西方车企正追逐国防开支热潮，以期销售更多车辆并利用闲置产能，尽管高管们表示，军工业务无法弥补汽车销售放缓和中国竞争加剧带来的影响。
Western automakers are chasing a defence spending boom as a way to sell more vehicles and make use of underemployed factories, though executives say military work will not make up for slowing car sales and growing Chinese competition.
包括福特、通用汽车和捷豹路虎在内的车企，正利用其已生产的皮卡和越野车的改装版本竞标军工合同，而其他车企则将闲置工厂出售给正在扩产的军工制造商。业界正试图分享西方国防开支增长的红利，但高管和分析师向路透社表示，实质性提振营收的机会依然有限。
Automakers including Ford, General Motors and Jaguar Land Rover are bidding for military contracts using modified versions of pickup trucks and off-road vehicles they already produce, while others are selling underused plants to defence manufacturers expanding capacity. The industry is tapping into rising Western defence spending, but executives and analysts told Reuters the opportunities to materially boost revenue remain limited.
杰富瑞汽车分析师Vanessa Jeffriess表示：“实际上，所有这些机会对财务的影响都微乎其微。”她补充称，车企面临需求放缓和中国竞争对手竞争加剧的双重压力，迫使它们至少要向投资者展示正在尝试多元化发展。作为美国最大车企，通用汽车预计其国防部门今年将实现7亿美元营收，并未来几年保持30%的年增长率。但即便如此，到2029年营收也仅约15亿美元，不足2025年集团1850亿美元营收的1%。
"In reality all of these opportunities will have very little financial impact," said Jefferies auto analyst Vanessa Jeffriess, adding that automakers face slowing demand and intensifying competition from Chinese rivals, putting them under pressure to at least show investors they are trying to diversify. GM, the biggest US automaker, expects its defence division to generate revenue of $700 million this year and grow by 30% annually for several years. But that would put revenue at about $1.5 billion in 2029, less than 1% of group revenue of $185 billion in 2025.
传统美欧车企正在中国市场向比亚迪、吉利等本土竞争对手失去份额，而中国品牌为抵消国内需求疲软，正迅速向欧洲和新兴市场扩张，挤压利润空间，导致西方制造商产能过剩。大多数主流车企几十年前就放弃了军工合同，但随着从欧洲到北美的各国政府加大军费开支，国防已成为该行业为数不多的增长领域之一。
Traditional US and European automakers are losing market share in China to home-grown rivals like BYD and Geely, while Chinese brands are expanding rapidly into Europe and emerging markets to offset weak domestic demand, squeezing profit margins and leaving Western manufacturers with excess capacity. Most major automakers ditched military contracts decades ago, but as governments from Europe to North America ramp up military spending, defence has emerged as one of the few growth sectors for the industry.
已具备规模化生产能力 分析师认为，车企现有资产蕴含最切实可行的机会。
ALREADY PRODUCING AT SCALE Analysts see the most realistic opportunities in assets that automakers already have.
福特欧洲负责人吉姆·邦比克表示，向军方提供车辆符合公司“提供高载重硬派车型”的现有优势。福特、通用汽车和英国的捷豹路虎（JLR）是竞标一份价值9亿英镑（12亿美元）的英国国防部车辆合同的公司之一，该合同初步涉及3000辆车，使用的是他们已生产的卡车和越野车的改装版本。
Ford's European head Jim Baumbick said providing the military with vehicles fits with the company's existing strengths of providing "tough vehicles with high payloads". Ford, GM and Britain's JLR are among companies bidding for a £900 million ($1.2 billion) UK Ministry of Defence vehicle contract, initially for 3,000 vehicles, using modified versions of trucks and off-road vehicles they already make.
福特以其Ranger皮卡参与竞标，而通用汽车的两款竞标车型是经过改装的雪佛兰Silverado皮卡，将针对英国军用进行改装。作为印度塔塔汽车旗下单位的捷豹路虎，则以其越野车型卫士参与竞标，所有公司都押注于数十年的工程积累、制造规模和全球供应链能让他们在专业防务公司中占据优势。“这些卡车从一开始就非常强悍，这并非难事，”通用汽车防务部门国际销售与市场营销副总裁吉尔伯特·纳尔逊表示，指的是军用所需的改装工作。
Ford is bidding with its Ranger pickup truck, while two models in GM's bid are retrofitted Chevrolet Silverado pickup trucks which will be modified for UK military use. JLR, a unit of India's Tata Motors, is bidding with its off-road Defender model, and all are betting that decades of engineering, manufacturing scale and global supply chains can give them the edge over specialist defence firms. "They're such capable trucks from the beginning, that's not a heavy lift," said Gilbert Nelson, GM Defense's vice president for international sales and marketing, referring to the modifications required for military use.
捷豹路虎北美首席执行官、前卫士品牌负责人马克·卡梅伦表示，该车企还与“欧洲许多国家……以及更远地区”就未来12至18个月内到期的类似招标进行了讨论。卡梅伦表示，使用捷豹路虎已大规模生产的车型具有“战略价值”，尽管公司并不依赖这一点。
JLR North America CEO and former head of the Defender brand Mark Cameron said the automaker has also had discussions "with lots of countries across Europe... and further afield" about similar tenders due in the next 12 to 18 months. Cameron said using a vehicle JLR already makes at scale was "strategically valuable" though the company was not dependent on it.
为工厂寻找买家 汽车行业的另一个诱人前景是能够将过剩产能出售给希望在不从头建厂的情况下扩大防务生产的公司。
FINDING BUYERS FOR FACTORIES Another attractive proposition for the auto industry is being able to offload surplus manufacturing capacity to companies looking to expand production in defence without the cost of building from scratch.
意大利汽车制造商Stellantis计划将一座闲置的加拿大工厂出售给装甲车制造商Roshel，而本月初，德国大众汽车同意将其奥斯纳布吕克工厂出售给以色列的Aurelius Capital和德国下萨克森州，用于与拉斐尔先进防御系统公司的合作项目。分析师表示，出售工厂而非多元化生产，是国防热潮带来的最明确收益之一。
Italy's Stellantis is planning to sell an idled Canadian factory to armoured-vehicle maker Roshel while earlier this month Germany's Volkswagen agreed to sell its Osnabrueck plant to Israel's Aurelius Capital and the German state of Lower Saxony for a project with Rafael Advanced Defense Systems. Analysts said factory disposals rather than diversifying production are one of the clearest benefits from the defence boom.
AutoAnalysis咨询公司总监Ian Henry表示：“关于向国防生产多元化的讨论很多，但实际行动却不多。”供应商也可能成为国防开支增加的更大受益者。与整车装配厂不同，供应商规模较小、更灵活的生产线通常只需有限投资即可适应军事项目。
"There's been a lot of talk," about diversifying into defence production, said Ian Henry, director of consultancy AutoAnalysis. "But there's not been a lot of concrete action." Suppliers could also emerge as bigger beneficiaries of rising defence spending. Unlike vehicle assembly plants, their smaller and more flexible production lines can often be adapted to military programmes with limited investment.
Henry说：“汽车装配线根本不适合制造零部件，因为它们太大了。”法国供应商Valeo首席执行官Christophe Perillat在7月表示，对供应商而言，国防行业“驱动增长，而汽车市场不再驱动增长”，并补充说军事合同提供的利润率也高于传统汽车业务。
"Car assembly lines are just not geared for making components," because they are too large, AutoAnalysis' Henry said. For suppliers, the defence industry "drives growth, which the automotive market does not," Christophe Perillat, CEO of French supplier Valeo said in July, adding that military contracts also offered higher profit margins than traditional automotive business.
法国供应商Forvia首席财务官Olivier Durand表示，Forvia正利用现有产能探索军事机会。“所需工业投资非常低……所以前景相当有吸引力，”他说。
French supplier Forvia is using its existing production capacity to explore military opportunities, CFO Olivier Durand said. "The industrial investment required is very low... so it's quite an attractive prospect," he said.
Forvia最近还签署协议，将德国一家工厂及300名员工转移给国防企业通用动力公司。核心业务仍是汽车一些车企在美国和法国进一步推进国防业务。雷诺计划明年起与法国国防技术公司Thales合作，每月生产1000架军用无人机，尽管高管承认与汽车业务相比规模很小。Oddo BHF汽车分析师Michael Foundoukidis表示，雷诺每天生产约10000辆汽车。
Forvia also recently signed a deal to transfer a factory in Germany and 300 staff to defence firm General Dynamics. CORE BUSINESS REMAINS VEHICLES Some automakers are pushing further into defence in the US and France. Renault plans to produce 1,000 military drones per month starting next year with French defence technology firm Thales, though executives acknowledge the scale is small compared with its automotive operations. Oddo BHF auto analyst Michael Foundoukidis said Renault makes about 10,000 vehicles a day.
JLR每年生产超过10万辆卫士，正避免拓展新业务并与专业公司竞争。JLR的卡梅隆表示，车企在陌生领域将面临强劲竞争。"我们的核心业务是汽车，"他说，"我们不想涉足任何分支业务。"
JLR, which makes over 100,000 Defenders a year, is avoiding branching out and competing with specialist companies. JLR's Cameron said automakers would face formidable competition in unfamiliar sectors. "Our core business is vehicles," he said. "We don't want to stray into any offshoots."