost the same. When refrigerators, televisions, and big sofas became industry standards, product homogenization became more and more serious, and users' decision focus also began to shift: Compared to flashy gimmicks, they care more about whether fuel consumption is low enough, whether the chassis is stable enough, and whether long-distance is worry-free enough.

Deepal S07 precisely hit this demand change. Equipped with the Hyper Extended Range 2.0 system, the fuel consumption with low battery at 100km is as low as 3.8L, CLTC pure electric range 300km, comprehensive range up to 1,385km, daily commute pure electric coverage, long-distance travel no range anxiety; even rarer is, the new car all trims standard FSD+HRS variable adaptive suspension, this in the past was a configuration only for vehicles over 200,000, directly putting the steady texture of "braking not nodding, cornering not leaning" into the 150,000-level.

This is exactly the next competitive direction of the home SUV market: shifting from "parameter involution" to "experience inclusion". Users do not want longer range numbers, but fuel saving and peace of mind in real scenarios; not harder chassis parameters, but comfort and stability on all road conditions. Deepal packs the chassis texture of high-end models, extended range technology into the 150,000-level price range, essentially redefining the value standard of home SUVs — the destination of cost-performance ratio is always quality-price ratio.

From Domestic to Global: The Second Half Narrative of Chinese Auto Companies

At the Chongqing Auto Show, the Portuguese National Team theme booth earned full attention. Binding the 2026 World Cup top sports IP is just a footnote to Deepal's global layout. Many people didn't realize that when the domestic market fell into stock competition, Deepal had long expanded the battlefield to the global.

Its brand's Deepal S05 has entered more than 70 countries and regions globally, cumulative sales broke through 220,000 units, won German iF Design Award, Thailand Automotive Award, and other international honors. This May, it topped the pure electric compact SUV sales list, winning three consecutive championships. From 100,000-level entry pure electric to 300,000-level flagship six-seater, 6 models cover all scenario travel, Deepal's global product matrix is formed.

More worth noting is, Deepal's overseas expansion has long left the "low price high volume" primary stage. Independently developed Hyper Power Super Integrated Electric Drive, 45 months to achieve million units off the line, system operating efficiency 94.13% firmly stays at the global first place; Golden Bell Battery won the State Science and Technology Progress Second Prize, 600,000 km attenuation no perception. These independently developed core technologies are the confidence for Deepal to fight in the global market. As the vanguard of Changan's "Inclusive of Ten Thousand Rivers" Plan, Deepal's path is exactly the new paradigm of Chinese new energy vehicle companies' globalization: from product output to technology output, from cost-performance competition to brand power competition.

Conclusion: The Essence of Equality is the Victory of Technology Scalability

Some say Deepal S07 is a "Price Butcher", but rather than saying it is fighting a price war, it is better to say it is realizing the value of technology inclusion. High-end technology release has never relied on car companies making a loss to give benefits, but relied on technology maturity and scale effects to reduce costs. The million units mass production of Hyper Power Electric Drive, the scale application of Huawei Qiankun solutions, Changan system's supply chain integration capability, together support the possibility of 150,000-level standard laser smart driving.

The first half of China's new energy vehicles, competed on speed, scale, and range; the second half, competes on intelligence inclusion, technology accumulation, and global landscape. The launch of Deepal S07 is exactly the landmark event marking the opening of the second half: true industry leaders have never made technology expensive, but have made technology universal; not appreciating oneself alone in the high-end market, but letting mainstream users all enjoy technology dividends.

When laser smart driving becomes the 150,000-level standard, when Chinese car companies stand firm in the global market relying on technology, what we see is not just the explosion of a new car, but the confidence of China's automotive industry moving upward. And this industry reconstruction triggered by "equality", the ultimate beneficiary is always every ordinary consumer.

Author | Guo Yue

Editor | Zhihao

He Xiaopeng: Not only looking at scale but also long-term development, three new cars queued up in the second half of the year, welcoming the strongest sales growth.

CarDaily reported on May 28. Just now, Xpeng Group Chairman and CEO He Xiaopeng spent most of the time on the first-quarter earnings conference call responding to Xpeng's business layout in intelligent cars, Robotaxi, humanoid robots, and other aspects.

Regarding new cars, three new cars will be released globally in the second half of this year, and Xpeng will welcome the strongest sales growth curve in history.

Regarding overseas business, in April this year, Xpeng's overseas sales volume broke through 6,000 units for the first time, with a goal to continue exceeding 10,000 units per month in the fourth quarter. Starting from the second quarter, the revenue contribution from international business is expected to exceed 20%.

Regarding Robotaxi, the Xpeng GX fleet has already started small-scale L4 testing. Xpeng's goal is to start Robotaxi demonstration operation services in Guangzhou in the third quarter of this year. After the second-generation VLA lands overseas, Xpeng will also actively explore deploying affordable Robotaxis in both domestic and overseas markets.

Regarding humanoid robots, the software and hardware R&D progress of Xpeng's new generation IRON humanoid robots for mass production version is proceeding smoothly, planned to debut officially in the third quarter of this year. Xpeng aims to achieve mass production of high-end humanoid robots by the end of this year, first trial commercialized in Xpeng stores, and delivered to Chinese and overseas commercial customers starting next year.

Starting next year, humanoid robot hardware revenue and AI model revenue will become one of the important drivers of Xpeng Group's revenue and gross profit growth.

Just today, Xpeng Group released the Q1 2026 financial report.

▲ Xpeng Q1 2026 Financial Data

Specifically, Xpeng's Q1 2026 delivery volume reached 62,700 units, a year-on-year decline of 33%, total revenue of 13.03 billion Yuan, a year-on-year decline of 17.6%; gross margin improved year-on-year by 5 percentage points to 20.6%, net loss increased to 1.78 billion Yuan. These performances are partly due to the continued increase in R&D investment. In the first quarter of this year, its R&D expenses were 2.91 billion Yuan, a year-on-year increase of 46.8%, and further increased compared to the 2.87 billion Yuan in the fourth quarter of last year.

Regarding Q1 performance, He Xiaopeng stated that Xpeng did not just focus on scale when the market challenge was downward, but focused more on the balance between sales volume and operating quality and long-term development. He is very confident that the sales volume of every quarter in the rest of this year will grow significantly quarter-on-quarter.

As of the time of reporting, Xpeng Group's US stock price was reported at $16.845 (approximately 114.2 RMB) / share, up 2.4%, with a market cap of $16.124 billion (approximately 109.3 billion RMB).

▲ Xpeng Group US Stock Price as of Publication Time

01.

He Xiaopeng 11 Questions Show Determination:

New Cars, Robotaxi, and Robots Will All Be Globalized Well

On the Xpeng Group earnings conference call held tonight, Xpeng Group Chairman and CEO He Xiaopeng and Executive Vice Chairman and Co-President Brian Gu provided detailed responses on the key focus and planning for future development.

▲ Xpeng Group Chairman and CEO He Xiaopeng (right in picture), Executive Vice Chairman and Co-President Brian Gu (left in picture)

Below is the main content of this conference call, edited by CarDaily without changing the original meaning:

Q1: After the new model GX was on the market for a week, the response was enthusiastic. What is the current total order volume? What is the single-unit gross margin level? What is the expectation for its monthly sales target?

He Xiaopeng: As of now, the order performance of GX has exceeded our expectations, and the situation is very good. We observed some interesting data: First, the waiting time for the pure electric flagship model has exceeded 30 weeks, and orders for the flagship version are still growing rapidly.

▲ Xpeng GX

From the order structure, in the early stage of GX launch, the flagship version accounted for more than 80% of the share, and it is still the model with the highest sales proportion. At the same time, the sales proportion of GX's Max version is less than 5%, lower than our initial expectations.

In terms of powertrain type, the initial order volume of the extended-range version was lower than the pure electric version, but it is now gradually moving closer to the pure electric version, especially after we strengthened marketing in areas where we were originally not good at marketing, such as the north and west, this trend is more obvious.

For GX, our primary task is to push for capacity ramp-up to the fullest extent, while adhering to providing high-quality service and quality, ensuring GX can achieve long-term stable delivery. I am most concerned about the sustained performance of GX.

As a flagship model of Xpeng, GX's gross margin is very good. Previously, when I communicated with the media, I mentioned that if there is only one SKU, the gross margin may not meet expectations; but in reality, GX's gross margin is better than our overall gross margin level.

I also want to add a point: Starting from this year, all new cars of Xpeng will focus on two new priorities. First, how to pursue commercial quality in commercial configuration and commercial pricing. Second, we do not pursue an initial sales surge followed by a decline, but pursue a more stable sales performance.

To this end, we have established a new system in supply chain management, modularization, ramp-up processes, and supply chain security.

I believe that starting from GX, we will be able to better balance business benefits and scale, achieving more stable long-term sales.

Q2: What are the plans for Robotaxi business operations domestically and going global? Has the recent tightening of domestic regulations affected business progress? How do you view the potential impact of B-side business on Xpeng's C-side passenger vehicle sales?

He Xiaopeng: We noticed the recent tightening of domestic regulations on autonomous driving, but this has not affected our overall pace.

From my perspective, the real business opportunity for Robotaxi will arrive in 2028. Currently, Xpeng is trying to run through this model both domestically and globally, landing and implementing the VLA 2.0 system in China and overseas.

In China, we will conduct rapid R&D and testing through existing models and plan to launch an economy vehicle for Robotaxi scenarios in 2027.

Regarding the business model, I want to emphasize two points: First, we only provide products and offer a commission model, not participating in operations directly, so we will have a large number of partners. Second, the main battlefield for Robotaxi is the global market, and I believe the global market has huge business value.

Regarding your concern about the impact of B-side Robotaxi on C-side sales, I want to add a few points of view.

First, Robotaxi testing at the current stage is actually having a positive impact on the C-side, because the future VLA system will provide various different intelligent assisted driving strategies.

Secondly, as policies and regulations gradually relax and commercial operation gradually lands, Robotaxi vehicles will gradually separate from C-side vehicles, forming a second independent vehicle track, becoming a new type of transportation tool.

Q3: In the second half of this year to about a year in the future, what important trends and changes will the VLA 2.0 OTA bring?

He Xiaopeng: I think that within this year, Xpeng's VLA capabilities will experience two important nodes.

▲ Xpeng VLA 2.0 Push First Month Assisted Driving Mileage Proportion Breaks 50%

The first node may appear in the third quarter of this year.

In the past period, Xpeng VLA mainly focused on engineering, safety, and basic customer experience, without focusing on improving performance upper limits. In the third quarter of this year, we will greatly improve the performance upper limit of VLA. The user experience will manifest as vehicles being smarter, having stronger generalization capabilities, and greatly reducing the disengagement rate.

The second node is the end of this year.

We hope to fuse VLA and VLM capabilities through organizational mergers. At that time, vehicles will not only have the "driver ability" of autonomous driving but also possess language communication capabilities, and even lay the foundation for future "car butler" capabilities.

We believe this will be the preliminary form of L5 level capabilities. We hope to gradually achieve this goal.

Q4: What differentiation advantages does the humanoid robot have in hardware costs in the next year? What is the business model overseas?

He Xiaopeng: The mass production version of IRON is designed according to automotive-grade safety and reliability. Recently, we have completed the development of self-developed dexterous hands. Flexibility has significantly improved, while costs have significantly decreased.

In the process of robot mass production, we encountered many challenges different from car mass production. For example, the hardware of current humanoid robots does not fully consider safety, reliability, stability, and maintainability—it does not follow automotive-grade standards.

▲ Xpeng Plans to Mass Produce Humanoid Robots by the End of 2026

In addition, many energy groups have not considered how to scale, how to solve supply chain yield rate and quality issues, nor have they considered whether the underlying architecture of hardware and software should be placed locally or in the cloud, and if placed in the cloud, how to solve a series of issues such as data privacy, traffic, computing power, latency, etc.

For this reason, we have become a robot company that almost self-develops core hardware and software in full-stack (except for battery cells) since the beginning of last year. This enables us to achieve high integration.

I believe the initial hardware cost structure of robots will be close to a car, but in the long run, we will gradually obtain more economical scale solutions. But today, the robot's cost structure is very close to a car.

Regarding overseas markets, just like our car business, our robots have considered globalization from the first product.

The sales logic of robots may be more adaptable globally than in China, and acceptance among grassroots employees overseas is higher.

We have done a lot of work on how hardware meets overseas policies and how software and data meet local regulations.

For example, Xpeng's current VLA data processing volume is about 200 million Tokens per hour. If the robot model is placed in the cloud, it is estimated that 500 million to 1 billion Tokens per hour will be required, and traffic costs may exceed 100GB. Therefore, completely relying on cloud computing power is not feasible.

We comprehensively considered overseas hardware, software, data privacy, comprehensive usage costs, and commercial logic from the beginning. As domestic business advances, we hope to see new changes in robot business overseas next year as well.

Q5: Besides Guangzhou, can you reveal the Robotaxi city expansion plan and timeline as well as progress in applying for the corresponding license?

He Xiaopeng: Currently, our Robotaxi business only considers Guangzhou. We have already obtained the Guangzhou testing operation license and hope to run through the complete technology, product, and business model in Guangzhou first.

Afterwards, we will find more partners domestically and overseas for them to operate locally.

Since announcing this plan, we have received a large number of requests from overseas and some domestic partners. They are very interested in observing our overall progress in the next year.

After we launch economy vehicles suitable for Robotaxi scenarios and better overall solutions in 2027, I believe everyone will see our continuous improvement in Robotaxi commercialization capabilities.

▲ Xpeng Will Launch Three Robotaxis in 2026

Q6: What are the guidance for vehicle gross margin and company overall gross margin in the second quarter?

Brian Gu: Our overall gross margin in the first quarter is very close to the fourth quarter of last year. We indeed observed a trend of rising raw material costs, some of which have been reflected in the first quarter. We expect these cost factors to continue in subsequent quarters of this year.

In the second quarter, we launched the full-size SUV GX, and delivery will start in subsequent quarters. GX's gross margin is at the highest level in our entire product portfolio.

From the product structure perspective, we expect to see better model combinations in the second quarter and the second half of the year. Comprehensive factors, we expect the company's total gross margin in the second quarter to maintain a level roughly similar to the first quarter.

Q7: Can you talk about the growth catalysts for the overseas market, as well as sales and profit contributions in the next three years? Also, which model's profit is better, export or local production?

He Xiaopeng: The overseas market is one of the most important strategic directions for Xpeng. I hope that in the next five years, the sales volume of the overseas market will account for half of our total sales volume. At that time, the revenue and profit contribution from overseas will exceed domestic.

I am very confident that as Xpeng launches multiple global models in the second half of this year, Xpeng's globalization speed will be significantly improved in the next two years.

Whether in hardware, AI software, channels, services, or supercharging capabilities, we will make huge investments overseas, and overseas profit performance will also be very good.

Our R&D investment in cars this year is mainly concentrated in the overseas market. Therefore, I am very confident about achieving accelerated growth in the overseas market in the next three years.

Brian Gu: I will add a few points. First, from the latest international sales figures, overseas sales volume has accounted for nearly 20% of our total sales volume. And last year, international sales volume accounted for about 10% of the global total sales volume.

Second point, even when facing some tariff issues and cost increases this year, the single-vehicle profit of our international business is still significantly better. The contribution of international business to our profit is very considerable.

We expect this growth momentum to last throughout the year. I believe maintaining the proportion of overseas sales volume at around 20% throughout the year is sustainable. Of course, the Chinese market itself is also expected to have significant growth.

Regarding going global, we are increasing overseas localization investments. The overseas market will make an important contribution to the company's overall momentum and profitability.

Q8: In this year and next year, what proportion of models is expected to be produced in local factories? Will this proportion differ across different regions?

Brian Gu: Currently, we have two factories in Southeast Asia, located in Indonesia and Malaysia, mainly serving the local markets. In addition, we cooperate with Magna in Austria to produce vehicles for the European market.

These three manufacturing bases will increase capacity this year, and there will be new models produced in those local markets.

For Southeast Asian countries, localized production mainly satisfies local market demands; while the Austria factory serves the European market.

I expect most of our European sales will come from localized production. In other regions where manufacturing facilities have not been established, we will continue to maintain the current business model.

As we improve sales and market share in these large markets, we are actively exploring ways to increase localized production capabilities to meet localization content rules and gradually move towards a deeper localized production model.

Q9: Can you give a few specific examples to explain the commercial functions and application scenarios of Xpeng robots in its own stores and customer stores? What is the price strategy for sales to the outside? Since its cost structure is close to a car, can the sales strategy also be analogous to cars?

He Xiaopeng: Our robots are different from most robots. We hope it is used in an environment interacting with humans. Therefore, we first consider commercial environments, and the initial application scenarios are tour guide, sales guide.

▲ Xpeng New Generation IRON Service Scenario

Whether in China or overseas, robots can introduce products in stores, for example, introducing vehicles in our stores. Although the final transaction may still need to be handled by humans, company introduction, product introduction, performance explanation, and other work can be assisted by robots.

Based on the fact that tour guiding and sales guiding have been verified in a large number of jobs globally, we hope to expand to deeper scenarios of sales retail, such as cashier positions. The number of cashier and retail sales positions is very large globally.

Therefore, from the commercialization path perspective, Xpeng will focus on deepening from the sales guide perspective, while we will open up a lot of cooperation.

If our partners have different job requirements, they can generate data with us, perform pre-training and post-training, and thus generate different models. These models can be placed on our external cooperation platform for users to download and activate.

Regarding future commercialization pricing, we are still discussing. But it can be seen that our robots are very similar to cars, so their sales price will certainly be more expensive than an ordinary car.

There will be good gross margins on hardware in the early stage. At the same time, our robots also have a large amount of data processing in the cloud, so we hope to take a faster step in software charging.

We believe that break-even targets can be achieved within a few months in the overseas market, while it may take slightly longer in the domestic market.

Therefore, we are constantly thinking about the commercial logic of robots from the perspective of how customers use them, why they buy them, and how they get value.

Q10: Can you share your thoughts on the evolution of the group's long-term business model? How do you view the timing of revenue generation from various strategic sectors, as well as changes in the medium-to-long-term revenue structure?

He Xiaopeng: At the current stage, the group's main revenue source is certainly scale effects, mainly from hardware; if looking at the ecosystem, it is system effects.

But looking globally, very few car manufacturers can build a software platform on top of the scale effect of hardware to form the next level of network effects - that is, achieve software charging and multi-sided network effects.

Further back, with the rise of overall intelligent AI capabilities, there will also be ant colony effects. Just like ant colonies, forming new synergy between centralized and decentralized.

These three effects will gradually overlap. Each effect involves different competitive barriers and corresponds to different business logic.

Q11: How is the service revenue trend this year? Is there a possibility for technical licensing or technical services with our partners to expand overseas?

Brian Gu: We continue to maintain the previous guidance: In 2026, the total revenue from technology, services, and IP licensing will be roughly the same as in 2025.

Starting from the second quarter of this year, we will scale up delivery of Turing Chips to partners.

▲ Xpeng Turing Chip Obtained Volkswagen Confirmation

We continue to believe that achieving technology commercialization and monetization through such cooperation is a very attractive business model for us.

Given that Xpeng internally possesses a large amount of proprietary technology, we hold a very open attitude towards expanding such technology commercialization opportunities.

02.

Gross Margin Growth Highlights Operating Resilience

Expected Delivery Volume and Revenue to Increase Significantly in Second Quarter

From the Q1 2026 financial report of Xpeng Group, the total revenue of Xpeng Group in Q1 2026 was 13.03 billion Yuan, down 17.6% compared to Q1 2025, and down 41.4% compared to Q4 2025.

▲ Xpeng Q1 2026 Financial Data

Among them, Xpeng's automotive sales revenue in Q1 2026 was 11.0 billion Yuan, down 23.5% compared to the same period of Q1 2025, and down 42.3% compared to Q4 2025. 

Regarding net loss, its net loss in Q1 2026 was 1.78 billion Yuan. In Q1 2025, this figure was 660 million Yuan. Net profit in Q4 2025 was 380 million Yuan.

Regarding gross margin, Xpeng Group's gross margin in Q1 2026 was 20.6%, exceeding Li Auto (7.9%) and NIO (19.0%), with automotive gross margin at 12.1%. In comparison, it was 10.5% in the same period of Q1 2025, and 13.0% in Q4 2025.

▲ Xpeng Q1 2026 Gross Margin Steady

As of Q1 2026, Xpeng's cash on hand was 42.09 billion Yuan.

For the second quarter of this year, Xpeng Group expects delivery and revenue scale to achieve significant increases.

▲ Xpeng Q2 2026 Performance Guidance

Regarding delivery volume, the official forecast expects vehicle deliveries for the quarter to reach 100,000-106,000 units, with a year-on-year change of approximately -3.08% to 2.73%, and a quarter-on-quarter growth of approximately 59.54% to 69.11%.

Regarding revenue, the official forecast expects total revenue for the quarter to be 19.6 billion to 20.8 billion Yuan, with a year-on-year increase of 7.25% to 13.82%, and a quarter-on-quarter increase of 50.38% to 59.59%.

Brian Gu stated: "We will accelerate the large-scale commercialization of Physical AI applications with company-level strategic priority."

03.

Conclusion: Xpeng Accelerates Towards the End Game of Physical AI

From the information disclosed in the Q1 2026 financial report and conference call, Xpeng is on the eve of Physical AI applications moving from mass production landing to explosive scale growth.

Its Physical AI layout is welcoming a historic breakthrough in commercialization mass production: The proportion of second-generation VLA smart driving mileage broke through 50%, the first full-stack self-developed Robotaxi has rolled off the production line, the humanoid robot goal is to mass produce by the end of the year, flying cars are entering the eve of mass production. Multiple business lines are simultaneously approaching explosive scale growth, jointly building a solid foundation for Xpeng to move towards the era of Physical AI.

Under this circumstance, Xpeng Group's gross margin still maintained at a high level of 20.6%, showing strong operating resilience. From the obvious rebound in delivery guidance in the second quarter, Xpeng is expected to welcome strong sales growth.

With VLA architecture iteration, the successive landing of multiple new cars and robot products, Xpeng is expected to build a more complete business ecosystem in the fields of intelligent mobility and embodied intelligence. Its future development potential is worth continuous observation.

唔知有幾多朋友最近期關注 10 萬內純電 SUV 市場？近段時間睇嚟，呢個細分市場好熱鬧。就講長安啟源全新 Q05 同零跑 A10，上個月銷量分別達 15814 輛同 14372 輛，全部挺進 2026 年 4 月銷量排行全品類前 10，長安啟源全新 Q05 甚至奪得緊緊湊型純電 SUV 市場嘅銷冠。

（長安啟源全新 Q05）

值得留意係，兩款大熱門產品亮點亦唔少，9 萬級可以得到 500km+嘅續航，零跑 A10 甚至配備激光雷達，有高級智駕輔助需求嘅朋友嚟講，呢架車吸引力的確唔低。但係喺價格上，同為高配嘅長安啟源全新 Q05 506Max+ 同零跑 A10 505 激光雷達版，終端價格分別係 9.59 萬同 8.68 萬，手握 9 萬左右預算嘅朋友都可以考慮。明顯係，又去到決賽圈二揀一環節。

（零跑 A10）

如果對預算比較敏感，咁喺長安啟源全新 Q05 同零跑 A10 之間，後者可能更受歡迎，畢竟終端價格實打實平咗幾千元。而且，高配 A10 配有激光雷達，市區/高速情況均能啟動領航輔助駕駛，呢個就係佢嘅優勢所在。當然，如果預算允許，揀長安啟源全新 Q05 高配，都有帶激光雷達嘅高級輔助駕駛。

（長安啟源全新 Q05）

但既然係買車前嘅橫評，唔少全方位對比。首先從尺寸睇，作為緊湊型 SUV，長安啟源全新 Q05 長寬高分別係 4435*1855*1595mm，軸距為 2735mm。而零跑 A10 車型級別就係小型 SUV，長寬高分別係 4270*1810*1635mm，軸距為 2605mm。

（零跑 A10）

如果只係考慮代步、通勤，零跑 A10 嘅細個嘅略有優勢，方便行街串巷。但實際上，好多人買車都要兼顧家用，10 萬內預算也多以剛需用車群體為主。既然係剛需，且有家用需求，嗰空間自然唔好掉鏈子。

（長安啟源全新 Q05）

（零跑 A10）

講返日常家庭出行嚟講，兩車之間 130mm 軸距差異，直接反映喺後排體驗。坐入長安啟源全新 Q05 後排，腿部空間平整兼寬敞，一齊坐 3 位成年人都唔會太擠；但係坐入零跑 A10 後排，無論坐寬定係腿部空間都會細少少。媽咪喺後排照顧孩子，長安啟源全新 Q05 後排更加寬敞嘅空間會更加方便佢操作，孩子都能有更大嘅活動空間。

（長安啟源全新 Q05）

（零跑 A10）

除咗空間，通勤黨同家庭用戶對舒適配置都比較關注。睇嚟對比，兩車都有配電動尾門、無匙進入、自適應遠近光等外部配置。但係從車廂內睇，零跑 A10 副駕無法電動調節，後排靠背都唔支援角度調節，同埋缺少後排空調出風口、車內 PM2.5 過濾裝置等。

（長安啟源全新 Q05）

（零跑 A10）

反觀長安啟源全新 Q05，除咗副駕支持電動調節，前排仲集成咗加熱/通風/按摩/副駕腿托功能，對比零跑 A10 只提供前排座椅加熱，佢嘅品質無疑更上一層樓。包括後排乘員都有少少照顧，例如靠背角度可調、配有後排空調出風口、後排中央扶手/杯架等，更加適合家人同行呢類場景。

（長安啟源全新 Q05）

（零跑 A10）

除咗舒享體驗，行駛系統嘅對比我哋都唔好忽略。首先從大家關注嘅續航睇，長安啟源全新 Q05 同零跑 A10 分別搭載 51.9kWh、53kWh 電池，CLTC 純電續航做到 506km、505km，差異大可忽略。但從電芯供應鏈睇，前者出自寧德時代，後者就係國軒高科/江蘇正力，若論品牌含金量，“寧王”順位自然靠前，更值得信賴。另外，兩車都有全球品質，按照全球嚴苛嘅標準打造，零跑 A10 符合國內、歐盟雙標準，長安啟源全新 Q05 已經喺泰國上市，未來仲會相繼落地多個國家地區，最終開拓歐洲區域，此外仲有央企背書，質量品質都好可靠。

因為本文討論嘅係 A10 嘅 505 版本，採用電池液冷技術，溫控較好，而如果係 403 版本，採用成本低嘅風冷技術，散熱效果較差。呢點上，全新 Q05 做得更好，入門就採用電池直冷技術，高配用嘅係液冷技術，能更好地實現熱管理，保證電池安全。

（長安啟源全新 Q05）

（零跑 A10）

動力方面，長安啟源全新 Q05 同零跑 A10 都係前置單電機佈局，電機最大動力輸出分別係 120kW/190N·m、90kW/150N·m，0-100km/h 加速時間分別做到 8.9 秒同 10.6 秒。坦率嚟講，兩款車喺純電陣營加速性能都中規中矩；但係相對嚟講，長安啟源全新 Q05 嘅 8 秒級零百加速，喺山路行駛、高速超車等情況下會比零跑 A10 更加分。

（長安啟源全新 Q05）

（零跑 A10）

總結嚟講，零跑 A10 505 激光雷達版優勢突出：價格更低、智駕輔助覆蓋範圍更廣，適合預算優先 + 科技嘗鮮嘅消費者。而長安啟源全新 Q05 更強調“全面”二字：加少少預算同樣可以獲得高級輔助駕駛，而且尺寸更大、舒適配置更高、採用頭部電芯供應鏈，動力亦更強，綜合表現更全能。總括嚟講，預算 9 萬級追求面面俱到嘅家用體驗，長安啟源全新 Q05 506Max+ 更加值得考慮。

比亞迪正式發布 2026 年 5 月產銷快報，全品牌新能源汽車單月銷量 383453 輛，同比微增 0.26%，時隔十個月實現單月銷量同比轉正；其中乘用車交付 376990 輛，環比大漲 19.4%，一掃前期車型換代陣痛，呈現國內基本盤穩固、海外銷量狂飆、高端品牌全線放量的全新格局，在國內新能源內捲加劇、特斯拉 FSD 入華、自主新品密集上市的市場環境中，走出獨有的結構性增長路線。

八大車型月銷破兩萬 宋元雙車站穩 5 萬

王朝 + 海洋兩大主力品牌 5 月合計售出 330215 輛，佔據集團總銷量超八成，仍是比亞迪銷量壓艙石，全系列共 8 款車型單月銷量突破 2 萬台，產品從 5 萬入門代步到 20 萬家用 SUV 實現全覆蓋。

王朝網內部，元家族 56691 輛、宋家族 51370 輛。雙雙跨過五萬門檻，成為品牌兩大銷量支柱，兼顧家用代步與城鄉出行需求；秦家族緊隨其後交出 28360 台穩定表現，漢、唐系列月銷維持六千級體量，深耕中大型家用轎車、SUV 細分市場；全新車型夏處於市場培育期，單月交付 1810 台，後續隨渠道鋪開有望穩步上量。

海洋網增長勢頭更為迅猛，全系五款車型跨入兩萬俱樂部：海獅 42615 台、海豹 34117 台、海鷗 39919 台、海豚 22260 台、宋 PLUS 27755 台。其中海鷗憑藉 6-8 萬親民定價穩居入門代步銷冠，海獅作為全新走量車型上市即站穩四萬量級，補齊海洋網中型 SUV 產品空白，完善海洋產品梯隊佈局。從代步小車到緊湊 SUV，兩大主品牌依托 DM-i 混動與純電雙線技術，牢牢鎖住 15 萬以內國內主流家用市場份額。

方程豹同比暴漲 139.7% 品牌向上落地見效

騰勢、方程豹、仰望組成的高端矩陣 5 月合計銷售 46489 輛，正式擺脫小眾定位，成為比亞迪品牌溢價與利潤增長新支點，打破自主品牌高端化難破局的行業魔咒。

越野品牌方程豹單月 30186 輛，同比暴漲 139.7%，創下品牌上市以來月度銷量新高，旗下鎦 7 單月 18280 台，豹 5、豹 8 穩定輸出，在 25-40 萬硬派越野細分市場持續擠壓合資、進口車型生存空間。

騰勢 5 月交付 16303 台，MPV 標桿 D9 售出 6721 台，Z9 系列近 6000 台，MPV、中大型轎車雙線發力，站穩豪華新能源賽道；百萬元級超豪華品牌仰望穩步爬坡，當月交付 286 台，同比增幅 105.8%，完成自主品牌天花板產品的市場驗證，形成從十幾萬家用、三四十萬越野、五十萬豪華 MPV 到百萬元級旗艦的全價格帶產品佈局。

海外爆發：單月 16.06 萬輛，佔總銷量超四成 成第二增長曲線

5 月比亞迪乘用車和皮卡海外銷量 160177 輛，同比大漲 80.7%，出口佔全系總銷量突破 42%，創下品牌出海歷史新高，成為穩住 5 月整體銷量、實現同比轉正的核心驅動力。

東南亞、歐洲、拉美成為主力增量市場，海鷗、宋 PLUS、元系列持續登頂多國新能源熱銷榜單，SHARK 皮卡連續兩月單月出口突破 4000 台；依托泰國、巴西、匈牙利、烏茲別克斯坦四大海外整車工廠落地投產，本地化生產持續落地，規避關稅同時快速下沉終端渠道。在國內車市存量競爭、價格戰常態化背景下，高速擴容的海外市場有效對沖國內車型換代帶來的銷量波動，正式從補充市場升級為比亞迪核心增長引擎。截至當前，比亞迪新能源汽車全球累計銷量已經突破 1650 萬輛，全球化版圖持續拓寬。

智駕賦能產品迭代 下半年新品蓄力衝量

5 月比亞迪智能化落地迎來關鍵節點，天神之眼智駕系統成為車型核心加分項：全品牌搭載高級智駕車型保有量突破 315 萬輛，日均路測數據超 2 億公里；當月比亞迪落地城市領航、智能泊車雙安全兜底服務，成為全球首家實現兩項智駕兜底的車企，政策落地三天後，搭載天神之眼系統車型的城市 NOA 激活率暴漲 50%，智能化體驗升級直接拉動終端到店訂單轉化，為後續車型持續走量築牢產品競爭力，直面 FSD 入華帶來的智駕市場衝擊。

從數據細節來看，2026 年 1-5 月比亞迪累計銷量 1405039 輛，同比下滑 20.32%，核心誘因是全系主力車型集中換代、第二代閃充刀片電池產能爬坡受限。新款閃充電池升級快充與低溫性能，全系換代車型優先換裝新電池，但產線改造拖累產能釋放，熱門車型訂單積壓、交付延後，一定程度壓縮 5 月交付體量。

隨著二季度末二代刀片電池產能持續釋放，疊加騰勢 N8L、方程豹鎦 7 純電版、海獅 05、夏 L 等多款新車陸續登陸市場，業內普遍預判比亞迪 6 月全品牌銷量有望突破 40 萬輛。依托低端走量鎖份額、高端提利潤、海外衝增量、智能化提產品力的四維發展邏輯，在國內新能源淘汰賽加劇的當下，比亞迪全品類佈局優勢持續放大，坐穩國內新能源龍頭，加速向著全球頭部車企穩步邁進。

6 月 13 日，2026 重慶車展盛大開幕。長安馬自達以“依然馬自達”為主題，攜經典傳奇跑車 MX-5、全球戰略新能源車型 MAZDA EZ-6（以下稱 EZ-6）、MAZDA EZ-60（以下稱 EZ-60）以及 4 月上市的 EZ-60 馬年版亮相 N8 館展台，全面展現企業新能源轉型最新成果，並同步公佈一系列用戶共創活動。同時，長安馬自達推出 618 年中鉅惠，在至高 20,000 元國補和 17,000 元廠補基礎上，購指定車型可享價值 7,999 元專屬尊享套裝。

全球車實力背書 樹立新能源價值標杆

EZ-6 與 EZ-60 從產品開發之初即以全球標準打造。設計上，EZ-6 斬獲“2026 世界年度設計車”大獎，成為首個獲此殊榮中國新能源車型，EZ-60 更成為全球唯一同時斬獲 8 項世界頂級設計大獎 SUV。安全方面，兩款車型均嚴格按照中歐雙五星標準打造，EZ-6 拿下 C-NCAP、E-NCAP 等 5 項權威安全認證，EZ-60 電池安全提前滿足新國標及歐標，長安馬自達更向所有新能源用戶承諾“電池終身自燃包賠，不限里程、不限車主”。

操控方面，EZ-60 成功摘取中國新能源汽車拉力錦標賽場地賽 SUV 組冠軍、拉力賽總成績亞軍，驗證極致操控實力。車展現場，長安馬自達車主，同時亦是冠軍車手紀浩，分享咗佢駕駛原廠未改裝純電 EZ-60 征戰中國新能源汽車拉力錦標賽嘅心路歷程，喺 6 日 910 公里魔鬼賽程中，面對絕大多數增程/插混參賽車型競爭，憑藉 EZ-60 極致品質穩定性與“人馬一體”調校，從 27 個品牌 100 台參賽車中突圍，完成咗對 EZ-60 原廠量產車性能嘅極限驗證。

[長安馬自達車主、冠軍車手紀浩]

目前，長安馬自達已順利獲得歐盟、英國、澳洲三大市場整車認證，成為國內首個同時拿下這三項認證合資新能源車企。過硬全球品質贏得國際市場廣泛認可，5 月底，80 多位來自歐洲、澳洲、泰國海外經銷商專程考察南京工廠，對生產工藝與品控體系給予高度評價。目前，EZ-6 與 EZ-60 海外銷售及預售態勢持續向好，國內市場 EZ-60 已連續 7 個月蟬聯合資新能源中型 SUV 銷量冠軍。

長安馬自達汽車銷售分公司執行副總經理吳旭曦表示：“長安馬自達成為馬自達全球新能源整車設計、研發、製造基地同出口中心。我哋鄭重承諾，每一位馬自達新能源用戶擁有嘅都係一款真正全球車。”

[長安馬自達汽車銷售分公司執行副總經理 吳旭曦]

堅持“用戶+”思維 構建品牌與用戶價值共同體

中國市場 500 萬用戶係長安馬自達品牌發展同行者、價值共創者。2026 年，長安馬自達持續踐行“用戶+”思維，發起一系列用戶共創活動，構建起全維度、全生命週期用戶生態，讓“依然馬自達”承諾，不僅體現喺產品價值細節裡，更融入與每一位用戶情感共鳴中。對於參加長安馬自達一系列活動用戶同馬粉，將有機會參與 2026 粉絲盛典。

年初啟動“心願之旅”，以“用戶許願、品牌助力”雙向奔赴，讓長安馬自達真正走進用戶生活。每一個心願背後，都係用戶與馬自達之間獨一無二情感連結。累計推出 11 期“車主故事薈”，則成為馬粉精神展示窗口：入面有連續 7 年捐助貧困小學公益達人、連續 4 年組織車友會關愛特殊兒童愛心領隊，有因馬自達相識相知甜蜜情侶。呢啲真實鮮活故事，構成長安馬自達品牌最動人底色。

“悅馬創作家”同“全民經紀人”計劃，則為用戶搭建共創品牌價值平台。活動上線以來，湧現出大批用鏡頭記錄擁車生活、用口碑傳遞產品價值馬粉。“零零後”EZ-60 車主孫靖依分享自己作為“悅馬創作家”感受：“平時工作忙，但可以利用自己空餘時間分享用車感受。我係新手，第一次參加，但唔係車友定係長馬工作人員，都會唔遺餘力咁幫我，如果你係馬自達車主，喜歡分享、愛交朋友，歡迎加入悅馬創作家”。

[冠軍車手紀浩（左）/"悅馬創作家"孫靖依（右）分享自己擁車生活]

5 月正式啟動“青苗計劃”第二季，目前正陸續走進全國頂尖高校，同青年學子深度交流長安馬自達喺設計、駕控、安全、智能化等領域實踐成果。同步開啟 EZ-60 全國高校改裝設計大賽，唔單止為优秀作品提供創意成真機會，更向廣大青年學子開放暑期實踐同實習名額，進一步促進學以致用、產學融合。

社會責任踐行，同樣唔離開用戶共同參與。自 2015 年以來，長安馬自達已在雲南累計捐建 12 所希望小學，總投入超 1000 萬元，惠及上萬名師生。6 月，長安馬自達再次發起“每一公里都有善意”公益行動，將用戶每一次出行都轉化為公益基金，全部用於改善希望小學學習與生活條件，讓愛心喺車輪上傳遞。

618 年中鉅惠來襲 多重福利回饋用戶

借重慶車展契機，長安馬自達同步開啟“禦享夏日風情 悅享 618 大促”活動，即日起至 6 月 30 日，全系車型推出重磅購車禮遇：至高 17,000 元置換廠補同 20,000 元以舊換新國補，購指定車型贈價值 7,999 元尊享套裝（原廠充電樁 + 龍膜太陽膜+TPE 腳墊/後備箱墊），享 0 首付 5 年低息（年均費率 1.99%）及價值 7,999 元終身零燃權益。此外，所有到店試駕新能源車型用戶均可贈送國家級非遺金陵金箔，詳情諮詢授權經銷商。

“依然馬自達”從來都唔係一句口號，長安馬自達喺傳承百年品牌基因同時，始终把用戶需求放喺第一位。未來，長安馬自達將繼續以全球標準打造好每一款產品，用真誠連接每一位用戶，讓更多人感受到“人馬一體”駕駛樂趣。6 月 13 日 -21 日，歡迎廣大消費者蒞臨重慶國際博覽中心 N8 館長安馬自達展台，近距離感受全球車魅力。

6 月 6 日，212 越野車環塔拉力賽收官慶典落地青島，韓喬生、知名車手韓魏、廠商與民間車手、賽事後勤團隊齊聚現場，複盤剛剛落幕的 2026 環塔國際拉力賽。本屆賽事 7500 公里極限征途，212 車隊憑藉近乎原廠的 T01 量產車型，以 2.0T 動力直面一眾 3.0T 大排量競品，拿下 SS10 至 SS13 賽段兩冠一亞，斬獲 T2.1 量產組廠商隊亞軍，更是該組別唯一實現 100% 完賽的參賽廠商。從戈壁沙場的極限鏖戰到線下盛典的榮耀總結，老牌越野 IP 用一場實戰證明：經典越野不止留存情懷，原廠量產車同樣能站上國內頂級拉力賽事領獎台，普通人的環塔越野夢，正在落地生根。

環塔拉力賽素有「東方達喀爾」之稱，2026 屆賽事被圈內公認爲歷年難度頂峰，全程橫跨天山南北，沙漠、戈壁、雅丹、炮彈坑路況交織，超 60% 賽段爲流動沙漠地貌，部分賽段地表溫度突破 60℃，超長距離高溫、無人區連續奔襲讓不少老牌車隊接連折戟，單 SS3 超長賽段就出現三十餘台車輛爆胎、十餘台賽車無奈退賽的慘烈場面。T2.1 組別作爲原廠量產車正面對決的核心賽場，規則明確要求參賽車輛動力、底盤、變速箱等核心硬件與市售量產版保持一致，僅能加裝防滾架等安全配件，是衡量一款越野車原廠可靠性的「露天嚴苛試驗室」。在此背景下，3.0T 大排量車型常年佔據組別優勢，小排量 2.0T 車型想要突圍，在賽前被多數越野從業者視為幾乎不可能完成的任務。

誰也沒有料到，老牌國產越野 212 成爲本屆賽事最大黑馬。全程參賽的 T01 戰車無重度賽事改裝，原廠標準配備 2.0T 渦輪增壓引擎搭配採埃孚 8AT 變速箱，辅以博格華納大分動器，4L 模式扭矩可放大 2.64 倍。在戈壁陡坡攀爬、滿載拖曳等極限工況下，低扭輸出足以比肩大排量車型，長途穿越全程動力平穩，故障率被控制在極低水平。車身層面，非承重式車身 + 前後整體橋的經典硬派架構，搭配專項優化調校底盤，面對連綿顛簸與深坑衝擊，車身抗扭與形變控制表現亮眼；全車鍍鋅鋼板車身，從容抵禦戈壁碎石持續刮蹭腐蝕。安全配備上，強化後的乘員艙頂部承載力提升 16%，籠式車身結構搭配 540°全景影像、緊急救援呼叫系統，兼顧極限越野性能與日常駕駛安全，這套原廠硬件配置，在七千多公里惡劣路況中經受住了實打實的全場景驗證。

收官慶典現場，一眾環塔親歷者輪番分享賽場故事。從前期穩步卡位保存車況，到後半程魔鬼沙漠賽段驟然發力連斬賽段冠亞，車手們坦言，賽前沒人篤定 2.0T 原廠車能在「一眾」大排量對手中殺出重圍，車輛穩定耐用的底子，是車隊實現全員完賽的關鍵。知名賽事主持人韓喬生在現場點評：「212 是幾代國人的越野情懷符號，過去大家都只記得它的經典歷史，如今它用環塔成績刷新認知，國產硬派越野正在靠實打實的原廠品質打破刻板偏見。」冠軍車手韓魏也現場表態，T01 原廠機械素質超出行業預期，依托賽事數據打磨產品，是國產越野品牌穩步向上的可靠路線。

賽場成績落地民用市場，是本次慶典釋放的重磅信號。212 官方在活動中正式官宣，環塔同款越野改裝套件即將登陸品牌官方商城，套件包含底盤護甲、防脫輪轂、專業越野輪胎、全套脫困救援裝備。所有改裝配件均經過環塔 7500 公里極限路況實測，普通 212 車主無需大幅度改動車身，就能快速升級越野硬件，輕鬆實現從城市通勤到野外穿越的跨界切換。212 越野車營銷公司總經理何兆鵬在盛典受訪時表示：「212 的初衷從來不是只做賽場冠軍車，而是把越野文化大眾化，讓每一位普通車主心裡的越野種子，有落地發芽的機會。環塔賽場驗證產品，改裝套件普惠用戶，是品牌打通賽場與民用市場的關鍵一步。」

着眼未來賽事布局，212 已經敲定全球化越野賽事版圖：喀爾拉力賽、馬來西亞沙巴國際雨林賽、阿拉善 T3 挑戰賽以及 2027 年環塔拉力賽全部納入參賽規劃，持續踐行「以賽促研」產品研發思路。除此之外，品牌兩大重磅用戶扶持計劃同步啟動：2027 年環塔民間車手全國招募正式開啟，普通車主有機會以車手身份征戰頂級環塔賽場；攜手冠軍車手韓魏共建冠軍越野培訓學院，面向全國車主提供系統化越野教學、賽前集訓、賽事參賽全鏈條賦能。從職業廠隊征戰國際賽事，到培育民間越野愛好者，212 正在搭建一條從產品、賽事到用戶培養的完整全民越野生態鏈。

縱觀國內硬派越野市場，不少品牌陷入「賽場重度改裝拿成績，市售車型與賽車脫節」的怪圈，而 212 選擇反其道而行，堅持原廠量產車參賽，用環塔極端路況反向優化量產車型，再把賽場沉澱的越野技術下放給普通消費者。六十餘年品牌積澱，212 早已跳出單一情懷營銷的老路，環塔 7500 公里黃沙試煉，是經典國產越野的一次自我革新。當改裝套件走進商城、民間車手能直通環塔賽場，「每一輛 212 都有一個環塔夢」不再是一句宣傳口號，而是落地可觸的現實。

未來，隨着多場國內外頂級賽事接連落地與越野培訓學院常態化運營，212 還將持續把賽場技術轉化為民用產品實力，讓國產硬派越野不止馳騁戈壁環塔，更能陪伴萬千車主奔赴山野遠方。

你睇過印度嘅馬路嗎？

我喺網上見過。

畫面通常係咁，一輛轎車俾牛尾擋住，旁邊仲有亂竄嘅摩托，甚至周圍仲有賣奶茶嘅小夥，嗰叫一個“乾淨又衛生”。

然而，喺呢啲睇完好多人覺得生理不適嘅地方，豐田、鈴木、本田等日本車廠，卻決定將籌碼押落印度。

據印度“品牌質量基金會”網站顯示，三家車廠將喺印度投資近110 億美元建廠、提產能、搞出口。

對此有网友表示，三家日本車廠係咪錢多到無處花？

事實上，佢哋唔係錢多到花唔完，亦唔係被印度嘅咖哩蒙蔽咗心竅，呢啲日本車廠高層遠比我哋清醒。

而家嘅日系車，營業額、市場份額都喺下滑，原材料成本仲係升得飛起，打開世界地圖，搵一個能夠容納產能、拓充份額、競爭溫和嘅市場，唔係咁容易嘅事。

所以，唔係日本車廠選擇咗印度，而係因為冇得揀。

日本車廠之痛

曾經嘅日系車，嗰時妥妥係人哋個仔。

你問下十幾年前開過日系車嘅老司機，一提起日系車，幾乎就冇唔豎大拇指嘅，價錢平、省油、耐用又抵撞……

甚至好多日系車，仲要加價購買，但邊個諗到，呢個鐵打嘅江山，短短幾年時間就俾佢哋打得找唔著北。

隨著新能源汽車浪潮嚟到，電動化、智能化變成好多自主車廠“彎道超車”嘅目標，依托於中國強大嘅新能源汽車產業鏈優勢同車廠自身對研發、技術嘅堅持，中國自主品牌迅速實現咗“彎道超車”。

曾經被人吐槽嘅國產車，而家喺馬路越來越多人，甚至份額超越咗合資。

根據乘聯會嘅數據，喺2026 年4 月，自主品牌嘅份額已經高達62.5%，遠超日系嘅13.1%。

要知道，中國汽車市場係全球最大嘅汽車市場，喺中國市場失速，就相當於丟咗一塊巨大嘅蛋糕。

同時，中國市場近年嚟嘅主旋律依舊係價格戰，捲配置、捲價格、捲服務已經成為一種常態，亦對日系車嘅利潤產生咗巨大嘅影響。

除咗中國，日系車喺美國過得亦唔太好。

2025 年 1 月 20 日，特朗普宣誓就職第 47 任美國總統，自此開啟咗一連串搞搞震，其中就包括以國家安全為理由徵收額外嘅汽車關稅，導致進口日本汽車嘅關稅稅率一度高達 27.5%，雖然後嚟有所降低，但亦遠高於最初嘅稅率。

呢個操作，直接導致七大日本車廠喺2025 財政年度嘅關稅損失超2 萬億日元。

再睇日本本土，其實亦唔容易。

中東地緣衝突導致霍爾木茲海峽航運受阻，運輸成本、原材料成本暴漲，日本車廠都有苦難言。

高管們看著報表，背後發涼，只能尋找全新嘅增長曲線。

所以，日本車廠唔係愛上印度，係冇地方去。

揀選印度嘅深思熟慮

咁，印度點解咁有魔力，先至令日本車廠重資投入呢？

第一個優勢就係大。喺2025 年，印度汽車市場取得咗551.7 萬輛嘅新車銷量，同比增長 6%，刷新咗歷史紀錄，位居全球第三大汽車市場，已经连续四年超越日本，僅次於中國同美國。

呢個含金量唔使多講啦，而印度取得呢一成績，主要係因為印度一直喺推動減稅政策，促進消費，這導致國內消費意願出現咗明顯增強。

第二個優點係近，就係離日系車賣得動嘅地方近，如非洲等其他地區。

所以，印度對於日本車廠，更似一個建喺十字路口中央嘅便利店，你唔使將車分別運去八個國家，只需要喺印度呢站造好，然後一船一船甩去，就能削減唔少成本。

《日本經濟新聞》亦認為，印度有望轉變為佢哋全球嘅汽車供應中心。

第三個優點係穩。要知道，日系車嘅優勢就係燃油車，畢竟引擎、變速箱、底盤三大件，佢哋已經玩咗好多年，技術積累喺全球都係數一數二。

但係中國汽車市場已經全力推動電動化、智能化發展，導致日系車嘅優勢越來越弱，根本無法發揮出嚟，但印度唔一樣，佢擁有充電樁少、電動化進程緩慢嘅特點，印度老百姓買車，都仲係盯住平、省油、易修，而呢三點正係日系車嘅老本行。

尤其係鈴木，一直係印度汽車市場嘅常青樹，幾乎年年穩坐暢銷車型寶座，口碑好，勝過任何廣告。

所以，日本車廠大力佈局印度市場，顯然是經過深思熟慮嘅。

但，印度市場真係咁好混咩？

難啃嘅印度市場

當然，印度亦唔係完美得似個香口格，佢嘅缺點同佢嘅優點一樣明顯，而且每一個都夠日本車廠喝一壺。

先講電動化，冇錯，眼睇下印度充電樁少、電動車賣唔動，確實係日系燃油車嘅避風港。但你得諗諗，呢個“避風港”能避幾耐？

印度此前可係喊出咗 2030 年電動車佔新車 30% 嘅口號，雖然聽落似吹水，但抵唔住人哋真補錢、真建充電站。

試諗下，萬一有日印度突然開竅，開始大力推動電動化、搞基建，充電樁似雨後春筍咁冒出來，嗰日系車唔就傻眼？

呢唔係泰國市場嘅翻版咩？

當年日系車喺泰國都係躺贏，整個東南亞市場，都被稱為日系車嘅後花園，結果泰國率先推動電動化，中國電動車一嚟，直接就成咗香口格，再睇日系車，喺泰國嘅市場份額嘩嘩嚟咗落。

如果印度係電動化一加速，歷史大概率會重演，而而家呢次，日系車連逃嘅地方都快冇咗，點樣預防，將成為日本車廠嘅首要問題。

再講政策，印度嘅政策就似一鍋咖哩，你永遠唔知下一口食到係雞肉定係馬鈴薯。

呢個魔幻嘅國家，今日係低關稅鼓勵建廠，明日就可能罰你一筆巨款，更令人頭痛嘅係強制合資，外國車廠想喺印度賣車，要搵本地夥伴搭檔，等你工廠建好咗、供應鏈搭完咗，印度直接背刺你，到嗰陣無論係加錢定撤資，換嚟嘅都係心痛。

所以你看，印度呢個市場，就好似一個睇落好甜嘅芒果，咬落去第一口仲行，再啃幾口就摸著硬核。

日系車而家嘅算盤係，趁住核都未硌牙，趕緊多啃幾口，但核遲早會硌到，只係唔知係邊一日。

尾聲

日系車呢趟印度之旅，唔係去旅遊，係去搵食。

中國同東南亞嘅飯桌更擁擠，生產、運輸嘅成本又提高咗，放眼全球，就印度呢口鍋仲冒住熱氣，哪怕入面煮嘅係咖哩味嘅石頭，都要硬著頭皮啃落去。

日本車廠想擴大市場，印度想嘅係拉動經濟、解決就業，雙方都有各自嘅心思。

至於結局係日系車喺印度重新封神，定係好似當年嘅部分友商一樣灰溜溜走人，那就唔知啦。

但無論點樣，呢場戲先至開始，我哋慢慢睇就得啦。

反正印度嘅故事，從來唔會悶。

In May, China's automotive market overall presented a gentle recovery trend, with domestic brands still being the sales backbone of the market. Recently, BYD, Geely, Chery, Changan, and Great Wall, the top 5 domestic automakers, successively released their monthly performance reports. From the data, these five companies show a general characteristic of "stable total growth, divergence between domestic and international markets, and accelerated new energy penetration". Overseas exports and new energy vehicles have become the most core growth engines; export business has evolved from a "bonus item" to the "core foundation" for some companies. BYD's "dominant leader" status is further consolidated, Chery achieved high growth via exports, Geely's new energy penetration rate broke 56%, Changan focused steadily on balanced development, while Great Wall appeared slightly under pressure during structural transformation.

BYD: Export Hits New High Becomes Biggest Highlight

In May, BYD stood firmly at the top of domestic brands with a monthly sales volume of 383,500 vehicles, maintaining positive growth both year-on-year and month-over-month under a large base. Its two main brands, Dynasty and Ocean, sold a combined 330,200 vehicles, contributing 86.1% of total sales; Fangchengbao's monthly sales broke 30,000 units to reach 30,200, a year-on-year increase of 139.7%, setting a new high for the year; Denza sold 16,300 vehicles, and Yangwang delivered 286 vehicles. From a model perspective, BYD had eight models in May with monthly sales exceeding 20,000 vehicles. The Song Family and Yuan Family both broke 50,000 units, selling 51,370 and 56,691 vehicles respectively. The Sea Lion Family followed closely with 42,615 vehicles, and Seagull sales were also close to 40,000 vehicles.

BYD's biggest highlight in May was exports. Overseas new energy vehicle sales reached 160,600 units, an 80.4% year-on-year increase, accounting for about 42%. The sharp expansion of export scale effectively countered the phased weakness in domestic demand. Cumulative exports from January to May exceeded 620,000 vehicles. High export growth mainly benefited from continued ramping up of overseas factory capacity, improved ocean shipping capacity, and accelerated channel network expansion. In the domestic market, BYD promoted Megawatt Super Charging and intelligent strategies simultaneously—Megawatt charging achieved about 90% charge in 9 minutes; 20,000 super charging stations are planned to be built by 2026; all series models are available with Sky Eye B intelligent driving solutions and city navigation safety fallback plans, accelerating the popularization of high-level intelligent driving. As Gen 2 Blade Battery capacity gradually releases, the company's orders are expected to continue rising.

Chery: Sales Growth Leads the Top 5

Chery Group's total sales volume in May was 247,800 vehicles, a significant year-on-year increase of 20.5%, ranking first in growth speed among the top 5. Exports remained its most core growth engine—May exports reached 181,900 vehicles, an 80.5% year-on-year increase, accounting for 73.4% of total sales that month, continuously breaking the single-month export record for Chinese brands for three months. In terms of new energy, Chery New Energy sold 100,300 vehicles, a 58.8% year-on-year increase. April and May consecutively saw monthly new energy sales breaking 100,000 vehicles.

The strong performance in exports benefited from Chery's long-term deep cultivation of overseas channel advantages and localized operation capabilities. While overseas orders continued to rise, high export growth formed a sharp contrast with domestic sales—Chery's domestic sales in May were only 60,000 vehicles, accounting for one-quarter of total sales. From cumulative data, Chery Group accumulated 1.101 million sales from January to May, but against the annual goal of 3.2 million vehicles, monthly averages need to reach about 420,000 vehicles later, and pressure remains significant.

Geely: New Energy Penetration Rate Breaks 56%

Geely Auto's total sales volume in May was 237,600 vehicles, a 1% year-on-year increase, achieving month-over-month double growth for three consecutive months. In terms of structure, Geely's "New Four Transformations" transformation showed significant results: new energy vehicle sales reached 133,400 units, accounting for 56% of total sales, with new energy share exceeding 50% for four consecutive months.

From sub-brands, performance was significantly divergent. Zeekr brand sales in May reached 34,400 vehicles, a 82% year-on-year increase; Zeekr 9 Series and 8 Series models combined sales approached 50% of total sales, showing bright performance in the high-end market; Galaxy brand sales were 81,700 vehicles; Geely brand sales were 182,500 vehicles, among which China Star Series sales reached 100,800 vehicles; Lynk & Co brand sales were 20,700 vehicles, with new energy vehicle sales share rising to 71%.

In terms of exports, Geely's overseas vehicle exports in May reached 85,100 vehicles, a explosive 184% year-on-year increase, setting a brand single-month export record high. Among exported products, new energy vehicles reached 40,800 units, accounting for nearly half; hybrid and pure electric products have successively landed in Southeast Asia, Middle East, Latin America, and other markets, highlighting the results of global strategy implementation.

Changan: Multi-brand Matrix Balanced Effort

Changan Auto's delivery volume in May was 209,100 vehicles, among which new energy deliveries were 92,400 vehicles, a 5.8% year-on-year increase, with new energy share about 44%. In terms of exports, overseas deliveries reached 70,700 vehicles, a 38% year-on-year increase, becoming another major growth highlight for Changan in May.

In the sub-brand matrix, Changan Qiyuan delivered 34,500 vehicles in May; All-New Q05 delivered 15,800 units, with orders breaking 3,000 units within three days of listing in Thailand; Deepal sales in May were 33,200 vehicles, a 30% year-on-year increase; January to May overseas cumulative sales were 28,700 vehicles, a significant 167% year-on-year increase; Avatr delivered 7,336 vehicles in May; Changan Auto (Gravity) delivered nearly 49,000 vehicles in May.

Changan Auto's balanced layout was fully reflected in May: the fuel car base remained stable, new energy brands Deepal and Qiyuan accelerated volume growth, high-end brand Avatr continued to break through in technical cooperation, and overseas markets simultaneously achieved breakthrough growth. The pattern of five brands working together, driven by both new energy and exports, is initially taking shape.

Great Wall: Overseas Sales Growth Year-on-Year 46.75%

Great Wall Motor's sales in May were 100,400 vehicles, slightly down compared to last May's 102,200 vehicles, making it the only company among the top 5 to show a year-on-year negative growth. From sub-brands, Haval brand sales in May were 55,500 vehicles, remaining Great Wall's most important sales pillar; Tank brand sales were 17,100 vehicles; both Haval and Tank brand sales showed year-on-year declines; Wey brand sold 8,119 vehicles, a 31.78% year-on-year increase, achieving growth against the trend; Ora brand performance was most stunning, with sales of 6,018 vehicles, a significant 206.88% year-on-year increase. In terms of new energy, Great Wall sold 30,400 new energy vehicles in May, with new energy vehicle transformation gradually accelerating.

The overseas market became Great Wall's biggest highlight in May, with overseas sales growing 46.75% year-on-year. Against the background of pressure on the domestic market, strong growth in overseas business effectively made up for the decline in the domestic market. Great Wall Motor's current core contradiction lies in: Haval and Tank, the two traditional main-selling brands, face weak growth, while Wey and Ora brands, although growing notably, have relatively small volume and are not yet enough to support overall growth. How to complete the "relay" between old and new brands is the key issue Great Wall must solve subsequently.

Final Thoughts

From May data, the growth pattern of the top 5 domestic brands has clearly diverged, but there are three common trends worth noting: First, exports have become a key engine for domestic brands to seek stability and growth. Second, new energy transformation is still accelerating, but paths differ among enterprises. Third, technological innovation continues to deepen brand moats. Looking ahead to the second half of the year, competition in the automotive industry will continue to upgrade around these three trends. Although everyone has a common direction, these three trends are all competing for the entire enterprise's industrial chain strength, and the strong will remain strong, which has almost become an inevitable outcome.

Folks, today let's talk about big news on going global—not selling cars, but selling "drivers". On June 2, WeRide and Uber jointly announced a plan: to launch the country's first commercial Robotaxi pilot service in Madrid, Spain. In other words: Spanish residents will soon be able to hail a driverless taxi via Uber. This is the first time WeRide and Uber are partnering to enter the European market. Madrid also becomes the 12th city globally where WeRide's Robotaxi arrives.

According to official news, with the support of the Madrid regional government, this service will officially launch within this year. At that time, friends in Madrid can open the Uber App and call WeRide's Robotaxi with one click. It's just like calling an ordinary ride-hailing service, the difference is the arriving car has no driver—at least initially, there is still a difference. In the initial operation phase, a professionally trained safety monitor will be on board, as it's just launched, safety comes first.

This company, WeRide, you might have heard of it, or you might not. A brief introduction: Established in 2017, it has been dedicated to Robotaxi technology R&D and commercialization. Currently, its Robotaxis cover Guangzhou, Beijing, Singapore, Abu Dhabi, Dubai, Riyadh, Zurich... plus Madrid now, totaling 12 cities. Spain is also the 5th European market WeRide has entered—previously entered Switzerland, France, Belgium, Slovakia. According to the plan agreed by WeRide and Uber in May 2025, they plan to deploy Robotaxi services in 15 new international cities within five years, deploying tens of thousands of Robotaxis globally. With the Madrid launch, the deployment in 4 cities has been completed, and 11 more will be covered successively before 2030.

To be honest, it's not the first time Chinese autonomous driving companies are going global, but the combination of Chinese technology + global mobility platform + European market is quite interesting. Madrid is one of the European Robotaxi markets with the most commercial potential, with a large population, high travel demand, and friendly local policies. Being able to take root in this market is a significant milestone for WeRide. For Uber, introducing Robotaxis is also a way to reduce costs—after all, drivers don't need salaries. For Madrid residents, hailing a taxi might be cheaper in the future.

       阿維塔科技在品牌成立五週年的重要里程碑上，正迎來發展勢能的全面迸發。隨著產品矩陣不斷完善、海外佈局加速落地，全球化進程邁入新階段。一系列紮實的標誌着阿維塔已進入品牌力、產品力與市場競爭力協同提升的高質量發展新週期，為市場與用戶注入強勁信心。

       成立五年以來，阿維塔已陸續推出 11、12、06/06T、07 等多款車型，覆蓋 20 萬至 70 萬元價格區間，累計銷量突破 25 萬輛，在高端智能電動車市場站穩腳跟。與此同時，產品矩陣仍在加速擴容——今年下半年，阿維塔 07L 及全新大六座旗艦 SUV 將陸續推出，後者將行業首搭寧德時代凝聚態電池，進一步拉升產品天花板。按照規劃，到 2030 年阿維塔將完成 17 款產品佈局，全面覆蓋 SUV、轎車、MPV 等細分市場。與產品線同步提速的，是全球化佈局。自 2024 年出海以來，阿維塔已進入全球 40 多個國家和地區，穩居泰國高端電動車銷量榜首，並斬獲阿聯酋高端電動車 10% 市場份額，全球化佈局初具規模。今年，阿維塔將正式進入歐洲市場，進一步加速全球高端市場滲透，計劃至 2030 年覆蓋超 110 個國家和地區，海外銷量佔比達到 40%。

       阿維塔快速成長的背後，是長安汽車戰略賦能的持續加碼。作為長安高端化戰略的核心載體，阿維塔承載著向上突破、打造全球化高端品牌的使命。今年 4 月，長安汽車宣布阿維塔與深藍汽車開啟戰略協同，遵循「前端獨立、中後端協同、品牌獨立運營」原則，進一步抬升阿維塔的戰略權重。作為品牌群的「旗艦與標杆」，阿維塔在品牌經營、渠道運營、用戶服務三大體系保持不變的前提下，高端定位愈發穩固，展現出愈發強勁的發展勢能。協同落地後，集團全域資源將持續向阿維塔傾斜，效率與體系能力進一步放大，為品牌長期發展提供堅實後盾。

       值得注意的是，阿維塔背靠長安、華為、寧德時代「三巨頭」的獨特優勢仍在深化，構建起難以複製的技術與資源壁壘。基於長安百年製造底蘊，阿維塔自研崑崙智慧增程、太行智控底盤兩大核心技術，迭代推出的太行智控底盤 2.0 以行業領先的分佈式電驅技術，實現安全與操控雙重進階。作為華為與寧德時代的「技術股東」，阿維塔不僅享有最新技術的優先搭載權，更攜手夥伴從源頭定義每一項新技術。同時，阿維塔是華為引望最大外部股東，雙方以資本為紐帶形成利益共同體，持續共享發展紅利；寧德時代作為阿維塔第二大股東，始終將神行、驍遙、凝聚態等前沿電池技術優先搭載於阿維塔車型，確保產品力穩居行業前列。

       阿維塔憑藉更清晰的戰略佈局、加速落地的核心技術以及堅定的全球化步伐，持續印證其長期主義的發展路徑。作為長安汽車打造的核心戰略資產，阿維塔將繼續堅持「原創、智能、新豪華」的可持續增長道路，不斷夯實核心競爭力，為市場釋放長期價值。

Folks, today let's talk about big news on going global—not selling cars, but selling "drivers". On June 2, WeRide and Uber jointly announced a plan: to launch the country's first commercial Robotaxi pilot service in Madrid, Spain. In other words: Spanish residents will soon be able to hail a driverless taxi via Uber. This is the first time WeRide and Uber are partnering to enter the European market. Madrid also becomes the 12th city globally where WeRide's Robotaxi arrives.

According to official news, with the support of the Madrid regional government, this service will officially launch within this year. At that time, friends in Madrid can open the Uber App and call WeRide's Robotaxi with one click. It's just like calling an ordinary ride-hailing service, the difference is the arriving car has no driver—at least initially, there is still a difference. In the initial operation phase, a professionally trained safety monitor will be on board, as it's just launched, safety comes first.

This company, WeRide, you might have heard of it, or you might not. A brief introduction: Established in 2017, it has been dedicated to Robotaxi technology R&D and commercialization. Currently, its Robotaxis cover Guangzhou, Beijing, Singapore, Abu Dhabi, Dubai, Riyadh, Zurich... plus Madrid now, totaling 12 cities. Spain is also the 5th European market WeRide has entered—previously entered Switzerland, France, Belgium, Slovakia. According to the plan agreed by WeRide and Uber in May 2025, they plan to deploy Robotaxi services in 15 new international cities within five years, deploying tens of thousands of Robotaxis globally. With the Madrid launch, the deployment in 4 cities has been completed, and 11 more will be covered successively before 2030.

To be honest, it's not the first time Chinese autonomous driving companies are going global, but the combination of Chinese technology + global mobility platform + European market is quite interesting. Madrid is one of the European Robotaxi markets with the most commercial potential, with a large population, high travel demand, and friendly local policies. Being able to take root in this market is a significant milestone for WeRide. For Uber, introducing Robotaxis is also a way to reduce costs—after all, drivers don't need salaries. For Madrid residents, hailing a taxi might be cheaper in the future.

比亞迪正式發布 2026 年 5 月產銷快報，全品牌新能源汽車單月銷量 383453 輛，同比微增 0.26%，時隔十個月實現單月銷量同比轉正；其中乘用車交付 376990 輛，環比大漲 19.4%，一掃前期車型換代陣痛，呈現國內基本盤穩固、海外銷量狂飆、高端品牌全線放量的全新格局，在國內新能源內捲加劇、特斯拉 FSD 入華、自主新品密集上市的市場環境中，走出獨有的結構性增長路線。

八大車型月銷破兩萬 宋元雙車站穩 5 萬

王朝 + 海洋兩大主力品牌 5 月合計售出 330215 輛，佔據集團總銷量超八成，仍是比亞迪銷量壓艙石，全系列共 8 款車型單月銷量突破 2 萬台，產品從 5 萬入門代步到 20 萬家用 SUV 實現全覆蓋。

王朝網內部，元家族 56691 輛、宋家族 51370 輛。雙雙跨過五萬門檻，成為品牌兩大銷量支柱，兼顧家用代步與城鄉出行需求；秦家族緊隨其後交出 28360 台穩定表現，漢、唐系列月銷維持六千級體量，深耕中大型家用轎車、SUV 細分市場；全新車型夏處於市場培育期，單月交付 1810 台，後續隨渠道鋪開有望穩步上量。

海洋網增長勢頭更為迅猛，全系五款車型跨入兩萬俱樂部：海獅 42615 台、海豹 34117 台、海鷗 39919 台、海豚 22260 台、宋 PLUS 27755 台。其中海鷗憑藉 6-8 萬親民定價穩居入門代步銷冠，海獅作為全新走量車型上市即站穩四萬量級，補齊海洋網中型 SUV 產品空白，完善海洋產品梯隊佈局。從代步小車到緊湊 SUV，兩大主品牌依托 DM-i 混動與純電雙線技術，牢牢鎖住 15 萬以內國內主流家用市場份額。

方程豹同比暴漲 139.7% 品牌向上落地見效

騰勢、方程豹、仰望組成的高端矩陣 5 月合計銷售 46489 輛，正式擺脫小眾定位，成為比亞迪品牌溢價與利潤增長新支點，打破自主品牌高端化難破局的行業魔咒。

越野品牌方程豹單月 30186 輛，同比暴漲 139.7%，創下品牌上市以來月度銷量新高，旗下鎦 7 單月 18280 台，豹 5、豹 8 穩定輸出，在 25-40 萬硬派越野細分市場持續擠壓合資、進口車型生存空間。

騰勢 5 月交付 16303 台，MPV 標桿 D9 售出 6721 台，Z9 系列近 6000 台，MPV、中大型轎車雙線發力，站穩豪華新能源賽道；百萬元級超豪華品牌仰望穩步爬坡，當月交付 286 台，同比增幅 105.8%，完成自主品牌天花板產品的市場驗證，形成從十幾萬家用、三四十萬越野、五十萬豪華 MPV 到百萬元級旗艦的全價格帶產品佈局。

海外爆發：單月 16.06 萬輛，佔總銷量超四成 成第二增長曲線

5 月比亞迪乘用車和皮卡海外銷量 160177 輛，同比大漲 80.7%，出口佔全系總銷量突破 42%，創下品牌出海歷史新高，成為穩住 5 月整體銷量、實現同比轉正的核心驅動力。

東南亞、歐洲、拉美成為主力增量市場，海鷗、宋 PLUS、元系列持續登頂多國新能源熱銷榜單，SHARK 皮卡連續兩月單月出口突破 4000 台；依托泰國、巴西、匈牙利、烏茲別克斯坦四大海外整車工廠落地投產，本地化生產持續落地，規避關稅同時快速下沉終端渠道。在國內車市存量競爭、價格戰常態化背景下，高速擴容的海外市場有效對沖國內車型換代帶來的銷量波動，正式從補充市場升級為比亞迪核心增長引擎。截至當前，比亞迪新能源汽車全球累計銷量已經突破 1650 萬輛，全球化版圖持續拓寬。

智駕賦能產品迭代 下半年新品蓄力衝量

5 月比亞迪智能化落地迎來關鍵節點，天神之眼智駕系統成為車型核心加分項：全品牌搭載高級智駕車型保有量突破 315 萬輛，日均路測數據超 2 億公里；當月比亞迪落地城市領航、智能泊車雙安全兜底服務，成為全球首家實現兩項智駕兜底的車企，政策落地三天後，搭載天神之眼系統車型的城市 NOA 激活率暴漲 50%，智能化體驗升級直接拉動終端到店訂單轉化，為後續車型持續走量築牢產品競爭力，直面 FSD 入華帶來的智駕市場衝擊。

從數據細節來看，2026 年 1-5 月比亞迪累計銷量 1405039 輛，同比下滑 20.32%，核心誘因是全系主力車型集中換代、第二代閃充刀片電池產能爬坡受限。新款閃充電池升級快充與低溫性能，全系換代車型優先換裝新電池，但產線改造拖累產能釋放，熱門車型訂單積壓、交付延後，一定程度壓縮 5 月交付體量。

隨著二季度末二代刀片電池產能持續釋放，疊加騰勢 N8L、方程豹鎦 7 純電版、海獅 05、夏 L 等多款新車陸續登陸市場，業內普遍預判比亞迪 6 月全品牌銷量有望突破 40 萬輛。依托低端走量鎖份額、高端提利潤、海外衝增量、智能化提產品力的四維發展邏輯，在國內新能源淘汰賽加劇的當下，比亞迪全品類佈局優勢持續放大，坐穩國內新能源龍頭，加速向著全球頭部車企穩步邁進。