【文/观察者网 张菁娟】新旧势力交锋，中国车企再添胜绩。 据彭博社10日报道，2025年，比亚迪全球销量首次超越美国传统汽车巨头福特。 当地时间2026年2月9日，印度尼西亚雅加达，2026年印度尼西亚国际汽车展的比亚迪电动汽车展区。 IC photo 作为中国新能源汽车行业的领军者，比亚迪近年大举进军欧洲、南美、亚洲市场。2025年，比亚迪海外 销量超105万辆。 比亚迪品牌及公关部门总经理李云飞上个月（1月24日）在上海的一次媒体发布会上表示，该公司计划 在2026年向中国以外地区销售130万辆汽车。 值得一提的是，美国国际贸易法院近日披露，比亚迪美国多家子公司已于1月26日发起诉讼，指控美国 政府多项关税政策不合法，并要求退还税款。 报道称，福特汽车去年的批发销量下降近2%，略低于440万辆，而比亚迪1月公布的销量为460万辆。这 家美国汽车制造商周二（10日）公布的数据证实，比亚迪已跃升至全球销量排行榜第6位，领先福特一 位。 丰田汽车则连续六年占据第一的位置，全球销量增长4.6%，至1130万辆。 尽管去年福特在美国市场销量有所增长，但在欧洲，尤其是在中国，它的市场份额却下降。比亚迪、小 米、吉利等 ...

乘联分会的数据显示，2025年主流合资品牌累计销量为577万辆，在乘用车市场的份额已经从2020年的51%跌到了24%。 5年时间，市场占有率缩水一半，合资品牌似乎再也不会有未来了。 不过当我们仔细拆解2025年的销量结构，会发现合资品牌似乎已经有了一些止跌回稳的迹象。 从市场大盘来看，2025年主流合资品牌的销量比上一年减少53万辆，是过去五年来的最低值，销量下跌幅度从去年的15.7%收窄至8.4%。 除了大盘的整体回暖之外，去年南北丰田、长安马自达以及北京现代等几家合资车企实现了销量的逆势增长，并且它们增长的原因各不相同，大家都逐渐 摸索到了适合自己的生存策略。 此外，南北大众、上汽通用、东风日产虽然没有实现销量增长，但是销量跌幅都有所收窄，稳住了各自的基盘。 本田和福特的销量还在继续下沉，新能源转型也没有什么起色。但某种程度上，这是一种主动选择的结果。在努力的边界收益很低的时候，收缩也未必不 是一种明智的选择。 NO.1 合资企稳 并不全靠新能源 面对自主品牌的围追堵截，快速推动新能源转型成为了合资车企的头等大事。 过去两年，大家都在践行着全新的合资模式——将研发主导权转移给中方、融合本土化智能技术并调 ...

福特汽车公司(F.N)周二发布的第四季度财报显示，其当季业绩出现4年来最大的季度盈利不及预期，同 时指引2026年将成为公司业绩反弹的一年。另外，福特首次在全球汽车销量上落后于比亚迪。 福特对2026年的指引包括：经调整息税前利润（EBIT）为80亿至100亿美元，高于去年的68亿美元；经 调整自由现金流为50亿至60亿美元，高于2025年的35亿美元；资本支出为95亿至105亿美元，高于此前 的88亿美元。 根据LSEG的数据，该公司最新的每股收益较一致预期低32%，这是公司自2024年以来首次季度业绩不 及预期，也是自公布2021年第四季度业绩、与预期相差42%以来表现最差的一次。 公司表示，此次业绩不及预期主要源于约9亿美元的意外关税成本，这与汽车零部件抵免政策未能如预 期提前生效有关。截至12月15日，福特原本确认第四季度息税前利润为77亿美元，但额外成本使这一数 字降至68亿美元。 她还称，预计福特在2026年的净关税影响同比大致持平，约为20亿美元。她补充说，诺维利斯火灾在去 年下半年对福特造成了约20亿美元的影响。 豪斯与福特首席执行官吉姆·法利（Jim Farley）表示，尽管存在影响业绩的特 ...

2025财年全年营收1873亿美元，净亏损为82亿美元。 北京商报讯（记者 蔺雨葳）2月11日，福特汽车发布的2025财年四季度业绩报告显示，公司四季度营收 459亿美元，同比减少5%；调整后每股收益0.13美元，上年同期0.39美元；调整后息税前利润10.4亿美 元，同比减少51%；净亏损则达到了111亿美元。 ...

聚焦"产业融合"，以"乐园+"模式延伸链条。发挥项目带动作用，推动乐园从单一景点向产业融合平台发展。探索"乐园+赛事""乐园+活动"，成功举办福 特新车发布会、智己、华为汽车试驾活动、2025山东(邹城)板栗山汽摩越野赛、福特烈马创造营等赛事活动20余次，吸引来自国内外高端客流30余批次； 自然衍生出'乐园+服务'，带动周边村民发展民宿和农家乐7处。实现"以一个乐园带动一片产业"的融合发展格局。 在邹城市城前镇这片生态环境优美的土地上，一座引进美国福特全球顶级户外越野IP打造的中国首座福特户外主题乐园正在改变着乡村文旅的发展图景。 城前镇以开放创新的战略思维，将国际顶级品牌与本土生态优势深度融合，成为驱动乡村全面振兴的产业新引擎。 坚持"特色为王"，以差异化定位打开市场。依托美国福特在全球户外越野领域的顶级资源，从选址、规划到设计建设，全程由福特专业团队负责，严格按 照全球最高标准打造，是福特在全球的第七座、北美之外首座、也是中国首座户外主题乐园。项目赛道由福特首席赛道专家亲自设计，园林部分也由美国 设计师负责，是中国首条北美AORX认证赛道，也是亚洲最大的丛林越野赛道。项目还提供直升机、热气球、路亚垂钓、浆 ...

Market Overview - Major equity averages experienced a decline towards the end of the trading day, despite the S&P 500 hitting a record high earlier in the session [2][5] - The S&P 500 closed down approximately 0.3%, the Nasdaq down about 0.6%, while the Dow saw a slight increase of 0.1% [6] - Trading volume in the S&P 500 was down 15% from the ten-day average, indicating a cautious market sentiment [4] Economic Indicators - Investors are awaiting a significant jobs report, which is expected to influence market sentiment and the Federal Reserve's decisions [5] - The upcoming inflation report on Friday is also anticipated to provide insights into the U.S. economy [5] Company Performances - Datadog's stock rose nearly 14% after beating expectations in its fourth-quarter results, despite a weaker full-year forecast [10] - Spotify saw a significant increase of almost 15%, attributed to adding 38 million new users, reaching a total of 751 million [12] - European Wax Center's stock surged 43% after agreeing to be taken private by General Atlantic, valuing the company at approximately $330 million [14][15] Notable Declines - Alphabet's shares fell 1.8% after raising nearly $3 billion in debt, highlighting the funding needs of tech companies [16] - Coca-Cola's stock declined as the company projected organic sales growth of 4-5% for 2026, slightly below analyst expectations [17] - Wealth management firms, including Charles Schwab and Raymond James, experienced declines of 7.4% and 8.8%, respectively, following the launch of a new tax planning offering by Altruist [18] Earnings Reports - Ford reported an adjusted EPS of $0.13, below the estimated $0.18, and projected adjusted EV for 2026 between $8 billion to $10 billion [20] - Robinhood's stock dropped approximately 7% in after-hours trading after its fourth-quarter net revenue missed analyst estimates [21] - Lyft's stock fell about 15% in after-hours trading despite authorizing a new share buyback, as the outlook for the first quarter was lower than expected [23][24] - Zillow Group met revenue estimates but provided a first-quarter revenue outlook that was below analyst expectations [25]

Summary of Key Points Core Viewpoint - The automotive industry, particularly Ford, is facing significant financial impacts due to tariffs, with expectations of continued high costs in the coming years. Group 1: Tariff Costs - Ford paid $2 billion in tariffs in 2025 and anticipates similar expenses in 2026 [1] - General Motors reported $3.1 billion in tariff costs for 2025 [6] - Stellantis incurred 1.2 billion euros (approximately $1.4 billion) in tariffs in 2025 and expects to pay 1.6 billion euros (about $1.9 billion) in 2026 [6] Group 2: Impact of Tariffs - The automotive industry is projected to face a combined $7 billion tariff-related hit to earnings in 2025, affecting both automakers and their suppliers [8] - The imposition of tariffs has led to production suspensions, such as Stellantis halting certain models in Canada, and Ford launching an employee discount initiative to mitigate consumer costs [7] - AutoNation reported a 10% decline in same-store new vehicle sales and a 5% decline in used vehicle sales, attributed to consumers purchasing vehicles earlier in anticipation of tariffs [9] Group 3: Expectations and Adjustments - Ford's tariff relief program was expected to be retroactive to May but was later confirmed to only apply from November, resulting in an additional $900 million in tariff costs [2] - The automotive industry is experiencing supply chain disruptions and increased product prices due to the tariffs, impacting cash flow for thousands of suppliers [8]

Core Viewpoint - Lucky Minerals Inc. has announced amendments to its Option Agreement, extending the deadlines for completing the transaction and clarifying terms related to the acquisition of mineral claims [1][2][3]. Group 1: Option Agreement Amendments - The Outside Date for completing the transaction has been extended from April 30, 2025, to June 30, 2025, and subsequently to August 31, 2025, and then to October 31, 2025 [1][2][3]. - The Option Agreement has been clarified through multiple amending agreements to ensure all parties understand their obligations [1][2][3]. Group 2: Mineral Claims Transfer - Fire Gold Resources Inc. transferred approximately 135 mineral claims to Patricia Lafontaine, with 46 claims allowed to lapse as they were not significant to the acquisition [4]. - As of April 28, 2025, Patricia Lafontaine is the sole holder of the transferred claims under the amended Option Agreement [4]. Group 3: Financial Obligations and Payments - The Company has made various cash payments under the Option Agreement, including $20,000 for work expenditures completed prior to June 30, 2025, and additional payments totaling $95,000 for various agreements and fees [5][6][7]. - The Company is required to issue a maximum of 7,500,000 shares at a floor price of $0.10, pay $750,000, and incur $4,000,000 in expenditures to complete the acquisition [8]. Group 4: Regulatory Approvals and Funding - The completion of the transactions is subject to receiving all required regulatory approvals [9]. - The Company is completing a private placement for aggregate gross proceeds of $1,080,000, with estimated allocations of $800,000 for working capital and debt reduction, and $200,000 for property-related expenses [9].

Core Insights - Ford Motor Company reported a revenue of $42.5 billion for the quarter ended December 2025, reflecting a decrease of 5.4% year-over-year, while EPS was $0.13, down from $0.39 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $41.16 billion by 3.27%, but the EPS fell short of the consensus estimate of $0.17 by 22.2% [1] Financial Performance Metrics - Wholesale Units for Ford Blue were 712 thousand, surpassing the average estimate of 636.9 thousand; Ford Pro reported 334 thousand, slightly below the estimate of 345.33 thousand; and Ford Model e had 37 thousand, below the estimate of 40.16 thousand [4] - Revenues excluding Ford Credit were $42.45 billion, exceeding the four-analyst average estimate of $40.54 billion, but represented a year-over-year decline of 5.5% [4] - Ford Credit revenues were $3.4 billion, slightly below the average estimate of $3.44 billion, showing a year-over-year increase of 4.2% [4] - External revenues for Ford Blue were $26.2 billion, exceeding the two-analyst average estimate of $23.57 billion, but down 3.9% year-over-year; Ford Pro revenues were $14.9 billion, below the estimate of $15.04 billion, reflecting an 8.3% decline; and Ford Model e revenues were $1.3 billion, above the estimate of $1.22 billion, down 8.1% year-over-year [4] - Adjusted EBIT for Ford Credit was $701 million, exceeding the average estimate of $573.75 million; Ford Blue's adjusted EBIT was $727 million, below the estimate of $779.3 million; Ford Pro's adjusted EBIT was $1.23 billion, below the estimate of $1.43 billion; and Corporate Other reported an adjusted EBIT of -$406 million, better than the estimate of -$540.48 million [4] Stock Performance - Ford Motor's shares have returned -3.1% over the past month, while the Zacks S&P 500 composite remained unchanged; the stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential outperformance in the near term [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☑ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2025 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________ Commission file number 1-3950 Ford Motor Company (Exact name of Registrant as specified in its charter) 313-322-3000 (Registrant's telephone number, in ...