Group 1 - The merger discussions among major state-owned automotive groups in China, including FAW, Dongfeng, and Changan, have been ongoing for years, but recent developments suggest that the merger between Dongfeng and Changan may be postponed due to Changan's elevation to a central enterprise under the State-owned Assets Supervision and Administration Commission [1] - The article reflects on the historical context of mergers in the automotive industry, particularly the Daimler-Chrysler merger, and draws parallels to the current situation in China [2][4] - The challenges faced by Daimler in its attempts to create a global automotive empire through acquisitions, including the eventual divestment from Mitsubishi and Hyundai, serve as a cautionary tale for current mergers in the Chinese automotive sector [3][4] Group 2 - The Daimler-Chrysler merger in 1998, valued at $38.33 billion, was the largest merger in industrial history at the time, aiming to establish a global automotive empire [5] - Following the merger, Daimler acquired stakes in Mitsubishi and Hyundai, expanding its influence in Asia, but faced significant operational challenges due to cultural and management differences [5][37] - The article emphasizes the importance of understanding cultural integration and management challenges in mergers, as seen in the difficulties faced by Daimler post-merger, which ultimately led to strategic shifts and divestments [12][37] Group 3 - The narrative highlights the internal conflicts and management struggles within Daimler-Chrysler, particularly regarding leadership appointments and operational control, which were exacerbated by cultural differences [45][66] - The article discusses the strategic decisions made by Daimler, including the withdrawal from Mitsubishi and Hyundai, which were influenced by financial performance and internal disagreements [24][36] - The complexities of managing a merged entity, including the integration of different corporate cultures and the challenges of leadership dynamics, are underscored as critical factors for success in mergers [37][66]

撰 文 / 路 行 设 计 / 赵昊然 中国汽车市场正经历一场深刻的结构性调整。2024年，中国品牌乘用车销量1797万辆，在乘用车销 售总量中的占比攀升至65.2%，较上年同期提升9.2个百分点。这意味着曾经占据中国市场主导地位 的外资品牌份额被压缩至不足35%。 进入2025年，自主品牌的攻势仍在有效维持。根据乘联分会数据，今年4月自主品牌零售115万辆， 同比增长31%。当月自主品牌国内零售份额为65.5%，同比增长8个百分点。1-4月自主品牌零售市 场份额64%，较去年同期增长7.9个百分点，在新能源市场和出口市场获得明显增量。 一些外资品牌的市场空间被双重挤压，在传统燃油车领域受到自主品牌性价比优势的冲击，在新能 源领域又无力与自主品牌的先发优势抗衡。这其中，一些二线合资品牌陷入集体性衰退，陆续出 现"水土不服"的症状，销量与影响力远未达到其全球地位。 中国消费者独特的偏好、日新月异的技术需求、极其激烈的本土竞争格局，共同构筑了一道无形的 壁垒。而与此同时，这些品牌却在欧洲、北美、东南亚等地持续热销——这个世界，早已不能用同 一把钥匙启动所有引擎。 中国市场，边缘求生 起亚 定位模糊与电动化滞后 曾 ...