奔驰因高压起动发电机控制模块软件偏差，召回部分AMG S级和AMG GT插电式混动汽车；捷豹路虎则因局部反光标识间距不规范和座椅安全带问题，召 回部分进口路虎揽胜和揽胜运动版汽车；哈雷戴维森因电压调节器线束问题，召回部分CVO旅行摩托车；山东锣响汽车因顶棚杆焊接问题，召回部分仓栅 式运输半挂车；金龙客车则因手刹提醒功能缺失，召回部分纯电动客车。 宝马韩国公司则因48V启动发电机组件安装不当，可能导致充电故障，决定召回520i等11款车型，共计2213辆。宝马（中国）汽车贸易有限公司也因车载诊 断软件标定问题，召回部分进口X3 M40i和X4 M40i汽车，共计3736辆，以消除排放风险。这两家公司将为这些车辆提供免费软件升级服务。 现代汽车公司因氢燃料电池公交车排放口盖设计缺陷，决定对1390辆Elec City氢燃料电池公交车采取纠正措施。此外，北京现代也因高压燃油管缺陷，召回 部分索纳塔和途胜L汽车，共计352辆，并将免费更换相关部件。 近期发生的召回行动不仅限于上述3家公司。像奔驰、捷豹路虎、哈雷戴维森、山东锣响汽车以及金龙客车等品牌也纷纷宣布召回计划，涉及多款车型和数 量不等的车辆。这些召回行动均因车 ...

Core Viewpoint - Beijing Automotive's net profit for 2024 has fallen below 1 billion RMB for the first time, marking a ten-year low, with multiple brands under pressure and transformation challenges ahead [2][4][6]. Financial Performance - In Q1 2024, Beijing Automotive reported total revenue of 42.44 billion RMB, a year-on-year decrease of 8.77%, and a net profit of 9.29 billion RMB, down 10.2% year-on-year [2]. - For the full year 2024, total revenue was 192.50 billion RMB, a decline of 2.76%, with fuel vehicle revenue at 184.97 billion RMB (up 1.2%) and new energy vehicle revenue at 7.53 billion RMB (down 50.7%) [4][6]. - The company's gross profit for 2024 was 30.89 billion RMB, a decrease of 19.4%, with fuel vehicle gross profit at 35.33 billion RMB (down 16%) and new energy vehicle gross loss at 4.44 billion RMB [7][19]. Brand Performance - Beijing Automotive's wholesale vehicle sales totaled 946,000 units in 2024, a decline of 9.21% year-on-year [4]. - Beijing Benz's revenue for 2024 was 21.75 billion euros (approximately 177.84 billion RMB), down 3.36%, with a net profit of 2.44 billion euros (approximately 19.98 billion RMB), down 18.54% [8][10]. - The losses from Beijing Modern and Beijing brand are significant contributors to the overall profit decline, with Beijing Modern reporting cumulative losses of 13.08 billion RMB from 2022 to the first nine months of 2024 [15][13]. Market Dynamics - Despite the profit decline, Beijing Automotive's stock price rose by 5.52% on April 30, 2024, following the Q1 earnings release [2]. - The company has seen a significant increase in export sales, with a combined total of 120,000 units exported by Beijing Modern and Beijing brand, marking a year-on-year increase of approximately 103% [17]. Investment and Future Outlook - Capital expenditures for 2024 reached 53.80 billion RMB, up 9.8%, while R&D expenditures increased by 20.2% to 4.29 billion RMB, primarily for new energy vehicle development [19]. - The company maintains a healthy cash flow with cash and cash equivalents of 33.60 billion RMB and unused bank credit of 15.63 billion RMB, indicating manageable debt levels [21]. - The company is at a critical transformation juncture, needing to balance its fuel vehicle base with breakthroughs in new energy vehicles while addressing the losses from its joint venture, Beijing Modern [22].

2025年4月的上海国家会展中心，依旧人潮汹涌、闪光灯此起彼伏。但与往年相比，车展的气氛正悄然发生变化。在炫目的新车、铺天盖地的发布会之 外，展台背后，也有着不少车企的压力焦虑与叹息。 燃油车向智能电动化过渡已成行业共识，但当技术红利逐渐消退、消费者愈发理性，曾经那些靠概念和速度"抢市场"的时代已一去不复返。取而代之的是 产品、技术、品牌、体系能力的全面比拼。如今的传统车企与豪华品牌，正努力迎合中国市场进行电气化转型，而在新势力阵营中，更是几家欢喜几家 愁。#2025我在上海车展# 01 没来车展的品牌咋样了？ 作为2025年国内第一个A级车展，上海车展承载着各大汽车品牌全年的发展规划，不少重磅车型都选择在车展上亮相或发布。然而在一片热火朝天中，却 有不少汽车品牌缺席这场年末盛会。 据了解，本届上海车展缺席车企有：北京现代、悦达起亚、捷尼赛思、东风雪铁龙/标致、哪吒汽车、极星、雪佛兰以及、劳斯莱斯、兰博基尼、玛莎拉 蒂等超豪华品牌。其中不排除有品牌基于自身策略和考量，也有的品牌在越来越卷的市场中已难以生存。 以哪吒汽车为例，其曾是国内炙手可热的新势力品牌之一，月销量最高达到3万辆以上，但自2024年底以来，哪 ...