Guolian Minsheng Securities released a research report saying that domestic demand for 2026H1 passenger cars will be relatively weak, and high-end and overseas trips will boost profits. The bank expects the 2026H2 new energy penetration rate to increase at an accelerated pace, with wholesale sales of 17.31 million new energy vehicles in 2026, or +13.0% over the same period last year. In 2026, the market pattern is more clear, and the leading position of autonomous vehicle companies under 150,000 yuan is showing; domestic smart driving is moving from popularization of functions to advanced penetration, smart driving equality is expected to continue to accelerate in 2026, and the market below 150,000 yuan will become an important increase in NOA's penetration rate. The bank said that improving domestic demand for passenger cars and rising fuel prices have led to a major trend of high growth in new energy exports, and is optimistic about the industry going overseas, high-end, and intelligent.

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