Mars Financial News. Citic Securities Investment Research Report said that from March 1 to 22, wholesale volume was 1,084,000 units, up 62% month-on-month compared with the same period last month. The signal of the bottoming out of market conditions is clear. Aiyue M6 and Shangjie Z7/Z7T have opened pre-sales, both standard with a 896-line lidar. Under the acceleration of high-end intelligent driving features being rolled out, Xiaoma’s 2026 target is 3,000 Robotaxis, with a domestic plan to enter 20 cities and overseas plans including Croatia, the United Arab Emirates, Luxembourg, and South Korea. Wenyuan’s 2025 Robotaxi revenue is 150 million yuan, up 209.6% year-on-year. It has already been deployed across 12 countries and more than 40 cities, and the industry’s trend toward commercialization and large-scale adoption continues to advance. This year, multiple facelift and replacement models have appeared with a trend of “price increases with added features,” such as BYD’s new battery plus fast charging; the Aiyue M9 and Zunjie S800 adding lidar; Xiaomi upgrading batteries, motors, and compute power, with low-end trims filling in the lidar and high-end trims adding features such as optical-sensing panoramic sky. Driven by “anti-price wars” and “proportion-based subsidies,” the average retail price of passenger cars is expected to stabilize and rebound.
中信建投：乗用車の景気回復が持続、モデルチェンジで「価格上昇と装備増加」の傾向
Mars Financial News. Citic Securities Investment Research Report said that from March 1 to 22, wholesale volume was 1,084,000 units, up 62% month-on-month compared with the same period last month. The signal of the bottoming out of market conditions is clear. Aiyue M6 and Shangjie Z7/Z7T have opened pre-sales, both standard with a 896-line lidar. Under the acceleration of high-end intelligent driving features being rolled out, Xiaoma’s 2026 target is 3,000 Robotaxis, with a domestic plan to enter 20 cities and overseas plans including Croatia, the United Arab Emirates, Luxembourg, and South Korea. Wenyuan’s 2025 Robotaxi revenue is 150 million yuan, up 209.6% year-on-year. It has already been deployed across 12 countries and more than 40 cities, and the industry’s trend toward commercialization and large-scale adoption continues to advance. This year, multiple facelift and replacement models have appeared with a trend of “price increases with added features,” such as BYD’s new battery plus fast charging; the Aiyue M9 and Zunjie S800 adding lidar; Xiaomi upgrading batteries, motors, and compute power, with low-end trims filling in the lidar and high-end trims adding features such as optical-sensing panoramic sky. Driven by “anti-price wars” and “proportion-based subsidies,” the average retail price of passenger cars is expected to stabilize and rebound.