The year 2018 has been quietly approaching. Looking back to the past year of 2017, the Chinese car market has witnessed constant incidents. Which of these events make you fresh in your memory? What happened suddenly and made you unexpected? Through the comprehensive consideration of multiple dimensions such as the suddenness of news events, the intensity of dissemination, and the degree of influence on the industry, Gasgoro has specially evaluated eight major “collapse†events in the Chinese auto industry in 2017 and share them with you here.
I. FAW, Dongfeng and Changan set up a "national team"
To say that the automobile ring was the most "unexpected" incident in 2017, the cooperation of FAW, Dongfeng and Chang'an must be one of them.
On the first day of December, FAW, Dongfeng, and Changan, the three "Zhongzi" auto companies, signed a strategic cooperation framework agreement. According to the agreement, the three parties will carry out all-round cooperation in forward-looking and common technological innovation, full-value-chain operation of autos, joint overseas “going outâ€, and new business models.
Although the signing of this agreement does not mean that FAW Dongfeng Changan will be reorganized and merged, only the cooperation of the three parties has actually surprised and excited the industry. For a long time, the industry is not optimistic about the relationship between domestic car companies. Some people in the industry bluntly said that the truth of Baotuan heating is understood by everyone. However, under the circumstances of competition in the market, domestic car companies are more like "dissolving sand." The tripartite cooperation may prove that this situation has been quietly changing, and car companies have begun to move from “you fight for us†to a win-win cooperation.
Of course, the cooperation between car companies is not just one example, but in the wave of Chinese brands' overall upward trend, the cooperation of FAW, Dongfeng and Changan has been given considerable importance. Cui Dongshu, secretary-general of the National Passenger Vehicle Market Information Association, once said that the cooperation between Chang'an, FAW, and Dongfeng Baotuan is a reflection of the integration of front-end technologies for automobiles and the concentration of vehicle core resources, avoiding waste of resources and contributing to China’s automobile going overseas. .
However, it is difficult to deny that the original "autonomy" of car companies must deal with new cooperative relations and there must be a lot of homework to do.
Second, the young Lotus bankruptcy liquidation
As the saying goes, there are people who have lost sight of the scenery and the automotive industry. However, the young Lotus is obviously one of the decliners.
From August 2017 onwards, after a series of factories ceased production, projects were suspended, and wages were owed wages in 2014, Young Lotus finally ended in bankruptcy. However, for the Young Automobile Group, it's not just one thing that irritates people. It is understood that this time involved in the bankruptcy liquidation of more than Zhejiang Youth Lotus, as well as Zhejiang Youth Lotus Engine Co., Ltd. and Hangzhou Yaman Engine Co., Ltd., and these three companies are affiliated companies of the Youth Automotive Group.
Originally, the Youth Automotive Group had set up three sub-groups: commercial vehicle group, passenger vehicle group and auto parts group. Now it seems that the next step seems to depend on its commercial vehicle business. In the current situation, it wants to break. Obviously not so simple.
Third, the concept of the gold master behind the scenes "to show up"
Guanzhi may prove to the industry that the problem that money can solve is not a real problem.
In recent years, the development of Qoros has been rampant, and for 2017, the lack of money has become the biggest problem it faces. According to relevant statistics, from the year of 2011 when Chery Quan officially changed its name to Qoros Automotive, Qoros had a total loss of 10.02881 billion yuan, with an average annual loss of 1.4 billion yuan. In the third quarterly report released by the Australian parent company Kenon Holdings, the company reported a total loss of 285 million yuan in the quarter. Compared with the loss of 42 million in the second quarter, the loss has soared nearly 6 times.
However, with the arrival of the owner behind the scenes, Guanzhi seems to usher in a turning point. As early as mid-2017, Kenon Holdings announced that it had signed an investment agreement with a Chinese company that intends to invest 6.5 billion yuan in exchange for a 51% stake in Qoros. As for which company is specific, it was not until the end of December that the industry got the exact news. On December 21, the Changjiang Equity Exchange issued an announcement on the transaction of the 25% equity transfer project of Guanzhi Automobile Co., Ltd. The transaction price was 1.625 billion yuan. Half of the 50% of the shares owned by Chery in the hands of Chery were sold to Baoneng. Afterwards, QUANUMUM (2007), a foreign company, announced that 26% of its 50% shares will also be sold to Baoneng.
Undoubtedly, the introduction of external capital first stop loss is particularly important for the current concept, and Baoneng Group's strategic investment view is undoubtedly at a loss. However, it needs to be pointed out that although the lack of money is currently the biggest issue currently facing Qoro, it is obviously not the only problem.
Four, FAW and Changan Exchange "Head"
At the beginning of August, FAW Group issued an official announcement announcing Xu Liuping as chairman and party secretary of China FAW Group Corporation, and removing the position of its director, general manager and deputy party secretary of China National Weapons and Equipment Corporation; Xu Ping served as chairman of China Ordnance Equipment Group Corporation. Secretary of the Party Group, he was removed from the position of chairman and party secretary of China FAW Group Corporation.
After the confirmation of “Shuang Xuâ€, compared with Chang’an Automobile’s concern, the industry will focus more on what Xu Weiping can bring to FAW. The reason is nothing more than that FAW is currently facing a lack of product strength in its own segment. And the overall market pressure and many other aspects. In fact, since the introduction of Xu Liuping into FAW, FAW Group has successively carried out some drastic reforms. Of course, measures such as personnel exchange and corporate restructuring have not yet brought about very obvious results, but this series of reforms has already made FAW a reality. The Group's future market performance has even made the industry look forward to.
Although the current issue of FAW seems to be more urgent, the current pressure on Changan Automobile is not too small. In 2017, the once falling sales of Changan Automobile made the industry stunned and exposed a series of problems in its products and marketing. Chang'an has already started a series of reforms in this regard, but like the FAW reform situation, it will take time for the effect to show up.
V. FF financing fog
From the public view of the Letv crisis, the departure of the United States, the turmoil of trust, to being included in the “Lao Lai†list by the court, Jia Yueting’s 2017 may be described as “a wave of unreliability and a wave of turmoilâ€. Recently, the FF financing that the industry is more concerned about has been After a series of twists and turns, eventually it is still full of haze, and the way out of Jia Yueting is still a mystery.
In early December, FF was blown into an investment of more than one billion U.S. dollars. However, two days later, there was news that it did not make money. Afterwards, things reversed again at Christmas. According to informed sources, COO Gao Jingshen of LeTV Automobile Company confirmed the news that US FF financing was in place and said that funds had been paid in succession. However, on the same day, the Beijing Securities Regulatory Bureau of the China Securities Regulatory Commission issued a circular to order Jia Yueting to return to China before January 31st. Later, the legal documents that the Levision asset was frozen again and Jia Yueting's property was seized were also revealed.
"Blindfolding" "Dying to struggle"... In the evaluation of Jia Yueting by people in the auto circle, such words appear frequently. Obviously, Jia Yueting is not favored. Although the industry’s focus on him is more focused on the success of FF financing, some people in the industry pointed out that even if FF financing is in place, Jia Yueting’s situation is still not good, let alone Jia Yueting, whose credit has been heavily overdrawn. Whether or not you can finance it requires a big question mark. What is even more noteworthy is that for the current rumors of the FF financing in place, Jia Yueting, who has always been high-profile, did not even have the time to confirm this, which may be flawed in itself.
Six, Geely "buy buy buy" can not stop
In the car circle, like LeTV, "The house leaks every night rain", but also as lucky as the wind rises.
On December 27th, Zhejiang Geely Holding Group announced that it had reached an agreement with European fund company Cevian Capital to acquire 88.47 million A shares and 75.77 million B shares held by Volvo Group. After the completion of the project, Geely Holding will own 8.2% of the Volvo Group and become its largest holding shareholder.
Before that, Geely not only won a 49.9% stake in Proton Motors, a 51% stake in the luxury sports car brand Lupus, but also acquired the American Flying Car Company. What is more worth mentioning is that before this acquisition of Volvo Group's equity event, Geely has also been throwing 40 billion to become a Mercedes-Benz shareholder. Although this news has not yet been officially confirmed, but many insiders said that according to Geely In the past, it was still very possible to enter the Mercedes-Benz.
Geely's ambition can be seen from this, and unlike some companies' aggressiveness, Geely's above series of actions can be described as a matter of course. Insiders should understand that, in 2017, Geely's market value has repeatedly hit new highs. It also surpassed BYD and GAC Group around July, and the market value ranked second in autos. From the perspective of sales volume, Geely Automobile also made great strides in 2017. As of November, its annual sales volume has reached 1.094 million units. According to expectations, Geely will sell 1.25 million vehicles this year, and its profit is expected to exceed RMB 10 billion.
Seven, Ford's phase in the Thai "unexpected"
Ford Motor announced on August 22 that it had signed a memorandum of cooperation with Zotye Auto. Both parties will provide Chinese consumers with pure electric vehicles using their own brands, and the two parties will each hold 50% of the shares. As soon as the news was revealed, the automobile industry was buzzing and even the industry insiders expressed emotion: Ford, as a multinational company, was really willing to fight in order to meet domestic "double-credit" requirements.
You know, in the past, it was hardly a level that Ford Motor and Zotye Automobile probably did not have the ability to “get lost in the eighties.†However, in the current industry context, this cooperation can be described as “unforeseeable and reasonable.†". In order to share the dividends of China's new energy auto market and cope with the upcoming double-entry policy, combining with existing local new energy auto companies has become a favored method for many foreign-invested car companies and certain independent brands. Ford Motors is not alone.
However, the spectators in the automotive industry are still very interested in what kind of sparks the two car companies will be able to wipe out.
VIII. Great Wall Cooperation with BMW MINI
After experiencing the scandal with the FCA, the Great Wall seemed to have made another trip in cooperation with the BMW MINI.
Before and after October, rumors that Great Wall Motor had to establish a joint venture with BMW went ahead. After a few days, the two parties responded. According to the Great Wall at that time, the feasibility of the MINI brand automobile cooperation is still being explored and evaluated. There are still major uncertainties as to whether the two sides will formally cooperate. However, after this, there seems to be no progress in this cooperation.
Although the cooperation between enterprises does not coincide with Chengdu, this cooperation is particularly important for the Great Wall. Insiders pointed out that if the Great Wall MINI project is shelved, it will lose an emperor in terms of new energy vehicles. Although in 2017, Great Wall identified a joint venture with Hebei Yu Jie to produce electric vehicles in response to the upcoming double-integration policy. However, in the view of the industry, for the Great Wall, which started relatively late in this area, this measure alone Obviously still not enough.
However, before the end of 2018, the Great Wall has new news and may be related to this. According to news on Christmas Day, the new Great Wall base fell in Yongchuan, Chongqing, and due to the relatively thorough confidentiality work, the industry has not yet understood the total investment and capacity planning of the Great Wall Yongchuan Base and the future plans for new products. However, it is not ruled out that this is the new energy automobile production base of Great Wall Motors, and it may be extremely relevant to the cooperation of Great Wall Motors.
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