Recently, jiangling motors announced that it intends to sell 60% equity of Taiyuan Jiangling Power Co., Ltd., a wholly-owned subsidiary, at a price of not less than 359,975,438+0,000 yuan through the Shanghai Joint Property Rights Exchange.
After the completion of this transaction, jiangling motors's shareholding in Jiangling Power decreased to 40%.
Regarding the significance of this equity transfer, jiangling motors told Caijing Automobile that the purpose of this transaction is to introduce powerful strategic partners and expand the heavy-duty engine business through the sale of equity.
Bai Yiyang, from the International Research Department of China Merchants Bank, said that large automobile manufacturers such as Geely and SAIC have relations with tier? 1 (a first-class supplier) cooperates to set up a company to jointly develop parts and components. Generally speaking, the introduction of strategic partners is mainly based on increasing capital and shares, and more funds can be obtained. Considering that Taiyuan Jiangling has just been established and the operating data has not been reflected, it is reasonable to adopt the method of agreement transfer this time. However, when car companies cooperate in development, they will choose the mode of holding or joint venture. Like Jiangling, after the completion of the equity sale, it only accounts for 40% of the shares, and its control over Taiyuan Jiangling is weak in the future. There may be several reasons for this: First, the parent company Jiangling needs to recover cash flow and control the pace of fixed capital expenditure in the future. Second, technically, the company hopes to have the support of strategic partners. Jiangling commercial vehicles are still relatively strong, and the market share of pickup trucks is the second, only lower than the Great Wall. In other respects, both Ford Transit and JMC light trucks have achieved double-digit growth, and it is expected that commercial vehicles will continue to maintain sales growth in the future. It remains to be seen whether Jiangling will continue to invest in the development of passenger cars in the future.
Passenger cars in jiangling motors are weak.
Passenger car brands in jiangling motors include Ford brand SUV and Yusheng brand SUV. From the sales data, the sales of passenger cars of the above two brands are not ideal, among which the sales of Ford brand SUV in the first nine months of this year decreased by 22.26% compared with the same period of last year. The data shows that from June 5438 to September, the sales of new cars of Ford brand SUV and Yusheng brand SUV were about 29,200 and 1.223 respectively.
Ford has two joint ventures in China, besides jiangling motors, the other is Chang 'an. Most of Ford's passenger cars have been imported to Changan Ford, and the cooperation with jiangling motors is more in the field of commercial vehicles. cycling
There are only two cars in terms of cars, the large SUV Roadwalker and Ford. Jiangling is not the only company in the world, and Changan Ford's distribution channels can also buy products in the world.
On the other hand, Jiangling Yusheng, the independent product of Jiangling's smash hit, also declined after the domestic SUV dividend fell.
An industry insider said that although jiangling motors caught up with the dividend period of SUV market demand, Yusheng brand SUV developed slowly. Since the brand was born nine years ago, only two SUV models, S350 and S550, have been listed, and the product line is seriously lacking. There is no bright spot in technology. Coupled with the lack of brand power, it is in a difficult situation in the market environment of consumption upgrading.
A senior official in jiangling motors once bluntly pointed out that the plight of the passenger car sector represented by Yusheng brand SUV is mainly due to "slow product development and lack of competitiveness; Brand awareness is not open; The channel combat power has not been opened. "
Want to introduce capital and technology to expand heavy truck business
The data shows that from June to September, the sales of Ford brand commercial vehicles, JMC brand trucks, JMC brand pickup trucks and heavy trucks were 35,400, 87,000, 42,500 and 1.347 million respectively, increasing by 16.65% and 2,876,438+0% respectively.
As the epidemic situation tends to be stable, infrastructure projects in various places resume and begin to accelerate development, and the demand for heavy trucks is increasing.
The data shows that the sales volume of heavy trucks in September was136,000 vehicles, up 63% year-on-year and 4.7% quarter-on-quarter. In the peak season of September, domestic heavy truck sales improved. In 2020, the cumulative sales volume of the heavy truck market from June to September (1.22 million vehicles) has successfully exceeded the annual sales volume of last year (1 1.7 million vehicles).
However, the performance of Jiangling Heavy Truck is not good, and the sales volume from June to September is only 1347 vehicles.
20 18-20 19, the sales volume of heavy trucks in jiangling motors is 1, 5 16, 1 0,080 respectively, and the average monthly sales volume is about 100. In September this year, jiangling motors sold 865,438+0 heavy trucks and 65,438+0,347 vehicles from June to September. Although it increased by 65,438+050.84% compared with last year, it still lags far behind pickup trucks and light trucks.
Ren Wanfu, a senior auto industry analyst, said that commercial vehicles, especially heavy commercial vehicles, have developed well under the stimulus of new infrastructure. For heavy commercial vehicles, the engine is particularly important. Jiangling hopes to introduce capital and technical support to seek a breakthrough in the field of heavy commercial vehicles.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.