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Which car needs to be renamed? CEO: under investigation

2024-05-27 Update From: AutoBeta NAV: AutoBeta > News >


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On April 27th, Zhang Yong, CEO of Nashi Automobile, posted a video on Douyin in response to the renaming of Nashi Automobile. Zhang Yong said that the name of the brand is very good and has a lot of personality, but it doesn't run well. Zhang Yong stressed that renaming is a very big thing in car companies, involving brand registration, declaration, overseas markets and the transition between new and old customers, is a very complex system engineering. And whether the company's brand promotion resources can be supported, all need to be comprehensively considered. Zhang Yong revealed that the company is preparing to conduct research to collect public opinions and decide whether to change the name, as well as the specific direction of the name and the models involved. At the same time, he mentioned the proposal put forward by Zhou Hongyi, the founder of 360 Group, at the Beijing auto show that it could be renamed "Hezhong".

Hezhong New Energy was founded in October 2014, and Naha Automobile is an electric vehicle brand of Hezhong New Energy. Zhang Yong, a former deputy general manager of BAIC New Energy and general manager of the marketing company, was hired as co-founder and CEO, hoping to lead Naga to break out of the world with his deep understanding of the new energy vehicle industry and rich knowledge of brand marketing.

In 2019, Hezhong New Energy ushered in two new shareholders-- Nanning Minsheng New Energy Industry Investment Partnership and Yichun Jinhe Equity Investment Co., Ltd., behind these two shareholders are Nanning SASAC and Yichun SASAC. With the support of SASAC, Naha's prospects are beginning to be optimistic. Later, Nahan received investment from 360 Group, but the cooperation between the two sides was announced to be broken in less than a year. In June, 2022, the Group announced the transfer of 3.53% of the shares of Naga Automobile for 0 yuan, and the transferee has the obligation to pay 1 billion yuan of investment to Naga Automobile. In 2022, 360 Group lost money for the first time, and pointed out in the financial report that the loss was caused by which car.

By 2023, life began to be difficult for Naha, with 127500 new cars delivered for the whole year, down 16.16% from the same period last year, while Nahu set a target of 150000 in 2023 and a sales target of 250000 at the beginning of the year, with a target completion rate of only 51%. By 2024, Nahu's car sales will continue to decline, with sales of 24434 models in the first quarter, only 8 per cent of the annual 300000 sales mission.

With regard to the naming of the car, Zhou Hongyi publicly pointed out that "the letters used in the naming of the car are very strange, which makes consumers feel awkward and can't remember them." In fact, there is some truth in Zhou Hongyi's complaints. at present, which car is launching GT, AYA, S, X, L and other models, although these models are all named after letters, and there are indeed many car companies in the market to do so, but there is no rule in the naming of cars. S, X, L are neither model size nor type, what if they run out of 26 letters?

In fact, it is highly probable that Nahu will not change its name. as Zhang Yong said, it will not only change a name, but the industrial chain in the upper, middle and lower reaches of the car, which involves issues such as brand reshaping, market strategy adjustment and resource investment. it requires careful planning and steady progress, as well as a lot of financial support. In this process, it is necessary to think deeply about how to balance the brand image and market benefit, and how to position accurately in the fierce market competition. Zhang Yong's remarks are undoubtedly an important exploration of Naha Automobile on the road of development, and the results deserve the continuous attention of the industry and investors.

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