易车：薄利多销的小电动帮车企钓大鱼：小电动市场竞争力分析报告（2026版）（英文版）（26页）.pdf

1、Insights on Small EVsMarket Competitiveness(2026)TengYi Research InstituteLow-Margin,High-Volume Small EVs Reel inBig Gains for CarmakersAuthorsDirector/Chief ALijun ZhouIndustry ABenya ShiIndustry AShixiang WangFrom 2020 onward,driven by the rapid market entry and breakout success of numerous small

2、 EVs like the Wuling Hongguang MINIEV,ORA Good Cat,BYD Dolphin&Seagull,Bingo and Xingyuan(small EVs defined as battery electric passenger cars 10%),then Buick and Audi(5%);the BBA(BMW-Mercedes-Audi)brands all ranked in the top 10.While headlines often cite how many users of premium Chinese newcomers

3、(e.g.,AITO,NIO,Li Auto)migrated from BBA,small EVs have also attracted high quality customers:NIOs small EV sub-brand Firefly,for example,drew a substantial number of former BBA owners;Small EVs of Chinese brands attracted a large share of foreign brand household users who were predominantly female

4、over 80%in 2025 because the strengths and weaknesses of small EVs align well with these female household buyers daily commuting needs;Before 2020-when premium Chinese entrants such as Li Auto,NIO,AITO,TANK,ZEEKR,Denza,Fang Cheng Bao and VOYAH had not yet scaled-Chinese brands customer profiles lagge

5、d foreign brands.From 2020 to 2025,many foreign brand household buyers whose previous purchases concentrated before 2020 switched to Chinese small EVs;this large cohorts adoption materially upgraded the customer mix for Chinese brands and set conditions for future purchases of higher-value models(e.

6、g.BYD Tang,Galaxy M9).Source:TYRISource of Small EV Buyers ofSelect Chinese Brands 2025Top 10 Foreign BrandsContributing the Most Buyersto BYD Small EVs in 2025Owners of Foreign BrandsPurchasing Small EVsin 2025 by Gender0%10%20%30%40%50%60%70%80%90%100%Small EVBYDGeelyORAFirst-Time PurchaseChinese