A few days ago, the Financial Times disclosed in a report in November that SAIC Motor said its own brand business had a loss of 3.9 billion yuan ($640 million) in the first nine months of this year. If this is the case, SAIC’s own brand will continue to suffer losses for the eighth year.
As more and more cities impose restrictions on purchases and joint venture brands continue to explore, since September 2013, China's own brands have experienced the most difficult period in history, encountering the unprecedented cruelty of the “12 consecutive fallsâ€. To this end, since October, the third quarter earnings reports that have been disclosed have been “uglyâ€.
FAW Xiali, a self-owned brand affiliated to FAW Group, became a “loss king†with a loss of nearly 700 million yuan, down 600% year-on-year. The FAW sedan, which belongs to the same door, increased its operating income by 15.76% year-on-year, but its net profit fell by 68.37% year-on-year. Jianghuai Automobile is also the same deficit, which is the first loss of Jianghuai Automobile in the past five years.
And BYD, which is starting to run a new energy vehicle, is also facing a decline in profits. The Great Wall, which is known as the “evergreen tree†of its own brand profit, also experienced a decline in profits. The net profit in the third quarter fell by 9.49%. In the case of a decline in profits of many independent brands, Changan Auto only fought back and the net profit increased by 155.23%.
SAIC, which is firmly in the top spot in the domestic auto market, has been losing its own brand for years, which makes investors very dissatisfied. At a conference on shareholder dividends in June this year, an investor frequently attacked the new "double Chen": "As a leading manufacturer of domestic automobiles, if the self-owned brands do not do much, how big is the sales volume? meaning?"
There is a saying in the report of FTä¸æ–‡ç½‘ that its joint venture with General Motors and Volkswagen has been very successful, bringing in a total of 22.3 billion yuan in property income. Let Bernstein Research analyst Robin Zhu can't help but ask: "Why can't SAIC only produce Volkswagen and Chevy?"
According to Sohu Auto data, Shanghai Volkswagen's overall sales volume was 1,262,200 units in January-October 2014, ranking third among all companies, while Shanghai GM's overall sales volume was 1,736,900, ranking first among all companies. . FAW Group's joint venture business, one of the three largest domestic automakers, also earned a lot of money. FAW-Volkswagen's overall sales volume was 1,080,600, ranking fourth among all companies.
As the first automobile companies in China to explore and operate in the field of automobile manufacturing, such as FAW Group, SAIC and Dongfeng Group, their own brand business not only drags the group's profits, but its sales volume is not as good as that of private car companies. In the field of self-owned brands, the top three state-owned car companies occupying the top three in the domestic auto market are hanging upside down, and the last line is lined up.
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