Foreword In 2026, the domestic car market ushered in the largest cold wave in history. According to industry forecasts, passenger car sales are expected to fall 15% year-on-year this year. Does the market still have structural growth opportunities against the backdrop of continued broad market contraction? The new action from the Beijing Auto Show has shown that carmakers are betting on the large-size SUV market. What is changing in this high-end market of nearly 3 million people will be interpreted by the Automotive Home Research Institute. 1. In the first half of 2026, the automobile market was under pressure, and medium-sized and large-sized SUVs became the only submarket to grow against the trend. According to the above risk data, the sales volume of the domestic passenger car market in the first half of this year was 8.69 million units, down 18% year-on-year; the sales volume of the new energy market was 4.51 million units, down 14% year-on-year, which also failed to withstand the pressure to say goodbye to continuous growth. From the perspective of the segment market structure, the five segments of mini cars, small cars, medium and large vehicles, medium and large SUVs, and large SUVs have maintained continuous growth in the past three years, but they have differentiated significantly in the first half of this year - mini cars, small cars, and medium and large cars fell by 66%, 14%, and 24% year-on-year, respectively. In contrast, medium-sized and large SUVs are still growing at a high rate. In the first half of this year, the sales volume of the large SUV market reached 880,000 units, an increase of 28% year-on-year, and it is expected to exceed 2 million units in the whole year. The sales volume of the large SUV market reached 350,000 units, an increase of 97% year-on-year, and it is expected to exceed 900,000 units in the whole year, becoming one of the few incremental heights in the stock market. 1. The core driving force of the growth driven by new energy and the accelerating rise and growth of pure electricity is entirely from new energy. The penetration rate of new energy in the two markets has been significantly higher than the overall vehicle market level, with the penetration rate exceeding 80%, and it is in the stage of rapid improvement. Among them, the sales volume of medium and large SUVs in the first half of the year was 730,000, an increase of 52% year-on-year, and the penetration rate of new energy was 82%. The growth of the pure electric market is particularly prominent, and its share has surpassed that of the plug-in and range-extending models, marking a key shift in the technical route structure. In the first half of the year, the sales volume of new energy in the large SUV market was 330,000, an increase of 110% year-on-year, and the penetration rate of new energy was 97%. At present, intermixing and range expansion still occupy the dominant share, but the share is being rapidly replaced by pure electric models. 2. New car launches continue to increase, and the number of cars on sale is steadily increasing. The number of large SUVs on sale in China's independent new energy brands dominates has increased from 113 in 2023 to 145 in 2026, and the number of large SUVs has also increased from 24 to 50. The proportion of large SUVs in the SUV market has increased year by year. In the first half of 2026, the number of new cars of the two levels increased, becoming the core track of the car companies' key layout. From the perspective of brand structure, the medium-sized and large SUV new car market is competed between luxury brands and China's independent new energy brands; the new product listing of large SUVs is absolutely dominated by China's independent new energy brands, and the new car placement of overseas brands is weak. 3. New cars become responsible for sales, the new energy completes the overall replacement of the new car iteration in the medium-sized and large SUV market, the CR5 concentration is stable at about 40%, the long tail effect of old models is strong, the total market share of listed models in the current year and the previous year is nearly 50%, and the new products and stock models form a benign complement. On the other hand, the large SUV market is extremely dependent on new cars. The sales volume of new cars listed that year accounted for nearly 60%, and the impact of new cars on the market structure is obvious. The head concentration continued to decline, and the CR5 concentration decreased from 88% in 2023 to 58% in the first half of 2026. The market share accelerated and dispersed. The sales list of Top10 models has been comprehensively dominated by China's new energy vehicles. Behind the new energy in the medium-sized and large SUV market has become the main force in sales. Its price center has exceeded 70,000 yuan, a decrease of more than 20% compared to 2023. Some new car prices have approached 100,000 yuan, the market concentration has dropped significantly, and internal competition has become more intense. In the large SUV market, the introduction of new fuel models has nearly stalled in recent years, and the track has been completely replaced by new energy. The average downward rhythm of the average price of large new energy SUVs is slower than that of medium and large SUVs, and the average price difference between the two models is still nearly 150,000 yuan, reflecting that cutting-edge technologies such as intelligent driving, chassis, and vehicle architecture continue to empower flagship large SUVs, build differentiated value barriers, and support stronger price resilience of the track. 4. Large-sized SUVs enter the competitive stage of "category upward and configuration convergence" In terms of space and comfort, the medium and large SUVs are mainly "second-row privileged" to meet immediate needs with independent seats, heating/ventilation/massage and other configurations; while large SUVs extend the comfort configuration to three rows with the advantage of wheelbase, realizing the first-class experience of "equal rights for all". However, the common short boards of both are the loading capacity of the spare compartment under full load. In terms of science and technology, large SUVs are facing the challenge of medium and large SUVs. The pure electric battery life is at the same level; there is no significant difference in the assembly rate of high-end intelligent driving; the assembly rate of 800V high-voltage fast charging exceeds 50%, and large SUVs are only slightly ahead. Looking at the pure electric market alone, medium-sized and large SUVs have achieved comprehensive reversal in core technology fields such as intelligent driving, battery life, and high-voltage platforms. II. Large six-seat SUVs - from the "Golden Circuit" to the "Colosseum" 1. The supply of new cars is concentrated in large SUVs, and the contribution of medium-sized and large SUVs to six-seat SUVs is reduced. The placement of new cars is stable, and the supply is steadily expanding. However, medium and large SUV models are mostly used for urban commuting and family mobility. The 5-seat SUV is more practical, and the market acceptance of the 6-seat SUV has declined. In the large SUV market, 6-seater model launches show explosive growth, with as many as 20 new vehicles on the market in the first half of 2026. Car companies use 6 seats as the core differentiated selling point to accurately match the rigid ride needs of multi-child families, long-distance self-driving, and high-end business. 6 seats have become the mainstream configuration for the launch of large SUVs. 2. Two differentiation methods of products: low-cost sinking, universal benefits, and huge body breakthroughs. Low price and overweight: Some car companies enter the market at a low price, rely on 6 large spaces to match the immediate needs of multi-child families, and greatly reduce the threshold for purchasing large-sized 6-seater SUVs. The main focus is on cost-effective ratio, and rich low-end six-seater supply. Giant body: Some car companies have launched models with a length of 5.3 meters and above to ensure the full load comfort of three rows and six seats, locking the long-distance self-driving and high-end business needs of multi-children families, and focusing on the mid- to high-end market of 200,000-400,000 yuan, becoming the main model for car companies to break through. 3. The product configuration has fully entered the stage of "high-end interior rolls" From the perspective of 8 mainstream new cars listed in 2026, the space is getting larger and larger. Over half of the cars are over 5.2 meters in length and 3.1 meters in wheelbase, almost all of them are equipped with high-end intelligent driving functions and 800V high-voltage platforms. "Refrigerator color TV sofa (second row)" has also become a universal configuration function, and product competition has shifted to third-row treatment, trunk space and long battery life. From the perspective of product selling points, endurance mileage, seat comfort and intelligent driving function are the three core selling points that are most concerned by users, and users' attention to space is also high, but manufacturers' publicity efforts are slightly insufficient, so they can increase publicity efforts. At the same time, we also found that the negative voices of users were concentrated in the aspects of battery life, the third row of space, and the trunk space. Regarding battery life, users generally said that "the gap between pure battery life and expectations is large", "the winter battery life is severely shrinking", and "high-speed energy consumption is high". In the third row of space, the centralized feedback "low cushion", "tall and easy to top", and the hard feeling of sitting led to poor long-distance experience. The trunk was referred to as "small space" when it was full. In terms of subsequent new car marketing, it is recommended to start from the three core selling points of users and carry out new product marketing for user slots. Conclusion Even in the growing large-size model market, the competition intensity is intensifying this year, and it is difficult to effectively impress users by simply relying on the stacking configuration parameters. Facing the next stage of competition, the focus of marketing needs to return to the real demands of users, with a more solid endurance performance and a more suitable space experience for use scenarios, truly responding to the core concerns of home users - pragmatic and comfortable, is the purchase logic at the bottom of the large-size SUV market. (By/Automobile House Research Institute).