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Three senior executives take office! Official announcement of SAIC Group

2024-04-22 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/03 Report--

SAIC ushered in a major personnel adjustment. On December 22nd, SAIC announced the appointment of three vice presidents: Jia Jianxu, general manager of SAIC-Volkswagen; Jiang Jun, CEO of Zhiji Automobile; and Wu Bingsheng, general manager of SAIC passenger car branch and CEO of Feifan Automobile, as vice president of SAIC.

According to public data, Jia Jianxu, 45, was born in 1978 and is currently general manager and deputy secretary of the party committee of SAIC-Volkswagen Motor Co., Ltd. In February this year, SAIC Volkswagen announced that Chen Xianzhang would be transferred to SAIC Group Deputy Chief Economist and Deputy Director of the Technical Committee, and would no longer serve as SAIC Volkswagen General Manager. Jia Jianxu, former General Manager of Yanfeng Automobile Accessories system Co., Ltd., would take over the post of SAIC Volkswagen General Manager. In other words, in less than a year, Jia Jianxu was promoted to vice president of the group again.

Jiang Jun and Wu Bing are also post-70s. The former was born in 1970 and the latter in 1976. Judging from their work experience, both of them have worked in SAIC for many years. Among them, Jiang Jun is currently CEO; of Zhiji Automotive Technology Co., Ltd. Wu Bing is currently General Manager of passenger car Branch of Shanghai Automotive Group Co., Ltd., and CEO of Feifan Automotive Technology Co., Ltd.

According to SAIC's website, SAIC has five vice presidents, namely Zhou Langhui, Lan Qingsong, Wei Yong, Zu Xijie and Yang Xiaodong. Among them, Zhou Langhui, Wei Yong and Yang Xiaodong are all post-70s. The three vice presidents employed by SAIC are all post-70s, which also means that SAIC's management team will be younger. As of press time, SAIC's official website has not yet updated the latest personnel changes.

The main vehicle enterprises owned by SAIC Group include Zhiji Automobile, SAIC passenger car Branch, Feifan Automobile, SAIC Volkswagen, SAIC General Motors, SAIC GM Wuling, SAIC Chase, Nanjing Iveco, SAIC Light truck, Shanghai Shenwo and so on. According to the data, SAIC's annual sales volume in 2022 was 5.3026 million vehicles, down 2.94% from the same period last year, marking its fourth consecutive year of negative growth. SAIC Volkswagen and SAIC General Motors both showed declining trends to varying degrees in their two major profits, SAIC Volkswagen and SAIC GM. Retail sales of SAIC Volkswagen and SAIC GM were 1.2435 million and 1.0368 million respectively in 2022, according to retail data. It fell 14.7% and 18.8% respectively from the same period last year.

After entering 2023, SAIC's sales did not improve due to the price war in the car market and other factors. The latest figures show that SAIC sold 4.3839 million vehicles from January to November, down 8.02 per cent from a year earlier. According to the plan, SAIC's annual sales are currently 6 million vehicles in 2023, which means SAIC may not be able to meet its annual sales target. The industry believes that SAIC's weak sales are closely related to the decline of joint venture brands, with SAIC Volkswagen down 10.59% and SAIC GM Wuling down 14.58%.

In terms of new energy, SAIC has two major new energy brands, Zhiji and Feifan, and as the heads of Zhiji and Feifan, Jiang Jun and Wu Bing naturally bear the important task of electrified transformation of SAIC's own brands, but according to the data, these two brands have not yet gained a firm foothold in the middle and high-end new energy market. Data show that SAIC's cumulative sales of new energy vehicles from January to November were 903600, down 2.87 per cent from a year earlier. Among them, the cumulative sales of Zhiji cars is 27800, although there is a sharp increase of 512.56% compared with the same period last year, but there is still a large gap compared with the current mainstream new energy brands.

Under the pressure of sales, SAIC is also facing a lot of pressure in terms of financial results. According to the financial report, SAIC's net profit fell 9.82% in the third quarter of this year; its operating revenue was 196.787 billion yuan, down 6.92% from the same period last year; and its mother's net profit was 4.322 billion yuan, down 24.69% from the same period last year. The total revenue of the company in the first three quarters of this year was 523.342 billion yuan, down 0.77% from the same period last year, while the net profit was 11.407 billion yuan, down 9.82% from the same period last year.

At present, SAIC is in a critical stage of electric transformation. according to the "three-year Action Plan for the Development of New Energy vehicles" released by SAIC at the Shanghai Auto Show this year, SAIC will sell 3.5 million new energy vehicles annually by 2025. Among them, independent brands will account for 70% of the total sales of new energy vehicles. From the current analysis, although SAIC has invested a lot of resources in Zhiji and Feifan brands, there is still a long way to go to achieve blood recovery.

In the face of the current "reshuffle" of the global automobile industry, SAIC is in urgent need of more effective work to help it restore its development vitality. Chen Hong, chairman of SAIC, said bluntly that he hoped SAIC's leadership would inject new blood and make the management team younger. As for what kind of innovation SAIC will have after this personnel adjustment, we will wait and see.

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