通用被比亞迪擠出全球銷量前五，利潤被趕超了嗎？

Ofweek維科網

02/02

導語 | Lead如果無意外，比亞迪和吉利進入全球車企銷量前十，比亞迪甚至超過通用，躋身全球前五。而名列前茅的跨國車企巨頭們，正面對中國車企在全球市場發起的猛烈進攻，如何應對是它們當下遇到的難題。本文出品|禾顏閱車工作室撰文|張大川編輯|禾子全文2653字閱讀需4分鐘全球的車市格局正在被改寫，通用汽車2025年的全球銷量被比亞迪超過。1月27日，通用汽車發布了2025年全年財報。全年銷量為...

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15:11","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2608535218","market":"hk","top_or_hot":-1,"title":"通用被比亞迪擠出全球銷量前五，利潤被趕超了嗎？","media":"Ofweek維科網","content":"<div>\n<p>導語 | Lead如果無意外，比亞迪和吉利進入全球車企銷量前十，比亞迪甚至超過通用，躋身全球前五。而名列前茅的跨國車企巨頭們，正面對中國車企在全球市場發起的猛烈進攻，如何應對是它們當下遇到的難題。本文出品|禾顏閱車工作室撰文|張大川編輯|禾   子全文2653字閱讀需4分鐘全球的車市格局正在被改寫，通用汽車2025年的全球銷量被比亞迪超過。1月27日，通用汽車發布了2025年全年財報。全年銷量為...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260202151305a4723433&s=b\">網頁鏈接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>通用被比亞迪擠出全球銷量前五，利潤被趕超了嗎？</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: 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href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260202151305a4723433&s=b\">網頁鏈接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260202151305a4723433&s=b\">Ofweek維科網</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999001226.SGD","symbol_name":"UNITED SUSTAINABLE ASIA TOP 50 \"A\" (SGD) ACC","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260202151305a4723433&s=b","article_id":"2608535218","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260202151305a4723433&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description 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Has its profit been overtaken?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"81211":0.6,"01211":1.96,"GM":1.94,"HYDD.SI":0.6,"002594":1.96,"BYDDY":1.96},"content_text":"導語 | Lead如果無意外，比亞迪和吉利進入全球車企銷量前十，比亞迪甚至超過通用，躋身全球前五。而名列前茅的跨國車企巨頭們，正面對中國車企在全球市場發起的猛烈進攻，如何應對是它們當下遇到的難題。本文出品|禾顏閲車工作室撰文|張大川編輯|禾   子全文2653字閲讀需4分鐘全球的車市格局正在被改寫，通用汽車2025年的全球銷量被比亞迪超過。1月27日，通用汽車發布了2025年全年財報。全年銷量為450.7萬輛，按年小幅下降1.5%；不過，其全年淨收入達1850億美元，調整後息税前利潤達127億美元。其中，調整後汽車業務現金流達106億美元。展望2026年，通用汽車預計調整後息税前利潤預計在130億美元至150億美元之間。△通用汽車的銷量和盈利能力依然表現不錯中國車市是一大變量在相繼撤出了歐洲和印度之後，中美兩個市場成為通用汽車的主戰場。不過，和通用汽車在美國市場一路高歌猛進不同的是，其在中國市場最近幾年的表現並不盡如人意。在2017年達到400萬輛的巔峯之後，通用汽車經歷了在國內市場的七連跌， 2024年銷量僅有180多萬輛。不過，這一切在2025年迎來了轉機，通用汽車去年在國內銷量近190萬輛，按年增長2.3%。值得一提的是，在2025年的銷量中，新能源汽車全年銷量近100萬輛，按年增長達到22.6%，成為通用汽車銷量增長的重要推手。作為通用汽車在國內的兩家合資車企，上汽通用去年銷量達到53.5萬輛，按年增長22.99%。雖然和巔峯時期全年200萬輛的成績相去甚遠，但是其已經明顯出現觸底反彈的跡象。其中，以別克GL8系列MPV車型的銷量超過12萬輛，按年增長23%，上汽通用在國內MPV市場的地位依然不可動搖；而全新發布的高端新能源子品牌 「至境」 旗下兩款車型至境L7和至境世家上市之後也已經取得不錯的反響，成為上汽通用在2026年持續提升銷量的關鍵所在。△上汽通用的銷量反轉是通用中國銷量止跌的關鍵因素此外，上汽通用五菱銷量為163.5萬輛（包括出口），按年增長6.2%。其中五菱宏光MINIEV家族全年銷量突破43.5萬輛，五菱繽果系列總銷量突破21萬輛。在國內入門級新能源汽車市場，上汽通用五菱的影響力依然不容小覷。△在國內入門級新能源汽車市場，上汽通用五菱的影響力依然不容小覷中國車企加速彎道超車對於國內車企來説，「趕英超美」將不再是口號。英國汽車工業已經衰落，除了捷豹路虎苦苦支撐外，只有超豪華品牌能夠在高成本的英國立足。而作為底特律的代表，克萊斯勒已經被Stellantis收入麾下，風光不再；從銷量維度來看，通用和福特在2025年已經被比亞迪超越。如果再考慮到比亞迪未來將持續發力海外市場，通用和福特要想重新趕上比亞迪會比較困難。至於吉利，根據吉利控股集團制定的「一個吉利，全面領先」2030戰略：到2030年，吉利控股集團全球銷量將突破650萬輛，未來也有望躋身全球汽車企業銷量前五。對於通用和福特汽車來説，當務之急就是要在美國市場之外找到一個新的增長點。之前中國汽車市場的高速增長，讓通用和福特都受益匪淺。但是在汽車「新四化」時代，通用和福特都錯失了轉型的黃金時機。相比於上汽通用的及時轉型，福特在國內始終沒有下定決心再度大規模投入。2025年長安福特在華批發銷量為12.15萬輛，而零售銷量只有9.94萬輛，和2024年的24.7萬輛下滑明顯。目前福特在國內的純電動車型只有Mustang Mach-E一款，在智能駕駛方面相比於上汽通用和Momenta的合作，福特也沒有什麼重要進展。光靠硬派越野這個相對小眾的市場，是很難幫助福特恢復之前127萬輛的成績。△福特在國內市場並沒有太多的舉措來重振銷量不過，對於比亞迪來説，接下來在短期內要超越身前的現代起亞集團有一定的難度，畢竟還存在300萬左右的差距，而通過在海外建廠，開拓銷售渠道來提升銷量，這需要一個過程。除非比亞迪像之前吉利收購沃爾沃一樣，可以在全球市場範圍內找到一個成熟的標的物並將其收購。那麼比亞迪才具備短時間內超過現代起亞的可能。至於吉利控股想要排到全球前五也不是一件容易的事情。雖然其和身前的通用和福特差距不大，但是要超過比亞迪，甚至要把Stellantis或者現代起亞中的一家拉下來，可能都還需要費不少功夫。△要超越現代起亞，無論是對於比亞迪還是對於吉利來説都還有難度自主車企盈利能力亟需提升當前，中國汽車市場產能過剩嚴重，導致車企的盈利能力堪憂。根據乘聯會發布的數據顯示，2025年，中國汽車行業利潤率為4.1%，按年下滑0.2個百分點，創歷史最低水平。其中，12月單月的利潤率更是只有1.8%。作為國內汽車行業的兩大巨頭，比亞迪和吉利雖然還沒有公布去年的財報，但根據這兩家2025年前三季度的財報來看，淨利潤還是落後於通用汽車。比亞迪 2025 年前三季度淨利潤約為 204.2 億元人民幣；吉利汽車2025年前三季度歸屬母公司淨利潤為131.10 億元人民幣。而同期通用的利潤為59.27億美元。據通用汽車最新的財報，其2025年雖然淨利潤只有27億美元，但是調整後息税前利潤達127億美元。之所以出現這樣的情況，主要還是因為通用在2025年計入了一筆超過72億美元的一次性虧損與減值。這筆減值主要是由於通用汽車電動車戰略調整導致的相關資產減值導致的，而通用汽車包括皮卡、SUV、金融業務、北美利潤中心在內的核心業務的盈利能力依然強勁。展望2026年，通用汽車預計淨利潤在103億美元至117億美元之間，調整後息税前利潤預計在130億美元至150億美元之間。△憑藉皮卡、SUV、金融業務、北美利潤中心等核心業務，通用汽車盈利能力依然非常強勁而對於比亞迪和吉利來説，要想提升盈利能力，首要就是要經營好高端子品牌。比亞迪的仰望、吉利控股的極氪、路特斯以及沃爾沃，都可以成為集團的利潤奶牛。但是，要做好高端品牌，除了擁有領先的技術外，品牌的調性打造更是對車企市場部門極大的挑戰。除了推出更加高端的子品牌，不斷衝擊更高端的市場外，加大海外市場的佈局也同樣非常重要。同樣一款車型，中國車企在海外市場可以賣出更高的價格。即便扣除運費和關税，對於國內車企來説依然獲利不菲。2025年，比亞迪出口量超過100萬輛，下一步有望穩步增長不成。吉利控股的規劃則是到2030年，海外市場銷量佔比超過三分之一。 ‌△比亞迪和吉利都要加強品牌高端化之路點評這兩年，以比亞迪和吉利為代表的中國車企的進步有目共睹，並且得到了全球車企巨頭的認可。下一步，不僅從銷量上，還要從盈利能力上實現對歐美車企的反超，這是中國車企要努力的方向。而要真正實現這個目標，比亞迪和吉利等中國車企未來要進一步提升全球市場的運營能力。畢竟，比起銷量，盈利能力對於企業而言是能證明自己實力的更重要指標。（本文系《禾顏閲車》原創，未經授權，不得轉載）","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}