Core Message - The Ram brand is launching a new marketing campaign titled "Never Stop Being American," celebrating American culture and traditions, coinciding with the return of the HEMI V-8 engine and the brand's participation in NASCAR [2][8]. Marketing Campaign - The "Never Stop Being American" campaign features a 60-second advertisement narrated by UFC's Dana White, set to a custom version of "The Star-Spangled Banner" by Kenny Wayne Shepherd, and showcases various American symbols and activities [1][8]. - The campaign introduces a new tagline, "Nothing Stops Ram," and aims to resonate with American values and pride [2][8]. HEMI V-8 and NASCAR Return - The return of the HEMI V-8 engine and the Ram brand's involvement in NASCAR was officially announced by Tim Kuniskis, global CEO of the Ram brand, during a live event on June 8, 2025 [3][4]. - The "Ram-Demption" campaign was also launched, featuring a video with Kuniskis driving a NASCAR concept truck, highlighting the brand's commitment to its customers [5]. America250 Partnership - Ram has announced its exclusive truck brand partnership with America250, which is responsible for commemorating the 250th anniversary of the United States, including providing trucks for official events [6][9]. - The brand will also introduce a limited-edition A250 vehicle to celebrate this milestone [9]. Product Offerings - Ram is enhancing its product lineup for 2025, including improvements to the Light-Duty and Heavy Duty pickups, and introducing new off-road performance trucks like the Ram 1500 RHO [11][16]. - The company is focusing on its commercial offerings, launching the new 2025 Chassis Cab line and improving support for B2B customers [12][13].

Core Viewpoint - Stellantis Chairman John Elkann calls for collaboration among major European car manufacturers to establish new regulations aimed at reducing the manufacturing costs of small cars [1][3]. Group 1: Regulatory Environment - Elkann emphasizes the need for the EU and major automotive countries like Germany, France, Italy, and Spain to recognize how to utilize intelligent new regulations [3]. - He points out that Europe is facing over 120 new regulations by 2030, which are increasing the weight and cost of vehicles, making small cars unprofitable [5]. - The current regulatory framework is seen as overly burdensome, particularly for small and affordable vehicles, which are crucial for the European automotive industry [9]. Group 2: Market Opportunities - Elkann suggests that Europe can learn from Japan's K-Car model, which has maintained a significant market share due to its lightweight and affordable nature [5]. - Stellantis is already producing electric microcars in Europe, such as the Citroën Ami and Fiat Topolino, indicating a potential market for affordable electric vehicles [7]. - The call for regulatory changes comes at a time when European car manufacturers are seeking to compete with Chinese automakers, particularly in the electric vehicle segment [9]. Group 3: Industry Perspectives - Renault CEO Luca de Meo aligns with Elkann's views, stating that European regulations have negatively impacted the profitability of the small car market, with sales declining by 40% over the past 20 years [9]. - De Meo advocates for differentiated regulations for small cars, arguing that the current rules favor larger and more expensive models, hindering the production of small cars under acceptable profit conditions [9]. - A French research group supports the idea that allowing manufacturers to sell affordable and sustainable electric vehicles in Europe could enhance competitiveness against Chinese manufacturers [9].

Market Capitalization Changes - Tesla's market capitalization reached $105.14 billion, with an increase of $1 billion from the previous day, and its stock price is $326.43 [3] - Toyota's market capitalization is $238.97 billion, showing a decrease of $34.67 million, with a stock price of $182.61 [3] - Xiaomi Auto's market capitalization is $177.55 billion, increasing by $10.24 million, with a stock price of $6.88 [3] - BYD's market capitalization is $154.61 billion, decreasing by $26.58 million, with a stock price of $49.52 [3] - Ferrari's market capitalization is $85.96 billion, decreasing by $7.11 million, with a stock price of $482.39 [3] Other Notable Companies - General Motors has a market capitalization of $47.95 billion, increasing by $9.03 million, with a stock price of $49.87 [4] - Ford's market capitalization is $42.39 billion, increasing by $2.4 million, with a stock price of $10.66 [4] - Hyundai's market capitalization is $35.90 billion, increasing by $4.57 million, with a stock price of $22 [4] - Kia's market capitalization is $28.44 billion, increasing by $4.34 million, with a stock price of $71.84 [4] - Nissan's market capitalization is $8.74 billion, decreasing by $0.97 million, with a stock price of $2.50 [5]

Group 1 - Toyota leads the automotive market with a value of 2414.31 billion, showing an increase of 17.02% [2] - BYD follows with a value of 1549.88 billion, reflecting a growth of 23.66% [2] - Ferrari has a market value of 866.76 billion, up by 12.98% [2] Group 2 - General Motors is valued at 470.43 billion, with a growth of 9.63% [3] - Ford has a market value of 414 billion, increasing by 10.14% [3] - Honda's value stands at 405.07 billion, with a slight increase of 1.09% [3] Group 3 - Changan Automobile is valued at 155.79 billion, with a minor increase of 0.36% [4] - Nissan has a market value of 87.12 billion, showing an increase of 2.27% [4] - NIO's value is at 79.91 billion, reflecting a growth of 4.4% [4]

| | 163.96 | +4.56 | 14.4 | | --- | --- | --- | --- | | 长安汽车 | 156.2 | + -2.06 | 1.79 | | 雷诺 | 143.49 | + +1.49 | 49.5 | | 斯巴鲁 | 128.26 | 1 +0.6 | 17.55 | | JAC 江淮汽车 | 119.26 | 1 +2.1 | 5.46 | | 和泰汽车 | 110.77 | + +1.3 | 19.88 | | 广汽集团 | 108.02 | + -0.71 | 1.06 | | ISUZU 五十铃 | 89.69 | + +1.33 | 12.6 | | NISSAN 日产 | 85.29 | -0.07 | 2.44 | | VinFast Auto | 83.5 | +3.51 | 3.57 | | ID | Leapmotor C 81.74 | ↑ +0.07 | | | ● 尉米汽车 | 78.86 | + -0.66 | 3.6 | | FC) 福特奥托生 | 78.24 | + -0.35 | 2.23 | | 1 - 1 - 路西德汽车 | 68. ...

Core Viewpoint - The Chinese automotive market is undergoing a significant structural adjustment, with domestic brands increasing their market share at the expense of foreign brands, which now hold less than 35% of the market [4]. Group 1: Domestic Brand Growth - In 2024, domestic passenger car sales are projected to reach 17.97 million units, accounting for 65.2% of total passenger car sales, an increase of 9.2 percentage points year-on-year [4]. - In April 2025, domestic brands achieved retail sales of 1.15 million units, a year-on-year increase of 31%, with a market share of 65.5%, up 8 percentage points [4]. - From January to April 2025, domestic brands held a retail market share of 64%, an increase of 7.9 percentage points compared to the previous year, particularly gaining in the new energy and export markets [4]. Group 2: Challenges Faced by Foreign Brands - Kia is struggling in the Chinese market due to a lack of clarity in positioning and slow progress in electrification, with only 21.5% of global sales being electric models in 2024 [6]. - Skoda's sales in China fell by 23.1% year-on-year to 17,500 units in 2024, as it is squeezed by both the Volkswagen brand's price cuts and the competitive offerings from domestic brands [9][10]. - Jeep's focus on SUVs has led to a disconnect with Chinese consumer preferences, resulting in a decline in brand presence and market share [11]. Group 3: Global Performance of Foreign Brands - Despite challenges in China, Kia remains strong in its home market and is expanding in North America and Europe, achieving over 3 million global sales in 2024 [20]. - Skoda's global sales reached 926,600 units in 2024, with strong performance in Europe, particularly in Germany, the Czech Republic, and the UK [21]. - Jeep's brand recognition and performance in North America remain robust, with 90% of its global sales coming from this market, totaling 587,800 units in 2024 [23]. Group 4: Lessons Learned - The struggles of foreign brands in China highlight the importance of understanding local consumer preferences and adapting product strategies accordingly [28]. - Successful global strategies require a deep understanding of localization, which encompasses product definition, technology routes, brand communication, and supply chain management [29]. - Brands must recognize their positioning and strengths, focusing on markets that align with their core competencies rather than pursuing broad-scale expansion [29].

Core Viewpoint - Stellantis Group has appointed Antonio Filosa as the new CEO, effective June 23, 2025, following the resignation of former CEO Carlos Tavares. Filosa faces the challenge of reversing declining sales and profits, particularly in the North American market [2][4][11]. Group 1: Leadership Transition - Antonio Filosa has been with Stellantis for over 25 years, having held various leadership roles in North and South America, including COO of the Americas and CEO of the Jeep brand [3][4]. - The board of Stellantis unanimously approved Filosa's appointment, and a special shareholders' meeting will be held to elect him to the board [2][4]. Group 2: Current Performance Challenges - Stellantis reported a 12% decline in global sales in 2024, totaling 5.42 million vehicles, and a 70% drop in net profit to €5.5 billion [4][6]. - In Q1 2024, net revenue fell by 14% to €35.8 billion, with new vehicle shipments down 9% to 1.217 million units, attributed to production declines in North America and a drop in light commercial vehicle sales in Europe [4][6]. Group 3: North American Market Focus - The North American market, which has historically been Stellantis' largest profit source, saw a 20% drop in Q1 2024 sales to 325,000 vehicles and a 25% decline in net revenue to €14.4 billion [5][6]. - Filosa's immediate priority is to revitalize the North American market, which has been negatively impacted by an aging vehicle lineup and previous management's focus on cost-cutting [6][7]. Group 4: Strategic Initiatives - Filosa has begun to rebuild relationships with dealers and unions, which were strained under the previous CEO, and has initiated inventory reduction efforts, achieving an 18% decrease in total inventory by the end of 2024 [8][9]. - The company is also facing new challenges from tariffs imposed by the U.S. government, which could result in a projected loss of $7.1 billion in revenue [9][10]. Group 5: Electrification and Market Competition - Stellantis is lagging behind competitors in electric vehicle sales, necessitating significant investments in carbon credits to meet EU emissions targets [10][11]. - The company has announced plans to establish a large lithium iron phosphate battery factory in Spain in collaboration with CATL to support its electrification strategy [10][11]. Group 6: Future Outlook - Filosa's leadership marks a critical phase for Stellantis as it seeks to navigate performance declines and competitive pressures while transitioning from a traditional automaker to a technology-driven mobility company [11][12].

Core Viewpoint - Stellantis has appointed Antonio Filosa as the new CEO amid significant operational challenges, including a sharp decline in revenue and profit, particularly in the North American market [3][6][7]. Financial Performance - Stellantis reported a net revenue of €156.9 billion for 2024, a 17% decrease from €189.5 billion in 2023 [8]. - The net profit plummeted by 70% to €5.52 billion, down from €18.63 billion the previous year [8]. - Diluted earnings per share fell by 69% to €1.84, compared to €5.94 in 2023 [8]. - Cash flow from operating activities decreased by 82% to €4.01 billion, down from €22.49 billion [8]. - Adjusted operating profit dropped by 64% to €8.65 billion, with an adjusted operating margin of 5.5%, down 730 basis points from 12.8% [8]. Market Challenges - North American sales fell by 36%, exacerbated by new tariff policies under the current administration [7][9]. - The first quarter of 2024 saw a 20% year-over-year decline in sales, despite a temporary rebound in March [7]. - In Europe, sales decreased by 5%, with market share dropping to 16.4% [9]. - Stellantis has faced increased competition from other brands, particularly in the electric vehicle sector, where it has struggled to maintain a presence in China [11][12]. Leadership and Strategy - Antonio Filosa, previously an executive at FCA, is seen as a stabilizing figure who may adopt a more moderate approach compared to his predecessor [13][15]. - Filosa's appointment was unanimously approved by the board, indicating confidence in his ability to navigate the company through its current difficulties [15]. - His management style emphasizes cost control and market expansion, as evidenced by the successful entry of the Jeep brand into the Brazilian market [15][17]. Compensation and Expectations - Filosa's salary is set at $10.2 million, significantly lower than his predecessor's $23.9 million, reflecting the company's current financial struggles [19][21]. - His compensation package includes $9 million in stock incentives, linking his earnings to the company's stock performance [21]. - The expectation is that Filosa will need to address the challenges of electric vehicle transition, financial recovery, and competitive positioning to secure a more favorable compensation in the future [21].

金十图示：2025年06月09日（周一）全球汽车制造商市值变化 | | | 市值(亿美元) 较昨日变化(亿美元) | 股价(美元) | | --- | --- | --- | --- | | 特斯拉 | 9506.34 | + +336.53 | 295.14 | | (4) 丰田汽车 | 2412.87 | 1 +9.61 | 185.14 | | והו 小米汽车 | 1772.51 | + -19.9 | 6.84 | | 比亚迪 | 1500.16 | + -37.2 | 48.89 | | P 法拉利 | 860.03 | ↑ +4.02 | 482.61 | | 梅赛德斯奔驰 | 564.76 | + -2.33 | 58.65 | | 宝马汽车 | 542.21 | + -2.12 | 87.58 | | 入） 大众汽车 | 529.97 | + -9.28 | 104.67 | | --- | --- | --- | --- | | MS 玛鲁蒂铃木 | 456.9 | 1 +12.36 2 | 145.32 | | 通用汽车 gm | 456.39 | + +3.58 | 47.47 | | ...

Core Insights - Ram is returning to NASCAR after a 13-year hiatus, joining the CRAFTSMAN Truck Series in 2026, which is part of a broader strategy involving 25 product announcements over 18 months [2][8][10] - The unveiling of the new Ram 1500 concept race truck at Michigan International Speedway marks a significant milestone for the brand, showcasing its commitment to high-performance vehicles [2][5][8] - The return to NASCAR is expected to enhance brand engagement, as over 40% of NASCAR fans are truck owners, aligning with Ram's identity of high performance and durability [4][5] Product and Marketing Strategy - The Ram 1500 concept race truck features an aerodynamic design and is inspired by the Ram Truck Sport lineup, emphasizing performance with a race engine capable of revving over 9,000 rpm [5][6] - The "Ram-Demption" marketing campaign highlights the brand's return to NASCAR and includes various video formats to engage audiences across multiple platforms [7][9] - The return to NASCAR coincides with the reintroduction of the 5.7-liter HEMI V-8 engine in the 2026 Ram 1500, further solidifying Ram's performance credentials [9][10] Historical Context - Ram previously exited NASCAR's CRAFTSMAN Truck Series in 2012 after a 17-year run, focusing on launching the new 2013 Ram 1500 [10] - The brand has a rich history of performance trucks, including models like the Power Wagon and SRT10 Viper Truck, which have contributed to its identity in the market [10][11] Competitive Positioning - Ram is enhancing its market competitiveness by offering a diverse range of sport and off-road trucks, aiming to meet the growing demand in the pickup segment [13][15] - The brand's strategy includes improvements in commercial offerings and a focus on B2B expertise, which are critical for growth in the commercial vehicle segment [14][15]