Group 1: Ferrari and Exor's Strategic Moves - The luxury automotive sector is shifting towards electrification, with Ferrari's first fully-electric model, the Elettrica, expected to be presented in 2026 [2][3] - Exor and the Ferrari family have extended their shareholders' agreement, indicating a long-term commitment to Ferrari's future [2][9] - Ferrari aims for 20% of its model line-up to be fully-electric by 2030, a revision from its previous target of 40% [3] Group 2: Exor's Broader Business Context - Exor's CEO John Elkann emphasized that cars, particularly Ferrari and Stellantis, remain the company's "first love" and significant contributors to Exor's gross asset value last year [3] - Piero Ferrari, son of founder Enzo, retains over 10% ownership, while Exor N.V. controls more than 21% of Ferrari [3] Group 3: Venezuela's Political Landscape - The U.S. is increasing political and military pressure on Venezuelan President Nicolás Maduro, including military buildups and discussions of potential military actions [4][9] - The Venezuelan opposition, led by figures like María Corina Machado and Edmundo González, is actively working towards a democratic transition [6][9] - International scrutiny remains on Venezuela, with ongoing efforts to monitor upcoming elections and support the opposition's platform [7][9]

Group 1 - Tesla's CEO Elon Musk has missed the end of 2025 deadline to remove safety monitors from Model Y robotaxis in Austin, Texas, yet Tesla shares have shown an upward trend ahead of the fourth-quarter vehicle deliveries and energy storage deployment numbers [4] - The stock market is experiencing a late Santa Claus rally as indicated by rising Dow Jones futures, suggesting positive market sentiment as 2026 trading begins [5] - The year 2026 is being positioned as a "defining year" for Tesla, heavily reliant on the success of self-driving robotaxis and achieving true autonomy [7] Group 2 - There is a growing concern regarding six AI-related S&P 500 stocks that are accumulating significant debt, which could pose a threat to their stability [6] - The interest in quantum computing stocks has surged in 2025, raising questions about the sustainability of this trend [6]

Core Insights - Tesla's global vehicle deliveries in 2025 are projected to be 1.636 million, a year-on-year decline of approximately 8.6%, marking the first time that BYD has surpassed Tesla in annual sales of electric vehicles [1] - Tesla produced 1.655 million electric vehicles in 2025, with deliveries of 1.636 million, both lower than the 1.773 million and 1.789 million in 2024 [1] - The U.S. government’s cancellation of tax incentives for electric vehicle purchases in September 2025 has directly impacted Tesla's sales [1] - In Q4 2025, Tesla produced about 434,000 vehicles and delivered approximately 418,000, down from 459,000 and 496,000 in the same quarter of 2024, representing a year-on-year decline of about 16% in deliveries [1] - BYD announced that its global electric vehicle sales reached 2.26 million in 2025, a year-on-year increase of 28%, with growing sales from markets outside of China, including Asia, Europe, and Latin America [1] - Tesla remains the largest electric vehicle manufacturer in the U.S., holding about half of the U.S. electric vehicle market share, but its declining sales indicate a slowdown in the overall U.S. electric vehicle market [1] - In November 2025, overall electric vehicle sales across all brands in the U.S. plummeted by over 40% [1] - Industry analysts expect that U.S. electric vehicle sales will continue to remain sluggish in 2026 [2]

Geopolitical Developments - President Trump announced a "large scale strike" in Venezuela, resulting in the capture of President Nicolás Maduro and his wife, Cilia Flores, with the U.S. planning to "run" Venezuela [2] - The geopolitical landscape remains volatile, with significant implications for market dynamics and investor sentiment [11] Market Reactions - The DJIA rose by 319.10 points (+0.66%) to close at 48,382.39, breaking a four-day losing streak, while the S&P 500 gained 12.97 points (+0.19%) to reach 6,858.47 [3] - The NASDAQ Composite dipped slightly by 6.36 points (-0.03%) to 23,235.63, reflecting mixed reactions among tech stocks [4] Sector Performance - Industrial companies like Caterpillar (CAT) and Boeing (BA) saw gains of +4.5% and +4.9% respectively, likely due to expectations of increased demand for machinery and aircraft in Venezuela [4] - In contrast, tech stocks faced challenges, with Tesla (TSLA) declining by 2.6% and Microsoft (MSFT) down approximately 0.9% [4] Oil Market Dynamics - Venezuela holds the world's largest proven oil reserves at 300 billion barrels, but initial predictions of a price spike in Brent crude were not realized, with prices easing instead [5] - Brent crude futures settled down 0.16% at $60.75 per barrel, while U.S. West Texas Intermediate crude was at $57.32 per barrel, influenced by global oversupply concerns [5] - Contradictory reports indicated Brent crude spiked 8% to $95 per barrel due to supply disruption fears, benefiting U.S. shale producers [6] Tariff Implications - The Supreme Court is expected to rule on the legality of Trump's tariffs, with a 75-77% probability that they will be struck down or limited, potentially costing the U.S. Treasury over $100 billion in refunds [8] - Tariffs increased from 2.5% to 15% in 2025, projected to add $1,400 per U.S. household in 2026, although some stocks like RH and Wayfair benefited from delayed tariff increases [9] Federal Reserve Transition - The impending transition of the Federal Reserve Chair, with Jerome Powell's term ending in May 2026, introduces potential policy changes and market volatility [10] - Analysts predict two rate cuts in 2026, with a 92% probability that a new chair will be announced before February 1st, likely favoring lower rates [10]

Key TakeawaysVenezuelan President Nicolás Maduro and his wife have been captured by the U.S. in a stunning operation, facing immediate prosecution on narco-terrorism and drug trafficking charges.The dramatic capture has triggered a power vacuum in Venezuela, with opposition leader María Corina Machado calling for Edmundo González to take power, while Maduro's top lieutenants have defied the Trump administration.U.S. military operations related to the Venezuelan situation are significantly disrupting travel ...

Core Insights - Tesla's global sales in 2025 are projected to be 1.636 million units, representing a year-on-year decline of 8.6% [2][5] - Tesla's production for 2025 is estimated at 1.654 million units, down approximately 6.7% compared to the previous year [2][5] - BYD has surpassed Tesla with a sales figure of 2.25 million units in 2025, becoming the top seller of pure electric vehicles [3][5] - Hongqi's new energy vehicle sales are expected to reach 149,229 units in 2025, marking a year-on-year growth of 29.8% [4][5] - The cancellation of the $7,500 tax credit for electric vehicle purchases in the U.S. in September has negatively impacted Tesla's fourth-quarter deliveries, which fell by 16% to approximately 418,000 units [3][5] - Hongqi's electrification strategy is showing initial success, with new product lines and a focus on electric and hybrid vehicles [7]

雷军新年第一场直播 "希望大家能说一些公道话" 红星资本局1月3日消息 今天晚上7点，小米创办人、董事长兼CEO雷军正式开启新年第一场直播。这次直播有点不一样，现场拆了一台小米YU7。 雷军此前表示，前几天在网上看到了拆解小米SU7的视频，不少人建议拆拆YU7，因此这次直播会邀请工程师现场拆车，一边拆解，一边交流分享。 直播截图 雷军表示，"估计今天这个拆车直播之后会有更多的博主来拆我们的车，我都欢迎，我特别希望大家能说一些公道话，不要为了流量去故意夸大，故意找 茬。当然如果你觉得我们设计的不好或者用料不好，欢迎大家随时指出。" 雷军还在直播中透露，小米汽车去年交付了41万辆车，提出2026年交付目标55万辆。 提及"绿化带战神""丢轮保车"等热门话题 背后黑水军操纵几千个账号 红星资本局注意到，在拆车直播中，还特别提到了人们关注的门把手安全话题。现场专业人士表示，小米内外均支持机械拉线。在碰撞后，门锁会自动切 换到机械解锁模式。 对于"丢轮保车"话题，雷军说，"因为这个丢轮保车，很多消费者不了解，老说我们的车轮子撞掉了，其实这是一个很重要的安全策略。"雷军表示，"如 果网上还有人拿这点黑我们的话请帮我们解释 ...

Core Viewpoint - Xiaomi aims to deliver 550,000 vehicles in 2026, representing a 36% increase from the previous year's actual delivery of over 410,000 vehicles [5]. Group 1: Strategic Focus - The company will focus on three main areas: 1. Commitment to technology-driven development with an investment of 200 billion yuan in R&D over the next five years [4]. 2. Increased investment in generative AI models to enhance all existing operations through AI [4]. 3. Creating a comprehensive user experience that integrates vehicles and the entire ecosystem [4]. Group 2: Delivery Goals - The initial delivery target for 2025 was set at 300,000 vehicles, which was later raised to 350,000 due to positive progress, ultimately exceeding 410,000 vehicles delivered [4]. - The 2026 target of 550,000 vehicles aims to surpass the previous year's performance [5].

瑞财经 赵盼盼 1月3日晚间，小米创办人、董事长兼CEO雷军启动2026年第一场直播，现场直播拆一台 新的小米YU7，直播持续大约四五个小时。瑞财经全程直击。专题》》 雷军强调，在过去两年时间里，小米在三电技术上的进步非常快，在综合续航和综合电耗上都不亚于特 斯拉，这一点也想请小米车主们能够更深刻了解这一点，小米愿意向全世界最先进的公司学习，并且不 断地追赶。 a e २८ 雷军 多 | 关注 19 124.8万人看过 G C (2) 13 6 雷军表示，这段时间各媒体在举办一年一度的冬季测试，今年小米YU7的冬季表现非常出色。比如，汽 车之家的测试环境温度是零下25度到零下10度，YU7所在的组是"进阶家用五座纯电SUV组"，跟特斯拉 Model Y在一个组。 在这个组里，小米YU7获得了五项第一：续航里程第一、综合电耗第一、充电效率第一、零百加速第 一，雪地从100公里刹到0的制动距离也是第一。"所以我可以很自豪地说，我们的YU7和Model Y相比， 在这种工况情况下，我们的续航更牛，尤其是我们的综合电耗低于特斯拉。" ...

Core Insights - Hyundai Motor America achieved its fifth consecutive year of record annual retail sales and third straight year of record total sales in 2025, with December sales reaching 78,930 units, a 1% increase from December 2024, marking the best-ever December results [1][8]. Sales Performance - In December 2025, hybrid total sales surged by 71%, setting a new all-time monthly record, with models like Elantra, Santa Fe, Sonata, Tucson, and Palisade HEVs leading the sales [3]. - Despite a slight 1% dip in Q4 sales, Hyundai demonstrated strong momentum, with record Q4 total sales for Santa Fe, Tucson, and Palisade, and HEV category sales up 52% on the quarter [4]. - For the year 2025, Hyundai sold 772,712 vehicles, achieving its best-ever annual retail sales for the fifth consecutive year, while total sales reached 901,686 vehicles, establishing a record for the third straight year [5]. Model Performance - The core SUV lineup, including Tucson, Santa Fe, and Palisade, continued to drive double-digit growth, with retail sales up 8% and total sales up 10% combined [3]. - Specific model performances included: - Elantra: 11,375 units sold in December 2025, a 2% decrease from December 2024 [11]. - Ioniq 5: 2,279 units sold in December 2025, a 50% decrease from December 2024 [11]. - Palisade: 11,692 units sold in December 2025, a 14% increase from December 2024 [11]. - Santa Fe: 14,440 units sold in December 2025, an 8% increase from December 2024 [11]. - Tucson: 22,193 units sold in December 2025, a 10% increase from December 2024 [11]. Industry Recognition - Hyundai Motor Company was named one of the 'World's Best Companies 2025', ranking 33rd out of 1,000 organizations in TIME and Statista's list [9]. - The company received 21 IIHS Top Safety Awards, including 10 for Hyundai models, reaffirming its leadership in automotive safety [9]. - The all-new Palisade Hybrid was recognized in Car and Driver's 10Best Trucks and SUVs list for 2026, and it was named Best Midsize Three-Row SUV by Car Confections [9][10].