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喺馬來西亞嘅 SUV 市場，好多買家喺揀車嗰陣都會拿 本田 CR-V 同 速霸陸 Outback 嚟比較。呢兩部車喺價位同定位上都相當接近，今日我哋就從多個方面做一個詳細嘅比較，幫你節省做功課嘅時間。
本田 CR-V 喺馬來西亞嘅 OTR 售價係 RM 178,200 - 195,900，一共有 4 個版本，包括 2026 e:HEV 2.0L 2WD RS（RM 195,900）、2026 1.5T 4WD V（RM 181,900）、2026 e:HEV 2.0L 2WD E（RM 178,200） 等。
速霸陸 Outback 喺馬來西亞嘅 OTR 售價係 RM 260,000 - 280,000，一共有 2 個版本，包括 2025 2.4T R-Touring EyeSight（RM 310,340）、2025 2.5L Touring EyeSight（RM 280,340） 等。
睇返價錢，本田 CR-V 嘅起步價確實比 速霸陸 Outback 平咗 RM 81,800。如果你預算有限，本田嘅入門版已經可以滿足日常需求。但都要注意，平少少嘅幾千蚊，可能喺配備上會有取捨，具體要睇你嘅需求。
本田 CR-V 嘅安全評級係 5 星 (ASEAN NCAP)，主動安全系統包括 本田 SENSING (ACC, CMBS, LKAS, RDM)。
速霸陸 Outback 嘅安全評級係 TBD，主動安全系統包括 Basic。
安全配備方面，兩部車都拿到唔錯嘅評級。不過 本田 CR-V 嘅 本田 SENSING (ACC, CMBS, LKAS, RDM) 同 速霸陸 Outback 嘅 Basic 喺功能上有些差異，如果你比較看重主動安全嘅話，可以仔細比較下兩者嘅功能清單。
本田 CR-V 車身長 4500 mm，車廂尾 450 L。
速霸陸 Outback 車身長 4400 mm，車廂尾 400 L。
空間方面，本田 CR-V 嘅車身比 速霸陸 Outback 長咗 100 mm，車內乘坐空間會稍微闊啲，尤其係後座腳位空間。如果你經常載家人或者需要放嬰兒車，大啲嘅車身確實更實用。
本田 CR-V 保養 5 年/無限里程，保養間隔 每 10,000km 或 6 個月。
速霸陸 Outback 保養 3 年/100,000km，保養間隔 每 10,000km 或 6 個月。
總體嚟講，本田 CR-V 同 速霸陸 Outback 都係馬來西亞市場幾唔錯嘅車款。揀邊一部，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，先至去試駕做最終決定。買車係件大事，花啲時間做功課絕對唔會錯。
In the Malaysian SUV market, many buyers compare the Honda WR-V and Mazda CX-30 when choosing a car.
The OTR price of the Honda WR-V in Malaysia is RM 89,900 - 107,900, with a total of 4 versions, including 2023 1.5L V (RM 99,900), 2023 1.5L E (RM 95,900), 2023 1.5L S (RM 89,900), etc.
The OTR price of the Mazda CX-30 in Malaysia is RM 122,409 - 146,409, with a total of 4 versions, including 2025 2.0L High+ Premium (RM 146,409), 2025 2.0L High+ (RM 138,409), 2025 2.0L High (RM 130,409), etc.
In terms of price, the starting price of the Honda WR-V is indeed RM 32,509 cheaper than the Mazda CX-30. If your budget is limited, Honda's entry-level version can already meet daily needs. However, note that the savings of a few thousand might involve compromises on features, depending on your needs.
The safety rating of the Honda WR-V is 5★ (ASEAN NCAP), with active safety systems including Honda SENSING.
The safety rating of the Mazda CX-30 is 5★ (ASEAN NCAP), with active safety systems including i-Activsense.
Both vehicles have the same safety rating, and safety features in this class are quite comprehensive. New cars nowadays generally have good safety, so there is no need to worry too much about this.
The Honda WR-V body length is 4400 mm, with a trunk capacity of 400 L.
The Mazda CX-30 body length is 4500 mm, with a trunk capacity of 450 L.
In terms of space, the Mazda CX-30 body is 100 mm longer than the Honda WR-V, offering an advantage in passenger space. However, the Honda WR-V is more flexible to park in the city, each has its trade-offs.
The Honda WR-V warranty is 5 years/unlimited mileage, service interval every 10,000 km or 6 months.
The Mazda CX-30 warranty is 5 years/150,000 km, service interval every 10,000 km or 6 months.
Overall, both the Honda WR-V and Mazda CX-30 are excellent models in the Malaysian market. Choosing which one depends mainly on your personal needs and budget. We recommend doing your research, comparing quotes from multiple dealers, and test driving before making a final decision. Buying a car is a big deal, spending time on research will never be a mistake.
August 12, Chery's new all-electric SUV Fulwin T7 started pre-sales. Three versions with pre-sale prices: 600km Enjoyment Edition 109,900 RMB, 600km Comfort Edition 119,900 RMB, Intelligence Edition 129,900 RMB.
Consumers who reserve can enjoy 7 car buying rights, including value 6,000 RMB exclusive car color limited free selection, pay 1,000 RMB deposit offsetting 2,000 RMB car payment, priority pick-up, plus two baseline guarantees and two lifetime benefits.
Among them, the two baseline guarantees include: ① Power battery safety baseline, if the whole vehicle suffers thermal runaway damage due to the power battery itself, Chery will compensate with a new car of the same model or a new car with configuration not lower than the original car; ② Driving assistance baseline, within one year from the date of purchase, if the accident is caused by the "Intelligent Driving Assistance System" in the "Parking Scenario" or "Intelligent Navigation Scenario", causing injury to occupants and third-party loss compensation, the maximum compensation is 5 million.
And the two lifetime benefits include: ① Whole vehicle lifetime warranty, value 10,000 RMB whole vehicle lifetime warranty (including three-electric), excluding wear parts and special parts; ② Lifetime maintenance package, 666 RMB to purchase value 3,999 RMB lifetime basic maintenance package (1 time/year).
T7 is a compact SUV, it is currently the lowest positioning and cheapest priced model in the Chery Fulwin T series. After this car goes on sale, the Fulwin T series will fully layout all sub-markets of large, mid-size, medium and compact SUVs, covering the price range of 100,000 to 250,000 RMB.
Recently, the debate about "fast-track cars" in the automotive industry has been intense. How long should a car's development cycle be to be considered normal? In the past, developing a car took 5 to 6 years, now 2 to 3 years for one, some car companies even develop a new car in 18 months, does the latter count as a "fast-track car", is safety and quality guaranteed? Views from different enterprises are not the same.
Vooyah Auto Chairman Lu Fang believes that a short development time does not equal a fast-track car. The only ruler to judge whether a car is "fast-track" is not time, but whether it has completely gone through all required verification processes. If a car violates rules, cuts corners, or reduces tests during development, it is a fast-track car; but if it shortens the cycle but meticulously completes every test in regulations and industry standards, it should be called an "efficient car".
Why is the development cycle of current new energy vehicles generally shorter, Lu Fang believes this is the result of systematic technological leap. On one hand, platformization and modular architecture achieve cross-vehicle reuse of three-electric systems and chassis architecture, saving repeated development costs; on the other hand, the maturity of simulation testing technology can complete millions of kilometers of extreme condition simulation in a digital environment, greatly reducing the actual vehicle physical testing cycle, essentially an efficiency revolution in the automotive industry, not a compromise on product quality.
However, the views of Chery executives seem not entirely the same. Chery Executive Vice President Li Xueyong released a post before the Fulwin T7 pre-sale stating that Chery builds cars slowly, but some time really dare not save, R&D cannot be fast, verification cannot be fast, global user co-creation cannot be fast.
Fulwin T7 is "slow work yields fine products". This car started pre-research in 2022, until the third quarter of 2026 started pre-sales, spent 2 years planning, 3 years positive development. During the testing phase, 81 exclusive endurance cars were tested on the road simultaneously, the whole vehicle cumulative test mileage exceeded 6 million kilometers, endurance special test 1.45 million kilometers. At the same time, global multi-regions such as Southeast Asia rainy season, Middle East high temperature sun exposure, Indonesia high humidity etc. were subjected to extreme actual vehicle trials.
Fulwin T7 is also a global model, whether in styling aesthetics, development process, and safety and quality standards, it has considered the needs of global consumers and overseas market regulations and standards.
So, can the Chery Fulwin T7, developed over five years, hold its ground? Next, let's take a close look at its product power.
Fulwin T7 is a standard compact SUV, body dimensions are 4570×1852×1694mm, wheelbase 2700mm. Car interior space occupancy rate 84%, pure flat floor in rear row, legroom reaches 911mm, leading in class. After the rear row is folded down, it can be expanded into a 1955mm pure flat big bed. In regular state, trunk volume is 450L, expanded volume reaches 1550L, loading capacity is prominent. The whole car has 38 storage spaces, also equipped with four rivet rings with max load bearing 300kg and two hooks with max load bearing 3kg, convenient for fixing camping equipment and large items.
Regarding design, the Fulwin T7 exterior design is clean and sharp, lines are simple, surfaces are full. Wind-sailing front face, wind-plastic satin body, sky halo tailgate, balancing international simple aesthetics with Oriental elegant temperament. Whole vehicle paint surface standard synchronizes with overseas rigorous weather resistance requirements, providing 6 color schemes: Fiery Orange, Mountain Smoke Purple, Cloud Pink Beige, Flowing Light Silver, Green Bamboo Grey, Ink Stone Black.
Interior is divided into Warm Black Brown and Extreme Night Obsidian two styles, Cloud Wing wrap-around cabin paired with large area soft wrapping, pebble floating speaker, diamond quilting details are exquisite; all interior leather, sealing strips, plastic parts are not easy to harden or fade, still new and durable with long-term use, balancing appearance and texture.
Regarding comfort configuration, the new car adopts 9-layer cloud-sensation seats, soft but not sagging, no fatigue for long sitting, also with ventilation and heating functions. Heating function supports 3-level temperature control adjustment, in -20℃ environment, 5 minutes fast heat to 30℃; seat ventilation adopts suction design, back not stuffy and sweaty in summer.
Regarding range and energy consumption, the new car standard equips all with 65.05kWh Lithium Iron Phosphate battery, CLTC condition range 600km (actual range 667+km), 100km electricity consumption 12.9kWh. Battery SOC 30%-80% only needs 20 minutes. Global integrated thermal management dual-source wide heat pump air conditioning + high voltage PTC allows Northern users to drive confidently in winter. -30°C-55°C ultra-wide temperature range stable operation, heating more power-saving in low temperature environment, heat dissipation more efficient in high temperature environment. With the standard equipped AGS intelligent intake grille and 14 low wind resistance optimizations, high and low speed energy consumption is more stable. The vehicle also has external discharge function, power 6kW.
Regarding power and driving control, Fulwin T7 adopts front-engine front-drive power form, motor maximum power 178kW, maximum torque 275Nm, maximum speed 180km/h. Suspension is front MacPherson + rear multi-link independent suspension combination, chassis is tuned by an international team led by Maserati front chassis tuning experts, 50.8:49.2 golden axle load ratio can effectively inhibit steering push head, tail swinging phenomenon, improving cornering stability and straight line driving tracking.
Regarding intelligent driving assistance, Fulwin T7 high configuration version carries Falcon 500 Driving Assistance System, integrating 3 mm-wave radars, 7 high-performance cameras, 12 ultrasonic radars, total 22 high-precision sensors (3R7V12U), supports highway NOA function (middle-low configuration version supports L2 driving assistance). Regarding parking, the new car can meet 300+ full scene automatic parking, including dead-end street parking, one-key tracking reverse, cross-floor parking etc. scenes, industry coverage is the most complete.
Regarding intelligent cockpit, Fulwin T7 carries Qualcomm 8775 Cockpit-Driving Integrated Chip (low and middle configuration versions carry Qualcomm 8155 Chip), allowing smart cockpit and smart driving two domains seamless synergy. The chip adopts 4nm advanced process, 72TOPS high computing power, response only needs 80ms, boot speed up 33%, speed faster, operation more silky, intelligent interaction response more rapid.
15.6 inch 2.5K HD large screen image delicate and real, anti-glare, anti-reflect, anti-fingerprint, CarPlay, HUAWEI HiCar, CarLink wireless connection, covering 99%+ mobile phone screen casting on the market, achieve seamless interconnection as soon as getting on the car. Lingxi Smart Cockpit 2.0 brings an all-around companion, owning Little Qi Classmate, Northeast Aunt, Argumentation Master, Spoken Language Teacher, Story King, Professional Debater six true-life feeling companion experience. Also Little Nap, Camping, Pet, Wake Up etc. six scene modes, meet various scene car use needs.
Regarding body safety, Fulwin T7's nine horizontal five longitudinal cage body uses 80% high strength steel, 18.84% hot formed steel to build, shotgun structure, double frame sub-frame + Pack anti-collision beam constituted "steel bone and iron flesh" all-around protection for occupant cabin safety, front 9 lines + side 6 lines collision transmission paths maximize dispersion of collision energy, retain occupant survival space; whole car 9 airbags (including 48L dual cavity remote airbag and rear side airbag) form 360° all-around protection.
Regarding battery safety, Fulwin T7 series standard carrying Rhino Battery adopts super strong 6D protection structure, all-around resist extrusion, puncture, impact, construct multi-layer three-dimensional safety barrier for power battery. IP68 water-proof grade is 96 times national standard, effectively preventing battery water ingress short circuit hazard.
Summary: Fulwin T7 enters the compact pure electric SUV market models many, competition fierce. Data shows, in the past year, the top three models in this sub-market ranking are Changan Deepal S05, GAC Toyota Platinum Wisdom 3X, Geely Galaxy E5, prices are 119,900 RMB-151,900 RMB, 109,800 RMB-159,800 RMB, 109,800 RMB-179,800 RMB; sales are 111,682 vehicles, 94,111 vehicles, 91,726 vehicles.
What are the competitive advantages of Fulwin T7? First is the standard 600km range is leading. Changan Deepal S05 entry level range is 520km, Platinum Wisdom 3X is 430km, Galaxy E5 is 530km. For economic family cars, range is many purchase pure electric model consumers' primary attention point.
Second, its charging speed is also fast, battery SOC 30%-80% takes 20 minutes, however this item's advantage is not obvious. Changan Deepal S05 takes 15 minutes, Platinum Wisdom 3X takes 24 minutes, Galaxy E5 takes 20 minutes.
Finally, regarding intelligence, pre-sale price 129,900 RMB of Fulwin T7 Intelligence Edition can provide highway NOA navigation driving assistance, Deepal S05 full series standard equips highway NOA function, price 141,900 RMB-151,900 RMB high configuration version also supports city NOA function; Platinum Wisdom 3X high configuration version provides city and highway NOA function, but price goes to 149,800 RMB-159,800 RMB; Galaxy E5 then full series has no highway or city NOA function.
Through the above simple comparison easy to find, Changan Deepal S05 ranking first in compact SUV market has reasons. Fulwin T7 range has advantage, Changan Deepal S05 intelligent driving configuration higher, just see how users make trade-offs.
小何係汽車圈嘅從業員，2020 年喺證券機構朋友嘅科普下，第一次買咗新能源汽車基金。佢運氣好，趕上咗 2021 年前後嗰波普漲，基金最高浮盈 90%。嗰陣佢諗住仲會漲，所以冇賣。
後來，喺朋友嘅影響下，小何唔再滿足於只買基金，開咗戶買起咗個股。結果六年落嚟，佢唔僅冇賺到錢，仲蝕咗萬幾蚊。『漲嘅時候貪心想再漲少少，蝕嘅時候又想等回本』。咁樣循環往復，佢就套入去啦。
小何唔係個例。由 2021 年到 2025 年，中國新能源汽車銷量由 350 萬輛增長到 1649 萬輛，增幅接近 4 倍。但對好多買咗汽車股嘅投資者嚟講，呢五年唔係財富增長嘅五年，而係被套牢嘅五年。
產業喺增長，投資者卻喺蝕錢。汽車股嘅投資邏輯，已經變咗。
曾經係香饃饃
2021 年，係汽車股嘅黃金時代。
小何仲記得嗰年夏天，辦公室入面，同事喺午休嗰陣聊嘅唔係車，而係基金或股票點數涨咗幾多。佢買嗰隻新能源汽車基金，最高浮盈接近翻倍。
2021 年，中證新能源汽車指數全年上升 56.96%。嗰個『買基金就賺』嘅時代。嗰陣『日光基』頻現，新基金一日賣光、單日認購超百亿嘅場景反覆上演。新能源賽道更係資金追捧嘅焦點。如景順長城新能源產業基金發行嗰陣，認購金額超過 60 億元募集上限，最終觸發比例配售。
圖片來源：攝图网
資本點解咁瘋狂？因為佢哋買嘅唔係汽車，係未來。嗰時市場普遍相信三件事。
第一，新能源會替代燃油車。呢係確定性嘅產業革命，就好似智能手機替代功能機一樣。邊個能抓住呢個機會，邊個就能成為下一個蘋果。
第二，中國車企會誕生類似特斯拉嘅全球巨頭。比亞迪、蔚來、理想、吉利……都被寄予厚望。喺特斯拉市值超越豐田嗰一刻，好多人相信，中國車企也能做到。
第三，智能化會重新定義汽車。汽車會變成『四個輪子嘅手機』，軟件同數據會成為新嘅利潤來源。就好似蘋果靠 App Store 賺得盆滿缽滿一樣，未來嘅車企也能靠軟件收費。
市場叠加咗呢三重預期，畀咗汽車股遠超傳統車企嘅估值。
2021 年底，寧德時代市值攀上 1.6 萬億元高峰，股價觸及 692 元嘅歷史新高。機構普遍將寧德時代視為『新能源時代嘅茅台』。同年前後，比亞迪市值也一度突破萬億元。
同年 8 月，中證新能源汽車指數市盈率一度達到 160 倍。嗰陣，市場唔在乎車企而家賺唔賺錢，在乎嘅係車企未來能賺幾多。嗰陣候，好少人懷疑呢個故事。
小何嘅朋友小明，喺比亞迪股價 90 幾元嗰陣買入，2021 年漲到 200 幾元嗰陣賣出。因為嗰陣時買房急着用钱，所以佢唔後悔賣早咗。但更多嘅人冇賣，佢哋相信股價仲會漲。
小何都冇賣掉持有嘅基金。喺朋友嘅影響下，佢覺得新能源係長線賽道，應該長線持有。佢甚至向三四個朋友推薦咗隻基金。
有一個朋友短期一進一出，賺咗錢買咗個幾萬蚊嘅奢侈品包包。而家回頭看，嗰個朋友反而係最聰明嘅人。
2021 年嘅汽車股上漲，唔係因為車企而家賺咗幾多錢，而係因為市場提前押注未來十年嘅產業變化。但問題係，未來來得太快，也太殘酷。
退潮之後：從買賽道到買贏家
2022 年，潮水就開始漸退了。呢一年，中證新能源汽車指數下跌近三成。
小何當年蝕咗 9000 幾蚊，前一年賺嘅所剩無幾。
而新能源汽車基金大跌，與大環境緊密相關。疫情衝擊、上游原材料漲價、補貼退坡、聯準會加息……各種利空叠加，新能源板塊熱度快速降溫，進入咗所謂嘅去泡沫階段。
2022 年 4 月，寧德時代股價跌破 400 元，市值跌破萬億。呢段距離 1.6 萬億嘅高點，只過去咗四個月。
基金贖回潮嚟咗。好多 2021 年高位入場嘅基民，扛唔住虧損，紛紛割肉離場。小何亦喺呢年 10 月底離場。但佢冇離開汽車股，只係短期內冇上車。2024 年，小何又買進咗之前嘅基金。同時喺朋友小菊嘅影響下，佢開始關注個股。
小菊對股市尤其是汽車股研究頗深。前兩年佢蝕咗幾十萬，2024 年回本咗唔少。佢推薦大家買比亞迪、寧德時代，『這兩家係龍頭，能穿越周期。』
2024 年確實係個股行情嘅一年。呢年，資本市場開始從『畀賽道估值』，轉向『畀企業估值』。比如，華為系嘅賽力斯因為問界系列熱銷，股價從 2023 年嘅 20 幾元一路漲到 2024 年底嘅 130 幾元。
小君亦喺呢一年入場。佢而家持有三隻整車股——比亞迪持有 428 日，賽力斯持有 545 日，江淮汽車持有 323 日。喺 90 幾元嗰陣，佢買入賽力斯，並親眼見到股價摸到 173 元嘅歷史高點，再一路下跌。
『一年前，汽車板塊還係好熱，仲有好多可預見嘅想象空間。』小君回憶，嗰陣時比亞迪閃充仲未發布。佢看好華為系，像賽力斯佈局機器入、入股引望都帶嚟咗持續利好。
尊界 S800 嘅發布，則畀江淮汽車帶嚟咗好多想象。所以，小君入手咗江淮汽車。佢對江淮嘅盈利預期係 20% 以上，『嗰陣對汽車股太有信心啦，達到預期可能仲會再觀望下。』佢曾經止盈賣出過江淮股份，但因為股票持續上漲，又繼續入場。
結果，從大漲到大跌，只用到唔夠一年。
截至 8 月 11 日，賽力斯股價跌到 56 元左右，較歷史高點跌去約七成，市值從 3000 億縮水到唔足 1000 億。江淮汽車股價從去年 58.8 元嘅高位跌至而家嘅 26 元左右，市值縮水至 560 億元左右。
小君被套牢咗。佢好心塞。
2025 年下半年，小喺朋友建議下買入咗吉利系旗下嘅智駕股千里科技。看好嘅原因好直接：吉利擔保，其智能化同新能源普及快，能帶動千里科技業務向好。
千里科技前身為力帆科技，吉利系喺其破產重組後成為重要股東。2025 年初，力帆科技正式更名千里科技，並進一步聚焦『AI+ 車』核心戰略。佢與吉利聯合推出千里浩瀚智駕系統，2025 年下半年更係獲賓士系公司入股。多項利好消息推動千里科技去年股價一度突破 13.8 元/股。
小何提供圖片
唔幸嘅係，小何買入時係超高位。到而家，千里科技已經令佢蝕咗上萬蚊，虧損率超過 30%。拿喺手上好難受，出售又唔甘心，佢只能自我安慰勢必會好轉。
小君都買咗千里科技，同樣被套牢。
另一位投資者小梁則買進咗新能源汽車基金，今年上半年回暖後而家又虧損咗 6%。
三個嘅經歷唔係個例。由 2025 年下半年到而家，汽車板塊整體經歷咗明顯波動，部分熱門汽車股更係走出咗『下跌—回暖—再下跌』嘅走勢。
抄底嗎？
機構持倉已經降到咗底部，市場上開始出現『抄底』聲浪。
東方證券最新報吿顯示，2026 年二季度主動基金對汽車行業重倉配置比例只有 1.9%，環比下降 2.2 個百分點，創下近五年新低。從市值佔比嚟看，汽車板塊佔全 A 市值比重為 3.3%，超配比例為負 1.3%。佢指出，乘用車同零部件板塊嘅基金持倉都跌到咗底部區間。
小何就係喺看咗呢類內容後，決定進場嘅。佢覺得機構持倉見底咗，板塊應該會反彈，於是買進咗江淮汽車。但到而家，佢還虧住。
7 月底，汽車板塊確實一度出現過短暫回暖。截至 7 月 31 日，中證汽車指數報 9269.98 點，單日上升 0.78%。當日個股方面，上汽集團漲咗 1.5%，江淮汽車漲超 7%，賽力斯、長安汽車實現微漲。
但呢波回暖冇持續。進入 8 月後，板塊又開始震盪回調。8 月 11 日，中證汽車指數收跌。從 5 月高點至今，江淮汽車股價已回撤近 50%，比亞迪股價也明顯低於過去一年嘅高點。
回調背後，係行業基本面冇畀到足夠嘅支撐。中汽協數據顯示，上半年國內乘用車內銷 828.7 萬輛，同比下降 24.3%。唯一嘅亮點係出口，上半年乘用車出口 443.2 萬輛，同比增長 72%。
國內市場越來越似存量競爭，海外市場正在成為新嘅增量市場，但還唔足以支持整體車市規模同業績大幅好轉。這意味著汽車行業並唔係冇故事，而係舊故事正喺結束，新故事仲需要證明自己。
面對呢啲行情，大多數股民選擇觀望。小夏手上持有一隻汽車類 ETF 兩三年啦，今年有少少回暖，但佢冇增持嘅計劃。小梁亦係，佢只想等盈利回升到 20% 就賣掉基金。
小君對比亞迪則仍選擇長線持有。喺佢睇嚟，區分長線持有定短期關注，核心依據係『未來有冇潛力同新故事』。比亞迪嘅全球化，就係佢睇重嘅新故事。
比亞迪 2026 年 1-6 月銷量
呢個故事正喺兌現。2026 年 1-7 月，比亞迪海外銷量近 97 萬輛，7 月單月接近 18 萬輛，海外佔總銷量比重已达 40%。其巴西、泰國工廠已量產，匈牙利、土耳其等海外基地亦喺推進中。
過去市場買嘅係新能源滲透率快速提升帶來嘅增長預期。而家滲透率已經進入高位——2026 年 7 月新能源乘用車零售滲透率已突破 65%。行業競爭從『邊個能抓住新能源紅利』，轉向『邊個喺存量競爭中活落嚟並賺到錢』。但價格戰之下，多數車企盈利承壓。
產業增長並唔等於企業盈利，更唔等於股票上漲。新能源滲透率提升帶來嘅行業增量，喺企業數量增加、價格競爭加劇嘅背景下，並冇同步轉化為利潤增長。數據顯示，汽車行業整體利潤率已跌至 3% 左右。過去提前交易嘅成長預期被不斷兌現，估值中樞隨之下降，資本開始尋找新嘅高增長預期。
盈利唔行，市場就需要新嘅故事嚟支撐估值。『而家新能源汽车滲透率已經超過 50%，造車新勢力也都跑出來啦，換言之，而家已經到咗百家爭鳴嘅時候。』
小君認為，盈利係一個比較重要嘅衡量指標，但光有盈利唔夠，資本市場仲需要新嘅想象空間。『支撐資本市場情緒嘅，係新嘅故事。其實各家都喺搵新嘅故事，比如小鵬汽車嘅機器入、理想汽車嘅增程之外，後續要看呢啲新故事有冇辦法講落去。』
但在資深投資者田胡（化名）睇嚟，呢啲新故事都唔足以支撐汽車股重回高點。『電動車上升空間已經唔多，而股票炒嘅都係預期。』佢判斷，汽車股好長時間內都會維持震盪走勢，除唔係出現真正爆炸性嘅新技術。而家整個汽車行業，佢唯一看好嘅增長方向係出口。
圖片來源：花瓣網
『我諗，我要緊盯儲能、算力等新興行業。』田胡話。
資金已經喺用腳投票。小何打算等回本後或者虧損收窄後，賣掉千里科技等汽車股，全面轉向科技類尤其係人工智能相關嘅股份。佢而家已經買進咗唔少科技類基金同股票。小梁都買進咗 AI 科技類股票，有咗唔少收穫。
喺追逐新故事嘅資本圈入面，汽車股已經冇咁熱啦。
但這唔係汽車行業嘅問題。
任何一個產業走向成熟，都會經歷咗呢樣時刻：當增量市場變成存量市場，當講故事嘅速度趕唔上產能擴張嘅速度，當行業從『比誰嘅故事大』變成『比邊個能將規模、技術同成本真正轉化咗利潤』，資本就會開始撤退。
互聯網如此，智能手機如此，新能源汽車亦如此。這唔係產業嘅失敗，而係產業從青春期進入成年期嘅必經之路。
真正嘅考驗，恰恰係從資本退潮之後開始嘅。資本退潮之後，企業真正嘅經營能力先會放喺台面上。靠融資活住嘅公司會消失，靠技術同效率活住嘅公司會留低。價格戰會洗掉一批玩家，行業集中度會提升，利潤會向頭部集中。呢個過程可能好殘酷，但對產業長期健康未必係壞事。
而資本，永遠都喺追逐下一個故事。從新能源到 AI，從儲能到算力，賽道喺換，邏輯冇變——永遠喺預期最飽滿嘅時候湧入，喺兌現最艱難嘅時候離場。
對普通投資者嚟講，最難嘅唔係搵到下一個風口，而係承認自己可能搵唔到。唔係每個人都能喺最熱嘅時候離場，亦唔係每個人都能喺最冷嘅時候抄底。更多嘅時候，我哋係喺最熱嘅時候被吸引入嚟，喺最冷嘅時候選擇堅守，然後喺下一個風口重複同樣嘅錯誤。
投資呢件事，講到底係同自己嘅人性較勁。理解週期，接受分化，唔被市場情緒裹挾，比押中一個賽道更重要。汽車股嘅故事講完咗，仲會有下一個故事。但喺下一個故事入面，希望我哋都能多一分冷靜，少一分貪婪。
In Malaysia's SUV market, many buyers compare the Proton X70 and Kia Sportage when choosing a car. These two cars are quite close in terms of price and positioning. Today, we will make a detailed comparison from multiple aspects to help you save time on research.
Proton X70's OTR price in Malaysia is RM 106,800 - 122,300, with a total of 3 versions, including 1.5L Standard 2WD (RM 106,800), 1.5L Executive 2WD (RM 115,800), 1.5L Premium 2WD (RM 122,300), etc.
Kia Sportage's OTR price in Malaysia is RM 129,639 - 179,320, with a total of 4 versions, including 2025 1.6T DCT 4WD High (RM 179,320), 2025 1.6T DCT 2WD High (RM 159,320), 2025 2.0L AT 2WD High (RM 139,639), etc.
In terms of price, the starting price of the Proton X70 is indeed RM 22,839 cheaper than the Kia Sportage. If your budget is limited, the Proton entry-level version can already meet daily needs. But be aware, those few thousand cheaper might involve trade-offs in features, depending on your specific needs.
Proton X70's safety rating is 5★ (ASEAN NCAP), active safety systems include ADAS (ACC, AEB, LKA, LDA, BSM, RCTA).
Kia Sportage's safety rating is 5★ (ASEAN NCAP), active safety systems include Drive Wise.
Both cars have the same safety rating, and safety features are quite comprehensive for this class. New cars nowadays don't lack safety, so no need to worry too much about this.
Proton X70 uses FWD drive mode.
Kia Sportage uses FWD drive mode.
Both cars have the same drive mode, both are FWD, so daily driving experience won't be much different.
Proton X70 warranty 5 years/150,000km, maintenance interval every 10,000km or 6 months.
Kia Sportage warranty 5 years/300,000km, maintenance interval every 10,000km or 6 months.
Both Proton X70 and Kia Sportage are mainstream choices in the Malaysian market, suitable for family use and daily commuting. If you value brand reputation and resale value more, you can prioritize the one with better reputation; if you care more about cost-performance ratio and features, choose the one with richer configuration. Ultimately, it is recommended to test drive both, personal experience is the most important.
Overall, both Proton X70 and Kia Sportage are quite good models in the Malaysian market. Which one to choose mainly depends on your personal needs and budget. It is recommended to do your research, compare quotes from multiple dealerships, and then test drive to make a final decision. Buying a car is a major matter, spending time on research will never be wrong.
喺馬來西亞嘅 SUV 市場，好多買家喺揀車嗰陣都會拎 Proton X70 同 Subaru Forester 黎做比較。呢兩款車喺價位同定位上都係好接近，而家我就從多個方面做一個詳細嘅比較，幫你省咗做功課嘅時間。
Proton X70 喺馬來西亞嘅 OTR 售價係 RM 106,800 - 122,300，一共有 3 個版本，包括 1.5L Standard 2WD（RM 106,800）、1.5L Executive 2WD（RM 115,800）、1.5L Premium 2WD（RM 122,300）等。
Subaru Forester 喺馬來西亞嘅 OTR 售價係 RM 174,000 - 197,000，一共有 3 個版本，包括 2024 2.0L S EyeSight GT Edition（RM 189,538）、2024 2.0L S EyeSight（RM 177,538）、2024 2.0L L EyeSight（RM 167,538）等。
從價錢來看，Proton X70 嘅起步價確實比 Subaru Forester 平咗 RM 67,200。如果你預算有限，Proton 嘅入門版已經可以滿足日常需求。但也要注意，便宜嗰幾千塊，可能喺配備上會有取舍，具體要看你嘅需求。
Proton X70 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括 ADAS (ACC, AEB, LKA, LDA, BSM, RCTA)。
Subaru Forester 嘅安全評級係 5★ (Euro NCAP)，主動安全系統包括 EyeSight。
安全配備方面，兩款車都拿到唔錯嘅評級。不過 Proton X70 嘅 ADAS (ACC, AEB, LKA, LDA, BSM, RCTA) 同 Subaru Forester 嘅 EyeSight 喺功能上有些分別，如果你比較看重主動安全嘅話，可以仔細對比一下兩者嘅功能列表。
Proton X70 保養保用 5 年/150,000km，保養間隔 每 10,000km 或 6 個月。
Subaru Forester 保養保用 3 年/100,000km，保養間隔 每 10,000km 或 6 個月。
Proton X70 同 Subaru Forester 都係馬來西亞市場嘅主流選擇，適合家庭使用、日常通勤。如果你更看重品牌口碑同二手價，可以優先考慮口碑好嗰款；如果你更在意性價比同配備，那就選配置更豐富嗰款。最終都係建議兩款都去試駕，親身體驗先係最重要嘅。
總嘅嚟講，Proton X70 同 Subaru Forester 都係馬來西亞市場好唔錯嘅車型。揀邊一輛，關鍵都係要看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。買車係一件大事，花啲時間做功課絕對唔會錯。
喺馬來西亞嘅 SUV 市場，好多買家喺揀車嘅時候都會拿 Proton X70 同 Volkswagen Tiguan 嚟做比較。這兩款車喺價位同定位上都幾近嘅，今日我就從多個方面嚟做一個詳細嘅對比，幫你慳下做功課嘅時間。
Proton X70 喺馬來西亞嘅 OTR 售價係 RM 106,800 - 122,300，一共有 3 個版本，包括 1.5L Standard 2WD（RM 106,800）、1.5L Executive 2WD（RM 115,800）、1.5L Premium 2WD（RM 122,300） 等。
Volkswagen Tiguan 喺馬來西亞嘅 OTR 售價係 RM 206,540 - 260,024，一共有 2 個版本，包括 2025 Allspace 2.0T R-Line（RM 260,024）、2025 Allspace 1.4T Elegance（RM 206,540） 等。
由價錢睇，Proton X70 嘅起步價確實比 Volkswagen Tiguan 平咗 RM 99,740。如果你預算有限，Proton 嘅入門版已經可以滿足日常需求。但都要注意，便宜嘅幾千塊，可能喺配備上會有取舍，具體要看你嘅需求。
Proton X70 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括 ADAS (ACC, AEB, LKA, LDA, BSM, RCTA)。
Volkswagen Tiguan 嘅安全評級係 5★ (Euro NCAP)，主動安全系統包括 IQ.Drive。
安全配備方面，兩款車都拿到唔錯嘅評級。不過 Proton X70 嘅 ADAS (ACC, AEB, LKA, LDA, BSM, RCTA) 同 Volkswagen Tiguan 嘅 IQ.Drive 喺功能上有些差異，如果你比較看重主動安全嘅話，可以仔細對比一下兩者嘅功能列表。
Proton X70 保養保用 5 年/150,000km，保養間隔 每 10,000km 或 6 個月。
Volkswagen Tiguan 保養保用 3 年/100,000km，保養間隔 每 10,000km 或 6 個月。
Proton X70 同 Volkswagen Tiguan 都係馬來西亞市場嘅主流選擇，適合家庭使用、日常通勤。如果你更看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，那就揀配置更豐富嗰款。最終都係建議兩款都去試駕，親身體驗先係最重要嘅。
總體嚟講，Proton X70 同 Volkswagen Tiguan 都係馬來西亞市場好唔錯嘅車款。揀邊輛，關鍵仲係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，花少少時間做功課絕對唔會錯。
