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。

On November 15, 1977. A customized gas-powered Fairmont Futura rolled off the line at the New Jersey plant. This was Ford's 100 millionth vehicle produced in the US. Under the pressure of the CAFE mandate, the influx of Japanese cars, and controversies over excessive cost-cutting, Ford decided not to sell this car. Instead, it used it to kick off a cross-coast tour to celebrate.

When the Detroit Three and Toyota were staging a showdown of the century in the world's largest auto market, a bold idea appeared on the banks of the Huangpu River, 11,460 kilometers away. The accumulation of handmade Phoenix sedans became the momentum for Shanghai-brand sedans entering a steady development phase. Even with an annual output close to 3,000 units, this still could not meet the soaring demand. The concept of adopting Ford's assembly line operations for China's sedan production was brought back to the agenda.

Joint venture cooperation with transnational automakers became the most realistic option. Across the domestic automotive industry, there was only one place capable of mass-producing sedans and having an assembly line: Shanghai. Next, the story of China's auto industry entered the SAIC Volkswagen (now known as: SAIC Volkswagen) era. Amidst the acclaim of "driving a Santana anywhere is safe", transnational car companies rushed to China to seek fortune. The craze of sedans entering ordinary households caused the world's largest auto market to shift accordingly. After the fierce competition of the fuel vehicle era, the machine changing the world gradually switched to the smart-electric track.

On the afternoon of May 28, 2026. Inside the World Living Room of North Bund, Shanghai. SAIC Group Chairman Wang Xiaoqiu handed an IM LS9 Hyper exclusive custom model to Momenta CEO Cao Xudong. Applause erupted, they shook hands, and SAIC Group's 100 millionth vehicle delivery was frozen in time. Over 70 years of vehicle building journey converged in the giant waves of Shanghai's new era, making SAIC the first Chinese vehicle group to enter the global 100 million-level auto camp: Leading the charge at the forefront of the tide.

In January 1997. Toyota welcomed its 100 millionth car after 50 years. Cross Ford's assembly line operations, Toyota used its unique lean production method to pull the efficiency of the fuel vehicle era to the peak. In the shadow of the Heisei recession and the Asian financial crisis, Japanese cars completed the disassembly of the Euro-American auto myths. Amidst a chorus of praise, Toyota did not indulge in the steel dividends piled by 100 million fuel vehicles. Less than 10 months later, Toyota shocked the world again. The Economist wrote at the turn of the century: When Detroit was still obsessed with the roar of large-displacement SUVs, this Eastern automaker knocked on the door of green and low-carbon early with the Prius.

Now, SAIC IM LS9 Hyper is accelerating the transformation of the auto world with a Chinese way. This car is equipped with the next-generation Star Super Extended-Range Power System, the next-generation Full-Line-by-Wire Four-Wheel Steering System, and the next-generation Intelligent Driving Technology. Every item points to the highest standards of the next generation of electric vehicles. It is both the culmination of SAIC's 70 years of vehicle building foundation and technology, and more importantly, a declaration of China's new energy to the auto world. If the Prius was a gentle reform of the fuel vehicle order, then SAIC IM LS9 Hyper is a breakthrough reshaping of the global automotive gravitational field. Chinese Academy of Engineering academician Wu Wangxing said that LS9 Hyper implants China's original endogenous safety system into the car, which is a very important highlight moment for the whole world: it is the flagship benchmark for the Chinese automotive industry entering the "Fourth Generation Electric Vehicle" era.

Looking back, from a golden phoenix hatched from a grassy nest, to SAIC Volkswagen taking root in Anting, to SAIC GM rising in Pudong, MG, Roewe, IM, Wuling, Baojun, Maxus, etc. have become the backbone of independent brands, Shangjie and Huajing are forging new roads for vehicle building; from fuel vehicles to pure electric; from passenger cars to commercial vehicles; Shanghai's open-mindedness that accepts hundreds of rivers has made SAIC Group different: no technical walls, no ecological islands.

In May 2005. With a silver Touran rolling off the production line, Wolfsburg's 100 millionth car pushed the Volkswagen brand to the 100 million automobile brand club. It is the highest harvest of human mechanical manufacturing system on hardware replication consistency. The golden age of China's automobiles provided even richer dividends for Volkswagen. Crossing the threshold of 100 million automobile scale has never been in the soil of coincidence. In the slice of auto history, it corresponds to three hardcore indicators: anti-risk ability in the face of external changes, industrial consistency under a modern manufacturing system, and strategic agility.

20 years later, these three hardcore indicators welcome a redefinition of smart electrification. Entering 2026, the new energy penetration rate of China's auto market continues to climb. Among them, the penetration rate of passenger cars in April broke through 60 percent for the first time. Standing at the new starting point of cumulative 100 million vehicles, SAIC Group has demonstrated strategic agility in capability output to the global auto market.

This May, SAIC Group's vehicle sales reached 349,000 units, continuing to hold the top position in the industry. In the first five months, independent brand cumulative sales reached 1.173 million units, up 8.6% year-on-year; new energy vehicle sales reached 595,000 units, up 13.2% year-on-year; overseas market sales reached 589,000 units, up 45.9% year-on-year. Independent joint ventures, passenger and commercial vehicles, domestic and overseas working in the same direction, promoting SAIC to continue upward while navigating the cycle.

It is worth mentioning that SAIC's joint venture new energy sector also welcomed new growth points. Joint venture new energy made a strong comeback in May. SAIC GM's new energy vehicle sales in May reached 13,000 units, up 75% year-on-year, with Zhijing E7 deliveries breaking 10,000 in its first month after launch. SAIC Volkswagen's new energy vehicle sales in May reached nearly 10,000 units, up 34.3% year-on-year; the newly launched ID.ERA 9X cumulative deliveries exceeded 7,000 units.

SAIC GM Buick's Series 7 models adopt the locally self-researched Xiaoyao Super Architecture, with the Zhenlong Hybrid Power System. From the three-electric system to high-level intelligent driving with LiDAR redundancy, the underlying R&D logic is realized through localization. SAIC's technology output allowed the Buick brand to be reborn. SAIC Volkswagen's flagship SUV model for the Volkswagen brand, ID.ERA 9X, and Audi's AUDI E7X, are all aggregating global resources and precisely customizing for Chinese users' smart-electric needs.

At this year's Greater Bay Area Auto Show, the AUDI E7X officially launched with a starting price of 269,800 RMB, becoming a new answer for BBA solving the China puzzle. With the dense landing of these models, the cooperation between SAIC Group and General Motors and Volkswagen has completed a transgenerational transition from introducing technology to joint development, to the current "Joint Venture 2.0". Volkswagen's 100 million units in 2005 was built on the fuel dividends of 23 million Golfs and 13 million Passats, erecting the peak of hardware replication consistency.

SAIC Group's 100 million units in 2026, one of its most core contents, is through its own technology and architecture output, restructuring the cooperative division of labor of joint venture brands. This has become the optimal solution for transnational automakers to establish themselves in the Chinese market. This round of new energy transformation in the global auto industry is stormy with uncertainties. Holding the trump cards of technology, SAIC has gradually established a position as a rule maker in the future smart-electric era: Ignore the sound of wind and rain through the woods; why not chant aloud and walk leisurely?

In September 2024. After 57 years of building the factory, a Hyundai IONIQ 5 produced at the Ulsan plant pushed its production record to 100 million. This is the Han River Miracle, a new narrative in the history of the world auto business. The Hyundai Motor Group, therefore, became one of the most globalized automakers. After the export volume of Chinese automakers climbed to the scale of 8 million units, Korea and Japan's auto export records were rewritten. The example of Hyundai and Toyota advancing globally has a new protagonist.

On May 30, 2026. After SAIC Group stood on the first 9-digit delivery volume, the first user of the next 100 million appeared in the UK. London doctor Natalia exchanged her grandfather's MGB from memory for the new generation MG4 EV Urban. The ticking pointer brings a new story. In Shanghai Pudong, in Jakarta, Indonesia, in Lantian, Shaanxi, in Singapore DHL Supply Chain Advanced Regional Center, in Taiyuan, Shanxi, in Hechi, Guangxi, the delivery of 15 brands under SAIC Group is laid out by the second.

Along with the alternating pictures on the screen, SAIC Group's Glocal strategy extends a new outline. It is no longer traditional commodity foreign trade and one-way export of products, but using the whole value chain's Chinese smart-electric core to comprehensively fit the specific lives of different global time zones: Every car of SAIC must turn China's best intelligent technology into steady happiness within reach for every family in the world.

In Oceania, MG's small cars rank at the head of the niche market; in Thailand, MG has become the most stable growing Chinese brand; in 7 countries of South America, MG's sales are approaching the 10,000 unit mark; in Europe, MG has held the European sales champion of Chinese brands for 11 consecutive years, and is also the first Chinese automobile brand with sales breaking 1 million.

In the first five months of this year, cumulative sales exceeded 150,000 units, up 20% year-on-year, continuing to lead Chinese brands. The glory of 100 million+, rushes forward along the Huangpu River. In London's rain, in Bangkok's sunset, in the waves of the Suez Canal, in every corner where Chinese smart-electric solutions take root, it is a new answer sheet of a more international SAIC Group: Stars hang low over the vast plains; the moon surges with the flow of the great river.