作 者 / 涂彦平 编 辑 / 张 南 设 计 / 赵 昊然 2025年6月27日，新修订的《反不正当竞争法》在十四届全国人大常委会第十六次会议上表决通 过，将自2025年10月15日起施行。 自1993年实施以来，《反不正当竞争法》已经推出了30多年，2017年、2019年有过两次修订，现在 迎来第三次修订。 全国人大常委会法工委发言人黄海华表示，这次修订的方向包括"贯彻党中央关于综合整治'内卷 式'竞争的精神，增加关于公平竞争审查制度的规定""着重解决大型企业等经营者滥用相对优势地 位拖欠中小企业账款问题，提高行政处罚机关层级"等内容。 内卷让中国车企更快转向海外，但是它们在海外市场也打起了价格战。以至于奇瑞控股集团董事长 尹同跃在第十七届轩辕汽车蓝皮书论坛上呼吁，中国汽车出海要有大格局，"不能把价格战卷向海 外，更不能相互诋毁、拆台，让别人笑话"。 当前汽车行业普遍存在车企为抢占市场牺牲利润、发动价格战的行为，在中国国内，不少整车厂还 滥用优势地位长期拖延供应商货款，有的更是登峰造极。 就正在反内卷的汽车行业来说，《反不正当竞争法》修订后新增的第十五条是一个亮点。 "大型企业等经营者不得滥用自身资金、技 ...

Core Viewpoint - The article discusses the overwhelming success of Xiaomi's YU7 SUV, which achieved over 240,000 pre-orders within 18 hours of its launch, raising questions about the automotive market dynamics and the implications for traditional car manufacturers [5][6][8]. Group 1: Market Dynamics - Xiaomi YU7's launch saw a staggering 200,000 pre-orders within just 3 minutes, and over 600 billion yuan in sales calculated at an average price [5][6]. - The automotive industry in China has entered a phase of stagnation, where increased sales for one brand directly correlate to decreased sales for others, highlighting a competitive and challenging environment [8][9]. - Traditional car manufacturers expressed shock and concern over Xiaomi's rapid success, indicating a potential acceleration in the competitive landscape of the automotive sector [11][12]. Group 2: Marketing and Branding - Xiaomi's marketing strategy is perceived as a blend of emotional engagement and leveraging its existing customer base from the smartphone sector, rather than traditional marketing tactics [20][21]. - The success of Xiaomi YU7 is attributed to its ability to resonate with consumer desires for high-quality design at a lower price point, effectively capturing the market's attention [27][39]. - The article notes that Xiaomi's approach is not merely about replicating existing designs but rather about innovating within the context of consumer expectations and market trends [27][39]. Group 3: Controversies and Criticisms - There are concerns regarding the authenticity of the pre-orders, with some suggesting that the high numbers may be inflated due to speculative practices and the involvement of resellers [34][36]. - Critics argue that Xiaomi's definition of "pre-orders" may differ from traditional industry standards, leading to confusion about actual demand [36][39]. - The design of Xiaomi's vehicles has faced accusations of being overly similar to luxury brands, raising questions about originality in the automotive design space [23][25].

撰 文 / 牛一龙 编 辑 / 张 南 2025年6月26日晚上，小米汽车旗下首款SUV车型小米YU7正式上市，开放购买1小时，大定数量便 突破了28.9万。虽然说可能有黄牛搅局，但是造车新势力这样来势凶猛让传统车企可能还是要黯然 伤神。 小米 YU7 正式上市前，当天下午3时，东风汽车集团有限公司（简称东风公司）召开大会，对旗下 20万元以内的东风乘用车业务、组织、人事等进行重大变革，新成立东风奕派汽车科技公司。 官方通稿说，东风汽车集团股份有限公司（简称东风集团）奕派汽车科技公司（简称新东风奕派） 成立，旨在通过聚焦整合商企、研发、生产、供应链、销售及服务等全价值链的优质资源，全速推 动东风汽车自主乘用车事业的发展。 知情人士透露，新公司将实现业务整合和闭环，采用一个公司一体化运营模式，整合东风乘用车销 售有限公司、东风乘用车制造总部、东风公司总部和东风研发总院的相关职能和人员。而旗下的风 神、纳米、奕派三大品牌仍将保留，各自发挥独特优势。 《汽车商业评论》了解到，在东风自主乘用车的大版图中，除了此次变革涉及的20万元以下的新东 风奕派，还有定位在20万-30万元的岚图，以及30万-40万元以上的猛士科技 ...

Core Viewpoint - Continental Group announced the decision to sell its ContiTech division in 2026, marking a strategic shift towards becoming a pure tire manufacturer focused on value creation, profitability, and cash flow [4][5][10]. Company Strategy - The decision to split is a result of extensive analysis and evaluation by the executive board, indicating a fundamental change in the business model to adapt to a complex market environment [5][12]. - The shift from a diversified business model to a focus on core tire manufacturing is seen as essential for enhancing operational efficiency and profitability [12][21]. - The company aims to concentrate resources on the tire business, which is expected to drive growth and improve market competitiveness [14][21]. Financial Performance - The overall sales forecast for the group is adjusted to €19.5 billion - €22 billion, with an adjusted EBIT margin of 12.0% - 14.5% [9]. - The tire division is projected to have a higher profit margin of 13.0% - 16.0%, reflecting a deep reflection and re-planning of the business profitability model [9][21]. - Since the announcement of the split, the stock price has surged approximately 46%, indicating strong market approval of the strategic shift [10][23]. Market Impact - The restructuring is expected to optimize resource allocation, allowing Continental to focus on its strengths in the tire market, thereby enhancing its resilience and sustainable development capabilities [23][28]. - The shift from diversification to specialization may serve as a model for other companies in the industry, encouraging them to reassess their business models and strategies [26][28]. - The transformation of Continental Group is likely to trigger a chain reaction in the industry, promoting further consolidation and a shift towards more specialized and efficient operations [28][29].

Core Viewpoint - The electric luxury vehicle market is facing significant challenges, with major brands like Mercedes, Ferrari, and Porsche experiencing disappointing sales and production cuts despite a general increase in global electric vehicle sales [4][5][6][7]. Group 1: Sales Performance - Mercedes' electric G-Class SUV has seen poor sales, with only 1,450 units sold in Europe by April, compared to 9,700 units of the gasoline version [11]. - Ferrari has delayed the launch of its second electric vehicle to at least 2028 due to weak demand [5]. - Porsche has reduced production plans for its electric models, including the Taycan, which has seen a 49% drop in sales [20]. Group 2: Market Dynamics - The global electric vehicle market is booming, with a projected 20 million units sold by 2025, accounting for over 25% of total vehicle sales [18]. - The International Energy Agency (IEA) forecasts that by 2030, electric vehicles will make up over 40% of the market, driven by smaller and more affordable models [19]. - China dominates global electric vehicle production, accounting for over 70% of output, and has exported nearly 1.25 million electric vehicles [19]. Group 3: Consumer Preferences - Consumers are gravitating towards lower-priced gasoline models rather than expensive electric versions, as seen with the G-Class where buyers prefer the gasoline variant for its better value [14][21]. - The electric G-Class has a significantly lower range (239 miles) compared to its gasoline counterpart (500 miles), which is a critical factor for consumers [15]. - The trend indicates a shift away from high-end electric vehicles towards more affordable entry-level models, as traditional luxury strategies are becoming less effective [21][23]. Group 4: Strategic Shifts - Luxury brands are reassessing their electric vehicle strategies, with companies like Bentley and Lamborghini delaying electric vehicle launches and extending the timeline for phasing out gasoline engines [20]. - The automotive industry is encouraged to adopt a strategy similar to Ford's Model T, focusing on affordable, mass-produced electric vehicles rather than high-end models [23].

Core Viewpoint - The article discusses the mixed opinions surrounding Tesla's Robotaxi initiative, highlighting both skepticism from experts and enthusiasm from the market, indicating a significant divide in perceptions about its potential success and valuation [4][26]. Group 1: Expert Opinions on Robotaxi - Michael Smitka, an economics professor, expresses skepticism about the Robotaxi business model, citing high operational costs and limited market size as major concerns [5]. - Horizon founder Yu Kai also downplays the significance of Robotaxi, suggesting that true personalization in transportation is the larger trend [5]. - In contrast, there is considerable excitement in the market following Tesla's entry into the Robotaxi space, with many stakeholders eager to participate [6]. Group 2: Tesla's Robotaxi Trial - Tesla launched a trial of its Robotaxi service in Austin, Texas, with 10-20 vehicles, although reports suggest up to 35 were deployed [8]. - The service operates on an invitation-only basis, utilizing the Tesla App for ride requests and is available in a designated area from 6 AM to midnight [10]. - The fare is set at a flat rate of $4.20 per ride, with plans for dynamic pricing in the future based on various factors [12]. Group 3: Performance and Challenges - User feedback on the trial has been generally positive, though some issues such as slow navigation and route misjudgments have been reported, prompting an investigation by the NHTSA [14]. - Tesla's Full Self-Driving (FSD) system relies on a vision-based approach without Lidar, which the company claims enhances scalability and cost efficiency [15]. - Elon Musk aims to deploy 1,000 Robotaxis within months and expand to 25 cities by the end of 2025, competing directly with Waymo [16]. Group 4: Market Valuation and Expectations - Following the trial launch, Tesla's stock surged over 8%, with analysts raising price targets significantly, suggesting a potential market cap of $2 trillion [21]. - Some analysts predict that the Robotaxi business could be valued at nearly $1 trillion by 2029, emphasizing a shift from one-time vehicle sales to a recurring revenue model [21]. - Morgan Stanley estimates that the potential valuation of Tesla's FSD and Robotaxi business could account for nearly half of the company's current valuation [22]. Group 5: Regulatory Environment - The regulatory landscape for Robotaxi operations is inconsistent, with Texas being one of the few states allowing Level 4 autonomous driving trials [30]. - California has a more stringent regulatory framework, requiring multiple permits for testing and commercial operations, which Tesla has yet to secure [33]. - The article highlights the potential risks associated with regulatory changes and the need for Tesla to enhance transparency and communication with regulators [38]. Group 6: Cleaning Technology for Robotaxi - Tesla is developing an automated cleaning system for its Robotaxi fleet to ensure maintenance without human intervention [41]. - The cleaning system includes features for automatic camera cleaning and a robotic cleaning system at operational hubs [45]. - This approach aims to address the challenges of maintaining cleanliness in a fully autonomous vehicle environment [48].

Core Viewpoint - Stellantis is considering various options for its struggling luxury brand Maserati, including a potential sale, as part of a broader strategy to streamline its extensive portfolio of 14 brands [4][10][12]. Group 1: Company Strategy and Brand Management - Discussions regarding Maserati's future began before the appointment of the new CEO, Antonio Filosa, indicating ongoing concerns about the viability of Stellantis's numerous brands [5][6]. - Stellantis has engaged McKinsey to analyze the impact of U.S. tariffs on Maserati and Alfa Romeo, while also evaluating future strategies for these brands [6][10]. - The company recognizes that having too many brands complicates resource allocation, necessitating a prioritization of its brand portfolio [10][12]. - Internal opinions within Stellantis's board are divided on Maserati's future, with some members advocating for a sale due to insufficient resources to revitalize the brand, while others believe it still holds significant value [12][13]. Group 2: Market Challenges and Performance - Maserati is facing significant challenges, including competition from affordable Chinese brands and high U.S. import tariffs that disproportionately affect luxury brands reliant on imports [15][16]. - The brand's performance has been poor, with a projected sales drop of over 50% in 2024, resulting in an adjusted operating loss of €260 million [21][22]. - Maserati's product lineup is weak, with no new models planned for release, and previous investments of €1.5 billion have been written off, leading to the cancellation of certain projects [22][24]. - The brand's current offerings, including the Gran Turismo and MC20, lack broad appeal and are insufficient to sustain the brand's viability [26]. Group 3: Industry Insights - The situation at Stellantis reflects broader industry challenges related to brand management and market dynamics, suggesting that maintaining 14 independent brands is no longer sustainable [29][30]. - Analysts believe that streamlining the brand portfolio could enhance Stellantis's profitability by allowing for more focused investment in core brands [29]. - The fragmentation of brand influence by region complicates traditional global branding strategies, necessitating a shift towards localized strategies that leverage regional brand assets [30][31]. - The future success of automotive companies will depend on operational excellence and the ability to adapt to the rapidly changing landscape of electrification and smart technology [31].

编 译 / 钱亚光 设 计 / 张 萌 来 源 / www.autonews.com, content.rolandberger.com 6月23日，《美国汽车新闻（Automotive News）》发布了2025全球汽车零部件供应商百强榜。 Automotive News研究与数据中心对数百家公司进行了调查，以确定其年度全球前 100 大供应商排 名。榜单根据供应商对汽车制造商的年销售额进行排名，并且不包括售后业务的收入以及对除汽车 制造商以外的其他公司的销售收入。 目前全球汽车零部件供应商格局受到电动化、智能化以及区域市场变化等因素加剧的竞争所影响。 尽管2025全球汽车零部件供应商百强榜的完整榜单尚未公开发布，但来自行业报告、财务数据和市 场分析所提供的信息揭示了关键趋势。 1.传统巨头凭借战略调整 占据主 导地位 博世（Bosch，德国）仍保持全球最大的供应商地位， 2024 年汽车业务部门营收至543.72 亿美元， 同比下降了 近 3%，这反映出传统内燃机系统方面所面临的挑战。该公司正转向电动化和软件定义 的出行方式，并在中国建立了与先进驾驶辅助系统（ADAS）相关的合作伙伴关系。 电装（Dens ...

Core Viewpoint - The article discusses the rapid advancement and application of autonomous driving technology in commercial vehicles, particularly in mining and port operations, highlighting the shift from traditional methods to intelligent, automated solutions that enhance efficiency and reduce costs [4][5][9]. Group 1: Autonomous Driving in Mining - The introduction of autonomous trucks in the Yimin open-pit coal mine has transformed traditional transportation methods, reducing the need for human drivers significantly [4][12]. - Autonomous mining trucks can operate without drivers, utilizing advanced technologies to navigate and perform tasks, which has led to a reduction in labor costs by 35% and a decrease in safety incidents [17]. - Companies like Taga Zhixing have pioneered the development of autonomous mining vehicles, achieving operational efficiencies that match or exceed human-driven vehicles [19]. Group 2: Autonomous Driving in Ports - The deployment of autonomous container trucks at ports, such as the Yangluo Port, is becoming a critical component of smart port construction, enhancing operational efficiency [7][26]. - These autonomous trucks are equipped with multiple sensors and utilize 5G technology for real-time communication, allowing for precise navigation and task execution [8][32]. - The successful implementation of autonomous vehicles in ports is expected to lead to a nationwide rollout, with plans to replicate the model across 50 ports in the next three years [32]. Group 3: Technological Innovations - Companies are developing customized technologies, such as "balanced compaction," to enhance the operational efficiency of autonomous vehicles in challenging environments like mining [14]. - The integration of AI and advanced sensor technologies enables autonomous vehicles to make real-time decisions, improving safety and operational efficiency [30][34]. - The use of electric and hybrid models in commercial vehicles is on the rise, aligning with the trend towards sustainable energy solutions in the industry [15]. Group 4: Market Trends and Future Outlook - The market for autonomous commercial vehicles is expected to grow significantly, with projections indicating a penetration rate of 10% in mining by 2026-2027 [43]. - The article emphasizes the importance of regulatory support and technological advancements in facilitating the widespread adoption of autonomous driving in both closed and open environments [46][50]. - The future of commercial vehicle automation is promising, with expectations for large-scale commercial applications that will transform transportation and logistics [50].

Core Viewpoint - Toyota is set to increase prices for certain models in the U.S. market starting July 2025, with an average increase of approximately $270 for Toyota brand vehicles and $208 for Lexus models, reflecting a response to rising costs and market conditions [2][4][23] Price Adjustment Details - The price adjustment is described by Toyota as a "routine price review" and is not directly linked to the recent 25% tariffs imposed by the U.S. government on imported vehicles and parts [3][5] - This marks the second significant price increase by Toyota in the U.S. within two years, following a 3% to 5% increase in 2023 due to rising logistics costs, high raw material prices, and increased labor costs in North America [4][23] Cost Pressures - The new tariffs are expected to add approximately $1.25 billion in additional costs for Toyota in the fiscal year 2025 [8] - Despite a gradual decrease in U.S. inflation, the overall operating costs in the automotive industry remain high, with raw materials, energy prices, and logistics costs not returning to pre-pandemic levels [9] Consumer Impact - The average price increase of $270 may not seem significant, but it could influence purchasing decisions for mainstream family models like RAV4, Camry, and Corolla [12][13] - For example, the base model RAV4's suggested retail price may rise from approximately $29,250 to nearly $29,500, potentially increasing total costs by $500 to $800 when considering state taxes and financing rates [14] Financial Implications - The price increase is expected to help alleviate profit pressures in the short term, as Toyota anticipates a more than 30% decline in net profit year-over-year for the first quarter of fiscal 2025 due to new tariffs, rising raw material costs, and currency exchange losses [16][15] - Analysts suggest that without price adjustments, Toyota's profitability in the North American market could continue to be under pressure, affecting future R&D investments and dealer channel health [17] Dealer Network Effects - The price increase may have indirect effects on the U.S. dealership system, allowing dealers of popular models with low inventory to maintain or improve their bargaining power, while potentially causing consumers in slower sales regions to hesitate or switch to the used car market [18] Strategic Adjustments - Toyota is accelerating its strategic transformation in response to the complex U.S. market environment, including increasing production of hybrid models domestically and investing in new battery and power system factories in North Carolina and Mississippi [19] - The CFO of Toyota stated the company will continue to focus on the North American market while ensuring profitability, although market acceptance of price increases remains to be seen [20] Market Context - The average price of new cars has risen from $35,000 to nearly $47,000 over the past two years, creating multiple consumer challenges due to high prices, tightening loan policies, and uncertain economic forecasts [21][22] - Overall, Toyota's price increase reflects a passive response to the challenges of tariffs, rising manufacturing costs, and declining profits, showcasing its cautious global business approach [23]