零跑逆袭小鹏翻身小米跨界 2025年谁更得意？

GPLP犀牛财经2025-12-29

作者：kimsu2025年造车新势力的竞争远比想象中的更为激烈，有品牌遗憾掉队，有品牌黯然离场，也有从生死边缘强势回归的逆袭者、首战告捷震动行业的跨界者，成为2025年造车新势力中最“得意”的玩家，手握契合自身情况的制胜“王牌”。零跑汽车：2025年新势力中最大的惊喜在2025年的造车新势力中，零跑汽车堪称“黑马中的黑马”。相较于“蔚小理”，零跑汽车一度被视作边缘化的存在，2018年账面资金甚至...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251229172656a6dc7fd9&s=b><strong>GPLP犀牛财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作者：kimsu2025年造车新势力的竞争远比想象中的更为激烈，有品牌遗憾掉队，有品牌黯然离场，也有从生死边缘强势回归的逆袭者、首战告捷震动行业的跨界者，成为2025年造车新势力中最“得意”的玩家，手握契合自身情况的制胜“王牌”。零跑汽车：2025年新势力中最大的惊喜在2025年的造车新势力中，零跑汽车堪称“黑马中的黑马”。相较于“蔚小理”，零跑汽车一度被视作边缘化的存在，2018年账面资金甚至...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251229172656a6dc7fd9&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1719994722.HKD","symbol_name":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (HKD) 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Who will be more proud in 2025?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"81810":0.6,"MIUmain":0.6,"09863":1.94,"09868":1.93,"XPEV":1.93,"HXXD.SI":0.6,"01810":1.92,"XIACY":1.92},"content_text":"作者：kimsu2025年造车新势力的竞争远比想象中的更为激烈，有品牌遗憾掉队，有品牌黯然离场，也有从生死边缘强势回归的逆袭者、首战告捷震动行业的跨界者，成为2025年造车新势力中最“得意”的玩家，手握契合自身情况的制胜“王牌”。零跑汽车：2025年新势力中最大的惊喜在2025年的造车新势力中，零跑汽车堪称“黑马中的黑马”。相较于“蔚小理”，零跑汽车一度被视作边缘化的存在，2018年账面资金甚至仅能支撑3个月的运营。然而，凭借着“全域自研+高性价比”的精准战略，零跑汽车今年开启了一场华丽的逆袭，提前完成了50万辆的年销量目标，今年1-11月累计交付量达536132辆，目标完成度达到了107.23%。自今年3月以来零跑汽车已连续9个月保持增长态势，稳坐新势力销冠宝座。零跑汽车的“得意”离不开对成本的极致掌控。与多数新势力依赖外部供应商不同，目前，零跑汽车核心零部件自研自制率已达65%，覆盖电池、电驱、智能座舱等关键领域，既避免了被“卡脖子”的尴尬境地，又赋予了产品“好而不贵”的强大底气。凭借对关键成本的有效控制，零跑汽车将零部件环节让利给用户的同时，整车仍能保持14%-15%的健康毛利水平。这使得零跑汽车在主打“性价比”的同时还能实现盈利。在这个多数造车新势力都在为“赚钱”而发愁的时代，零跑汽车今年三季度净利润为1.5亿元，已连续实现季度盈利，并保持正向经营现金流与自由现金流。此外，产品矩阵的完善也让零跑汽车摆脱了“单爆款依赖症”，目前零跑汽车ABCD四大产品矩阵已全面落地，涵盖轿车、SUV、MPV等多品类市场，成功覆盖10万元以内到30万元左右的主流价格带。其中A系列主打6万-10万元入门市场，由即将推出的A10打头阵；B系列覆盖10万-15万元级的主流家用，由B10坐镇；C系列聚焦15万-20万元的中型SUV，强化智能驾驶体验；D系列则冲击高端市场，由D19打开市场。这种全品类覆盖策略，使零跑汽车能够满足不同消费群体需求，形成可持续的规模效应。小鹏汽车：打了一个漂亮的“翻身仗”小鹏汽车的“逆袭”故事同样精彩。两三年前，小鹏汽车还在质疑声中苦苦挣扎，2022年的那款小鹏G9直接将其拉入了谷底，很长一段时间，“掉队”成为小鹏汽车的标签，业绩表现也令人担忧，2023年净亏损高达108亿元，创下历史新高。然而，2025年小鹏汽车却实现了脱胎换骨式的逆风翻盘，上半年就以19.72万辆的累计销量超越了其2024年全年销量，前10个月更是以35.5万辆的交付成绩提前完成年销目标，结结实实地体验了一把“半路开香槟”的爽感。小鹏汽车业绩回暖，2025年第三季度，小鹏汽车实现营收203.8亿元，同比增长101.8%，创下单季度营收历史新高，整体毛利率首次突破20%，达20.1%，亏损额收窄至3.8亿元，盈利近在眼前。小鹏汽车的“重生”离不开“技术下放+价格下沉”，将高阶智能驾驶等前沿技术下放到15万元级市场，让智能驾驶从“卖点”变为了“标配”。值得一提的是，今年11月，小鹏P7+也迎来了上市一周年，其累计交付量已近8.8万辆，成为小鹏汽车当之无愧的销量支柱，且连续11个月位居15万-20万元级中大型纯电轿车销量榜首。除此之外，小鹏汽车2025年还正式启动了“一车双能”战略驶入增程赛道，首款搭载鲲鹏超级增程技术的车型——小鹏X9超级增程凭借“63.3度大电池+60L油箱+1602km综合续航”的核心优势备受关注。这款车于11月6日开启预售，首小时预售订单量达到此前纯电版同期的近4倍，市场热度可见一斑，未来或将成为小鹏汽车新的销量担当。小鹏汽车的“得意”还在于证明了自身核心技术的巨大商业价值。其长期以来重金投入的自动驾驶等AI技术终于结出硕果，与大众汽车的深度合作使其今年第三季度服务及其他业务利润率达74.6%，直接贡献17.4亿元毛利润。从“卖车”到“卖技术”，这也意味着其从一家车企向“物理AI”公司转型的战略获得了关键性的认可。小米汽车：入局即巅峰令人羡慕的跨界者2025年的小米汽车对于整个汽车行业而言无疑是一条“大鲶鱼”，一亮相就在汽车圈掀起了巨浪，以“破局者”的姿态，让其他玩家感受到了不小的压力和震撼。这家跨界入局约4年的科技企业，以19个月达成50万辆下线的全球新能源车企最快纪录，以及第三季度1.7%的全球市场份额跻身新能源车企前15，成为2025年得意的造车新势力之一。今年11月其小米汽车单月交付突破了4万辆，首次跻身造车新势力销量排行榜前三，且连续3个月月销超4万辆，同时提前完成了全年35万辆的交付目标。业绩方面，今年第三季度，小米汽车收入达283亿元，同比增长197.9%，首次实现单季度经营收益转正，斩获7亿元经营收益，毛利率提升至25.5%。要说什么是小米汽车热销路上的“王牌”，其可以载入车圈史册的营销势必占据着一席之地。小米汽车上市初期，雷军可谓是将他的个人IP发挥到了极致。他不仅是CEO，更是“首席产品经理”和“头号推销员”。长达4小时的工厂“跨年”直播、在交付现场亲自为车主开车门、驾驶小米SU7赛道漂移等等，雷军以极具亲和力的营销方式让小米汽车和用户之间建立了超越买卖的情感连接，也造就了“全民围观、全民讨论”的盛况，这种未售先火的情况为小米汽车省下巨额广告费，也在汽车圈掀起高管效仿雷军做网红的热潮。然而，成也流量败也流量，小米汽车今年也是舆情不断，首先就是发生了多起交通事故，如安徽池州SU7的NOA事故、成都SU7 Ultra的起火事件。事故发生后，小米汽车被指响应滞后、信息模糊，隐藏式门把手在事故中是否阻碍救援的争议持续消耗着公众对品牌安全性的信任。此外，小米汽车饱受诟病的排产策略也加剧用户不满。当前高配的MAX版本交付周期显著短于标准版和Pro版，YU7标准版甚至需等待35-38周。这种“先高配后普通”的优先级，被大量订购中低配车型的用户视为不公。而近期小米汽车对YU7订单规则调整，要求用户在锁定交付期后7日内支付全额尾款，否则订单作废，这一激进举措更是引发车主与小米汽车之间的矛盾。种种事件之下，雷军的抖音账号掉粉百万，颇有被流量反噬之感。2026年，如何平衡流量和销量或许是小米汽车需要深入思考的课题。零跑汽车的全域自研盈利路、小鹏汽车的技术转型翻身路、小米汽车的流量跨界探索路，三者在2025年车市的表现恰恰反映出了一个最简单的道理——当市场不再为“新鲜感”买单，核心技术、盈利能力与用户信任就成为了车企获得亮眼业绩的根基了。2026年造车新势力阵营分化或将进一步加剧，这3家造车新势力能否在来年也维持自身的良好市场表现，又是否有后来者以青出于蓝而胜于蓝的姿态将其赶超？让我们拭目以待。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.35.13","shortVersion":"4.35.13","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2595478635","isCrawlerRequest":true}

零跑逆袭 小鹏翻身 小米跨界 2025年谁更得意？

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零跑逆袭小鹏翻身小米跨界 2025年谁更得意？