金吾财讯 | 国泰海通发研报指，5月批发销量同环比增长，库存下降11万辆。5月乘用车批发销量231.0万辆，同比+12.8%，环比+5.5%；1-5月累计批发销量1078.4万辆，同比+11.5%。5月乘用车厂商加渠道的总体库存下降11万辆(24年同期下降9万辆)；1-5月行业总体库存较去年同期持平，改变了过去2年1-5月持续降库存的特征。5月新能源渗透率52.6%，EV销量同比增速高于PHEV。5月新能源乘用车批发销量121.6万辆，同比+33.0%，环比+7.0%；1-5月累计批发销量520.0万辆，同比+40.0%。5月新能源渗透率52.6%，同比+8.0pct，环比+0.9pct。分动力形式看，5月EV同比+37.7%，环比+4.4%；PHEV同比+20.1%，环比+6.5%；REEV同比+46.7%，环比+29.4%。1-5月EV累计同比+41.0%，PHEV累计同比+42.1%，REEV累计同比+26.3%。重点车企供给驱动新能源乘用车出口同比+81%。5月乘用车出口(含整车与CKD)44.8万辆，同比+13.5%，环比+6.0%，1-5月乘用车厂商出口200万辆，同比+3.0%。其中，新能源乘用车出口20.0万辆，同比+80.9%，环比+5.8%，占乘用车出口的44.6%，同比+16.6pct。该机构表示，“两新”政策下5月国内汽车消费表现不错，建议关注自身处于新车周期及智能化领先的车企。
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