此前Stellantis的股价已长期承压，其在巴黎上市股份2024年下跌33%，2025年跌幅达18%，2026年1月又 下跌了12%。此次超25%的单日暴跌进一步加剧了投资者的担忧。 说起斯特兰蒂斯，可能很多人都不太了解。但如果提起标致、雪铁龙、Jeep以及玛莎拉蒂这些品牌，可 能大部分人都知道。而上述汽车品牌，都是斯特兰蒂斯旗下的。 来源：环球零碳 来源：Getty Images 黑天鹅突袭，全球第四大汽车巨头，突然爆雷。 当地时间2月6日，全球第四大汽车制造商斯特兰蒂斯集团（Stellantis）美股开盘后股价大幅下挫，盘中 一度跌超26%，截至收盘跌23.79%。 此前，在欧洲交易时段，斯特兰蒂斯欧洲股价一度暴跌近30%，最终大幅收跌25.24%，创下了有史以来 单日跌幅最高纪录。 公开资料显示，Stellantis集团是由法国标致雪铁龙集团与意大利-美国菲亚特克莱斯勒集团合并而来。 合并后集团在巴黎、米兰及纽约证券交易所上市，旗下拥有Jeep、玛莎拉蒂、标致、雪铁龙等14个品 牌。 最新数据显示，2025年四季度，Stellantis销量为150万辆，同比增长9%；2025年全年销量541.7万辆， ...

丰田汽车将增产利用发动机和电机驱动的混合动力车（HV）。将以美国为中心，对发动机和零部件工 厂进行投资，到2028年使混动车产量达到670万辆规模，比2026年计划产量增加3成。在欧美，纯电动汽 车（EV）普及政策相继缩减，在燃效和价格方面具备优势的HV需求正在增加。大型车企已开始大幅调 整环保车战略。 丰田近期将上述计划通知给主要零部件厂商。丰田计划到2028年将包括汽油车和纯电动汽车在内的整体 全球产量比2026年增加1成，达到约1130万辆。 其中，包括可外部充电的插电式混合动力车（PHV）在内的HV定为670万辆。HV占该公司全球产量的 比例将从2026年的5成提高至2028年的6成。 HV能高效区分使用发动机和电机，与发动机车相比，燃效性能更高。短距离情况下仅靠电力行驶的 PHV在家里也可以充电。丰田1997年推出全球首款量产HV"普锐斯"，带动了市场的扩大。目前在HV市 场占全球份额的6成。 丰田于2025年11月宣布，计划今后5年最多向美国投资1.5万亿日元。首先将向5座工厂投资1400亿日 元，增产HV专用发动机和零部件。2028年以后还将在美国南部密西西比州的工厂生产主力轿车"卡罗 拉"的混 ...

随着2025年中国新能源汽车渗透率突破50%大关，全球车企的销量排名发生了新的变化，中国车企的排 名再度攀升。 据各车企发布的销量数据（下同），2025年，全球汽车销量前10名的排名序列较为稳定，丰田、大众汽 车、现代起亚仍旧稳坐前三甲，销量分别约为1132万辆、898万辆、727万辆。 | | | 2025年全球车企销量TOP 10 | | | | --- | --- | --- | --- | --- | | 排名 | 车企 | 相较2024年排名 | 销量(万辆) | 核心车型 | | 1 | 丰田集团 | 不要 | 1132 | RAV4、卡罗拉 | | WN | 大众集团 现代起亚 | 不要 不变 | 898 727 | ID.4、高尔夫 途胜 | | 4 | Stellantis | 不要 | 约538 (预估) | 雪铁龙、标致 | | 5 | 比亚迪 | 不变 | 460 | 汉、宋系列 | | 6 | 通用汽车 | 不要 | 450 | 索罗德皮卡 | | | 吉利控股 | 前进3位 | 411 | 银河E5、星愿 | | 8 | 本出 | 不要 | 352 | CR-V | | 9 | 福 ...

紧随其后，两家中国车企在榜单中的成绩尤为亮眼。比亚迪依然超越通用汽车、福特汽车两家美系车 企，以年销460万辆的成绩，稳居全球车企销量第5名。吉利控股集团的排名由2024年的第10名上升至 2025年的第7名，年度销量首超福特、本田、日产三大全球车企。 稳步上升的中国车企。 随着2025年中国新能源汽车渗透率突破50%大关，全球车企的销量排名发生了新的变化，中国车企的排 名再度攀升。 据各车企发布的销量数据（下同），2025年，全球汽车销量前10名的排名序列较为稳定，丰田、大众汽 车、现代起亚仍旧稳坐前三甲，销量分别约为1132万辆、898万辆、727万辆。 | | | LULJ == M == L == L == = | | | | --- | --- | --- | --- | --- | | 排名 | 车企 | 相较2024年排名 | 销量(万辆) | 核心车型 | | 1 | 丰田集团 | 不少 | 1132 | RAV4、卡罗拉 | | 2 | 大众集团 | 不要 | 898 | ID.4、高尔夫 | | 3 | 现代起亚 | 不要 | 727 | 途胜 | | 4 | Stellantis | 不 ...

Super Bowl LX marks the apex of Toyota's "All In. All Season." campaign, which delivers community impact through regional and national NFL FLAG support, with more than 300,000 players supported by Toyota dealers nationwide in local league play. Fans also had the chance to win weekly prizes, including a first-ever opportunity to score Brock Purdy's favorite Toyota Sequoia Capstone. Toyota Brings the Vehicle Lineup including the all-new RAV4 and bZ to Super Bowl LX with Live Content and Unforgettable Experien ...

以下文章来源于日经中文网 ，作者日经中文网 日经中文网 . 编制日经指数的《日本经济新闻》的中文版。提供日本、中国、欧美财经金融信息、商务、企业、高科技报道、评论和专栏。 2025年6月，丰田召集交易伙伴举行了内燃机誓师大会，"我们到2030年内之前会一直维持内燃机的总数量"。丰田章男表示："发动机依然 有它的作用"。为什么在EV终将成为主流的时代，丰田仍执着于开发大型发动机？ 混合动力车（HV）"普锐斯"的发动机排量为1.8～2.0升。在环保法规日益严格的背景下，该车反而引入大排量发动机。作为市售 车，将实现世界顶级水准，被定位于跑车的巅峰之作。 继承旗舰跑车血统的"GR GT"与以往的车型存在一个不同点。此前一直由丰田与雅马哈发动机联合开发，而这一次则由丰田独立 研发。 为什么在纯电动汽车（EV）终将成为主流的时代，丰田仍执着于开发大型发动机？ "汽车这种工业产品正在走向同质化（Commoditization）"，丰田会长丰田章男一直对此表现出危机意识。 在电动车和自动驾驶时代，优劣将由电池与人工智能（AI）的性能决定。对自诩"发动机制造商"的丰田来说，这可能意味着失去 企业的根基，因此危机意识非常强烈。 ...

Core Insights - Toyota Motor has maintained its status as the world's top-selling automaker in 2025, achieving record sales of 10.5 million units, a 3.7% increase from the previous year, surpassing Volkswagen Group's 9 million units and Hyundai Motor Group's 7.27 million units [1] - The growth in sales was significantly driven by strong demand for hybrid vehicles in the U.S., particularly models like the Prius and RAV4 [1] Group 1 - Toyota's U.S. sales increased by 7.3% to 2.93 million units, despite the imposition of aggressive tariffs by the U.S. government [2] - The company successfully absorbed tariff-related costs instead of passing them onto consumers, focusing on local production and cost controls [2] - Toyota estimated that U.S. tariffs would cost it 1.45 trillion yen ($9.7 billion) in the fiscal year ending March 2026, yet raised its full-year operating profit forecast due to effective cost reductions and strong demand outside the U.S. [3]

Core Viewpoint - Toyota is committed to maintaining the total number of internal combustion engines until 2030, despite the shift towards electric vehicles (EVs) [2][8]. Group 1: Internal Combustion Engine Strategy - Toyota's President Akio Toyoda emphasized the importance of internal combustion engines, stating that they still have a role to play in the automotive industry [6][8]. - The company held a "combustion engine pledge conference" in June 2025, where it announced plans to develop various high-power engines [8]. - The upcoming "GR GT" supercar, set to launch around 2027, will feature a 4-liter V8 engine, marking a shift as it is developed independently by Toyota rather than in collaboration with Yamaha [4][6]. Group 2: Hybrid Vehicle Investment - Toyota plans to invest up to $10 billion in the U.S. over the next five years to increase production of hybrid vehicles and their components [8][10]. - The hybrid vehicle "Prius" will now incorporate larger engines, reflecting a strategic response to stringent environmental regulations [4][6]. - In the U.S., hybrid vehicles accounted for approximately 13% of new car sales from July to September 2025, leading Toyota to increase local production of core components [10]. Group 3: Electric Vehicle Development in China - Toyota is shifting its strategy in China, focusing on developing models specifically for the Chinese market rather than global models [12][14]. - The company plans to launch the EV sedan "bZ7" in spring 2026, following the successful introduction of the electric SUV "bZ3X" [14]. - Toyota's sales in China have been declining, with projections of 1.77 million units sold in 2024, indicating a need for a more localized approach [11][14]. Group 4: Research and Development Costs - Toyota's R&D expenses for the fiscal year 2024 are projected to be 1.3 trillion yen, which may lead to challenges in keeping pace with emerging competitors like BYD and Tesla [16]. - The company is also collaborating with NTT on AI and communication infrastructure to enhance safety and with Waymo for advancements in autonomous driving [16].

Core Insights - The U.S. auto industry experienced a strong performance in 2025, with total sales rising about 2% to approximately 16.2 million units, marking the best year since 2019 [1][9] - Despite high vehicle prices and rising financing costs, demand for trucks and SUVs drove early-year growth, although the market slowed in the fourth quarter due to cooling electric vehicle (EV) demand following the expiration of federal tax credits [1][6] U.S. Auto Industry Performance - Car buyers faced record prices, with an average new vehicle price of $50,326 in December 2025, a 0.8% increase from November [2] - General Motors (GM) remained the top-selling automaker in the U.S., delivering 2.85 million vehicles in 2025, a 5.5% increase from 2024, and extended its leadership in full-size pickups for the sixth consecutive year with sales of 940,000 units [3][9] - Toyota Motor (TM) was the second largest seller, delivering 2,518,071 vehicles, an 8% rise from 2024, with electrified models accounting for 47% of sales [4] - Ford (F) ranked third with total annual sales of 2.2 million vehicles, achieving a 13.2% market share, and its F-Series remained the best-selling truck in America with sales of 828,832 units, up 8.3% [5] Electric Vehicle Trends - U.S. EV sales fluctuated significantly in 2025, with early demand spiking before the expiration of federal tax credits, leading to a record third quarter, but a sharp slowdown occurred in the fourth quarter due to reduced incentives and affordability concerns [6][7] - Tesla (TSLA) faced its second consecutive annual delivery decline, with total deliveries of approximately 1.64 million vehicles, down from nearly 1.8 million in 2024, attributed to falling incentives and increased competition from Chinese EV makers [7][9] - Legacy automakers like Ford, GM, and Stellantis (STLA) adjusted their EV strategies in response to cooling demand, shifting resources towards higher-margin vehicles and proven revenue drivers [8][10] Future Outlook - The U.S. auto industry enters 2026 with caution, as easing inflation and expected interest rate cuts may support buying power, but a slower labor market could affect consumer confidence [12] - Government policy, including tariffs and fuel economy rules, will continue to impact the industry, with the renegotiation of the USMCA trade deal in 2026 being particularly significant [13] - New-vehicle sales are projected to decline to about 15.8 million units in 2026, a decrease of 2.4% from 2025, as the industry prepares for a new phase of transformation [14][15]

Group 1 - Toyota's sales in the U.S. market for large SUVs, particularly the "Grand Highlander," have shown a significant increase, with a year-on-year growth of 8% [2][4] - Among six Japanese automakers, Toyota, Honda, and Nissan achieved positive growth in 2025, with Toyota's sales reaching 2,518,071 units, marking a substantial lead over competitors [4] - The overall sales of electric vehicles (EVs), including hybrid vehicles (HV), increased by 17.6%, accounting for 47% of Toyota's total sales [4] Group 2 - The sales rebound of the "Grand Highlander" and "TX" models, which had previously been affected by recalls, contributed to Toyota's growth [4] - Lexus, Toyota's luxury brand, also saw a sales increase of 7.1%, reaching a record high of 370,260 units, driven by models like the TX [4] - In contrast, other Japanese automakers faced challenges in the U.S. market, with Honda's sales only increasing by 0.5% to 1,430,577 units due to semiconductor supply shortages impacting production [5]