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In the Malaysian SUV market, many buyers compare Proton X90 and Mazda CX-60 when choosing a car. These two models are quite close in price and positioning. Today, we will make a detailed comparison from multiple aspects to help you save time on research.
Proton X90 is priced at RM 106,800 - 122,800 OTR in Malaysia, with a total of 4 versions, including 2026 1.5T Prime X (RM 122,800), 2026 1.5T Prime (RM 116,800), 2026 1.5T Lite (RM 106,800), etc.
Mazda CX-60 is priced at RM 200,510 - 252,873 OTR in Malaysia, with a total of 2 versions, including 2026 3.3T 4WD High Plus (RM 252,873), 2025 2.5L 2WD High (RM 200,510), etc.
From a price perspective, Proton X90's starting price is indeed RM 93,710 cheaper than Mazda CX-60. If your budget is limited, Proton's entry-level version can already meet daily needs. However, note that the cheaper price might involve trade-offs in features, it specifically depends on your requirements.
Proton X90 is equipped with 1.5L Turbo, 140 hp. Official fuel consumption 7.0 L/100km.
Mazda CX-60 is equipped with 2.0L 4-cyl, 170 hp. Official fuel consumption 8.0 L/100km.
In terms of power, Mazda CX-60's 2.0L 4-cyl has 30 more horsepower than Proton X90's 1.5L Turbo. However, for daily city driving, the power of both cars is sufficient, you won't feel underpowered.
Proton X90 body length 4400 mm, trunk 400 L.
Mazda CX-60 body length 4500 mm, trunk 450 L.
In terms of space, Mazda CX-60's body is 100 mm longer than Proton X90, offering more advantage in passenger space. However, Proton X90 is a bit more flexible for parking in the city, each has trade-offs.
Proton X90 adopts FWD drive type.
Mazda CX-60 adopts FWD drive type.
Both cars have the same drive type, both FWD, daily driving experience will not have much difference.
In general, Proton X90 and Mazda CX-60 are both very good car models in the Malaysian market. Which one to choose depends mainly on your personal needs and budget. We suggest doing your homework, compare quotes from several dealers, and then test drive to make the final decision. Buying a car is a big matter, taking the time to do your research will definitely not be a mistake.
In the SUV market in Malaysia, many buyers compare Proton X90 and Toyota Yaris Cross when choosing a car. These two cars are quite close in price and positioning, so today we will make a detailed comparison from multiple aspects to help you save time on research.
Proton X90's OTR price in Malaysia is RM 106,800 - 122,800, with a total of 4 versions, including 2026 1.5T Prime X (RM 122,800), 2026 1.5T Prime (RM 116,800), 2026 1.5T Lite (RM 106,800), etc.
Toyota Yaris Cross's OTR price in Malaysia is RM 99,900 - 109,900, with a total of 2 versions, including 2026 1.5L Standard (RM 99,900), 2026 HEV 1.5L Standard (RM 109,900), etc.
From a price perspective, Toyota Yaris Cross's starting price is RM 6,900 cheaper than Proton X90. Honestly, at this price point, a difference of a few thousand is actually not significant; the key is still the overall value for money and long-term usage costs.
Proton X90 is equipped with 1.5L Turbo, 140 hp. Official fuel consumption 7.0 L/100km.
Toyota Yaris Cross is equipped with 1.5L 4-cyl, 105 hp. Official fuel consumption 6.0 L/100km.
In terms of power, Proton X90's 1.5L Turbo has 35 more horsepower than Toyota Yaris Cross's 1.5L 4-cyl, with more confidence in mid-range acceleration, especially when overtaking on highways. However, Toyota Yaris Cross fuel consumption might be more friendly, and the difference in daily city commuting won't be too large.
Proton X90 body length 4400 mm, trunk 400 L.
Toyota Yaris Cross body length 4400 mm, trunk 400 L.
The dimensions of the two cars are almost the same, and the interior space difference is not significant. For cars in this class, daily use is completely sufficient.
Proton X90 and Toyota Yaris Cross are both 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 value for money and features, then choose the one with richer configurations. Ultimately, we suggest test driving both, as personal experience is the most important.
Overall, Proton X90 and Toyota Yaris Cross are both very good models in the Malaysian market. Which one to choose depends on your personal needs and budget. We recommend doing research, comparing quotes from several dealerships, and then going for a test drive to make the final decision. Buying a car is a big deal, spending time on research will never be wrong.
In the Malaysian SUV market, many buyers compare the Proton X70 and Chery Tiggo 8 PHEV when choosing a car. Both cars are quite close in price and positioning. Today we will make a detailed comparison from multiple aspects to help you save time on research.
The Proton X70 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.
The Chery Tiggo 8 PHEV OTR price in Malaysia is RM 159,750 - 159,750, with a total of 2 versions, including 1.6L Turbo Standard (RM 130,000), 1.6L Turbo Premium (RM 145,000) etc.
From a price perspective, the starting price of the Proton X70 is indeed RM 52,950 cheaper than the Chery Tiggo 8 PHEV. If your budget is limited, Proton's entry-level version can already meet daily needs. But keep in mind, the cheaper few thousand might have trade-offs in features, it depends on your specific needs.
Proton X70 safety rating is 5★ (ASEAN NCAP), active safety systems include ADAS (ACC, AEB, LKA, LDA, BSM, RCTA).
Chery Tiggo 8 PHEV safety rating is TBD, active safety systems include Basic.
Regarding safety features, both cars received good ratings. However, the Proton X70's ADAS (ACC, AEB, LKA, LDA, BSM, RCTA) and Chery Tiggo 8 PHEV's Basic have some differences in functions. If you value active safety, you can carefully compare the feature lists of both.
Proton X70 adopts FWD drive mode.
Chery Tiggo 8 PHEV adopts FWD drive mode.
Both cars have the same drive mode, both are FWD, daily driving experience will not be much different.
Proton X70 warranty is 5 years/150,000km, maintenance interval is every 10,000km or 6 months.
Chery Tiggo 8 PHEV warranty is 3 years/100,000km, maintenance interval is every 10,000km or 6 months.
Proton X70 and Chery Tiggo 8 PHEV are both 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, then choose the one with richer configuration. Ultimately, it is recommended to test drive both, experiencing it yourself is the most important.
Overall, Proton X70 and Chery Tiggo 8 PHEV are both very good car models in the Malaysian market. Which one to choose depends on your personal needs and budget. We suggest you do your homework, compare quotes from several car dealers, and then test drive to make a final decision. Buying a car is a big matter, spending some time doing homework will never be wrong.
延續增長勢能，下半年首月告捷。7 月，上汽大通全系熱銷 25,050 輛，按年增 35％。新能源車型熱銷 10,602 輛、按年大幅攀升 140％，內地新能源滲透率高達 70%，爆款「大拿」7 月熱銷 5,310 輛，持續領跑新能源輕客賽道。海外熱銷 13,984 輛，按年增 69％，新能源按年大升 989%，全球化版圖持續擴容。輕客龍頭地位穩固，皮卡銷量持續高增，躍進新能源輕卡賽道領跑，三大業務線協同發力，打響下半年「第一槍」。
【上汽大通 7 月熱銷】
輕客龍頭地位穩固，「爆款」大拿新能源賽道領跑。繼斬獲單月及累計銷量「雙冠王」，大通輕客 7 月熱銷 9,619 輛，按年增 22%。其中大拿系列當月熱銷 5,310 輛，按年大升 134%，鞏固新能源輕客標杆地位。「行業首款超級增程大輕客」大拿超級增程大品牌、大電量、大續航嘅「三大」同小體積、小重量、小油耗嘅「三小」，定義商用增程標杆，上市以來持續收獲城配、跨城物流用戶青睞；大拿 V1（寧德天行電池 50 度）實現續航、補能、質保全方位升級，精準卡位城配物流與小微創業創富剛需，加量唔加價嘅誠意收獲市場廣泛認可。
【大拿 V1】
皮卡「先試後買」，銷量持續高增。大通皮卡 7 月熱銷 7,678 輛，按年增 41%，增速領跑細分賽道。全新星際 L、26 款星際 EV、26 款 T60 組成嘅全場景產品矩陣持續發力，全面覆蓋商用創富、家用休閒、硬核越野等多元用車需求。行業首創「7 天免費試用」模式，讓用戶喺真實營運與生活場景中深度體驗大通皮卡性能，有效降低購車決策門檻。
【全新星際 L】
躍進轉型提速，冷鏈物流市場再突破。上汽大通躍進品牌 7 月熱銷 3,621 輛。其中新能源車型熱銷 3,056 輛、按年大升 117%，銷量佔比達 85%，新能源轉型持續提速。冷鏈物流市場再突破，大拿 T1 冷藏車喺上海、常州、南京等多地完成批量交付，以可靠性能收獲 B 端客戶嘅廣泛認可。
【大拿 T1】
海外持續擴容，全球化縱深推進。7 月，上汽大通海外熱銷 13,984 輛，按年大升 69%，新能源按年大升 989%，產品持續暢銷全球 100 多個國家同地區。喺成熟市場，品牌地位持續鞏固：6 月希臘輕型商用車市場中，MAXUS 品牌銷量登頂中國品牌榜首，連續 6 個月蟬聯希臘輕型商用車市場中國品牌市佔率第一，標誌著品牌喺發達市場嘅產品力與品牌力獲得進一步認可，喺歐洲市場嘅滲透步伐持續加快。新興市場同細分場景都唔斷取得突破：7 月委內瑞拉石油公司首批採購 200 台大通 T60 皮卡，憑藉可靠嘅產品品質與適配礦區、基建場景嘅硬核性能，品牌喺當地能源、工程等專業作業領域嘅影響力持續擴大；疊加智利礦區批量訂單嘅穩步落地，高端皮卡嘅商用價值獲得海外企業客戶嘅高度認可。從產品輸出到體系化服務落地，上汽大通正以本地化深度運營，唔斷拓寬全球市場嘅增長邊界。
【大通產品喺新加坡】
下半年首月告捷，上汽大通輕客基盤穩固、皮卡輕卡增長勢能延續，為下半年高質量增長築牢基礎。站喺新起點，上汽大通將繼續錨定「全球輕型商用車領導者」戰略願景，加碼新能源同全球化佈局，持續助力中國商用車產業轉型升級。
喺馬來西亞嘅 SUV 市場，好多買家喺揀車嘅時候都會拿 寶騰 X70 同 豐田 Corolla Cross 來做比較。呢兩款車喺價位同定位上都幾接近，而家我哋就由多個方面做一個詳細嘅比較，幫你節省做功課嘅時間。
寶騰 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） 等等。
豐田 Corolla Cross 喺馬來西亞嘅 OTR 售價係 RM 133,800 - 148,800，一共有 3 個版本，包括 2026 HEV 1.8L GR Sport（RM 148,800）、2026 HEV 1.8L Standard（RM 140,800）、2026 1.8L Standard（RM 133,800） 等等。
由價錢睇落嚟，寶騰 X70 嘅起步價確實比 豐田 Corolla Cross 平咗 RM 27,000。如果你預算有限，寶騰嘅入門版已經可以滿足日常需要。但都要留意，便宜嗰幾千塊，可能喺配備上會有取捨，具體要睇你嘅需要。
寶騰 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)。
豐田 Corolla Cross 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括 TSS (PCS, LDA, ACC, LTA)。
兩部車嘅安全評級一樣，喺呢個級別入面安全配備都算好齊全。而家嘅新車安全性都唔差，唔使太擔心呢一點。
寶騰 X70 採用 FWD 驅動方式。
豐田 Corolla Cross 採用 FWD 驅動方式。
兩部車嘅驅動方式一樣，都係 FWD，日常駕駛感覺唔會有太大分別。
寶騰 X70 同 豐田 Corolla Cross 都係馬來西亞市場嘅主流選擇，適合家庭用車、日常通勤。如果你更重視品牌口碑同二手價，可以優先考慮口碑更好嗰一款；如果你更在乎性價比同配備，嗰就揀配備更豐富嗰款。最後都係建議兩部車都去試駕，親身體驗先係最緊要。
總體嚟講，寶騰 X70 同 豐田 Corolla Cross 都係馬來西亞市場好唔錯嘅車型。揀邊一輛，關鍵仲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，花少少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 X50 同 Chery Tiggo 7 PHEV 嚟做比較。呢兩款車喺價位同定位上都好接近，今日我哋就由多個方面做一個詳細嘅對比，幫你省返做功課嘅時間。
Proton X50 喺馬來西亞嘅 OTR 售價係 RM 89,800 - 113,300，合共 4 個版本，包括 1.5T Executive（RM 89,800）、1.5T Premium（RM 101,800）、1.5T Flagship（RM 113,300）等等。
Chery Tiggo 7 PHEV 喺馬來西亞嘅 OTR 售價係 RM 129,750 - 129,750，合共 2 個版本，包括 2025 1.5T 90km CSH（RM 129,750）、Tiggo 7 PHEV 支援邊種充電方法？可以用家居電源插座充電嗎？（RM 117,478）等等。
睇返價錢，Proton X50 嘅起步價的確比 Chery Tiggo 7 PHEV 平咗 RM 39,950。如果你預算有限，Proton 嘅入門版已經可以滿足日常需要。但都要留意，嗰幾千蚊，可能喺配備上會有取捨，具體要視乎你嘅需求。
Proton X50 裝載 1.5L 4-cyl，馬力 105 hp。官方油耗 6.0 L/100km。
Chery Tiggo 7 PHEV 裝載 Hybrid，馬力 170 hp。官方油耗 4.5 L/100km。
動力方面，Chery Tiggo 7 PHEV 嘅 Hybrid 比 Proton X50 嘅 1.5L 4-cyl 多咗 65 匹馬力。不過日常喺市區開，兩款車嘅動力都夠用，唔會覺得唔夠力。
Proton X50 車身長 4400 mm，尾箱 400 L。
Chery Tiggo 7 PHEV 車身長 4400 mm，尾箱 400 L。
兩款車嘅尺寸幾乎一樣，車內空間差別唔大。呢級別嘅車，日常使用完全夠用。
Proton X50 採用 4WD 驅動方式。
Chery Tiggo 7 PHEV 採用 FWD 驅動方式。
Proton 嘅 4WD 同 Chery 嘅 FWD 喺操控上會有唔同感受，建議試駕對比。
Proton X50 保修 5 年/150,000km，保養間隔 每 10,000km 或 6 個月。
Chery Tiggo 7 PHEV 保修 3 年/100,000km，保養間隔 每 10,000km 或 6 個月。
總括嚟講，Proton X50 同 Chery Tiggo 7 PHEV 都係馬來西亞市場幾唔錯嘅車型。揀邊一輛，關鍵都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。
喺馬來西亞嘅 SUV 市場，好多買家喺揀車嘅時候都會拿 Proton X50 同 Mazda CX-8 嚟做比較。這兩款車喺價位同定位上都幾近，今日我哋就從多個方面做一個詳細嘅比較，幫你節省咗做功課嘅時間。
Proton X50 喺馬來西亞嘅 OTR 售價係 RM 89,800 - 113,300，一共有 4 個版本，包括 1.5T Executive（RM 89,800）、1.5T Premium（RM 101,800）、1.5T Flagship（RM 113,300） 等等。
Mazda CX-8 喺馬來西亞嘅 OTR 售價係 RM 165,360 - 201,360，一共有 5 個版本，包括 2025 2.5T 4WD High Plus Petrol（RM 201,360）、2025 2.2L 2WD High Plus Diesel（RM 193,123）、2025 2.5L 2WD High Plus Petrol（RM 186,360） 等等。
由價錢來看，Proton X50 嘅起步價確實比 Mazda CX-8 平咗 RM 75,560。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，便宜嗰幾千蚊，可能喺配備上有取捨，具體要睇你嘅需求。
Proton X50 採用 4WD 驅動方式。
Mazda CX-8 採用 FWD 驅動方式。
Proton 嘅 4WD 同 Mazda 嘅 FWD 喺操控上會有唔同感受，建議試駕比較。
Proton X50 保養 5 年/150,000km，保養間隔 每 10,000km 或 6 個月。
Mazda CX-8 保養 5 年/150,000km，保養間隔 每 10,000km 或 6 個月。
兩款車嘅保養條件一樣，呢方面唔使煩惱。實際保養成本仲要睇品牌嘅服務網絡同零件價錢，建議去車友群問問真實車主嘅經驗。
Proton X50 同 Mazda CX-8 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一款；如果你更在意性價比同配備，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。
總嚟講，Proton X50 同 Mazda CX-8 都係馬來西亞市場幾不錯嘅車型。揀邊一部，關鍵都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，先去試駕做最終決定。買車係件大事，花點時間做功課絕對唔會錯。
喺馬來西亞嘅汽車市場，好多買家喺揀車嘅時候都會拿本田 HR-V 同 Hyundai Tucson 做比較。今日我哋由多個方面做詳細對比，幫你節省做功課嘅時間。
本田 HR-V 喺馬來西亞嘅 OTR 售價係 RM 115,900 - 143,900，一共有 4 個版本，包括 2026 e:HEV 1.5L RS（RM 143,900）、2026 1.5T V（RM 137,900）、2026 1.5T E（RM 130,900）等。
現代 Tucson 喺馬來西亞嘅 OTR 售價係 RM 143,888 - 197,888，一共有 5 個版本，包括 2025 HEV 1.6T AT 2WD Prestige（RM 197,888）、2025 1.6T DCT 4WD Prestige（RM 186,888）、2025 1.6T DCT 2WD Prime（RM 164,888）等。
由價錢嚟睇，本田 HR-V 嘅起步價確實比現代 Tucson 平咗 RM 27,988。如果你預算有限，本田嘅入門版已經可以滿足日常需要。但都要注意，平嘅嗰幾千蚊，可能喺配備上有取捨，具體要睇你嘅需要。
本田 HR-V 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括本田 SENSING (ACC, CMBS, LKAS, RDM)。
現代 Tucson 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括 SmartSense。
兩部車嘅安全評級一樣，喺呢個級別入面安全配備都算好齊全。而家嘅新車安全性都唔差，唔使太擔心呢一點。
本田 HR-V 車身長 4500 mm，後尾箱 450 L。
現代 Tucson 車身長 4400 mm，後尾箱 400 L。
空間方面，本田 HR-V 嘅車身比現代 Tucson 長咗 100 mm，車內坐客空間會稍微寬鬆啲，尤其係後座腳部空間。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 HR-V 保用 5 年/無限制里程，保養間隔 每 10,000km 或 6 個月。
現代 Tucson 保用 5 年/300,000km，保養間隔 每 10,000km 或 6 個月。
總體嚟講，本田 HR-V 同 Hyundai Tucson 都係馬來西亞市場幾不錯嘅車款。揀邊部，關鍵都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，先至去試車做最終決定。買車係件大事，花少少時間做功課絕對唔會錯。
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。
車型概覽
哪吒S獵裝 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。 呢篇會集中講售價未落實前點樣先篩選，幫你用買家角度篩走唔適合嘅選擇。
售價仍待確認，買家可以先把佢放入候選名單，等價格落實後再同同級車逐項比較。
購車價格指南
哪吒S獵裝 目前售價仍未清晰，較理性嘅做法係先睇版本、車身大小同動力形式，等價格落實後再決定值唔值得落訂。
如果有幾個版本可揀，可以先將 2024 EREV 1.5L 300km 後驅版（價格待確認）、2024 BEV 510km 後驅版（價格待確認）、2024 BEV 640km 四驅版（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 哪吒S獵裝 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。
43.88/64.84/91 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。 300/510/640 km 嘅續航參考，對住喺新界、九龍同港島之間跨區行車嘅用家會更實際。 95 Ps / 70 kW / 200 kW / 370 kW、330/640 N·m 嘅輸出，令高速併線同短距離超車更有信心。 車長 4980 mm、車闊 1980 mm、車高 1480 mm、軸距 2980 mm 可以幫你預判商場停車場、屋苑車位同後排腿部空間。
優缺點分析
哪吒S獵裝 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：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、空間同車身尺寸方便家庭買家預判實用性。
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 哪吒S獵裝 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「哪吒 S 獵裝 (Neta S Shooting Brake) 香港賣幾錢？」簡單講，哪吒 S 獵裝 (Neta S Shooting Brake) 香港預計含稅價約 HK$ 32-45 萬。 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 哪吒S獵裝 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：先等售價落實，再決定佢應該同邊個級距比較、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 哪吒S獵裝 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。
When the narrative of sheer scale in the Chinese New Energy Passenger Car Market is no longer persuasive, a more severe question arises: Where lies the value foundation of the industry?
Looking at the sales data for April alone, it seems everything is "growing upwards": The retail penetration rate of Chinese new energy vehicles historically broke through 60%, reaching 61.4%, meaning for every 10 new cars sold, more than 6 are new energy vehicles.
However, a set of less-than-ideal data echoed in the industry at the same time: In 2025, domestic car sales exceeded 34.4 million units, but the overall profit margin of China's automotive industry during the same period was only 4.1%.
"It looks like scale is growing, but the industry's overall health faces challenges." Wang Hui, Vice President of Avatr Technology, cited data from the CPCA, and in January-February 2026, this figure dropped further to 2.9%.
The latest data shared by Cui Dongshu, Secretary-General of the CPCA Passenger Car Section, shows that in January-March 2026, the automotive industry's profit margin fell to 3.2%, at a low level for the same period in recent years. The automotive industry's profit margin is not only significantly lower than the average profit margin of national industrial enterprises above designated size, but it is also approaching the break-even point for operations for the vast majority of vehicle manufacturers.
When a penetration rate of 61.4% collides with a profit margin of 2.9%, it forms a very fractured industrial landscape: China's automotive industry is speeding ahead on the road of "getting bigger", but is stumbling on the road of "getting stronger".
At the Shenzhen 2026 (4th) Future Automotive Pioneer Conference, these "pioneers" gave some answers and posed deeper questions.
Image Source: Future Automotive Pioneer Conference
Sales Are Rising, Profits Are Falling?
Since 2026, China's automotive market has presented a seemingly contradictory yet established picture.
On one hand, the surge of new energy vehicles is unstoppable. Data from the CPCA Passenger Car Section shows that in April 2026, domestic new energy passenger car retail reached 849,000 units, the penetration rate historically broke through 60%, reaching 61.4%, an increase of 9.7 percentage points compared to the same period in 2025, setting a historical record for monthly penetration in the domestic car market.
Among these, the performance of independent brands was particularly eye-catching. In April, the new energy penetration rate within independent brands reached 80.1%, while the new energy penetration rate among luxury vehicles was only 26.1%. Chinese brands already hold a dominant position in the new energy market.
On the other hand, profit margins for vehicle manufacturers are being compressed sharply. From 4.1% in 2025 to 2.9% in the first two months of 2026, this downward curve is concerning.
Just looking at the absolute value of profit, the total profit of the automotive industry in January-March 2026 was 78.4 billion yuan, a 18% year-over-year decrease. Facing this figure, Wang Hui's remarks at the conference appeared particularly sharp: "Sales without profit are fake sales; scale achieved through price wars is even more of a false prosperity."
Image Source: Future Automotive Pioneer Conference
"Selling more while losing more" has turned from a joke into a ruthless reality.
Investigating the reasons, large-scale "price wars" are undoubtedly the most direct catalyst.
Since 2025, the industry has seen the slogan "Electricity is cheaper than fuel", followed by various companies catching up. Lowering prices is no longer news. But the more fundamental problem is that when all car manufacturers have high convergence in technical routes and product configurations: 800V high-voltage platforms, AI voice large models, and end-to-end intelligent driving become standard configurations, price becomes the only differentiated competitive means, and profits are eroded layer by layer.
Xu Jun, Senior Vice President and Chief Operating Officer of Leapmotor, analyzed: "A range of 700 kilometers versus 1000 kilometers, user perception difference approaches zero, yet costs rise exponentially. Compute power from 30 TOPS to 1000 TOPS, experience difference is far smaller than parameters."
Image Source: Future Automotive Pioneer Conference
He therefore believes that specs so far are just a basic entry ticket, not the deciding factor.
Behind Xu Jun's viewpoint is a trend worth reflection: When automotive technology enters a "convergence period", the architecture of centralized computing + regional controllers is converging, end-to-end intelligent driving solutions are becoming identical, and AI solutions for smart cockpits are becoming increasingly similar, making it increasingly difficult to build differentiated competitiveness relying on technical parameters.
The weight of brand attention in user purchase decisions is rising significantly.
Nio Founder Li Bin revealed the latest research data from McKinsey: One or two years ago, brand was only ranked fifth among purchase decision factors, now it has jumped to second, "believes it will soon enter the top spot".
Image Source: Future Automotive Pioneer Conference
When brands begin to become the "deciding factor", China's automotive industry's technological dividend is quickly turning into brand dividends, while brand reconstruction and construction are far more difficult and test fortitude more than stacking parameters.
Who is Trying to Break the Negative Growth Curse?
Against the background of declining industry profit margins, not all enterprises have fallen into the mud of "revenue growth without profit growth".
At this conference, a few "dark horses" used solid data to prove a possibility: Chinese brands can not only sell at higher prices, but also make profits back.
Xing Xinchu, Chairman of Jianghuai Automobile Group, disclosed in his speech that since Maextro S800 launched in May 2025, cumulative deliveries have exceeded 18,500 units, ranking first in luxury sedan sales above 700,000 yuan for 8 consecutive months.
Image Source: Future Automotive Pioneer Conference
From the perspective of price segments, million-level Chinese luxury cars surpassing century-old luxury brands was almost unimaginable five years ago.
Xing Xinchu attributed this to the path choice of "redefining luxury with technology": "The Maextro brand is not simply copying the development path of traditional luxury cars, but rewriting the narrative paradigm of ultra-luxury car brands with technological innovation."
Nio represents another path worth examining.
On June 1st, Nio announced the latest delivery data: Deliveries in May totaled 37,705 units, a significant year-over-year increase of 62.3%, and a month-over-month increase of 28.4%, setting a new record for single-month deliveries in the brand's history.
The main brand "Nio" delivered 20,013 units, a 50.8% year-over-year increase; the brand "Onvo" positioning the family market performed particularly well, delivering 12,029 units, a 91.5% year-over-year surge, and a month-over-month increase of up to 124.8%; the new brand "Firefly" delivered 5,663 units, a 53.9% year-over-year increase.
From January to May this year, Nio's cumulative new car deliveries have reached 150,526 units, a 68.7% year-over-year increase. At this point, Nio's historical cumulative deliveries officially broke through the 1.14 million mark, reaching 1,148,118 units.
Regarding financial reports, in Q1 this year, Nio's total revenue was 25.53 billion yuan, a 112.2% year-over-year increase, exceeding the revenue guidance upper limit of 24.48 billion to 25.18 billion yuan previously given by the company; total gross profit was 4.86 billion yuan, a 428.4% year-over-year significant increase; the company's comprehensive gross margin reached 19.0%, the highest in four years. Vehicle gross margin was 18.8%, growing quarter-over-quarter for four consecutive quarters, also the highest in four years. Other sales gross margin was 20.6%, also the best level in four years.
Regarding net loss, Q1 net loss narrowed to 332.1 million yuan, significantly narrowing from the net loss of 6.75 billion yuan at the same period last year. As of the end of Q1, Nio's cash reserves increased to 48.2 billion yuan, achieving positive operating cash flow for three consecutive quarters.
In Q1 2026, Nio brand's average transaction price reached 390,000 yuan, 50,000 yuan higher than BMW and 130,000 yuan higher than Audi.
Behind this price difference is a qualitative change in brand premium capability.
No less coincidentally, data shows that the average transaction price of the HIMA全系 series vehicles has remained stable at 390,000 yuan, ranking first in the average transaction price of Chinese car brands for several consecutive months, with performance in some periods surpassing traditional luxury brands.
In segmented brands, the AITO brand's average transaction price reached as high as 409,000 yuan, flagship model AITO M9 cumulative deliveries exceeded 280,000 units, ranking first in 500,000-level luxury SUV sales for 21 consecutive months. The Maextro brand positioning the ultra-luxury market also performed strongly, the first model Maextro S800 price range 708,000 - 1,018,000 yuan, deliveries exceeded 17,000 units in 11 months since launch, ranking first in ultra-luxury sedans above 700,000 yuan for 8 consecutive months, single-month sales even exceeding the total sales of multiple traditional top luxury sedans.
Image Source: Future Automotive Pioneer Conference
The logic behind these brands rising against the trend in price wars is not accidental: First, deep understanding of user value rather than simple spec stacking, second, extreme investment in new technologies forming tech premiums, third, forming systemic capabilities in manufacturing, supply chain, and quality, fourth, deep synergy with partners like Huawei forming technological leadership.
However, analyzing the financial performance of the above brands more deeply, a thought-provoking question emerges: Will the existence of these high-price, high-profit brands change the trend of the automotive industry's profit margin overall?
The answer may not be optimistic. Although Maextro S800, Nio ES8/ES9, and AITO M9 have achieved impressive results in their respective price segments, their share of overall industry sales remains limited.
In other words, the "local breakthrough" of high-endization has not yet reversed the "overall predicament" of the entire industry.
For most independent brands, the average car price is still below 150,000 yuan, and the main battlefield of price wars continues intensely in the mid-to-low-end market.
When most players are still struggling at the loss line, a few successful high-end brands cannot support the entire industry's profitability level.
The true test of China's automotive industry moving "from big to strong" is not whether it can produce one or two products that can rival the Mercedes-Benz S-Class, but whether it can achieve high-quality value creation universally across all categories and price segments.
Mercedes-Benz Sales in China Dropped 27%, Can Chinese Cars Smile Overseas?
When the smoke of price wars rises and falls in the domestic market, the overseas market is becoming China's new "second battlefield" for the next round of competition.
At this conference, multiple guests elaborated in-depth on the strategic layout and direction of China's automotive globalization. If domestic competition is about fierce struggle in the existing stock market, then global competition is a long-term bet on the incremental market.
Avatr's globalization practice provides a highly representative sample.
Wang Hui disclosed in the speech that Avatr has entered more than 40 countries and regions. Avatr 11's starting price in China is about 290,000 yuan, but overseas it is close to 450,000 yuan.
"In Thailand, we firmly hold the #1 spot in luxury electric SUV sales, and in Dubai we occupy 10% of the local high-end electric vehicle market share." Wang Hui said, "At the end of this year, we will officially enter Europe. Although we have been in overseas markets for about a year and a half, we have already achieved stable profitability. So future globalization is something that must be done."
Wang Hui also revealed the brand strategy of sponsoring the Portugal national team in the interview session. He stated that Avatr's main products in Europe will fully enter Europe in November and December. He will go to Europe to communicate with partners in multiple countries. "Sponsoring the Portugal national team is just one of our actions at the Europe brand level. What we adhere to in Europe including globally is long-termism. Besides the brand side and product side, greater resource investment is in the service side, system side, and construction of operational capabilities."
Geely's globalization layout is more macroscopic and systematic.
Geely Automobile Group Vice President Li Chuanghai pointed out that the "most essential thing about China's automotive globalization is not low-price volume, but technology as the root, system as the foundation, brand as the soul, ultimately completing globalization from selling cars to defining the future of cars".
Image Source: Future Automotive Pioneer Conference
He introduced that Geely has operated globalization business for 20 years, owning 5 R&D centers, 16 test bases, with deep integration of local partners in Europe, Southeast Asia, Middle East, Latin America, and Eastern Europe. Geely has participated in co-building international standards and is the first Asian car manufacturer in IATF with board voting rights.
In the dimension of car exports, data from April 2026 also provides an important reference.
In April 2026, car exports reached 901,000 units, a 74.4% year-over-year increase, among which new energy vehicle exports increased by more than double year-over-year, reaching 430,000 units. The overseas market has become the most important incremental engine for China's automotive industry.
However, while export growth is gratifying, a comparative data worth examining is: In Q1 2026, Mercedes-Benz Group sales in China were 111,600 units, a 26.9% year-over-year decrease, becoming the region with the most significant decline among its major global markets. Meanwhile, financial reports showed Mercedes-Benz Q1 revenue was 31.602 billion euros, a 4.9% year-over-year decrease; net profit was 1.433 billion euros, a 17.2% decrease; global sales were 499,700 units, a 6% year-over-year decrease.
This set of numbers reflects both the challenges Mercedes-Benz encountered in the China market, and poses a question: When Chinese brands take root in the overseas market, in what posture will they face global competition?
Chinese cars are replicating the dilemma BBA faced in China's domestic market: When local brands continuously conquer territory through technological advantages and high cost-performance ratios, powerful international brands may also encounter strong counterattacks from local brands in other markets.
When Mercedes-Benz China Senior R&D Executive VP Drummond Jacoy was asked how he views China's new luxury brands, his answer was cautious yet with a hint of urgency: "China has many very excellent brands and products, I respect them very much. We are vigorously embracing technological innovation, continuously learning, and blending cutting-edge technology with brand accumulation."
Image Source: Future Automotive Pioneer Conference
He particularly emphasized that Mercedes-Benz has already carried out deep cooperation with Chinese tech companies in China, from ByteDance and Tencent to Momenta, from Amap to Spark, Mercedes-Benz is trying to narrow the intelligent technology gap with China's local enterprises in unprecedented ways.
This just reveals the new trend of global competition: The battlefield has expanded from China's domestic market to the global market, and the core focus of competition has evolved from single-product competition to all-round competition covering technology, ecosystem, supply chain, and brand.
In Li Chuanghai's words: "Going out is not difficult, standing firm, integrating, and taking root is the real skill."
True globalization is by no means simply copying domestic products and price models overseas, but achieving deep and comprehensive integration from capital to technology, from standards to supply chain.
Leapmotor's strategic layout also echoes this judgment. Leapmotor Founder Zhu Jiangming once publicly disclosed Leapmotor's globalization goals. Zhu Jiangming believes the first step is to achieve a "40-60 split", China accounting for 60%, overseas accounting for 40%; next, strive for a "50-50 split"; the most ideal state is "reverse 40-60". If China's automotive global share can achieve 40% domestic and 60% overseas, that is the best state of true globalization.
From "selling products" to "building systems", this is the threshold China's automotive globalization must cross. In the next three to five years, whoever can first form a viable and sustainable profit model in the overseas market will seize the initiative in the long-term race of globalization.
Conclusion: Car Manufacturers Must Make Money
Back to this conference's theme — "Climbing Steps".
China's automotive industry has completed a leap from catching up to leading in 20 years. There are no short cuts on this road, every step is trodden out. But today, China's automotive industry faces an awkward dilemma: Its achievements in volume have reached the peak, global largest car producer, global largest new energy market, globally leading intelligent technology cluster, but breakthroughs in quality are only just beginning to show signs in local areas.
Industry profit margins dropping through 3.2% means the red light for industry health has already lit up.
When most enterprises have exhausted profits in price wars, who will still have enough funds to invest in R&D for next-gen technology, brand reconstruction, and globalization expansion?
From Wang Hui's "Sales without profit are fake sales", to Xu Jun's "Everyone can lower prices, cutting costs is the real skill", to Li Chuanghai's "Keeping direction in the no-man's land", the most valuable consensus of this conference might just be this common sense as simple as it is: The competition of the automotive industry is a war of attrition, not a blitzkrieg.
As Xing Xinchu said: "On the road of breakthrough in high-endization of Chinese brands, there are no lone heroes, only symbiotic evolution."
When the penetration rate of 61.4% and the profit margin of 3.2% are written on this page of the industrial picture at the same time, the answer is already clear enough: China's automotive industry must move from pursuing "getting bigger" to a new stage of "getting stronger".
The issue is not whether it can sell cars to the million-level, but when the price war burns out the last bit of profit, whether the entire industry can still stand steadily on every step of "Climbing Steps".
Have you ever seen the roads in India?
I've seen them online.
The scene is usually like this: a sedan blocked behind a cow, motorcycles running wild nearby, even milk tea vendors nearby, so "clean and hygienic".
However, in a place where many feel physically uncomfortable after watching, Toyota, Suzuki, Honda and other Japanese car companies decided to bet on India.
According to the Indian "Brand Quality Foundation" website, the three car companies will invest nearly $11 billion to build factories, increase capacity, and develop exports in India.
Some netizens commented: Did the three Japanese car companies have too much money?
In fact, they didn't have endless money to spend, nor were they bewildered by Indian curry. These Japanese car executives are much clearer than us.
Current Japanese car revenue and market share are declining. Raw material costs are soaring. Looking at the world map, finding a market that can accommodate capacity, expand share, and has gentle competition is not easy.
So, it wasn't that Japanese car companies chose India, but because they had no choice.
The Pain of Japanese Car Companies
Past Japanese cars were truly the envy of others.
Ask old drivers who drove Japanese cars over ten years ago, talking about Japanese cars, almost no one doesn't give a thumbs up, cheap price, fuel saving, durable...
Even many Japanese cars needed to be bought at a markup, but who would think this iron fortress would be beaten out of sight in a few short years.
With the wave of new energy vehicles coming, electrification and intelligence became the goal for many domestic car companies to "leapfrog". Relying on China's strong new energy vehicle industry chain advantages and car companies' own persistence on R&D and technology, Chinese independent brands quickly achieved "leapfrogging".
Domestic cars once criticized are now becoming more and more common on the roads, even surpassing joint ventures in share.
According to CPCA data, in April 2026, the share of independent brands reached as high as 62.5%, far exceeding Japan's 13.1%.
You need to know, the Chinese car market is the largest car market in the world. Losing speed in the Chinese market is like losing a huge piece of cake.
Meanwhile, the main theme of the Chinese market in recent years is still price wars. Racing on configuration, price, and service has become a normal state, which also had a huge impact on Japanese cars' profits.
Apart from China, Japanese cars are also not doing well in the US.
On January 20, 2025, Trump swore in as the 47th US President, starting a series of chaotic operations, including imposing additional car tariffs in the name of national security, causing the tariff rate for imported Japanese cars to reach as high as 27.5% at one point. Although it decreased later, it was still far higher than the initial tax rate.
This operation directly led to a tariff loss of over 2 trillion yen for seven Japanese car companies in fiscal year 2025.
Looking at Japan itself, it is actually not easy either.
Middle East geopolitical conflicts blocked shipping in the Strait of Hormuz, transportation costs and raw material costs soared, Japanese car companies also had to suffer in silence.
Executives looking at the reports, their backs went cold, only to find a new growth curve.
So, Japanese car companies didn't fall in love with India, there was nowhere else to go.
Deep Thought on Choosing India
So, what magic does India have, to make Japanese car companies invest heavily?
The first advantage is big. In 2025, the Indian car market achieved 5.517 million new car sales, up 6% year-on-year, breaking the historical record, ranking as the third largest car market in the world, exceeding Japan for four consecutive years, second only to China and the United States.
The value of this doesn't need me to say much. India achieved this result mainly because India has been promoting tax reduction policies to promote consumption, which led to a significant increase in domestic consumption willingness.
The second advantage is close, meaning it is close to places where Japanese cars sell well, such as Africa.
So, India for Japanese car companies is more like a convenience store built in the center of a crossroad. You don't need to ship cars to eight countries separately, just build well at this stop in India, then unload ship by ship, and you can save a lot of costs.
The Nikkei also believes that India is expected to become its global car supply center.
The third advantage is stability. You know, Japanese cars' advantage is fuel cars, after all, the three major components of engines, gearboxes, and chassis, they have played for many years, technology accumulation is number one in the world.
But the Chinese car market has fully promoted electrification and intelligence development, leading to Japanese cars' advantage becoming weaker and weaker, impossible to play out. But India is different, it has the characteristics of few charging piles and slow electrification process. Indian old people buying cars still look for cheap, fuel saving, easy to fix, and these three points are exactly Japanese cars' old trade.
Especially Suzuki, always been India's car market evergreen, almost always sitting on the best-selling model throne, reputation of being worry-free, better than any advertisement.
So, Japanese car companies' vigorous layout of the Indian market is obviously carefully considered.
But, is the Indian market really that easy to mix?
The Hard-to-Bite Indian Market
Of course, India is not perfect like a hot commodity, its disadvantages are as obvious as its advantages, and every one is enough for Japanese car companies to face a hard time.
First talk about electrification. Yes, right now India has few charging piles and electric cars don't sell well, it is indeed a shelter for Japanese fuel cars. But you have to think, how long can this "shelter" avoid?
India previously shouted the slogan of 30% of new cars being electric vehicles by 2030. Although it sounds like bragging, but can't help but they really give subsidies, really build charging stations.
Imagine, what if one day India suddenly wakes up, starts vigorously promoting electrification, doing infrastructure, charging piles popping out like mushrooms after rain, then Japanese cars will be dumbfounded?
Isn't this a version of the Thai market?
Back then Japanese cars in Thailand won easily. The entire Southeast Asian market was called Japanese cars' backyard. Result Thailand took the lead in promoting electrification. Chinese electric vehicles came in, directly became a hot commodity. Look at Japanese cars again, share in Thailand falling down rapidly.
If India accelerates electrification, history will likely repeat, and this time, Japanese cars don't even have a place to flee, how to prevent will become the first problem for Japanese car companies.
Next talk about policy. India's policy is like a pot of curry, you never know if you will eat chicken or potato next time.
This magical country, today low tariff encourages building factories, tomorrow may fine you a huge amount. What's more annoying is mandatory joint venture. Foreign car companies want to sell cars in India, have to find local partners to partner up. When your factory is built, supply chain is done, India directly backstabs you. At that time whether adding money or withdrawing capital, what you get is heartache.
So you see, this market like India is like a mango that looks very sweet, bite the first mouth it's okay, chew two more mouths hit the hard core.
Japanese cars now is calculating, while the core hasn't bit the tooth, hurry up to nibble a few more mouths, but the core will bite sooner or later, just don't know which day.
Epilogue
Japanese cars this trip to India, not go for tourism, is go to make a living.
Chinese and Southeast Asian dining tables are more crowded, production and transportation costs have risen. Looking around the world, only this pot in India is still steaming, even if what is boiling inside is curry-flavored stones, have to bite hard and chew down.
Japanese car companies want to expand market, India wants to pull economy, solve employment, both sides have their own thoughts.
As for the ending is Japanese cars in India regain their glory, or like past competitors shamefully walk away, then is not known.
But no matter how, this play just started, we slowly watch is okay.
Anyway India's story, never bored.
呢係最好嘅時代，呢係最壞嘅時代。
近日，中國汽車流通協會數據發布咗一組令人揪心嘅數據，4 月中國汽車經銷商庫存預警指數為 62.1%，喺榮枯線之上；同時存貨係數亦喺上升，4 月汽車經銷商綜合存貨係數為 1.89。有業界人士指出，存貨長期高企會佔用經銷商營運資金，增加其利息支出同流動性風險，或會加劇經銷商同主機廠之間嘅矛盾。
唔單單如此，唔止乘用車遭重擊，中汽協發布嘅最新數據為商用車行業亦敲響咗警鐘——其整體存貨係數已升至 1.8 嘅警戒線以上，部分重卡細分市場存貨週期超過 90 日。為消化存貨，新一輪價格戰喺多個區域悄然打響，終端優惠幅度再度擴大。
作為長期關注汽車產業嘅媒體，汽車有文化喺呢場不斷蔓延嘅價格競爭中，睇到一個跨越 170 多年嘅歷史鏡像——1854 年，查爾斯・狄更斯喺《艱難時世》中寫落個被利益主導嘅「焦煤鎮」，從未真正消失。
喺全球汽車產業加速向新能源、智能化轉型，中國車企以前無人可比嘅速度駛向全球市場之際，ESG 建設早已唔係企業年報中可有可無嘅點綴，而係決定企業定唔定能穿越週期嘅核心能力。其中，供應鏈 ESG 更係連接產業上下游、決定行業健康度嘅關鍵環節。喺行業普遍陷入「以價換量」惡性循環嘅當下，福田汽車發布嘅 2025 年可持續發展報告，為我哋觀察中國商用車企業點樣破解工業文明嘅固有矛盾，提供咗一個值得深入分析嘅範本。
狄更斯式歷史嘅重演，同福田嘅破局起點
狄更斯喺《艱難時世》、《霧都孤兒》、《大衞・科波菲爾》等經典作品中，以近乎新聞紀實嘅筆觸，記錄工業革命初期嘅三大核心矛盾。其中，《艱難時世》中焦煤鎮嘅工場主為追求利潤最大化，將工人異化做機器嘅附屬品，展現咗資本逐利導致嘅價值扭曲；《霧都孤兒》裡底層兒童嘅悲慘命運，暴露咗勞動者尊嚴被系統性漠視嘅現實；《大衞・科波菲爾》中 10 歲嘅大衞喺洗瓶廠被剝削嘅經歷，則折射出早期產業鏈中，成本壓力單向向下傳導嘅殘酷邏輯。
呢啲 170 年前嘅矛盾，喺今日嘅汽車行業依然有清晰嘅投射。以本次探討嘅商用車行業為例，2024-2025 年，商用車市場嘅價格戰持續升級，部分細分市場車型終端降價幅度超過 10%。為維持自身利潤，部分頭部車企將降本壓力直接轉嫁俾上游，要求供應商年度降價幅度超過 10%。
呢種壓力層層傳導嘅結果係，傳統非核心零組件企業平均利潤率被壓縮至 3% 以下，大量中小企業喺盈虧線上掙扎，下游渠道端亦同樣承受壓力。中國汽車流通協會數據顯示，2025 年全國商用車經銷商虧損面達 52.6%，新車銷售業務利潤貢獻為 -22.3%；而處於產業鏈最末端嘅貨車司機，更加係承受住運價持續下跌嘅壓力，部分短途城配路線運費已跌至 0.8 元/公里，中長途幹線運輸平均運價較 2020 年下降 42%。
呢種「上游擠利潤、下游壓價格、終端受擠壓」嘅模式，正喺侵蝕整個行業嘅長期競爭力。當然，福田汽車同樣身處呢個行業大環境中，其 2025 年嘅海外出口 16.4 萬輛，創下歷史新高，但亦面臨住歐盟 CBAM 碳關稅、歐美市場日益嚴格嘅供應鏈 ESG 審查等多重挑戰；喺新能源轉型過程之中，行業平均三電系統成本佔比超過 40%，亦同樣面臨住降本壓力。
但與多數企業唔同嘅係，福田汽車冇選擇將壓力單向轉嫁俾產業鏈上下游，而係將全鏈條 ESG 建設作為破局嘅核心抓手，試圖探索一條更可持續嘅發展路徑。
福田嘅實踐，用全價值鏈共贏回應歷史命題
狄更斯作品嘅當代價值喺於，佢始終提醒我哋發展嘅終極目的係人，而唔係利潤。福田汽車構成嘅覆蓋「上游供應商 - 中游製造 - 下游經銷商 - 終端用戶」嘅全價值鏈 ESG 體系，恰好回應咗狄更斯當年提出嘅三個核心命題。
針對資本逐利導致嘅價值扭曲，福田透過綠色協同構建共生型供應鏈。據悉，公司建立咗供應商全生命週期 ESG 管理體系，將環境、社會同治理指標納入供應商准入、審核、評價同退出嘅全流程。2025 年，福田完成咗 58 家綠色供應商認證，覆蓋引擎、變速箱、車橋等核心模塊。
同單純壓低採購價格唔同，福田透過技術賦能同資源共享協助供應商降本增效，其中最具代表性嘅係供應商屋頂光伏計劃，2025 年協助 283 家供應商建成咗總計 1901 兆瓦嘅光伏發電設施，直接降低咗合作夥伴嘅能源成本，同時推動咗整個產業鏈嘅低碳轉型。
針對產業鏈利益分配失衡，福田則透過生態賦能打造利益共同體。面對經銷商普遍面臨嘅生存困境，福田喺 2025 年完成咗 1658 家經銷商嘅轉型培訓，創新推出「生態店、智慧店、零售店」三級渠道體系，並建成 8 家經銷商生態港。
呢個體系幫助經銷商從單一嘅整車銷售商，轉型為集「銷售 + 充換電 + 二手車 + 租賃 + 維修保養」於一體嘅綜合服務商，為佢哋開拓咗多元盈利渠道。同時，福田同所有供應商簽訂《廉政承諾書》，建立咗相對公平透明嘅合作機制，保障咗產業鏈各環節嘅合理利益。
此外，針對勞工尊嚴嘅缺失，福田將人本關懷貫穿全鏈條。喺企業內部，福田推行工學改善計劃，喺輪胎組裝、電池安裝等重體力崗位引入定製省力機械臂同液壓升降台，令重型物料手動搬运量同比下降 30%。
喺供應鏈端，福田要求所有供應商嚴格遵守勞動法規，2025 年重點供應商合規同質量培訓覆蓋率達 100%。喺終端，福田透過捐贈支持「貨車司機護航」專項行動，關注物流從業者嘅生存狀況。呢啲措施，體現咗企業對產業鏈上每一個勞工嘅尊重。
以人為本，中國汽車出海嘅正確姿態
事實上，隨住中國車企加速全球化佈局，我哋面臨嘅並非只係「價格為王」嘅競爭格局，而係正進入一個「合規即競爭力」嘅新時代。
歐盟《企業可持續發展盡職調查指令》(CSDDD) 明確要求，企業必須對其整個供應鏈嘅人權同環境影響負責，違規者將面臨全球營業額 5% 嘅罰款；2026 年正式實施嘅歐盟碳邊境調節機制 (CBAM)，更加係將碳排放成本直接納入進口商品嘅價格體系。這意味著，傳統依靠低成本擴張嘅發展模式已經難以為繼，供應鏈 ESG 能力正成為中國車企進入國際市場嘅通行證。
福田汽車嘅前瞻性佈局，使其喺全球化競爭中获得咗一定嘅先發優勢。據悉，透過全價值鏈 ESG 建設，福田提前滿足咗主要海外市场嘅合規要求：喺歐洲，福田純電動輕卡、VAN 車型獲得 WVTAEU 整車型式認證，呢係歐洲市場嘅最高門檻之一；再加上歐盟重型車碳排 VECTO 認證，呢就意味著福田嘅碳數據已經得到咗歐洲監管機構嘅認可，成功駛入歐洲綠色交通體系。
除此之外，福田汽車亦深深獲得咗全球合作夥伴嘅認可：喺泰國、巴西、南非嘅本土工廠順利投產，全球第 1200 萬輛整車喺巴西工廠下線；喺澳洲同非洲市場，福田獲得咗批量新能源客車訂單；喺中東，向沙特客戶集中交付咗 1000 輛定製校車。
有行業分析人士指出，福田汽車嘅模式為中國商用車行業提供咗一個重要參考，供應鏈 ESG 唔係企業嘅成本負擔，而係提升產業鏈韌性同長期競爭力嘅有效手段。當企業唔再將上下游視為博弈嘅對手，而係視為共同成長嘅夥伴時，其發展嘅成果先能夠被產業鏈上嘅每一個參與者共享，整個行業先能夠實現真正嘅高質量發展。
有文話：
「呢係最好嘅時代，呢係最壞嘅時代。」狄更斯呢句名言，依然適用於今日嘅中國汽車產業。我哋擁有全球最大嘅汽車市場、最完整嘅產業鏈體系同最領先嘅新能源技術，呢係最好嘅時代；但係我哋亦面臨住價格戰內卷、供應鏈矛盾突顯、全球化合規壓力增大等多重挑戰，呢係最壞嘅時代。
170 年過去，工業文明嘅技術形態發生咗翻天覆地嘅變化，但點樣平衡資本逐利同社會公平，點樣令發展嘅成果惠及每一個人，依然係我哋需要回答嘅根本問題。福田汽車嘅實踐話畀我哋知，ESG 唔僅係數字報告，而係一種更具溫度、更可持續嘅發展理念。當越來越多嘅中國車企將以人為本嘅理念深植喺供應鏈建設之中，我哋唔單止能夠打造出更具競爭力嘅產品，更加能夠向世界輸出一種更加公平、更具包容性嘅產業文明，令中國汽車以「中國方案」真正響誉全球。（撰稿人丨歐陽）
2026 年對阿維塔嚟講，日子唔好過。港股招股書剛滿 6 個月自動失效本就引來唔少懷疑，一季度銷量唔佳以及 4 月單月同比暴跌嘅現實情況，更加令不少人認為，呢個背靠長安、華為、寧德時代三大巨頭嘅品牌，係咪已經「唔得」咗。咁，呢個曾被認為潛力無限嘅高端品牌，到底仲係咪可以「翻盤」呢？
銷量斷崖式下跌，問題出喺邊？
2025 年仲被認為接下來會風生水起嘅阿維塔，進入 2026 年以來，就一直喺「跌跟斗」。據乘聯會數據，2026 年第一季度阿維塔累計交付 11392 輛，同比暴跌 53.5%，跌幅幾乎係行業均值嘅兩倍，單月銷量仲未夠去年峰值嘅四成。如果同同期嘅理想、零跑、小米等品牌相比，差距更加係肉眼可見。
話佢哋背靠大樹好乘涼，而作為一個背靠長安、華為、寧德時代三巨頭嘅高端品牌，阿維塔點解會咁快「掉隊」呢？其實，看看阿維塔如今嘅表現，唔難發現問題。阿維塔一開始有「三巨頭」站台，「長安實力 + 華為智駕 + 寧德時代電池」三大賣點拎出嚟，還是能夠吸引一大班消費者購買。
但係而家，華為嘅技術幾乎成為全行業嘅「公共資源」，寧德時代嘅電池亦都唔係阿維塔獨有，長安仲有其他品牌需要兼顧，原本「鐵三角」嘅獨家光環逐漸被淡化，阿維塔自然冇辦法輕鬆獲得消費者支持。
當然，阿維塔可以靠自己完善嘅產品矩阵，優秀嘅服務嚟籠絡客戶。可惜嘅係，阿維塔似乎暫時仲冇呢個能力。一方面，阿維塔卡喺非常卷嘅一個價格帶，特斯拉、比亞迪、小米、極氪等品牌各有各嘅自留地，尚未打上清晰標籤嘅阿維塔想打入去实在太難。
而產品端嘅「極速換代背刺」又令用戶傷透咗心。去年發生嘅「背刺事件」相信唔少人仲有印象，阿維塔 12 四激光版上市唔久，品牌便推出搭載 896 線雙光路激光雷達、智駕性能大幅升級嘅新車型，老車主車輛瞬間貶值，二手車折價率高達 35% 至 40%，引發大規模用戶投訴與口碑崩壞。再加上 2026 年阿維塔嘅新品遲遲無上，產品節奏「斷檔」，消費者興趣寥寥，一季度嘅銷量難以為繼。
四年換咗三個董事長，呢仗點打？
銷量下滑只係表面問題，管理層持續動盪或許係早已埋落嘅「雷」。唔知大家留意到冇，由 2021 年到而家，阿維塔已經換咗三任董事長。佢係譚本宏，然後 2023 年底朱華榮親自上陣，到 2025 年 9 月，「80 後」王輝接棒，等於四年三換帥。
譚本宏時期，阿維塔走嘅係純電高端路線，結果 2023 年全年只賣咗 2.76 萬輛。銷量唔太行，阿維塔冇畀太多機會，直接換咗朱華榮接手。朱華榮嘅思路同前一任並唔相同，其上任後即刻轉向，全系上增程，並將價格下探到 20 萬級別，銷量確實拉上咗，但也背咗「降級」嘅質疑。到咗王輝呢度，開始談「反內卷」「價值躍遷」，推動「戰略 2.0」。
或許換帥嘅本意係為咗品牌越來越好，但唔同高層嘅管理理念、決策等都唔會一樣，如此頻繁地換高層，對品牌嘅影響都係顯而易見。而呢度嘅唔同亦都折射出阿維塔嘅「三角治理」問題，都知道阿維塔背靠三位大佬，但似乎好少有人諗過，利益訴求各唔相同嘅三位「大佬」，會唔會因為側重點唔同而影響阿維塔嘅正常「航線」。
每一任董事長背後站嘅係唔同嘅股東邏輯，阿維塔一會兒喺 30 萬以上「高舉高打」，一會兒推 21.99 萬嘅阿維塔 07 下探市場，過一陣新款可能又提價咗。這種反覆搖擺是否受到唔同決策者嘅影響，我哋唔知。但一個自己都搖擺唔定嘅品牌，要喺高端市場「打仗」，似乎並唔令人產生太大信心。
海外賺錢咗，但未必能「救命」
雖然國內一地雞毛，但阿維塔嘅海外業績倒係唔錯。2024 年 9 月啟動全球化以來，阿維塔已經進入 40 多個國家同地區，而且喺好幾個市場已經實現穩定盈利。喺泰國，阿維塔 11 起售價約 44.7 萬人民幣，長期霸佔高端純電銷量榜第一；喺阿聯酋，佔咗當地高端電動車 10% 嘅份額；喺新加坡，阿維塔 11 賣到 156 萬人民幣，銷量仲喺升。從佢哋海外成績上看，阿維塔嘅打法算得上成功。
但係問題係，海外呢啲量，能夠扭轉阿維塔接下來嘅局面嗎？目下睇，可能冇咁樂觀。阿維塔 2026 年海外目標 5.5 萬輛，希望到 2030 年海外佔比 40%，呢個諗法聽住唔錯，但阿維塔要真正走出虧損泥潭，月銷量要拉到 2 萬輛以上先有規模效應。海外呢啲體量，放喺更大嘅盤子度睇下，分量遠遠唔夠。
再看造血能力，阿維塔 2024 年虧損 40.18 億元，2025 年上半年虧損 15.85 億元，三年半累計虧損超過 113 億元。就算海外一年賺幾個億，面對每月虧損幾億嘅國內業務，海外嗰點利潤，可能連國內虧損嘅零頭都填唔上。
這唔係話阿維塔出海冇價值，高端定位、品牌溢價、差異化路線，呢啲方向都啱。但對於一個 2026 年一季度銷量腰斬、IPO 暫緩、百億虧損壓頂嘅品牌來說，海外而家只係加分項，好難當做救命稻草。換句話說，真正嘅翻身仗，仲係要喺國內打。而今年已經過咗幾個月，阿維塔接下來想「翻身」，恐怕都冇咁簡單。
結語
阿維塔嘅底子並唔薄，三家行業巨頭背書，海外市場亦喺持續發展，技術儲備亦都唔缺，基礎都係好好。只不過，市場競爭都幾激烈，畀阿維塔嘅窗口期越來越窄。返返頭嗰個問題：阿維塔點先可以翻身？呢個問題嘅答案而家仲未肯定。但可以預見嘅係，一季度銷量腰斬，百億虧損擺喺度，IPO 暫緩，市場競爭一日比一日狠，如果佢下半年打唔出新嘅爆款，呢啲「變量」都會壓到品牌喘唔到氣。
