Essentially, it’s because the AM/FM radio antenna is hidden – much like the WiFi antenna on your phone or laptop.
In a laptop, the WiFi antenna runs [ around the perimeter of the screen](https://i.stack.imgur.com/yFAUo.jpg). This gives it a decent antenna size while remaining completely hidden. Same for your phone, if you look at pictures of old phones they all have [huge aerials](https://images.techhive.com/images/article/2015/11/old_nokia_phones-100625503-large.jpg). More modern phones still have an antenna, it’s just [hidden inside](https://www.scionlife.com/forums/attachments/tc-tech-diy-1818/102337d1501486427-shaved-relocate-hidden-antenna-dsc02184.jpg). In a car, the antenna might run around the windscreen or along the roof.
The little stump on some cars doesn’t usually hold an AM/FM antenna, it’ll be for onboard GPS, satellite, or the DAB radio.
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