After brilliance's bankruptcy, its own brand manufacturers sold cars directly, and the prices of inventory cars dropped

China-News - Finance November 27, 2020, 5:32 pm Thunderbolt's avatar Thunderbolt

After brilliance Automobile Group Holding Co., Ltd. (hereinafter referred to as "brilliance auto") entered into bankruptcy proceedings, its independent plate was in turmoil.

This is different from that of BMW on the same side of the street. On November 25, the first finance and economics reporter found in the investigation that for some products of brilliance's independent plate, manufacturers have begun to sell cars directly, which is different from the mode of selling cars by 4S stores for many automobile brands.

Selling cars directly

The reporter saw from the scene that several Chinese models were displayed outside the Shenyang Brilliance Jinbei Automobile Sales Co., Ltd., and a large billboard with the words "brilliance manufacturer direct marketing" was erected at the door. Shenyang Huachen Jinbei Automobile Sales Co., Ltd. also stands outside the door in the form of billboards. Its business scope includes wholesale and retail of complete vehicles, replacement of second-hand cars, car rental, wholesale and retail of auto parts and insurance agency.

"We sell Zhonghua automobile, as well as Jinbei and Huasong models. Zhonghua, Jinbei and Huasong are all brands of brilliance automobile group. " Li Zheng (pseudonym), a person from Shenyang Brilliance Jinbei Automobile Sales Co., Ltd., told reporters that if customers buy more, they can go directly to the car warehouse to see the car.

Li Zheng told reporters that at present, there are three Chinese models on sale, including Zhonghua h530, Zhonghua V3 and Zhonghua V7, as well as some golden cup models. Among them, the price of Zhonghua V3 is 49800 yuan, and that of Zhonghua V7 is 117000 yuan. "China V3 only has manual transmission, and the automatic gear is sold out. China V3 was produced in September 2020, and V7 models will be produced from 2018 to 2019. " Li Zheng said that Huasong's price is the most suitable, with the original price of 200000 yuan and the current price of 105000 yuan. However, Huasong's two models of cars have been sold out.

"All the models on sale are in stock. The retail and wholesale prices are different, so it can be cheaper to buy more. There is basically no warranty for inventory vehicles, only Zhonghua V3 has warranty. " Li Zheng told reporters that in China's brands, in addition to China V3, other models are of national five standards. At present, there are more than 40 vehicles left in China V3 and more than 100 vehicles in v7.

In addition, the reporter saw in China automobile sales company that many vehicles were parked outside the office building of the enterprise. There is a warehouse in the area where the claim parts of gold cup products are stored. "Zhonghua's employees are no longer here. They moved out last year." An employee at the scene told reporters that it is now the people from brilliance Renault Gold Cup who are working here.

China's auto sales slump

"China owes our company money, about three or four years ago, Zhonghua has not settled the money on time. Our company's people always go to China to ask for money. It's very difficult to ask for money after the sales volume of China V3 has declined. " A Chinese brand supplier staff (Wang Xia) told reporters. Not long ago, Wang Xia left the company. He told reporters that due to the problems of China and other brands, the business in some regions of the company was affected.

And brilliance automobile entered the bankruptcy reorganization procedure this time, which was applied by brilliance Automobile Technology Co., Ltd., the supplier of brilliance automobile, to Shenyang intermediate people's Court of Liaoning Province. Gehuachen Automobile Co., Ltd. can not pay off all debts due to restructuring, and it is of high value.

At present, Brilliance China Automobile Company is silent. An employee of brilliance Department told the reporter that many employees of Brilliance China no longer come to work. At present, they are paying some basic wages. "Since the outbreak, the working hours of employees in China have been reduced, sometimes in three or five days." The staff told reporters. Li jiejie told reporters that since the epidemic, China has basically not produced much. In addition, some employees told reporters that China's development was not good. When brilliance Renault gold cup joint venture, some Chinese employees were diverted.

As early as 2000, the first generation of Zhonghua automobile was offline. Subsequently, Zhonghua zunchi, Zhonghua Junjie, Zhonghua h530, Zhonghua V5, Zhonghua V3 and Zhonghua V7 were listed on the market. Zhonghua cars once occupied a place in China's automobile market. At present, more than ten models of its two major series of cars and SUVs are still displayed on the official website of Brilliance China. However, only China V3, Zhonghua V6 and Zhonghua V7 are on sale in Brilliance China, and their sales are dismal. According to the data of the Travel Association, the sales volume of Brilliance China was zero in July this year.

The weakness of independent plate represented by Chinese brands is an important reason why brilliance automobile is in a dilemma. In the past few years, brilliance automobile has made large-scale investment in its own sector, but it has not brought corresponding return on investment. Among them, the m8x modular platform for the development of independent brands is an example. The platform is jointly developed by brilliance automobile, BMW and Magna, with a cost of 3.6 billion yuan, and is the key research and development object of brilliance automobile. China V7 is the first model produced on this platform, and was regarded as the highest level of brilliance auto's own brand products at the beginning of its launch. At present, the sales volume of V7 in China is poor.

For many years, brilliance auto's profit mainly comes from brilliance BMW, and the profitability of its own plate is weak. According to the financial report released by Brilliance China (01114. HK), in the first half of this year, revenue of Brilliance China reached 1.45 billion yuan, a year-on-year decrease of 23.85%, and net profit of 4.045 billion yuan, an increase of 25.24%. If the profit share from BMW Brilliance is removed, the total loss of Brilliance China will reach 340 million yuan.

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