Caixin Auto Morning Report [March 2]

2026 National Car Subsidy Supporting Policies Implemented Nationwide

On March 1, media reported that since February 10, more than five provinces including Hunan, Qinghai, Henan, Fujian, and Jiangxi have successively introduced supporting policies for the “trade-in and upgrade” program. Currently, all mainland Chinese provinces have issued supporting details for the 2026 national car subsidy policy.

Cailian Press Automotive: The new round of 2026 “trade-in and upgrade” subsidies has begun. The continuation and optimization of the policy are expected to provide stable and strong support to the automotive market throughout the year.

Traditional Car Manufacturers Release February Sales Data

On March 1, several traditional automakers released their sales figures. SAIC Motor’s February sales were 269,500 units, down 8.64% year-over-year. Geely Auto sold 206,200 units in February, a 1% increase year-over-year. BYD’s February sales were 190,200 units, a 41.1% decrease. Chery Automobile sold 146,200 units, down 14.8%. Great Wall Motors sold 72,600 units, a 6.79% decrease.

Cailian Press Automotive: Due to the impact of the Spring Festival holiday and a slowdown in consumer activity, the automotive market is experiencing short-term adjustments.

Emerging Car Brands’ February Delivery Data Shows Cold Reception

On March 1, new car startups released their February delivery figures. Leap Motor delivered 28,067 vehicles in February, a 10.99% increase year-over-year; Li Auto delivered 26,421 vehicles, a slight increase of 0.6%; NIO delivered 20,797 vehicles, up 57.65%; XPeng delivered 15,256 vehicles, down 49.9%.

Cailian Press Automotive: In February, affected by the longest-ever 9-day Spring Festival holiday, the effective production and sales time in the automotive industry was significantly reduced, marking a typical off-season for auto consumption. Coupled with the decline in purchase tax rebates, the overall automotive industry remains冷淡, facing many challenges.

Wenyuan Zhi Xing’s Robotaxi Fleet in Dubai Temporarily Suspended

On March 1, media reported that Wenyuan Zhi Xing’s Robotaxi fleet in Abu Dhabi, UAE, continues normal commercial operations; the fleet in Riyadh, Saudi Arabia, also continues normal operations. However, the Robotaxi fleet in Dubai, UAE, is temporarily suspended, awaiting further notice for resumption.

Cailian Press Automotive: Geopolitical uncertainties are affecting Chinese autonomous driving companies’ overseas expansion.

Xiaomi Launches First Hypercar Concept

On February 28, Xiaomi held a launch event in Barcelona, simultaneously announcing its first hypercar, Vision GT. The vehicle will be displayed at the Mobile World Congress in Barcelona from March 2 to March 5.

Cailian Press Automotive: Xiaomi Automotive is making a strong push in overseas markets.

Lantu Dreamer Champion Edition to Launch in March

On March 1, Lantu Auto announced that its mid-to-large MPV, the Lantu Dreamer Champion Edition, is now available for pre-order. The new vehicle has a pre-sale price of 319,900 yuan and is expected to be officially launched in March. In terms of smart features, it is equipped with Huawei’s Qiankun ADS4 autonomous driving system and HarmonyOS Cockpit 5, making it the only model in the 300,000-yuan MPV market to feature this autonomous driving system. Powertrain-wise, the Dreamer Champion Edition features a 41.7kWh battery, with a CLTC pure electric range of 235 km. The chassis includes a double wishbone front suspension, a five-link rear suspension, and intelligent electric all-wheel drive, enhancing ride quality and handling.

Cailian Press Automotive: The launch of the Dreamer Champion Edition aims to commemorate the milestone of reaching 200,000 units produced.

Starting at 118,000 Yuan, New Zeekr Alpha S5 Pre-Sale Begins

On March 1, Zeekr, a subsidiary of Geely, officially launched pre-sales for its new model Alpha S5. The vehicle is an AI high-performance wide-body coupe with a starting price of 118,000 yuan after subsidies. It features BAIC’s Yuanjing intelligent assisted driving system, equipped with the “Blue Light” visual indicator, supporting city/highway NOA navigation assist, full-scenario intelligent parking, and other functions with a parking success rate over 98%. Powertrain-wise, the extended-range version is equipped with a 1.5L naturally aspirated engine and a single motor, with a maximum engine power of 105 horsepower and a maximum motor power of 272 horsepower. It uses a 27.4kWh lithium iron phosphate battery, with a CLTC pure electric range of 230 km and a total range of 1,450 km. Charging from 30% to 80% takes 15 minutes.

Cailian Press Automotive: Zeekr is launching its first extended-range model.

(Reporter Xu Hao compilation/commentary)