After discount after discount, Beijing Hyundai Chongqing factory finally sold out!
According to the announcement of Beijing Property Rights Exchange, the project name "Land use right, above-ground buildings (structures) and related equipment and other assets at No.18 Modern Avenue, Yuzui Town, Chongqing City, Jiangbei District" completed the transaction half a year later. The transfer evaluation value was 3.684 billion yuan, and the transaction price was 1.620 billion yuan, which was 2.064 billion yuan lower than the initial transfer base price.
In August 2023, Chongqing Branch of Beijing Hyundai Motor Co., Ltd. listed and transferred Chongqing factory on Beijing Property Rights Exchange, with the transfer base price of RMB 3.684 billion yuan. Beijing Hyundai Chongqing Factory is located at No.18, Modern Avenue, Yuzui Town, Jiangbei District, Chongqing City, covering an area of 1.872 million square meters. The total investment of the factory is RMB 6.223 billion yuan. It is the fifth complete vehicle manufacturing factory built by Hyundai Automobile in China. It was officially completed and put into operation in August 2017 with an annual production capacity of 300,000 vehicles. The models put into production are Rena, Oncino, Festa and ix25 models. However, the sale of Beijing Hyundai Chongqing factory is not smooth, because after the disclosure period is still no offer, Beijing Hyundai Chongqing branch repeatedly lowered the transfer price, from the initial 3.684 billion yuan, to the final deal of 1.620 billion yuan, equivalent to a 40% discount sale.
In 2016, Beijing Hyundai sold 1.142 million vehicles in the whole year, ranking sixth among domestic automobile manufacturers. In order to match the continuously rising market sales volume, Hyundai began to accelerate the construction of factories in China to meet the market demand, including Beijing Shunyi Factory No.1, Factory No.2, Factory No.3, Hebei Cangzhou Factory and Chongqing Factory, with an annual output of 1.65 million vehicles. Chongqing Factory was completed at the peak of Beijing Hyundai, which is the latest and most advanced among the five factories. One.
Since 2017, Beijing Hyundai sales began to decline, and the bitter fruit of radical expansion of production capacity was finally borne by Beijing Hyundai. Factory No.1 and Factory No.2 located in Shunyi, Beijing began to stop production for six consecutive years since 2019. Later, Ideal Automobile took over Beijing Shunyi Factory No.1, while Cangzhou Factory located in Hebei Province also continued to report the news of shutdown. According to Beijing Hyundai's official website, only one of the five factories that once drove Beijing Hyundai's sales of millions is left for visitors.
In addition to capacity cuts, Beijing Hyundai's product camp will shrink in the future, and many models will face production suspension. According to the official website, Beijing Hyundai currently sells 9 models, but except for Elantra, sales of other models are relatively average, compared with the same level of joint venture models. According to official data, Beijing Hyundai sold 257,000 new cars in 2023, up 2.8 percent year-on-year, with the highest sales of Elantra at 108,700, ix35 and Tusheng at 43,600 and 53,000 respectively. It is understood that Beijing Hyundai will launch the eleventh generation Sonata and the fifth generation Shengda within this year. The tenth generation Sonata will be launched in July 2020. Due to the low sales volume, the eleventh generation Sonata will continue to adopt the power combination selection of 1.5T engine +7DCT dual clutch gearbox and 2.0T engine +8AT gearbox, and continue to compete with Camry, Accord, Teana, Passat and other models.
The golden age of joint-venture brands is fading, and this general trend of "ebb tide" will only become more and more obvious. From the perspective of the general environment of China's auto market, Beijing Hyundai is not alone. Before this, Suzuki, Acura, Jeep, DS and other successive defeats, these once witnessed the popularity of Chinese family cars of the old brands, now also have sadly left, even the top giants Toyota, Volkswagen and so on also feel the enormous pressure of the Chinese market, whether Toyota bZ or Volkswagen ID series in the Chinese market presence sense is also very limited, compared with Chinese brands attention is not at all an order of magnitude.
Looking at the current joint venture market, more and more old brands are squeezed to the edge of the market, Mazda, Citroen, Peugeot, Skoda and other brands are not optimistic. In 2023, GAC Mitsubishi announced the termination of domestic production, becoming another Japanese brand after the fall of Acura.
A brand is forced to withdraw from the Chinese market. In the final analysis, it is because the comprehensive competitiveness including brand, product, technology, marketing and service falls below the critical point. In the especially competitive new energy automobile market, at least for now, the joint venture brand still lacks "beatable" products. In the era of smart cars, the characteristics of software-defined cars make the technical iteration of models faster and faster, and the three-year and five-year replacement has become a thing of the past, which means that joint venture brands must catch up at a faster pace to have hope of turning over.
Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat
Global auto giant Stellantis Group has been exploring the possibility of working with Chinese electric carmakers, including zero cars, according to people familiar with the matter. In October of the same year, Stellantis Group spent 1.5 billion euros (about 11.5 billion yuan)
According to the National Enterprise bankruptcy reorganization case Information Network, upon the application of Weima Automotive Technology Group Co., Ltd. (hereinafter referred to as "Weima Technology Group"), the Shanghai No. 3 Intermediate people's Court issued (2023) Shanghai 03 Breaking No. 1041 Civil order on December 29th, 2023, and ruled to accept Weimake.
A few days ago, a number of auto bloggers revealed pictures that a domestic car factory is full of Civic Type R inventory cars, the appearance of the basic color matching is supersonic gray and champion white, in addition mixed with one or two rally red. It is rumored that due to the poor sales of Civic TYPE R, the car has been in the end market.
A few days ago, a letter from SAIC GM Wuling Motor Co., Ltd. on the adjustment of general manager and executive committee members showed that after discussion by the party committee of Shanghai Automobile Group Co., Ltd., the president agreed: Shenyang will no longer hold the post of general manager of SAIC GM Wuling Automobile Co., Ltd., recommending Lu Jun to become SAIC GM Wuling Motor.
Porsche doesn't smell good in China? 2023 ends with negative growth again! A few days ago, Porsche released the latest sales figures, showing that Porsche sold 320221 vehicles worldwide in 2023, an increase of 3% over the same period last year, of which the total delivery volume in China was 79283, although it is still the largest in the world.
"Automotive Industry concern" looked at the information from the sky. On October 7, Redding Automobile Group Co., Ltd. (hereinafter referred to as "Reading Automobile") added four pieces of information about the person subject to execution, with more than 28.92 million yuan as the subject matter of execution, and the enforcement courts are all Changle County people's Court. According to the data, Reading Automobile Group Co., Ltd. was established in 20.
With the rapid development of China's economy, people's living conditions are becoming more and more, and many families have put buying a car on the agenda. The compact car is also the best choice, and now the compact market is also one of the most selective and competitive markets. For the new Xuanyi, there are also a large number of competitors. Japanese competitors have Carola and Civic; German rivals, Lang Yi and Bora have always been top players; as for the American side, Kruze and Ying Lang also give urgent pressure, it can be seen that these best-selling models have been upgraded and replaced, while the current Xuanyi products are not competitive enough to complete the replacement products.
A few days ago, an email from a bank investigating the bankruptcy risks of Cheetah, Zhongtai, Huatai and Lifan went viral on the Internet, causing a lot of attention. According to the content it provides, each management team needs to conduct a risk check on whether the stock customers are involved in the upstream and downstream industrial chains of four automobile companies, namely, Cheetah, Zhongtai, Huatai and Lifan. The main reason for the risk investigation of the four auto companies is that "according to media reports, Cheetah, Zhongtai, Huatai and Lifan will enter bankruptcy proceedings at the end of the year. It is estimated that the industrial chain involving upstream and downstream auto parts suppliers will total about 50 billion.
After the official implementation of national six, almost all dealers are clearing and selling national five cars, although the inventory pressure of national five has dropped, but there are still many national five vehicles have not been sold, then how to deal with these leftover national five vehicles? The six-year policy of transfer sales has not been formally implemented in some second-and third-tier cities or even slightly remote areas, and these cities are still implemented in accordance with the national five standards, and it is not in conflict with the policy for dealers to transfer the remaining national five vehicles to these areas, and the loss of such transfer sales is the least. Whether the replacement parts of the car meets the sixth national standard mainly depends on the vehicle engine or ternary catalysis, while the other zero.
"when it was on, it stopped running, the fault lights were all on, and the rear car almost hit," said the BAIC new energy vehicle driven by a car-hailing owner. According to the owner, when he was driving at high speed on the viaduct and the speed reached 70km/h, the whole car suddenly failed and stopped moving directly, which was very dangerous. The owner of the ride-hailing car still has lingering fears when he recalled the failure of the vehicle at that time. He said that after the failure of the vehicle, how to step on it, slowly walk before stopping on the side of the road, 4S store after-sales test said it was a problem with the water pump. He was very angry, "(4s store) told me that the weather was too hot, water pump."