格隆汇2月25日｜自动驾驶公司Wayve在D轮融资中筹集12亿美元，估值达到86亿美元。本轮融资由 Eclipse、Balderton和日本软银集团旗下愿景基金2号领投，英伟达、微软和优步(Uber)参投，投资者还 包括梅赛德斯-奔驰、日产和斯泰兰蒂斯集团Stellantis等主流车企。 ...

负责车辆安全监管与召回的美国国家公路交通安全管理局（NHTSA）表示， 搭载日产 1.5 升三缸 VC-Turbo 发动机的2024–2025 款奇骏 SUV，其电子节气门总成内的齿轮可能发生 断裂。 本次问题涉及的召回数量为318，781 辆。 解决方案为：经销商将为车主重新刷写车载软件，并检查、更换必要零件。 该监管机构同时表示，323，917 辆 2023–2025 款奇骏可能存在发动机故障问题，会导致行驶动力丧 失。 NHTSA 指出，轴承故障可能造成发动机缸体破损，导致高温机油泄漏，进而增加发动机起火风险。 美国国家公路交通安全管理局称：部分 2024–2025 款奇骏 SUV 的电子节气门总成齿轮可能发生断裂 日产 正在召回超 30 万辆奇骏 SUV，部分车型存在电子节气门齿轮故障及发动机故障风险，可能提高撞 车概率。 美国国家公路交通安全管理局称：部分 2024–2025 款奇骏 SUV 的电子节气门总成齿轮可能发生断裂 针对该问题，经销商将重新刷写发动机控制模块（ECM）软件、读取故障诊断码，并对车辆进行路 试。 责任编辑：郭明煜 日产 正在召回超 30 万辆奇骏 SUV，部分车型存在电子节气 ...

The National Highway Traffic Safety Administration said the gears in the electronic throttle body assembly may break in certain 2024-2025 Rogue SUVs. ...

Group 1 - Nissan is recalling approximately 642,698 Rogue vehicles in the U.S. due to issues that may lead to a loss of drive power [1][1][1] - The recall is part of two separate actions as reported by the U.S. National Highway Traffic Safety Administration [1][1][1] - This recall highlights ongoing safety concerns within the automotive industry, particularly regarding vehicle performance and reliability [1]

Core Viewpoint - Mexico is cautiously accepting the expansion of Chinese automotive companies, following a more welcoming stance from Canada, which presents a challenge for the U.S. as Chinese brands extend their reach into North America [1] Group 1: Market Dynamics - Mexico ranks as the 4th largest exporter and 7th largest producer of light vehicles globally, heavily reliant on the U.S. market, with projections indicating that 2.8 million out of 4 million vehicles produced in 2024 will be exported to the U.S. [3] - The Nissan-Mercedes-Benz plant in Aguascalientes, Mexico, is a target for acquisition by Chinese automotive firms, with the plant's production capacity historically underutilized at less than 60% [3] - The plant's closure is part of Nissan's broader strategic realignment, influenced by tariffs imposed by the U.S. on Mexican-made vehicles [3][4] Group 2: Impact of Tariffs - The imposition of a 25% tariff on Mexican-made vehicles by the Trump administration has significantly impacted Mexico's automotive industry, leading to a projected decline in exports to the U.S. by nearly 3% in 2025 [3][4] - If current tariffs persist, Mexico could see a more substantial drop in automotive exports by 2026, resulting in the loss of approximately 60,000 jobs in the automotive sector by 2025 [4] Group 3: Chinese Automotive Expansion - Chinese automotive brands are rapidly expanding globally, with projections indicating that by 2025, their total global sales will reach 30.42 million vehicles, surpassing Japan for the first time [5] - In Mexico, the market share of Chinese automotive brands is expected to rise from 0% in 2020 to nearly 10% by 2025, positioning Mexico as a strategic hub for Chinese companies targeting the North American market [5] Group 4: Geopolitical Considerations - Mexican officials are concerned that a successful acquisition by Chinese firms could provoke a strong reaction from the U.S., leading to private discussions about delaying such investments until trade negotiations with the U.S. are concluded [5][6] - Recent tariff adjustments by Mexico, aimed at balancing trade deficits, have strained economic relations with China, despite the intention to boost domestic production [6]

Core Viewpoint - Mexico is cautiously accepting the expansion of Chinese automotive companies in the country, following a more welcoming stance from Canada, which presents a challenge for the U.S. as Chinese automotive brands extend their industrial layout into neighboring territories [1]. Group 1: Chinese Automotive Companies' Expansion - Two major Chinese automotive companies have reached the final selection stage to bid for the Nissan-Mercedes-Benz factory in Mexico [3]. - A total of four Chinese automotive companies are involved in the bidding process, but they have not disclosed any information regarding the matter [4]. - The Nissan-Mercedes-Benz factory in Aguascalientes, Mexico, has a designed annual capacity of 230,000 vehicles but has never operated at full capacity, with a utilization rate below 60% [4]. Group 2: Impact of Tariffs on the Mexican Automotive Industry - Mexico is the world's fourth-largest exporter and seventh-largest producer of light vehicles, heavily reliant on the U.S. market, with 2.8 million out of 4 million vehicles produced in 2024 expected to be exported to the U.S. [4]. - The imposition of a 25% tariff on cars produced in Mexico by the Trump administration has led to a projected decline of nearly 3% in exports to the U.S. by 2025 [4]. - The chairman of the Mexican Automotive Industry Association (AMIA) warned that if current tariffs persist, exports to the U.S. could see a more significant drop by 2026, resulting in a loss of 60,000 jobs in the automotive sector by 2025 [5]. Group 3: Strategic Implications for Chinese Brands - The growth of the Chinese automotive industry has fueled ambitions for global market expansion, with projections indicating that by 2025, Chinese brands will sell 30.42 million vehicles globally, surpassing Japan for the first time [7]. - In Mexico, the market share of Chinese automotive brands is expected to rise from 0% in 2020 to approximately 10% by 2025 [7]. - Mexico serves as a strategic hub for Chinese companies to penetrate the North American market, with local investments creating much-needed jobs [7]. Group 4: Trade Relations and Tariff Adjustments - The Mexican government has raised tariffs on imports from countries without free trade agreements, including China, with rates reaching up to 35% [9]. - The core purpose of the recent tariff increases appears to be to appease the Trump administration, which has led to heightened tensions in Mexico-China trade relations [9]. - Recent direct talks between Chinese and Mexican officials indicate ongoing discussions about bilateral trade relations amidst the backdrop of Chinese automotive companies bidding for the factory [9].

Core Insights - The global automotive sales rankings for 2025 have been released, showing significant changes in positions among the top manufacturers, although no new entrants have appeared in the top 10 [1][2][3] Group 1: Toyota Motor Corporation - Toyota has retained its position as the global sales champion for the sixth consecutive year, achieving a 4.6% year-on-year growth in group sales [4] - In 2025, Toyota's global sales reached approximately 10.54 million vehicles, with North America contributing about 2.93 million vehicles (up 7.3% year-on-year) and China contributing around 1.78 million vehicles (up 0.2%) [6][7] - Despite challenges from U.S. tariffs and the rise of new energy vehicles in China, Toyota has shown resilience, although its electric vehicle sales remain low at only 1.9% of total sales [8][11] Group 2: Volkswagen Group - Volkswagen remains the second-largest automaker globally, with a slight decline of 0.5% in total sales to 8.98 million vehicles in 2025 [12][13] - The European market saw a 4.5% increase in sales, while the Chinese market experienced an 8% decline [13] - Volkswagen's electric vehicle sales grew significantly, with 983,100 units sold (up 32% year-on-year), increasing its share to 10.9% of total sales [15][16] Group 3: Hyundai Motor Group - Hyundai maintained its third position globally with a slight increase of 0.6% in sales, totaling 7.27 million vehicles [23] - The U.S. market is crucial for Hyundai, contributing 40% of its revenue, and the company plans to expand its production of hybrid models in the U.S. [27][29] - Hyundai aims for a sales target of 7.51 million vehicles in 2026, with more electric models planned [30] Group 4: Stellantis - Stellantis ranked fourth with stable sales of 5.42 million vehicles, but faced significant financial losses due to its electric vehicle transition [31][33] - The company is attempting to adjust its strategy, including partnerships with other manufacturers [35] Group 5: BYD - BYD's sales increased to 4.6 million vehicles in 2025, with overseas sales surpassing 1 million units (up 145% year-on-year) [37][38] - The company is seen as a strong contender in the global market, although it still has a long way to go to catch up with established giants like Toyota and Volkswagen [42][43] Group 6: General Motors - General Motors sold 4.51 million vehicles in 2025, with North America being its largest market, contributing 2.85 million vehicles [46][49] - The company is under pressure from its electric vehicle transition and reported significant financial losses [49][50] Group 7: Ford - Ford's sales reached 4.4 million vehicles, with strong performance in the U.S. market, where it sold over 2.2 million vehicles [51][54] - The company plans to launch multiple electric models to enhance its competitive edge [56] Group 8: Geely Holding Group - Geely moved up to the eighth position globally with a sales increase of 26% to over 4 million vehicles [58][60] - The group includes various brands and has a significant share of electric vehicle sales, indicating strong growth potential [66][67] Group 9: Honda - Honda's sales declined to 3.52 million vehicles, continuing a downward trend from the previous year [68][70] - The company faces challenges in the Chinese market, which has significantly impacted its overall performance [71][72] Group 10: Nissan - Nissan's sales fell to 3.1 million vehicles, with a notable decline in the Chinese market [73][75] - The company is focusing on the Americas for growth, as it navigates the challenges of the electric vehicle transition [75] Conclusion - The gap between the top four automakers and the rest is widening, indicating stronger competitive advantages for leading companies [76] - The automotive landscape is evolving, with potential shifts in rankings as newer players like BYD and Geely continue to grow [78][80]

今日摘要 春节前夕，习近平等党和国家领导人分别看望或委托有关方面负责同志看望老同志。 习近平主席春节前夕慰问部队引发全军官兵热烈反响。大家表示，要深刻领悟"两个确立"的决定性意 义，坚决做到"两个维护"，贯彻军委主席负责制，扎实做好各项工作，实现"十五五"良好开局，打好实 现建军一百年奋斗目标攻坚战。 李强同外国专家举行新春座谈会。丁薛祥出席。 各地举办丰富多彩的活动，热热闹闹迎新春。 2025年，各级纪检监察机关以强有力的监督护航乡村振兴。 今天全社会跨区域人员流动量预计超2.8亿人次。 全球多地举办精彩活动，共迎中国马年新春。 内容速览 中央领导同志看望老同志 春节前夕，中共中央总书记、国家主席、中央军委主席习近平等党和国家领导人分别看望或委托有关方 面负责同志看望老同志，向他们致以诚挚的节日问候，衷心祝愿他们新春愉快、健康长寿。 始终做党和人民完全可以信赖的英雄军队——习近平主席春节前夕慰问部队引发全军官兵热烈反响 春节临近年味浓 多彩活动迎佳节 春节临近，年味渐浓，各地举办丰富多彩的活动，喜迎佳节。 【新春走基层】回家的礼物 把一份爱带给亲人 马上就是春节了，各式各样用心准备的礼物跟大家一同踏上回家的 ...

Group 1 - Nissan's stock is currently not trading due to an excess of buy orders [1]

Group 1 - The overall performance of Japan's automotive industry has significantly weakened, with combined operating profit of seven major manufacturers declining by approximately 28% to 4.3 trillion yen (about 215 billion RMB) due to increased U.S. tariffs, electric vehicle investment impairments, and weakened global demand [1] - The U.S. tariffs alone have caused a negative impact of about 2.1 trillion yen (approximately 105 billion RMB), leading to a nearly 30% drop in operating profit [1] - Despite efforts by companies like Toyota to reduce costs, the burden of tariffs continues to exert heavy pressure on their performance [1] Group 2 - Nissan has projected a net loss of approximately 650 billion yen (about 32.5 billion RMB) for the fiscal year ending March 2026, marking its second consecutive year of losses [3] - For the period from April to December 2025, Nissan's sales are expected to be around 8.58 trillion yen (approximately 429 billion RMB) with a net loss of about 250 billion yen (around 12.5 billion RMB), alongside a global workforce reduction of about 20,000 employees and the closure of seven factories [3] Group 3 - Mazda reported an operating loss of approximately 231 billion yen (about 11.6 billion RMB), with tariff impacts accounting for about 119.2 billion yen (approximately 5.96 billion RMB) [5] - Honda's sales revenue for the period from April to December 2025 is projected to be 15.98 trillion yen (approximately 799 billion RMB), a year-on-year decline of 2%, with a net profit of 465.4 billion yen (about 23.3 billion RMB), down 42% [5] - Honda's four-wheeled vehicle business has reported an operating loss of 166.4 billion yen (approximately 8.3 billion RMB), marking its first loss in 14 years [5] Group 4 - Toyota has raised its full-year operating profit forecast to 4.9 trillion yen (approximately 245 billion RMB) while simultaneously lowering its annual sales target to 9.45 million vehicles [5][7] - The company has recently announced a change in its top management, promoting its CFO to CEO, emphasizing a business strategy focused on financial efficiency and capital returns [7] - The reliance on the U.S. market as a major profit source poses challenges for Japanese automakers, especially amid high interest rates, tariff fluctuations, and declining electric vehicle demand [7]