行业动态周报Weekly Industry Brief

重型商用车 · 挂车 · 矿用车 情报周报车轴 / 第五轮座 / 连接件 视角 · 远东 — 供董事会汇报 Heavy CV · Trailers · Mining Vehicles IntelligenceAxle / fifth-wheel / coupling lens · Far East — for board reporting

2026 · W28
2026-07-01 → 07-07
来源 国际 RSS + 中国行业网站 + 远东区域源；宏观与亚洲市场数据由撰稿期联网研究补充（一手源：国家发改委、财政部、国家统计局、Bank Indonesia、印尼 ESDM、越南 NSO / 财政部、ARCHION / Tata / OSD 官方发布；行业源 Mysteel / Argus 交叉）。 处理 本周流水线候选 97 条，多为辖区外与事件类噪音（泰国交通事故、kei 卡车、市场报告软文）→ 按收录纪律精选；一汽解放两条为发布会 / 厂商稿，已剥离软文、只取数据内核。 缺口 cvworld.cn（核心销量源）境外封锁，6 月重卡初值经腾讯转载（已标注、待中汽协终值）；微信（阶段 3）本周未导入；各国 6 月 CV 协会数据多未发布（月度节奏）；SIAM Q1 预计 7 月中发布。 Sources International RSS + China trade sites + Far East regional sources; macro and Asia-market data supplemented by live web research at drafting (primary: NDRC, MoF China, NBS, Bank Indonesia, ESDM, Vietnam NSO/MoF, ARCHION / Tata / OSD official releases; Mysteel / Argus for cross-checks). Pipeline 97 candidates this week, mostly out-of-territory and incident noise (Thai road accidents, kei trucks, market-report spam) → curated by inclusion discipline; the two FAW Jiefang items are launch-event/OEM copy, stripped to their data cores. Gaps cvworld.cn geo-blocked offshore — June HDV flash taken via Tencent re-publisher (flagged, pending CAAM finals); WeChat (Phase 3) not imported; most June CV association data not yet released (monthly cadence); SIAM Q1 due mid-July.
本周主线Bottom Line

本周主轴是成本与政策的双重换挡：中国柴油三连降（7/3 每吨 −915 元）、新能源商用车车船税优惠 2027 年退出，叠加 6 月重卡约 11.5 万辆（+18% YoY）与新能源终端渗透率破 45%——电动化过半与去补贴化同周坐实，电驱桥对传统车轴的替代主线再获实证。海外侧，印尼镍 / 煤配额双收紧把 H2 矿运需求押在 7/31 修订窗口；越南公共投资放款滞后倒逼下半年加速；印度 Tata CV +35% 是本周亚洲最强增长极。

This week's axis is a double regime shift in cost and policy: China's third consecutive diesel cut (−RMB 915/t on 3 Jul) and the 2027 sunset of NEV commercial-vehicle vehicle-and-vessel tax relief, alongside June HDV sales of ~115k (+18% YoY) with NEV retail penetration above 45% — electrification passing the halfway mark and de-subsidisation were both confirmed in the same week, further evidencing the e-axle substitution of conventional axles. Offshore, Indonesia's twin nickel/coal quota squeeze pins H2 mining-haulage demand on the 31 Jul revision window; Vietnam's lagging public-investment disbursement forces an H2 acceleration; Tata's +35% CV June is Asia's strongest growth pole this week.

宏观Macro

中国成本端双降、印尼资源配额双收紧：7/3 柴油每吨 −915 元（三连降、近 6 年最大单次），LNG 自高位回落 4%（6 月下旬旬环比）；印尼镍 RKAB 触顶、煤 RKAB 约 600 mn t（2025 年 817）；越南 H1 GDP +8.18%，但公共投资放款至 6/4 仅完成 22.4%。

China's cost side falls twice over; Indonesia's resource quotas tighten twice over: diesel −RMB 915/t on 3 Jul (third straight cut, largest in ~6 years), LNG −4.0% from its peak (late-June, 10-day basis); Indonesia's nickel RKAB hit its cap and coal RKAB is ~600 mn t (vs 817 in 2025); Vietnam's H1 GDP +8.18% but public-investment disbursement only 22.4% of plan as of 4 Jun.

信号Signal

去补贴化与电动化过半同周确认：车船税优惠 2027 年退出（三部委 7/3 公告）+ 新能源重卡终端渗透率超 45%；一汽解放把自主电驱桥写进煤运主力车型——电驱桥替代传统车轴的信号再加一档；ARCHION 二次发售（丰田 / 戴姆勒各 41.4%→约 25%）完成日系整合的资本收尾。

De-subsidisation and past-50% electrification confirmed in the same week: vehicle-and-vessel tax relief sunsets from 2027 (tri-ministry notice, 3 Jul) while NEV HDV retail penetration tops 45%; FAW Jiefang writes its in-house e-axle into its mainstream coal-haulage models — another notch in e-axle substitution; ARCHION's secondary offering (Toyota/Daimler each 41.4%→~25%) closes the capital chapter of Japan's CV consolidation.

需求Demand

总量与出口为暖、结构与资源端偏冷：中国 6 月重卡约 11.5 万辆（+18% YoY、+5% MoM）、H1 约 66 万辆（+22% YoY）、出口初值 +约 35%；印度 Tata CV +35% YoY 并顺利涨价 2.5%。反向：燃气重卡 −约 11% YoY、印尼矿运押 7/31 配额修订、土耳其 5 月总市场 −22.6%。

Volume and exports warm; mix and resources cooler: China June HDV ~115k (+18% YoY, +5% MoM), H1 ~660k (+22% YoY), exports flash +~35%; Tata CV +35% YoY while pushing through a 2.5% price rise. Counterpoints: gas-powered HDV −~11% YoY, Indonesian mining haulage pinned on the 31 Jul quota revision, Türkiye's May total market −22.6%.

结论Verdict

确定性继续押在「重卡总量 + 电动化（电驱桥）+ 出口」三条主线；印尼 H2 矿运的唯一决点是 7/31 ESDM 补充批复，越南看 7 月财政部 H1 放款完成率。首要监测：7/31 RKAB 批复、BI 7 月例会（约 17–18 日）、中汽协 6 月终值、下轮柴油调价窗口（约 7/17）。

Keep conviction on the three lines — HDV volume + electrification (e-axle) + exports; the single decision point for Indonesia's H2 mining haulage is the 31 Jul ESDM supplementary approval, and for Vietnam the MoF's H1 disbursement print due July. Watch first: 31 Jul RKAB approvals, BI's July meeting (~17–18), CAAM June finals, next diesel price window (~17 Jul).

本周要点Key Takeaways
01宏观与政策环境Macro & Policy4
已传导Transmitted置信 高Confidence High

中国柴油三连降（7/3 每吨 −915 元、近 6 年最大单次），LNG 自高位回落 4%——燃气经济性仍未修复China's third straight diesel cut (−RMB 915/t on 3 Jul, largest in ~6 years); LNG eases 4% off its peak — gas economics still unrepaired1

国家发改委自 7/3 24 时起下调汽、柴油价每吨 950 / 915 元（0# 柴油约每升 −0.78 元），为 6/4、6/18 之后的「三连降」、近 6 年最大单次降幅，柴油零售回到「6 元时代」；调价前国家统计局 6 月下旬 0# 柴油（国VI）市场价 7,387 元/吨。同期车用 LNG 自高位回落：6 月下旬 6,091.3 元/吨、较 6 月中旬 −4.0%（NBS 旬度），仍比 5 月上涨前约 4,200 元/吨的水平高约 45%。上期锚点交代：燃气重卡 6 月销量同比 −约 11%、渗透率降至约 15%（初值，见重卡章）。From midnight 3 Jul the NDRC cut gasoline/diesel by RMB 950/915 per tonne (0# diesel ≈ −RMB 0.78/L) — the third straight cut after 4 Jun and 18 Jun and the largest single cut in ~6 years, taking retail diesel back below RMB 7/L; NBS late-June 0# diesel (China-VI) market price was RMB 7,387/t before the cut. Vehicle LNG eased off its peak over the same period: RMB 6,091.3/t in late June, −4.0% vs mid-June (NBS 10-day series), still ~45% above the ~RMB 4,200/t level before May's surge. Carry-over anchor: gas-powered HDV sales fell ~11% YoY in June, penetration down to ~15% (flash; see HDV section).

关键数据（事实层）Key data (facts)柴油 −915 元/吨（7/3）Diesel −RMB 915/t (3 Jul)三连降 · 近 6 年最大单次3rd straight cut · largest in ~6 yrsLNG 6,091 元/吨（6 月下旬，−4.0% 旬环比）LNG RMB 6,091/t (late Jun, −4.0% 10-day)
事件Event

7/3 柴油每吨下调 915 元（三连降），同期 LNG 高位回落 4% 但仍高约 45%。Diesel cut RMB 915/t on 3 Jul (third straight); LNG eased 4% off its peak yet remains ~45% elevated.

机制Mechanism

柴油占重卡 TCO 约三至四成，降价直接改善运营现金流；同时柴油下行拉大 LNG 对柴油的经济性劣势，燃气车替换动力被继续压制。Diesel is ~30–40% of HDV TCO, so the cut directly improves operator cash flow; a falling diesel price also widens LNG's economics deficit, further suppressing the gas-truck switch.

市场Market

运营端成本下行有望支撑换购意愿企稳；燃气重卡份额或继续走低（6 月已 −约 11% YoY），增量继续流向柴油与纯电。Lower operating costs should help replacement demand stabilise; gas-truck share may keep sliding (−~11% YoY in June already), with volume flowing to diesel and BEV.

业务Business

车轴 / 连接件对动力路线中性、受重卡总量护体；柴油降价利好运费现金流与更新需求，配套面基本盘有望走稳。Axles/couplings are powertrain-neutral and covered by total HDV volume; cheaper diesel supports freight cash flow and replacement, steadying the fitment base.

净判断Net

成本端转为顺风：总量逻辑强化，动力结构继续向柴油与纯电两头集中。The cost side turns tailwind: the volume thesis strengthens, and the powertrain mix keeps polarising toward diesel and BEV.

前提Premise国际油价不出现地缘驱动的 V 型反弹；LNG 价回落但未修复价差的判断以 NBS 旬度口径为准。No geopolitics-driven V-shaped rebound in crude; the 'spread unrepaired' judgment rests on the NBS 10-day series.
证伪信号Falsifier下轮调价窗口（约 7/17）转为上调，或 LNG 跌回 4,500 元/吨下方使燃气经济性重新成立。The next price window (~17 Jul) turns into a hike, or LNG falls back below ~RMB 4,500/t restoring gas-truck economics.
追踪锚点Track约 7/17 下轮调价窗口、NBS 旬度 LNG 价、第一商用车网 7 月燃气重卡销量。Next price window ~17 Jul, NBS 10-day LNG price, CVWorld July gas-HDV sales.
领先指标Leading置信 高Confidence High

中国三部委：2027 年起取消新能源商用车车船税免征——去补贴化的政策风向标China's tri-ministry notice ends NEV commercial-vehicle tax exemption from 2027 — a de-subsidisation weathervane2

财政部、税务总局、工信部 7/3 发布 2026 年第 19 号公告：自 2027-01-01 起取消纯电动商用车、插电式（含增程式）混合动力汽车、燃料电池商用车免征车船税，并取消节能汽车减半征收；存量已购车辆同样自 2027 年起照章征税。量级参照：货车按整备质量每吨 16–120 元/年（各省自定，如广东 96 元/吨），挂车按同吨位货车税额的 50%——9 吨级电动牵引车年税额约数百至千元级。On 3 Jul the MoF, State Taxation Administration and MIIT issued Notice No.19 (2026): from 1 Jan 2027, BEV commercial vehicles, PHEVs (incl. EREV) and FCEV commercial vehicles lose their vehicle-and-vessel tax exemption, and the half-rate for energy-saving vehicles ends; vehicles already on the road also resume paying from 2027. Scale reference: trucks pay RMB 16–120 per tonne of kerb weight per year (set by province, e.g. Guangdong RMB 96/t), trailers at 50% of the same-weight truck rate — roughly several hundred to ~RMB 1,000/yr for a 9-tonne-class electric tractor.

关键数据（事实层）Key data (facts)2027-01-01 起恢复征收Exemption ends 1 Jan 2027货车 16–120 元/吨·年 · 挂车减半Trucks RMB 16–120/t·yr · trailers 50%存量车辆同步照章征税Applies to the existing parc too
事件Event

三部委 7/3 公告：2027 年起新能源商用车车船税免征取消（一手源：财政部官网）。Tri-ministry notice of 3 Jul: NEV CV vehicle-and-vessel tax exemption ends from 2027 (primary: MoF website).

机制Mechanism

对新能源重卡 TCO 的绝对冲击轻微（年千元级 vs 购置价数十万），实际作用是政策信号：新能源商用车激励从「扶上马」转向「税收公平」，去补贴化提速。The absolute TCO hit on NEV HDVs is minor (~RMB 1k/yr vs a six-figure purchase price); the real effect is the signal — NEV CV incentives shift from nurture to tax parity, accelerating de-subsidisation.

市场Market

2026 年底前或出现小幅抢购窗口；2027 年起新能源重卡 TCO 微升，但在渗透率已超 45% 的位置，不改电动化大方向。A modest pull-forward window may appear before end-2026; from 2027 NEV HDV TCO ticks up, but with penetration already above 45% the electrification trend is not at risk.

业务Business

电动化进入「自走期」意味着电驱桥 / 高承载前轴的规格竞争才是主战场；政策退坡佐证行业成熟化，而非需求逆转。Electrification entering its self-sustaining phase means the real battleground is e-axle / high-load front-axle specs; subsidy retreat evidences industry maturation, not demand reversal.

净判断Net

成本影响可忽略、信号意义明确：新能源商用车已被官方认定为「无需扶持的大额财产」。Negligible in cost, unambiguous in signal: NEV CVs are now officially treated as assets that no longer need propping up.

前提Premise车船税量级以《车船税法》16–120 元/吨·年幅度为准；不叠加其他补贴变动。Tax scale per the statute's RMB 16–120/t·yr band; assumes no concurrent change to other incentives.
证伪信号Falsifier后续若购置税 / 路权等更大额新能源商用车优惠同步退坡，则 TCO 影响需重估（本条按单一税种评估）。If larger NEV CV incentives (purchase tax, road access) retreat in tandem, the TCO impact needs re-estimating (this entry assesses one tax only).
追踪锚点Track工信部 / 财政部后续新能源商用车购置税与路权政策；2026 年 12 月新能源重卡销量是否出现抢购冲量。Follow-on MIIT/MoF policy on NEV CV purchase tax and road access; whether Dec-2026 NEV HDV sales show a pull-forward spike.
领先指标Leading置信 中Confidence Mid

印尼镍 / 煤配额双收紧：镍 RKAB 触顶、ESDM 否认放宽，7/31 修订窗口成 H2 矿运决点（货源型传导）Indonesia's twin nickel/coal quota squeeze: nickel RKAB capped, ESDM denies easing — the 31 Jul revision window decides H2 mining haulage (freight-source transmission)3

截至 6/24，印尼 2026 年已批镍矿 RKAB 触及 ESDM 年初上限（上期锚点：约 260–270 mn wmt，2025 年批复 379 mn wmt）；ESDM 同日否认将配额放宽至 360 mn t（行业媒体转述，一手声明待核实），补充配额申请窗口至 7/31。LME 镍约 $16,379/t（7/6），自 6 月初峰值回落约 14%。煤炭同一政策逻辑：2026 煤 RKAB 约 600 mn t（2025 年 817 mn t）、1–4 月产量 230–235 mn t（2025 年同期 250.5）、出口 151.1 mn t（−6.9% YoY），ESDM 明确不新增出口限制；HBA 7 月上半月 6,322 kcal 品位 $126.58/t（上期 $123.91，环比上调）。央行侧无本周动作：BI 5–6 月累计加息 100bp 后 7 月例会（约 17–18 日）未开，银行业贷款利率（上期 8.72%）待更新。As of 24 Jun, Indonesia's approved 2026 nickel RKAB hit ESDM's cap set early in the year (last week's anchor: ~260–270 mn wmt vs 379 mn wmt approved for 2025); the same day ESDM denied plans to lift the cap to 360 mn t (via industry media; primary statement unverified), with the supplementary-quota window open to 31 Jul. LME nickel ~$16,379/t (6 Jul), down ~14% from its early-June peak. Coal follows the same policy logic: 2026 coal RKAB ~600 mn t (vs 817 mn t in 2025), Jan–Apr output 230–235 mn t (vs 250.5 a year earlier), exports 151.1 mn t (−6.9% YoY), and ESDM explicitly ruled out new export curbs; the HBA for early July is $126.58/t for 6,322 kcal (vs $123.91, raised across grades). No central-bank action this week: after +100bp across May–June, BI's July meeting (~17–18) is yet to convene and the banking lending rate (8.72% last reading) awaits an update.

关键数据（事实层）Key data (facts)镍 RKAB 已批触顶（上限约 260–270 mn wmt）Nickel RKAB at cap (~260–270 mn wmt)煤 RKAB 约 600 vs 2025 年 817 mn tCoal RKAB ~600 vs 817 mn t (2025)LME 镍 ~$16,379/t（自 6 月初峰值 −14%）LME nickel ~$16,379/t (−14% off early-Jun peak)HBA 7 月上半月 $126.58/t（环比上调）HBA early-Jul $126.58/t (raised)
事件Event

镍 RKAB 已批触顶且 ESDM 否认放宽；煤 RKAB 收缩约 27%、1–4 月出口 −6.9%；补充配额窗口至 7/31。Nickel RKAB capped with ESDM denying easing; coal RKAB cut ~27% and Jan–Apr exports −6.9%; supplementary window to 31 Jul.

机制Mechanism

货源型传导——配额决定矿石开采与短倒运量：镍区（苏拉威西 / 马鲁古）与煤区（加里曼丹）的矿卡 / 自卸 / 挂车 tonne-km 直接随配额走。Freight-source transmission — quotas set ore output and short-haul volume: mining-truck/tipper/trailer tonne-km in the nickel belts (Sulawesi/Maluku) and coal belts (Kalimantan) move with the quota.

市场Market

配额双收紧下，H2 印尼矿运新增运力需求承压；若 7 月修订放量（APNI 3 月曾提 25–30%，属背景旧闻、幅度待证实），判断反转。Under the twin squeeze, incremental H2 haulage-capacity demand is under pressure; if July's revision adds volume (APNI floated 25–30% back in March — background, magnitude unverified), the call flips.

业务Business

印尼是核心市场：矿区车轴 / 挂车配套的增量订单大概率押后至配额批复明朗；存量车队售后不受影响。Indonesia is the core market: incremental axle/trailer fitment orders in mining zones will likely wait for quota clarity; the existing parc's aftersales is unaffected.

净判断Net

7/31 前的 ESDM 补充批复量是 H2 印尼矿运需求的唯一决点，其余变量皆次要。The ESDM supplementary approval by 31 Jul is the single decision point for Indonesia's H2 mining-haulage demand; everything else is secondary.

前提Premise配额执行刚性（无大规模超采）；镍冶炼需矿缺口（APNI 口径 380–400 mn t 需求 vs 270 批复 + 菲律宾进口约 23 mn t）持续存在。Quota enforcement holds (no large-scale over-mining); the smelter ore deficit (APNI: 380–400 mn t demand vs 270 approved + ~23 mn t Philippine imports) persists.
证伪信号Falsifier7 月修订放量 ≥20%，或菲律宾进口大幅补缺口——则矿运承压判断不成立。A ≥20% July quota top-up, or Philippine imports filling the gap — either would void the haulage-pressure call.
追踪锚点Track7/31 ESDM 补充配额批复量、HBA 8 月、GAIKINDO 6 月 CV 批发、BI 7 月例会与银行业贷款利率。ESDM supplementary approvals by 31 Jul, August HBA, GAIKINDO June CV wholesales, BI July meeting and the bank lending rate.
领先指标Leading置信 中Confidence Mid

越南 H1 GDP +8.18%、公共投资放款仅完成 22.4%——下半年基建放款被迫加速（工程车领先指标）Vietnam: H1 GDP +8.18% but public investment only 22.4% disbursed — H2 infrastructure spending must accelerate (a leading indicator for construction trucks)4

越南国家统计局（NSO）7/3 发布：H1 GDP 同比 +8.18%（Q2 +8.39%；2025 年 H1 为 +7.63%），政府维持全年 ≥10% 目标、隐含 H2 需 +11.9%。公共投资：2026 年计划约 1,080 万亿越南盾（创纪录，比 2025 年高约 175 万亿）；截至 6/4 放款 227.2 万亿盾、完成率 22.4%（财政部口径；完整 H1 完成率 7 月中旬发布）。Vietnam's NSO reported on 3 Jul: H1 GDP +8.18% YoY (Q2 +8.39%; H1-2025 was +7.63%), with the government holding its ≥10% full-year target — implying H2 must grow +11.9%. Public investment: the 2026 plan is a record ~VND 1,080tn (~VND 175tn above 2025); as of 4 Jun disbursement stood at VND 227.2tn, 22.4% of plan (MoF basis; the full H1 rate is due mid-July).

关键数据（事实层）Key data (facts)H1 GDP +8.18%（Q2 +8.39%）H1 GDP +8.18% (Q2 +8.39%)公投放款 22.4%（至 6/4，227.2 万亿盾）Disbursement 22.4% (VND 227.2tn, to 4 Jun)年计划 ~1,080 万亿盾 · 创纪录Plan ~VND 1,080tn · record
事件Event

H1 GDP +8.18% 但公投放款至 6/4 仅 22.4%，与全年 ≥10% 增长目标形成缺口。H1 GDP +8.18% while disbursement was only 22.4% by 4 Jun — a gap against the ≥10% full-year growth target.

机制Mechanism

放款进度大幅落后时序（半年线性应约 50%）+ 政府硬性增长目标 → H2 放款被迫加速 → 基建项目集中开工 → 工程自卸 / 搅拌 / 牵引运力需求。Disbursement far behind the linear pace (~50% by mid-year) + a hard growth target → H2 spending must accelerate → concentrated infrastructure starts → demand for tippers, mixers and tractor capacity.

市场Market

H2 越南工程车需求有望放量，增量或集中于基建国企与大车队；私人端融资成本仍偏高（商业 VND 贷款 6.5–8.9%，上期口径），中小买家弹性有限。Vietnam's construction-truck demand may ramp in H2, concentrated in state builders and large fleets; private financing costs remain high (commercial VND loans 6.5–8.9%, last week's caliber), limiting SME elasticity.

业务Business

挂车 / 车轴配套在越南的机会窗口偏 H2；需求放量时，中国低价 CBU 的份额扩张或同步受益（推断）——对我方既是配套增量、也是价格竞争变量。The trailer/axle fitment window in Vietnam skews to H2; as demand ramps, low-priced Chinese CBUs may capture share in step (inference) — for us both incremental fitment and a pricing-competition variable.

净判断Net

公投放款加速是越南 H2 工程车需求最可靠的领先指标；7 月中旬财政部 H1 完成率见分晓。Disbursement acceleration is the most reliable leading indicator for Vietnam's H2 construction-truck demand; the MoF's H1 print in mid-July will tell.

前提Premise政府坚持 ≥10% 增长目标且以公共投资为主要抓手；放款数据以财政部口径为准（非计划数）。The government holds the ≥10% target with public investment as the main lever; disbursement per MoF actuals (not plan figures).
证伪信号Falsifier7 月发布的 H1 完成率仍低于 30% 且无问责 / 加速机制出台，或增长目标下调。The H1 rate printing below 30% with no accountability/acceleration mechanism, or the growth target being cut.
追踪锚点Track财政部 7 月 H1 放款完成率、VAMA 6 月 / H1 商用车批发（约每月 10 日发布）。MoF H1 disbursement rate due July; VAMA June/H1 CV wholesales (~10th of each month).
02重卡 / 商用车市场Trucks & Commercial Vehicles4

中国 6 月重卡约 11.5 万辆（+18% YoY、+5% MoM）：新能源终端渗透率破 45%、燃气续降China June HDV ~115k units (+18% YoY, +5% MoM): NEV retail penetration tops 45%, gas keeps sliding5

第一商用车网初值（批发口径，含出口与新能源）：6 月重卡约 11.5 万辆，同比 +18%（2025 年 6 月约 9.8 万辆）、环比 +5%；上半年累计约 66 万辆，同比 +22%。结构剧烈换轨：新能源重卡终端同比增超 100%、国内渗透率超 45%（5 月为 40.9%；高增速系低基数上的翻倍，口径为终端交强险）；燃气重卡同比 −约 11%、环比 −约 14%，渗透率降至约 15%；出口初值同比 +约 35%（见出海章）。终值待中汽协发布核实。CVWorld flash (wholesale basis, incl. exports and NEV): June HDV ~115k units, +18% YoY (vs ~98k in Jun-2025), +5% MoM; H1 cumulative ~660k, +22% YoY. The mix is switching tracks hard: NEV HDV retail more than doubled YoY with domestic penetration above 45% (40.9% in May; the >100% growth is a doubling off a low base, retail-insurance basis); gas-powered HDV −~11% YoY and −~14% MoM, penetration down to ~15%; exports flash +~35% YoY (see Overseas section). Pending CAAM finals.

关键数据Key data6 月 ~11.5 万辆（+18% YoY、+5% MoM）Jun ~115k (+18% YoY, +5% MoM)H1 ~66 万辆（+22% YoY）H1 ~660k (+22% YoY)新能源终端渗透率 >45%NEV retail penetration >45%燃气 −约 11% YoY · 渗透率 ~15%Gas −~11% YoY · ~15% share
直接关切Directly material对业务的含义Implication

总量上行护体、电动化过半在即——电驱桥对传统车轴的替代主线加速坐实，配套策略应向电动平台前轴 / 电驱桥协同规格倾斜；燃气降温对车轴中性。上行周期 + 结构换轨并存，按平台而非按动力路线布局配套最稳。

Volume cover plus electrification nearing the halfway mark — the e-axle substitution thesis keeps hardening; fitment strategy should lean toward BEV-platform front axles and e-axle-adjacent specs. The gas slide is axle-neutral. With an up-cycle and mix-shift running together, positioning by platform rather than powertrain is the robust play.

ARCHION 二次发售：丰田 / 戴姆勒各由 41.4% 降至约 25%——日系整合进入资本层收尾ARCHION secondary offering: Toyota / Daimler each cut from 41.4% to ~25% — Japan's CV consolidation enters its capital endgame6

ARCHION（日野 + 三菱扶桑整合后的控股公司，2026 年 4 月东证 Prime 上市）7/6 董事会决议实施二次公开发售：合计 787,855,700 股，戴姆勒卡车售 393,927,900 股、丰田售 393,927,800 股，两家持股各由 41.4% 降至约 25%（整合最终协议承诺），发售后流通股占比将超 35%；一手源新闻稿未披露金额，Nikkei 估算合计 2,000–3,000 亿日元。上期锚点交代：Archion 接任 CJPT 成员后的整合按既定路径推进。ARCHION (the holding company over Hino + Mitsubishi Fuso, listed on TSE Prime in April 2026) resolved a secondary offering on 6 Jul: 787,855,700 shares in total, with Daimler Truck selling 393,927,900 and Toyota 393,927,800, cutting each from 41.4% to ~25% (as committed in the integration agreement); free float will exceed 35% after the sale. The primary release gives no value; Nikkei estimates ¥200–300bn combined. Carry-over: the integration tracked since Archion joined CJPT is proceeding on its committed path.

关键数据Key data各 41.4% → 约 25%Each 41.4% → ~25%7.88 亿股 · Nikkei 估 2,000–3,000 亿日元787.9m shares · Nikkei est. ¥200–300bn流通股将超 35%Free float to exceed 35%
对业务的含义Implication

ARCHION 由「双母公司合资」转向独立公众公司，采购与平台决策集中度进一步上升——对配套供应商意味着日野 / 扶桑两套供应体系并轨提速；东南亚日系渠道的配套准入应按单一客户经营，采购窗口与平台代际值得按季追踪。

ARCHION shifts from a two-parent JV to an independent public company, further concentrating purchasing and platform decisions — for suppliers this accelerates the merging of the Hino and Fuso supply bases; treat Japanese-channel fitment access in Southeast Asia as a single account, tracking sourcing windows and platform generations quarterly.

一汽解放发布煤运场景方案：新能源中重卡年内破 2 万辆（+43% YoY）、自主电驱桥进主力车型FAW Jiefang's coal-haulage solution: NEV M&H trucks top 20k YTD (+43% YoY), in-house e-axle enters mainstream models7

一汽解放 7/3 在鄂尔多斯发布煤炭运输场景解决方案，按运距分层配置车型：200 km 内（J6G / 鹰驰）、200–500 km（J6 Pro / JH6）、500 km 以上（气电混动 / 子母车），技术要点含轻量化、自主电驱桥、气电增程；并联合宁德时代等成立煤运绿色生态联盟。数据内核（厂商口径，发布会稿已剥离营销话术）：今年以来解放新能源中重卡销量突破 2 万辆（+43% YoY），其中煤炭运输场景超 7,000 辆。On 3 Jul in Ordos, FAW Jiefang launched a coal-haulage solution with models tiered by haul length — under 200 km (J6G / Yingchi), 200–500 km (J6 Pro / JH6), over 500 km (gas-electric hybrid / drawbar combinations) — built on lightweighting, an in-house e-axle and a gas-electric range extender, plus a coal-logistics 'green ecosystem alliance' with CATL and others. The data core (OEM basis, marketing copy stripped): Jiefang's NEV medium-and-heavy truck sales passed 20,000 YTD (+43% YoY), over 7,000 of them in coal haulage.

关键数据Key data新能源中重卡 2 万辆+（+43% YoY）NEV M&H trucks 20k+ (+43% YoY)煤运场景 >7,000 辆Coal-haulage >7,000 units自主电驱桥 · 气电增程In-house e-axle · gas-electric EREV
直接关切Directly material对业务的含义Implication

头部 OEM 把自研电驱桥写进煤运主力车型——传统车轴供应商在电动化车型上的配套份额面临结构性替代，这是电驱桥主线在场景端的落地实证；煤运短倒同时是连接件 / 挂车的高磨损场景，解放的场景化打法与其配套链值得按季追踪。

A top OEM writing its in-house e-axle into mainstream coal-haulage models is field evidence of the e-axle thesis — conventional axle suppliers face structural substitution on electrified models. Coal short-haul is also a high-wear scenario for couplings/trailers; Jiefang's scenario-based play and its supply chain warrant quarterly tracking.

解放 CA6HV3 重型氢内燃机过环保认证、49 吨牵引车完成 10 万公里验证（简讯）Jiefang's CA6HV3 heavy-duty hydrogen ICE passes emissions certification; 49t tractor completes 100,000 km validation (brief)8

一汽解放自研 CA6HV3 重型氢内燃机通过国家环保排放认证，NOx 排放为国六限值的 5%；搭载「星熠」J6V 49 吨牵引车完成 10 万公里可靠性验证，整机与传统动力可互换、整车热管理架构无需改动（厂商口径）。FAW Jiefang's in-house CA6HV3 heavy-duty hydrogen internal-combustion engine passed national emissions certification with NOx at 5% of the China-VI limit; fitted to the 'Xingyi' J6V 49-tonne tractor it completed 100,000 km of reliability validation, with the engine interchangeable with conventional powertrains and no thermal-architecture changes required (OEM basis).

关键数据Key dataNOx = 国六限值 5%NOx at 5% of China-VI limit49 吨牵引车 · 10 万 km 验证49t tractor · 100,000 km validated
对业务的含义Implication

氢内燃机与传统动力整机互换、底盘架构不动——对车轴 / 连接件配套形态无近期影响，属动力路线多元化的技术储备信号，了解即可。

The hydrogen ICE swaps in for conventional powertrains with the chassis untouched — no near-term impact on axle/coupling fitment; a technology-hedging signal on powertrain diversity, for awareness only.

03挂车 / 零部件与竞争对手Trailers, Components & Competitors0
留白 · 竞对本周无实质动态　JOST、Hyva 本周仅参展英国 RTX 2026（6/30–7/2，展品级：JOST 牵引座 / 支腿常规展示、Hyva 快装举升套件与 ePTO）；SAF-Holland、BPW、Schmitz Cargobull、中集车辆、富华无并购 / 订单 / 产能 / 财报级动态。延续：GB 1589 修订（单胎单轴限值 7,000→8,000 kg，W27 收录）本周无新进展，待工信部终稿、继续跟踪。Blank · no material competitor news this week　JOST and Hyva only exhibited at the UK's RTX 2026 (30 Jun–2 Jul, product-showcase level: JOST's usual fifth-wheel/landing-gear display, Hyva's fast-fit tipping kit and ePTO); SAF-Holland, BPW, Schmitz Cargobull, CIMC Vehicles and FUWA had no M&A/order/capacity/earnings-grade news. Carry-over: the GB 1589 revision (single-tyre single-axle limit 7,000→8,000 kg, covered in W27) saw no new development — awaiting MIIT's final text, still tracking.
04矿用车 & 矿业Mining Vehicles & Mining1

力拓 × 中信发起矿业科技基金，投向指向绿色无人（AHS）矿卡——中国矿用车技术获国际资本背书Rio Tinto × CITIC launch a mining-tech fund pointed at green autonomous (AHS) mining trucks — international capital endorses Chinese mining-vehicle technology9

苏州工业园区「力拓-中信新新股权投资基金」6/26 启动，出资方含中信投资控股及其私募平台、力拓集团、陕西煤田地质集团等；投向为中国矿业科技、数字化与自动化、新能源与资源循环方案，International Mining 报道称其正推进对绿色无人驾驶（AHS）矿卡的投资（基金规模未披露）。矿业需求侧的关键信号（印尼镍 / 煤配额收紧）见宏观章。The Suzhou Industrial Park 'Rio Tinto–CITIC Xinxin Equity Investment Fund' launched on 26 Jun, backed by CITIC Investment Holdings and its PE platform, Rio Tinto Group, Shaanxi Coal Geology Group and others; it targets Chinese mining technology, digitalisation and automation, new energy and resource recycling, and per International Mining is moving to invest in green autonomous-haulage (AHS) mining trucks (fund size undisclosed). For the demand-side mining signal (Indonesia's nickel/coal quota squeeze) see the Macro section.

关键数据Key data力拓 + 中信系 + 陕煤地质 联合出资Rio Tinto + CITIC entities + Shaanxi Coal Geology投向：绿色 AHS 矿卡 · 矿业自动化Target: green AHS trucks · mining automation基金规模未披露Fund size undisclosed
直接关切Directly material对业务的含义Implication

国际矿业巨头以资本通道系统性引入中国绿色 / 无人矿卡方案，中国矿用车技术出海获需求侧背书；无人化 + 电动化矿卡对车轴提出线控与高承载新规格——是矿用车轴产品线的中期方向信号，后续盯该基金首批投资标的。

A global miner systematically channelling capital into Chinese green/autonomous mining-truck solutions is demand-side endorsement for their export; autonomous-plus-electric mining trucks push axles toward by-wire and higher-load specs — a medium-term directional signal for the mining-axle line. Watch the fund's first portfolio picks.

05亚洲市场Asia Markets5
东亚 · 日 / 韩 / 台 / 港 / 蒙East Asia · JP / KR / TW / HK / MN

日野 / 扶桑加入国交省 L4 自动驾驶卡车实装项目Hino / Fuso join MLIT's Level-4 autonomous truck deployment programme10

ARCHION 旗下日野与三菱扶桑 7/1 披露参加日本国土交通省「自动驾驶卡车实装支援项目」，以重型车制造商身份与高速公路自动驾驶卡车运输运营协议会合作，目标加速 L4 卡车在高速公路货运的商业化（日本拟自 2026 年起投入商业运营）；日野另参与 L4 物流挂车推进协议会及丰田通商牵头的联合体。项目路线与车队规模未披露。ARCHION's Hino and Mitsubishi Fuso disclosed on 1 Jul their participation in MLIT's Autonomous Truck Implementation Support Project, working as heavy-truck OEMs with the expressway autonomous-trucking operations council to accelerate Level-4 highway freight commercialisation (Japan aims to begin commercial operation from 2026); Hino also joins an L4 logistics-trailer council and a Toyota Tsusho-led consortium. Routes and fleet size undisclosed.

关键数据Key data国交省项目 · L4 高速干线MLIT programme · L4 expressway2026 年起商业运营目标Commercial ops targeted from 2026
对业务的含义Implication

L4 干线牵引 + 挂车协议会并行推进，意味着自动摘挂、挂车状态感知将进入日系规格书——第五轮座 / 连接件的电子化接口是中期产品方向信号。

L4 line-haul advancing alongside a trailer council implies automated coupling and trailer-state sensing will enter Japanese spec sheets — electronic interfaces on fifth wheels/couplings are a medium-term product signal.

台湾 6 月总市场 +25%（乘用电动车拉动；无 CV 细分，简讯）Taiwan June total market +25% (BEV passenger-car driven; no CV split — brief)11

台湾 6 月新车总市场 41,361 辆（+25% YoY，2025 年 6 月 34,320 辆），上半年累计 202,278 辆（+1.7% YoY）——增长由纯电乘用车拉动，为总市场口径、无大型货车细分公开，不作 CV 信号引用。日 / 韩 6 月 CV 协会数据未发布（月度节奏）；港 / 蒙留白。Taiwan's June total new-vehicle market reached 41,361 units (+25% YoY vs 34,320 in Jun-2025), H1 cumulative 202,278 (+1.7% YoY) — growth driven by BEV passenger cars; this is total-market caliber with no public heavy-truck split, and is not cited as a CV signal. Japan/Korea June CV association data not yet out (monthly cadence); HK/Mongolia blank.

关键数据Key data总市场 41,361（+25% YoY）· 口径：含乘用车Total 41,361 (+25% YoY) · incl. passenger carsH1 202,278（+1.7% YoY）H1 202,278 (+1.7% YoY)
对业务的含义Implication

总市场口径、乘用电动车驱动，对重卡 / 挂车配套无直接含义；台湾 CV 细分待月度深更时查 TTVMA。

Total-market caliber driven by BEV passenger cars — no direct read-through for HDV/trailer fitment; Taiwan's CV split to be checked at TTVMA in the monthly deep-dive.

东南亚 · 印尼（核心）/ 新 / 马 / 泰 / 越 / 菲Southeast Asia · Indonesia (core) / SG / MY / TH / VN / PH

马来西亚 BUDI 柴油补贴改革 7/1 全国实施：零售价转浮动，车队口径待核实（政策速记）Malaysia's BUDI diesel-subsidy reform live nationwide from 1 Jul: retail price floats, fleet caliber unverified (policy note)12

7/1 起马来西亚合资格个人经 MyKad 验证按 RM2.10/升购买补贴柴油（每人每月基础配额 200 升），零售柴油价同日转为市场浮动（财政部机制）；6/26 起补贴范围扩展至公司名下皮卡 / 吉普车型。商用车队走 SKDS 车队卡体系，本轮是否同步调整未见官方口径——对重卡 TCO 的实际影响待核实，暂按中性处理。From 1 Jul, eligible Malaysian individuals buy subsidised diesel at RM2.10/L via MyKad verification (base quota 200 L/month), while retail diesel switched to a floating market price the same day (MoF mechanism); from 26 Jun the subsidy extends to company-registered pick-up/jeep body types. Commercial fleets run on the separate SKDS fleet-card system, and no official word covers whether it changes in this round — the actual HDV TCO impact is unverified; treated as neutral for now.

关键数据Key data个人 RM2.10/L · 配额 200 L/月Individuals RM2.10/L · 200 L/month零售价 7/1 起浮动Retail price floats from 1 JulSKDS 车队口径待核实SKDS fleet caliber unverified
对业务的含义Implication

零售端转浮动后马来物流车队的柴油成本敏感度上升，但重卡端实际负担取决于 SKDS 是否调整（历史上车队价与零售补贴不同轨）——待核实后再评估，本周不作方向判断。

With retail floating, Malaysian fleets' diesel-cost sensitivity rises, but the actual HDV burden hinges on whether SKDS changes (fleet pricing has historically run on a separate track from retail subsidies) — assessment deferred until verified; no directional call this week.

留白 · 数据为月度节奏　印尼 GAIKINDO、越南 VAMA 6 月数据未发布（VAMA 约每月 10 日发布；1–5 月越南 CV 40,665 辆 +22% YoY 已于上期收录）；印尼宏观 / 配额传导见宏观章；泰 / 菲 / 新本周无实质 CV 动态。Blank · monthly cadence　Indonesia's GAIKINDO and Vietnam's VAMA June data are not yet out (VAMA publishes ~10th; Vietnam's Jan–May CV 40,665 units +22% YoY was covered last week); Indonesia's macro/quota transmission is in the Macro section; TH/PH/SG had no material CV news this week.
南亚 · 印度（⭐）/ 巴基斯坦South Asia · India (⭐) / Pakistan

印度 Tata 6 月 CV 40,805 辆（+35% YoY）、重卡 +31%，并自 7/1 涨价至高 2.5%India: Tata June CV at 40,805 units (+35% YoY), heavy trucks +31%, with prices up to 2.5% higher from 1 Jul13

Tata Motors 7/1 发布：6 月商用车销量（国内 + 国际）40,805 辆（+35% YoY，2025 年 6 月 30,238 辆），其中国内 36,599 辆（+31%）、国内 MH&ICV（Tata 口径：中重卡 + 中间吨位）16,327 辆（+27%）、HCV 重卡 9,645 辆（+31%）；Q1 FY27（4–6 月）CV 合计 108,488 辆（+27% YoY）。同日起 CV 全系涨价至高 2.5%，对冲原材料等投入成本。SIAM 行业口径 Q1 数据预计 7 月中发布（届时以 SIAM 署名更新）；巴基斯坦 PAMA 本周无窗口内数据，留白。Tata Motors reported on 1 Jul: June CV sales (domestic + international) of 40,805 units (+35% YoY vs 30,238 in Jun-2025), of which domestic 36,599 (+31%), domestic MH&ICV (Tata's caliber: medium-heavy plus intermediate tonnage) 16,327 (+27%), and HCV heavy trucks 9,645 (+31%); Q1 FY27 (Apr–Jun) CV totalled 108,488 (+27% YoY). Prices across CVs rose up to 2.5% the same day to offset input costs. SIAM's industry-caliber Q1 data is due mid-July (to be updated with SIAM attribution); Pakistan's PAMA had no in-window data — blank.

关键数据Key dataCV 40,805（+35% YoY）CV 40,805 (+35% YoY)HCV 重卡 9,645（+31% YoY）HCV trucks 9,645 (+31% YoY)Q1 FY27 108,488（+27% YoY）Q1 FY27 108,488 (+27% YoY)7/1 起涨价 ≤2.5%Prices +≤2.5% from 1 Jul
对业务的含义Implication

印度中重卡量增三成且头部 OEM 顺利传导成本涨价——需求有真实韧性，是本周亚洲最强增长极（厂商口径、行业面待 SIAM）；对车轴 / 挂车配套而言，印度在出海优先级中的权重应继续上抬。

India's medium-heavy trucks growing ~30% while the leading OEM passes through a price rise shows genuine demand resilience — Asia's strongest growth pole this week (OEM basis, industry picture pending SIAM); for axle/trailer fitment, India's weight in export priorities should keep rising.

中亚 · 哈萨克 / 乌兹别克Central Asia · Kazakhstan / Uzbekistan
留白 · 公开数据缺失　哈萨克 AKAB 5 月统计为付费报告、公开页无数字；乌兹别克无公开重卡 / CV 细分。按数据可得性分层留白，待月度深更以中国海关出口数据反推中国品牌渗透（海关 6 月数据未发布）。Blank · no public data　Kazakhstan's AKAB May statistics sit behind a paywall with no public figures; Uzbekistan has no public HDV/CV split. Left blank per the data-availability tiering — to be back-filled in the monthly deep-dive via China customs exports as a proxy for Chinese-brand penetration (June customs data not yet out).
西亚 / 中东 · 土耳其（OSD）/ 海湾West Asia / Middle East · Türkiye (OSD) / Gulf

土耳其 5 月总市场 −22.6%、总产量 −32.8%（OSD；卡车细分未提取，简讯）Türkiye May total market −22.6%, total output −32.8% (OSD; truck split not extracted — brief)14

土耳其 OSD 公布 5 月数据：总市场 86,387 辆（−22.6% YoY）、总产量 90,290 辆（−32.8% YoY）；1–5 月累计产量 −10%、出口量 −15%（出口额 +2%）、总市场 356,256 辆（−9.7% YoY）。以上为总市场口径，卡车 / CV 细分在 OSD 月报 PDF 中、本周未提取，6 月数据未发布。海湾 / 伊朗按数据分层留白。Türkiye's OSD reported May: total market 86,387 units (−22.6% YoY), total production 90,290 (−32.8% YoY); Jan–May output −10%, export volume −15% (export value +2%), total market 356,256 (−9.7% YoY). All total-market caliber — the truck/CV split sits in OSD's monthly PDF and was not extracted this week; June data not yet out. Gulf/Iran left blank per the data tiering.

关键数据Key data总市场 86,387（−22.6% YoY）· 含乘用车Total 86,387 (−22.6% YoY) · incl. PCs总产量 −32.8% YoYOutput −32.8% YoY
对业务的含义Implication

总市场深度收缩的背景下，土耳其商用车细分或同向承压（推断，待 OSD 卡车分项核实）——对土耳其方向的挂车 / 车轴需求持谨慎观察，下月取 OSD 卡车口径再定。

Against a deep total-market contraction, Türkiye's CV segment may be under similar pressure (inference — pending OSD's truck line-item) — cautious stance on Türkiye-bound trailer/axle demand until next month's OSD truck caliber.

06中国 OEM 出海China OEM Overseas Expansion1

6 月重卡出口初值同比 +约 35%——出海主线延续（简讯）June HDV exports flash +~35% YoY — the overseas thesis holds (brief)5

第一商用车网 6 月初值：重卡出口预计同比 +约 35%（5 月中汽协口径商用车出口 12 万辆 +44%、卡车 10.6 万辆 +49%，W27 已收录）。终值待中汽协发布；本周无新增出海项目 / 海外产能级动态。CVWorld's June flash puts HDV exports at roughly +35% YoY (May's CAAM caliber — CV exports 120k units +44%, trucks 106k +49% — was covered in W27). Pending CAAM finals; no new overseas-project or offshore-capacity news this week.

关键数据Key data6 月重卡出口初值 +约 35% YoYJun HDV exports flash +~35% YoY终值待中汽协Pending CAAM finals
对业务的含义Implication

出口延续高增，牵引销 / 第五轮座 / 车轴的海外配套与售后需求同步放大——出海仍是全年确定性最高的主线，与中国重卡总量、电动化并列为三条押注线。

Exports keep compounding, scaling overseas fitment and aftersales demand for kingpins/fifth wheels/axles — the overseas line remains the year's highest-conviction thesis, alongside HDV volume and electrification.

来源Sources
1国家发改委 7/3 调价（经新华网发布）+ 国家统计局旬度价格（柴油 / LNG）NDRC price cut of 3 Jul (via Xinhua) + NBS 10-day price series (diesel / LNG) 新华网NBS 6 月下旬价格2026-07-03
2财政部 · 税务总局 · 工信部 2026 年第 19 号公告（车船税）+ 答记者问 + 中国商用汽车网MoF · STA · MIIT Notice No.19 (2026) on vehicle-and-vessel tax + Q&A + cv.ce.cn 财政部公告原文答记者问cv.ce.cn2026-07-03
3印尼镍 / 煤：Mysteel（RKAB 触顶）+ Argus（煤出口 / 配额）+ Tempo（HBA）+ LME 镍价 + Bank IndonesiaIndonesia nickel/coal: Mysteel (RKAB cap) + Argus (coal exports/quota) + Tempo (HBA) + LME nickel + Bank Indonesia Mysteel(6/24)Argus 煤(6/26)Tempo HBALME 镍价bi.go.id2026-06-24 / 07-06
4越南国家统计局 NSO（H1 GDP，经 VietnamPlus / VnEconomy）+ 财政部放款进度（经 VietnamPlus）Vietnam NSO H1 GDP (via VietnamPlus / VnEconomy) + MoF disbursement (via VietnamPlus) VietnamPlus GDPVnEconomyVietnamPlus 放款2026-07-03
5第一商用车网 · 6 月重卡初值（经腾讯新闻转载）CVWorld · June HDV flash (via Tencent News re-publisher) 腾讯转载 （cvworld.cn 境外封锁，取转载；终值待中汽协）(cvworld.cn geo-blocked; via re-publisher, pending CAAM finals)2026-07-03
6ARCHION 官方新闻稿（二次发售）+ Reuters 转引 Nikkei（金额估算）+ Automotive WorldARCHION official release (secondary offering) + Reuters citing Nikkei (value estimate) + Automotive World ARCHION 新闻稿(PDF)Reuters/NikkeiAutomotive World2026-07-06
7中国商用汽车网（一汽解放煤运方案发布会，厂商口径、已剥软文）cv.ce.cn (FAW Jiefang coal-haulage launch; OEM basis, marketing copy stripped) cv.ce.cn2026-07-06
8中国商用汽车网（解放 CA6HV3 氢内燃机，厂商口径）cv.ce.cn (Jiefang CA6HV3 hydrogen ICE; OEM basis) cv.ce.cn2026-07-06
9International Mining（力拓-中信基金）International Mining (Rio Tinto–CITIC fund) im-mining.com2026-07-05
10ACT News（日野 / 扶桑 × 国交省 L4 项目）ACT News (Hino/Fuso × MLIT L4 programme) act-news.com2026-07-01
11Just Auto（台湾 6 月，交通部登记数据）Just Auto (Taiwan June, MOTC registrations) just-auto.com2026-07-03
12Malay Mail + The Edge Malaysia（财政部机制）+ Paultan（皮卡 / 吉普扩展）Malay Mail + The Edge Malaysia (MoF mechanism) + Paultan (pick-up/jeep extension) Malay MailThe EdgePaultan2026-07-01
13Tata Motors 官方新闻稿（Q1 FY27 / 6 月销量）+ Business Standard（涨价）Tata Motors official release (Q1 FY27 / June sales) + Business Standard (price rise) Tata MotorsBusiness Standard2026-07-01
14土耳其 OSD（5 月产销）Türkiye OSD (May production & sales) osd.org.tr2026-07