When 2019 officially became history, everything has been finalized. For China’s industry, the cold wind was unusually cold this year. From the situation of several happy families in the past to the present, everyone has chosen to hold a group to keep warm in order to survive, which has turned sharply.Market situationIt makes many automobile practitioners feel anxious.
By consulting the information, the online auto market summed up the top 10 most frustrated auto brands in 2019, namely: Dongfeng Fengxing, Zotye, Alfa Romeo, DS, Baowo, Haima, Lifan, Changhe and SWM Siwei. Among them, Dongfeng Fengxing has the lowest known sales target completion rate, only achieving 50.5%.(This is the data after adjusting the sales target twice.), and the most known losses are Lifan and Zotye Automobile. The former is only inIn the first three quarters of 2019, it lost 2.633 billion yuan.! The latter is caught inCompany assets several timesBe enforced by the court、Freeze of major shareholders’ sharesThe situation.
No.1 Dongfeng Fengxing adjusted its sales target twice, and the achievement rate was only half.
Reason for listing: In the second half of 2019, the sales target was reduced by nearly 40%, but it was still not reached.
In order to achieve the 2019 annual sales target, Dongfeng is popular.At the end of 2018, the senior management of the company was completely "changed". The former general manager Xuan Ying, the secretary of the Committee Tan Liuming, the vice president Mo Rongbo and Mao Weiguo were all replaced. newly appointedAfter general manager Tang Jing took office,Dongfeng Fengxing set a sales target of 230,000 in early 2019, but the sharp decline in sales in the first half of the year forced it to reduce its target to 140,000 vehicles by 40% in the middle of the year. However, despite this, Dongfeng Fengxing did not meet expectations. In 2019, only 116,153 vehicles were sold, and the secondary adjustment sales target value was still not reached.
The main reason for the high-digit decline in company sales is the core products.Continued weakness of the popular T5 series.. In March 2019, Dongfeng released the extended version of T5 — — T5L, I thought this car could save the decline of T5 to a certain extent, but I didn’t expect consumers to buy it. In the second half of the same year, Dongfeng Fengxing launched the national VI version of T5/T5L, but it still had little effect.
No.2 zotye automobile Wage arrears, layoffs and company assets are enforced by the court.
Reasons for listing: indelible brand imprint — — Lack of high imitation core competitiveness
"Half angel, half devil" is an appropriate description of Zotye cars in the past. This independent brand, which once won the public’s attention by "high imitation" luxury cars, has also won the favor of many customers because of its outstanding cost performance. However, this simple and rude development model is not reliable. When other China brands start to develop independently, Zotye’s existence is very striking. In 2019, for Zotye, it is already at stake! The data shows that in the first three quarters of that year, the cumulative sales volume of Zotye Automobile was only 134,600 units, with a year-on-year plunge of 32% and a huge loss of 759 million yuan.
In addition, Zotye Auto has been mired in a series of negative storms such as unpaid wages, layoffs and default on loans. The shares of Tieniu Group, the controlling shareholder of the company, were frozen by the judiciary on November 7 of the same year due to contract disputes. In the case that the company’s cash flow is already in jeopardy, Zotye still needs to repay the loan of 615 million yuan owed to Bike Power Battery and overdue liquidated damages.
No.3 Alfa Romeo is a good car, but its brand image is disgraced.
Reasons for listing:5.8% off sale, buyGhibli sent Giulia
Alfa Romeo officially entered the China market in 2017, bringing Giulia and Stelvio. Giulia is a medium-sized car, which attracted the attention of many performance car enthusiasts at the beginning of its listing. It is equipped with the same 2.9T engine as Ferrari, and the acceleration of 100 kilometers takes only 3.9 seconds. The 350 limited-edition models launched at the time of launch were robbed on the e-commerce platform.
By 2018, Alfa Romeo’s sales in China had declined. In 2019, it was getting closer and closer to the implementation of the national six emission standards. In order to digest a large amount of inventory, all localities launched a series of profit-making activities, including 6.5% off group purchase, buying Maserati Ghibli for Giulia and 5.8% off, but few people paid attention to it.
Alfa Romeo, which has a big diving price, has even lower purchase threshold than the mainstream joint venture models of the same level, but its high maintenance price is a high wall in front of consumers. Previously, a Stelvio had a rear-end collision with the front car. In the case that the front face was damaged, the hood was deformed and bulged, and the damage was not particularly serious, the maintenance quotation showed that the maintenance cost was as high as 110,000 yuan.
The rapid decline of Alfa Romeo is not limited to China, and ALFA 4C officially stopped production in 2019 due to poor sales in overseas markets. In addition, the merger of FCA Group and PSA Group has also affected the future of Alfa Romeo. The number of products announced in the previous five-year plan has been reduced from 7 to 4.
No.4 Brilliance China’s annual sales volume is only over 20,000 units.
Reasons for listing: few products, slow iteration speed, and dealers quitting the network.
Compared with the heyday of the joint venture company, the voice of the independent passenger car brand Brilliance Zhonghua has been very small, which is the lowest brand in China.In 2019, China’s cumulative sales volume was only over 20,000 vehicles, down about 70% year-on-year. What makes China "frustrated" most is the medium-sized SUV— — China V7, even in the case of adding 1.8T models, has not brought it increment.
In addition, Brilliance wanted to use BMW as an endorsement and spent huge sums of money to develop a modular platform — — M8X, equipped with BMW Prince series engines. However, judging from the current situation, M8X has not brought substantial benefits to China, and the first model, Zhonghua V7, based on this platform can be described as "a bad start". At the same time, I have always wanted to use the cooperation with BMW to promote the "helm" of Brilliance’s independent business sector — — Qi Yumin also stepped down in 2019, which had some influence on Chinese brands.
No.5 DS is a "luxury brand" with less sales than Ferrari sports cars.
Reasons for listing:The accumulated loss was nearly 5 billion yuan, which was abandoned by both shareholders.
DS is a luxury brand under PSA (Peugeot Citroen Group), which is produced and sold by Changan PSA, a joint venture company. At present, there are five domestic models. During 2013-2015, the performance of DS in China market was remarkable, and then it began to decline rapidly. In the past few years, the joint venture company did not give up the DS brand, and launched a brand-new product DS 7 in 2018. However, from the follow-up market feedback, this heavy model did not meet expectations at all. In 2018, the annual sales volume of DS was less than 4,000 vehicles, and only about 2,000 vehicles were sold in the first 11 months of 2019, even less than the monthly sales volume of a model of other similar enterprises.
Along with the sales slump, there are huge losses and idle production capacity. According to the financial report of Changan Automobile on September 30, 2013-2019, the cumulative loss of Changan PSA’s equity income is 2.455 billion yuan. We must know that Changan Automobile only holds half of the equity of Changan PSA, which means that the accumulated loss of Changan PSA in the past six years is as high as 4.91 billion yuan! In November 2019, PSA Group announced that it planned to sell its 50% stake in Changan PSA; On the last day of 2019, Changan Automobile also announced the transfer of the remaining 50% equity of Changan PSA. Being abandoned by both shareholders at the same time, DS is really miserable!
No.6 Baowo Automobile became the "self-satisfied" brand spokesperson after being acquired by Baoneng.
Reasons for listing:Baowo, what have you been doing these two years? Maybe you don’t know yourself.
Since 2015, Baowo has brought himself many hats such as "German luxury", "BBA+B" and "engineer", but the high profile set by the brand people has not improved Baowo’s business a little, and it fell to the bottom in the second year of its debut. At the same time, the huge gap between the exaggerated brand tonality and the actual product strength has also made many consumers feel that their IQ has been insulted.
Nowadays, the sales volume of Baowo continues to be sluggish and the brand is notorious. Even Lu Zhengyao, who has superb "financial skills", is powerless to change it. This capital master who wanted to rely on the Shenzhou system to empower Baowo may not have thought that a strong enough Shenzhou system would have to "rest" when it came to Baowo. Perhaps, the only thing that Baowo can remember this year is the magic advertisement in the circle of friends, which was presented by Lang Yongchun and Tiger Brother online celebrity, Tik Tok.
No.7 Haima Automobile is the main business, and building a car is just a hobby.
Reason for listing: In 2019, it sold 25,000 units and earned more than 70 million by selling houses.
Haima Automobile, with a history of 31 years and 3 million users, also had a bad year in 2019. By the end of November of that year, the cumulative sales volume of Haima was only 25,610 vehicles, a year-on-year decrease of 58.95%.
In April of that year, its stock was subject to "delisting risk warning" and its name was changed from "Haima Automobile" to "*ST Haima". Based on this, Haima had to "sell the house to protect the shell". On November 23, 2019, ST Haima announced that 318 of the 401 properties (Shanghai and Haikou) previously put up by the company had been successfully sold, and the accumulated funds received exceeded 120 million yuan, which affected the net profit by 73.64 million yuan. Although this move has alleviated the current financial pressure of Haima Automobile to some extent, it is not a long-term solution after all. Adjusting its own strategy and introducing external investment may be the best solution.
No.8 Yin Mingshan’s dream of building a car was broken
Reason for listing: sell! Production qualification, sell! Football team, what else to sell?
Lifan is undoubtedly the most dangerous among the top 10 automobile brands: data show that in the first three quarters of 2019, some bank loans of Lifan reached 12.782 billion yuan, and loans from non-bank financial institutions reached 10.486 billion yuan. Lifan has tried a series of ways to save himself from selling teams, factories and qualifications, but these can only be regarded as a drop in the bucket. In order to avoid the break of Lifan’s capital chain, the Chongqing Municipal Government specially set up a creditor’s bank committee for Lifan.
Lifan used to be an important member of private car companies in China, and the situation that it has fallen to now has a lot to do with the deviation of its own strategy. It is reported that if Lifan can get out of the "ghost gate" in the future, it will return to its main motorcycle business.
No.9 the model of "infighting" of Changhe automobile enterprises
Reason for listing: Changhe is a "good boy" that no one dares to touch and manage in BAIC.
Since the completion of "Dachanghe" business restructuring and upgrading to a secondary company under BAIC Group, Changhe Automobile seems to have slowed down all of a sudden. In fact, the successive leaders of BAIC in turn have been consumed by "infighting". Some employees in Changhe issued a document sighing that "infighting is fierce, management is chaotic, wages are low, and there is no benefit and no prospect."
In terms of products, at present, Changhe Automobile has a total of seven models on sale, including SUV, A-class sedan, MPV and new energy series, including three new energy vehicles that are not very popular. Although Changhe has not announced the actual sales figures in 2019, we can boldly predict that it is almost impossible to complete the annual sales target of 250,000-300,000 vehicles previously proposed.
No.10 SWM The moon abroad is not round.
Reason for ranking: "Italian descent" failed to save Sway.
Chongqing’s automobile manufacturing industry has suffered a great impact in the past two years, and SWM Siwei is also on the list with Lifan this time. Compared with the above brands, this self-proclaimed car company with "Italian ancestry" actually made a lot of noise in 2019, and it successively launched three new SUVs, namely G01 F (sports version), G01National Sixth Edition and G05. In order to improve sales, SWM Sway also launched a 20% discount car purchase activity for the 2019 Sway X7, and several other products also have different discounts.
However, after all, building a car is not achieved overnight. Without mature technology accumulation and economies of scale, SWM Siwei will not be able to compete with mainstream independent brands. As a late-start enterprise, it is still unknown whether SWM Siwei can be as lucky as Lifan, and the local government will take the lead in improving the operation of the enterprise.
