Recall Summary - Ford Motor (China) Co., Ltd. has filed a recall plan with the State Administration for Market Regulation, following the requirements of the "Regulations on the Recall of Defective Automobile Products" [1] - The recalls involve multiple models, including the 2020 Lincoln Aviator and the 2017-2018 Ford F-150, totaling over 5,000 vehicles [1][2][3] Group 1: Lincoln Aviator Recalls - Recall S2025M0143V involves 2,286 units of the 2020 Lincoln Aviator, produced between June 27, 2019, and December 9, 2019, due to improperly tightened seat restraint system bolts, increasing the risk of injury during a collision [1] - Recall S2025M0144V also involves 2,286 units of the 2020 Lincoln Aviator for issues with the second-row outer seat folding button panel, which may not be properly installed, leading to unexpected seat folding and increased injury risk [2] Group 2: Ford F-150 and Lincoln Navigator Recalls - Recall S2025M0145V includes 1,151 units of the 2017-2018 Ford F-150 and 1,193 units of the 2017 Lincoln Navigator, produced between April 3, 2017, and June 25, 2017, due to contamination in the brake master cylinder affecting braking performance and increasing collision risk [2] - This recall is an expansion of a previous recall announced on November 9, 2022, for similar issues [2] Group 3: New Lincoln Navigator Recall - Recall S2025M0146V involves 44 units of the new generation Lincoln Navigator, produced between November 8, 2024, and March 21, 2025, due to a software issue in the electronic brake booster that may delay response to voltage disturbances, potentially disabling brake assist and increasing collision risk [3] - The company will provide free software upgrades to address this safety concern [3]

Group 1 - The State Administration for Market Regulation announced a recall plan involving 8 automotive manufacturers, totaling 7,300 vehicles to be recalled by July 2025 [1] - Porsche (China) is recalling 1,248 vehicles from the Panamera and Taycan series due to a manufacturing issue where the front shock absorber strut clamp may not be fully engaged, potentially leading to air leakage in the air suspension, affecting vehicle handling and increasing collision risk [1] - Ford Motor (China) is recalling 2,264 Lincoln Navigator vehicles because the right front brake line may interfere with the air filter outlet pipe, causing brake fluid leakage, which could reduce braking efficiency and increase collision risk [1]

Recall Summary - Ford Motor (China) Co., Ltd. has filed a recall plan with the State Administration for Market Regulation, involving several models including Lincoln Navigator, Ford F-150, and Mustang [1][2] - The recall is divided into three batches, addressing various safety issues related to brake fluid leakage, steering control software, and potential fire risks due to manufacturing defects [2][3] Batch 1 - Recall number S2025M0113V: Starting immediately, 2,264 units of the 2022-2024 Lincoln Navigator produced from December 7, 2021, to August 16, 2024, are recalled due to a potential interference between the right front brake pipe and the air filter outlet pipe, which may lead to brake fluid leakage and increased collision risk [2][3] Batch 2 - Recall number S2025M0114V: Starting immediately, 43 units of the 2018-2022 Lincoln Navigator, 35 units of the 2018-2020 Ford F-150, and 5 units of the 2018-2022 Mustang produced between November 3, 2017, and September 2, 2022, are recalled due to software deviations in the electric power steering assembly, which may cause unexpected rapid steering wheel movements [2][3] Batch 3 - Recall number S2025M0115V: Starting immediately, 2,556 units of the 2015-2017 Lincoln Navigator produced from December 4, 2014, to June 25, 2017, are recalled due to poor sealing of the welcome light in the exterior rearview mirror, which may lead to internal short circuits and fire risks [2][3] Market Performance - Ford's sales performance in the Chinese market has been declining, with Changan Ford's total sales in 2024 reaching 247,000 units, a significant drop from the peak of 944,000 units in 2016 [4] - In the first five months of this year, Changan Ford's cumulative sales were 76,983 units, down 16.43% year-on-year [4] - Jiangling Ford's passenger vehicle sales from 2022 to 2024 were 48,000, 39,000, and 35,000 units respectively, indicating poor sales performance [4] - Ford's electric vehicle offerings in China are limited, with only one model currently available, and the company faces challenges in local innovation and competitiveness in smart technology [4]

Recall Overview - Ford Motor (China) Co., Ltd. has initiated a recall of certain imported vehicles in compliance with the "Defective Automobile Products Recall Management Regulations" [1] - The recall plan has been filed with the State Administration for Market Regulation [1] Recall Details - Recall Number S2025M0113V: A total of 2,264 units of the 2022-2024 Lincoln Navigator, produced between December 7, 2021, and August 16, 2024, are being recalled [1] - Recall Number S2025M0114V: This includes 43 units of the 2018-2022 Lincoln Navigator, produced from November 3, 2017, to September 2, 2022; 35 units of the 2018-2020 Ford F-150, produced from October 10, 2017, to July 24, 2020; and 5 units of the 2018-2022 Ford Mustang, produced from February 15, 2018, to April 25, 2022 [1] - Recall Number S2025M0115V: A total of 2,556 units of the 2015-2017 Lincoln Navigator, produced from December 4, 2014, to June 25, 2017, are included in this recall [1]

Group 1 - The recent high-level economic and trade talks between China and the US in Geneva resulted in significant progress, with both sides expressing a constructive atmosphere and reaching important consensus [1][2] - A joint statement was released, indicating the cancellation of tariffs imposed after April 2, with a 90-day pause on 24% tariffs to allow for further negotiations [2][12] - The automotive industry is particularly affected by these developments, as high tariffs had previously led to a significant decline in sales for imported vehicles, such as Lincoln and BMW models, which saw prices soar due to tariffs [5][7] Group 2 - The pause in tariffs is expected to benefit automotive importers, allowing them to resume business operations that had been stalled due to high tariffs [5][11] - Some automotive parts suppliers, previously forced to relocate to Southeast Asia due to tariffs, are now reassessing their global strategies and receiving new orders from North America [7][9] - The collaboration between Ford and CATL for battery technology is set to be revitalized, with plans for a $3.5 billion battery factory in Michigan, which will create 1,700 jobs and support Ford's supply chain in the US [11][12] Group 3 - The current agreement is only a temporary pause, with ongoing negotiations required to ensure a lasting resolution, highlighting the unpredictable nature of US decision-making [12][14] - The complexity of the automotive industry means that both Chinese and American companies are deeply intertwined in the global supply chain, making them vulnerable to trade tensions [14][16]

Core Viewpoint - The 2025 Shanghai International Auto Show highlights the global appeal and strength of the Chinese automotive industry, showcasing nearly a thousand manufacturers and supply chain companies from 26 countries amidst escalating tariff wars [1][4]. Group 1: Industry Dynamics - The auto show is expected to attract nearly 10,000 overseas dealers, indicating strong international interest in the Chinese automotive market [1]. - In 2024, China maintained its position as the world's largest automotive market for the 16th consecutive year, with vehicle production and sales leading globally [1]. - China's automotive exports exceeded 6.4 million units in 2024, marking a second consecutive year of leading global exports [1][4]. Group 2: Impact of Tariff Wars - The tariff wars have not deterred Chinese automotive companies from expanding internationally, with a focus on markets like Europe, while exports to the U.S. remain minimal at 11,600 units, accounting for only 1.81% of total exports [4]. - Executives from major companies, such as SAIC-GM, express confidence in their high localization rates, with over 95% of parts sourced domestically, mitigating the impact of tariffs [7]. - The ongoing tariff disputes have prompted some U.S. automakers to pause exports to China, while others are adapting their strategies to maintain market presence [7][8]. Group 3: Future Opportunities - Executives believe that crises can present new opportunities, with a focus on enhancing local operations and global collaboration [9]. - Companies like Nissan are committed to exporting models developed in China, aligning with their strategy of "in China, for China, and to the world" [9]. - The Chinese automotive industry is positioned as a leader in electrification and smart technology, attracting increased foreign investment [8][9]. Group 4: Challenges for Component Suppliers - China's exports of automotive components to the U.S. reached $17.15 billion in 2024, representing 15.6% of total component exports, indicating potential vulnerabilities due to tariff impacts [10]. - The lithium-ion battery exports also saw significant growth, with a total of $15.32 billion, highlighting the importance of this sector [10]. - Experts warn of a potential sharp decline in exports of components to the U.S. due to tariff measures, urging local suppliers to diversify their markets and enhance risk management [10].

Group 1 - NIO has established a new sales service company, further expanding its presence in the electric vehicle and related infrastructure sectors, indicating its market foresight and investment commitment [1] - The new company will enhance NIO's sales channels and service network, improving user experience and brand influence, which is expected to drive the maturity of the electric vehicle market and strengthen industry competitiveness [1] Group 2 - Hesai Technology has formed strategic partnerships with three companies, marking its continued expansion in the lidar and autonomous driving technology sectors, particularly in 3D modeling and intelligent perception systems [2] - The collaboration will enhance Hesai's product competitiveness in the smart transportation and automation industries, facilitating technology implementation and commercialization [2] Group 3 - Ford has suspended the export of several vehicle models to China due to high tariffs, which may impact its market share in China and reflects the significant challenges faced by global automakers amid changing trade policies [3] - This decision highlights the competitive landscape's potential shifts within the automotive sector due to tariff pressures [3] Group 4 - SAIC Group's investment in NuoShi Robotics signifies a deeper commitment to the smart manufacturing and robotics sector, leveraging NuoShi's technological innovations to enhance competitiveness in automation and intelligent products [4] - This move is likely to attract market attention towards the smart robotics and related industries [4] Group 5 - CATL has launched several new battery technologies, including the second-generation supercharging battery and sodium-ion battery brand, indicating ongoing innovation in the renewable energy sector [5][6] - The breakthroughs in sodium battery technology are expected to accelerate the industrialization of new energy applications and enhance investor confidence in the battery industry [6]