<p>比亚迪面临五年来最慢的年度增长</p><p>比亚迪的新目标低于分析师的预测</p><p>比亚迪预计销售 460 万辆，而之前为 550 万辆</p><p>9 月 4 日（路透社）- 据两位知情人士透露，比亚迪已将今年的销售目标下调至 460 万辆，降幅高达 16%，因为这家中国电动车巨头面临五年来最慢的年度增长，以及其他迹象表明其创纪录扩张的时代可能即将结束。</p><p>中国最大的汽车制造商在 3 月份告诉分析师，2025 年的销售目标为 550 万辆。但根据知情人士的说法，内部的目标在最近几个月已多次下调。</p><p>最新的至少 460 万辆的数字是在上个月内部和部分供应商之间传达的，以帮助指导规划，知情人士表示，二人均要求匿名。</p><p>该目标仍然可能根据市场情况而变化，知情人士补充道。</p><p>知情人士没有给出下调的原因。然而，其中一人表示，这一调整是因为比亚迪（002594.SZ）（1211.HK）感受到来自吉利汽车（0175.HK）和零跑汽车（9863.HK）等竞争对手日益增长的压力。</p><p>上周，比亚迪报告季度利润下降 30%，这是三年来的首次下降。</p><p>比亚迪未对评论请求作出回应。</p><p>这一最新目标尚未被报道，低于分析师最近下调的几项预测。本周，德意志银行表示预计比亚迪将销售 470 万辆，而晨星则预计为 480 万辆。</p><p>新目标较去年增长 7%，将是自 2020 年以来最慢的年度增长，当年销售下降了 7%。</p><p>这一削减的前景也反映出全球第二大经济体面临的通缩压力，国内需求受到长期房地产低迷的影响。今年前八个月，比亚迪仅完成了原定 550 万辆销售目标的约 52%。</p><p>在短短几年内，比亚迪已从一家电动车新兴企业转变为全球最重要的汽车制造商之一，通过大部分生产自给自足，使其在推出尖端功能的同时控制成本。</p><p>其纯电动车和插电式混合动力车的销售在 2020 年至 2024 年间增长了十倍，达到 430 万辆，使其在全球销售方面与通用汽车和福特相当。</p><p>然而，它现在显示出不可否认的放缓迹象，尤其是在其主要市场中国，该市场占其销售的近 80%，并且正处于一场持续多年的激烈价格战中。</p><p>路透社在 6 月报道，比亚迪已放缓生产并推迟在中国工厂的产能扩张。</p><p>根据路透社对其备案和中国汽车数据平台 DATADIC 的销售细分分析，比亚迪的经济型汽车（售价低于 15 万元（约 21,000 美元），占其国内销售的主要部分）在 7 月份同比下降了 9.6%。</p><p>相比之下，吉利在该价格区间的汽车销售在 7 月份同比增长了 90%。</p><p>吉利在 8 月的财报会议上表示，将 2025 年的年度销售目标从 271 万辆提高至 300 万辆。</p><p>比亚迪的生产在 8 月份连续第二个月下滑，标志着自 2020 年以来首次出现连续的月度收缩。</p>

比亚迪(ADR)

比亚迪

比亚迪股份

<p>比亚迪将其 2025 年的销售目标下调了 16%，至 460 万辆，反映出在竞争加剧和市场压力下，其增长速度为五年来最慢。原目标为 550 万辆，但内部修订降低了预期。分析师曾预测销售在 470 万到 480 万之间。该公司面临季度利润下降 30% 的困境，并且在今年前八个月仅实现了原目标的 52%。这一放缓归因于中国的价格战和国内需求下降</p>

<p>BYD faces slowest annual growth in five years</p>
<div class="lb-trans"><p>比亚迪面临五年来最慢的年度增长</p>
</div><p>BYD’s new target below analysts’ forecasts</p>
<div class="lb-trans"><p>比亚迪的新目标低于分析师的预测</p>
</div><p>BYD sees sales of 4.6 mln vs 5.5 mln previously</p>
<div class="lb-trans"><p>比亚迪预计销售 460 万辆，而之前为 550 万辆</p>
</div><p>Sept 4 (Reuters) - BYD has slashed its sales target for this year by as much as 16% to 4.6 million vehicles, two people with knowledge of the matter said, as the Chinese EV giant faces its slowest annual growth in five years and other signs that its era of record-setting expansion could be drawing to a close.</p>
<div class="lb-trans"><p>9 月 4 日（路透社）- 据两位知情人士透露，比亚迪已将今年的销售目标下调至 460 万辆，降幅高达 16%，因为这家中国电动车巨头面临五年来最慢的年度增长，以及其他迹象表明其创纪录扩张的时代可能即将结束。</p>
</div><p>China’s largest automaker told analysts in March it was targeting sales of 5.5 million vehicles for 2025. But internally, the number has been downgraded multiple times in recent months, according to the people.</p>
<div class="lb-trans"><p>中国最大的汽车制造商在 3 月份告诉分析师，2025 年的销售目标为 550 万辆。但根据知情人士的说法，内部的目标在最近几个月已多次下调。</p>
</div><p>The latest figure of at least 4.6 million vehicles was communicated inside the company and to select suppliers last month to help guide planning, according to the people, both of whom spoke on condition of anonymity.</p>
<div class="lb-trans"><p>最新的至少 460 万辆的数字是在上个月内部和部分供应商之间传达的，以帮助指导规划，知情人士表示，二人均要求匿名。</p>
</div><p>The target remains subject to change depending on market conditions, the people added.</p>
<div class="lb-trans"><p>该目标仍然可能根据市场情况而变化，知情人士补充道。</p>
</div><p>The people didn’t give a reason for the cut. However, one of them said it comes as BYD (002594.SZ) (1211.HK) feels the heat from growing competition with rivals such as Geely Auto (0175.HK) and Leapmotor (9863.HK) .</p>
<div class="lb-trans"><p>知情人士没有给出下调的原因。然而，其中一人表示，这一调整是因为比亚迪（002594.SZ）（1211.HK）感受到来自吉利汽车（0175.HK）和零跑汽车（9863.HK）等竞争对手日益增长的压力。</p>
</div><p>Last week, BYD reported a 30% drop in quarterly profit, its first decline in more than three years.</p>
<div class="lb-trans"><p>上周，比亚迪报告季度利润下降 30%，这是三年来的首次下降。</p>
</div><p>BYD did not respond to a request for comment.</p>
<div class="lb-trans"><p>比亚迪未对评论请求作出回应。</p>
</div><p>The latest target, which has not been previously reported, is below several recently lowered forecasts from analysts. This week Deutsche Bank said it expected BYD to sell 4.7 million vehicles while Morningstar said it expected 4.8 million.</p>
<div class="lb-trans"><p>这一最新目标尚未被报道，低于分析师最近下调的几项预测。本周，德意志银行表示预计比亚迪将销售 470 万辆，而晨星则预计为 480 万辆。</p>
</div><p>The new target represents a 7% increase from last year and would be the slowest annual growth since 2020, when sales fell by 7%.</p>
<div class="lb-trans"><p>新目标较去年增长 7%，将是自 2020 年以来最慢的年度增长，当年销售下降了 7%。</p>
</div><p>The pared-back outlook also speaks to the deflationary pressure weighing on the world’s second-largest economy, where domestic demand has been hit by a prolonged housing downturn. In the first eight months of this year, BYD has only met some 52% of its original 5.5 million vehicle sales target.</p>
<div class="lb-trans"><p>这一削减的前景也反映出全球第二大经济体面临的通缩压力，国内需求受到长期房地产低迷的影响。今年前八个月，比亚迪仅完成了原定 550 万辆销售目标的约 52%。</p>
</div><p>In just a few years, BYD has transformed itself from an EV upstart to one of the world’s most important automakers by doing much of its production in-house, allowing it to keep a lid on costs even as it rolls out cutting-edge features.</p>
<div class="lb-trans"><p>在短短几年内，比亚迪已从一家电动车新兴企业转变为全球最重要的汽车制造商之一，通过大部分生产自给自足，使其在推出尖端功能的同时控制成本。</p>
</div><p>Its sales of pure electric vehicles and plug-in hybrids grew ten-fold between 2020 and 2024, to 4.3 million vehicles, putting it on par with General Motors and Ford in terms of global sales.</p>
<div class="lb-trans"><p>其纯电动车和插电式混合动力车的销售在 2020 年至 2024 年间增长了十倍，达到 430 万辆，使其在全球销售方面与通用汽车和福特相当。</p>
</div><p>Yet it is now showing undeniable signs of a slowdown, especially in its main market China, which accounts for almost 80% of its sales and is in the midst of a bruising, years-old price war.</p>
<div class="lb-trans"><p>然而，它现在显示出不可否认的放缓迹象，尤其是在其主要市场中国，该市场占其销售的近 80%，并且正处于一场持续多年的激烈价格战中。</p>
</div><p>BYD has slowed production and delayed capacity expansion at its Chinese factories, Reuters reported in June.</p>
<div class="lb-trans"><p>路透社在 6 月报道，比亚迪已放缓生产并推迟在中国工厂的产能扩张。</p>
</div><p>BYD’s sales of economy cars - those that go for under 150,000 yuan ($21,000) and make up the bulk of its domestic sales - fell 9.6% in July versus last year, according to Reuters’ analysis of its filing and a sales breakdown by Chinese auto data platform DATADIC.</p>
<div class="lb-trans"><p>根据路透社对其备案和中国汽车数据平台 DATADIC 的销售细分分析，比亚迪的经济型汽车（售价低于 15 万元（约 21,000 美元），占其国内销售的主要部分）在 7 月份同比下降了 9.6%。</p>
</div><p>By comparison, Geely’s sales of cars in that price segment jumped 90% year-on-year in July.</p>
<div class="lb-trans"><p>相比之下，吉利在该价格区间的汽车销售在 7 月份同比增长了 90%。</p>
</div><p>Geely raised its annual sales target for 2025 to 3 million vehicles from 2.71 million, its executives said during an August earnings conference.</p>
<div class="lb-trans"><p>吉利在 8 月的财报会议上表示，将 2025 年的年度销售目标从 271 万辆提高至 300 万辆。</p>
</div><p>BYD’s production slid for a second straight month in August, marking its first consecutive monthly contraction since 2020.</p>
<div class="lb-trans"><p>比亚迪的生产在 8 月份连续第二个月下滑，标志着自 2020 年以来首次出现连续的月度收缩。</p>
</div>

EXCLUSIVE-China's BYD cuts 2025 sales target by 16%, sources say, a sign its white-hot growth is cooling

- 比亚迪将 2025 年销售目标下调至 460 万辆，较之前的 550 万辆减少 16%。  
- 该公司面临五年来最慢的年度增长，竞争加剧导致业绩下滑。  
- 今年前八个月，比亚迪仅完成原销售目标的 52%。  

独家消息——消息人士透露，中国的比亚迪将 2025 年销售目标削减 16%，这表明其迅猛的增长势头正在减缓