Statement: Original is not easy, it is forbidden to carry, violators must be investigated!
Another domestic car company lost
For car companies, the market competitiveness they have to face is very fierce. Nowadays, new energy vehicles have begun to rise, and many people have also begun to enter the field of new energy vehicles, Apple, Xiaomi, Baidu, and Gree. These are just companies that have just entered the market, and there are still many car companies in the automotive field that are seizing the market.
Survival of the fittest, elimination of the fittest. In the auto market, it is also inevitable to stage such a scene, and there are many domestic car companies that have even withdrawn from the auto market in the face of difficulties, such as Cheetah, Lifan, Zotye, Hanteng and so on. Now another domestic car company has failed, that is Brilliance Auto.
Today's Brilliance Automobile can be said to be a chicken feather, and the former chairman is also in prison. Brilliance Group finally could not hold back, and in the past two years, there have often been negative news from Brilliance Auto. In 2019, the former chairman Qi Yumin officially stepped down from his position at Brilliance Auto.
In November 2020, Brilliance Auto announced that it had constituted a debt default amount of up to 6.5 billion yuan, and the accumulated overdue interest alone reached 144 million yuan. This is not a small amount, and it has also had a certain impact on Brilliance Auto. As early as last year, Brilliance had already announced the news of bankruptcy reorganization.
The former Brilliance Car is also famous and has unlimited scenery. But now it has failed, and even the brand it founded can only give in to itself to save itself. I have to let people sigh, such a domestic car company, now the cumulative debt of up to 61.984 billion yuan, huge debt pressure, can it still break the situation?
What happened to Brilliance Auto?
In October 1992, Brilliance was officially listed on the U.S. stock market, which was an important milestone for Brilliance and was the first Chinese company on Wall Street to be listed.
After the listing, Brilliance's development has also been faster, and it has obtained a lot of financing. After working with Toyota, the Jinbei Hiace SY648 was jointly launched. After entering the market, it was also quickly favored by consumers. With its affordable price and outstanding performance, sales in the first year were close to 10,000 units, and then it became popular in the market.
By 2000, annual sales exceeded 100,000 units. At the same time, in this year, the "Zhonghua" brand car was successfully launched. At this time, Brilliance can be said to be smooth sailing, and in 2001, Brilliance and BMW Automobile also officially established the company.
In the process of continuous development, Brilliance has also won a number of brands, and profits are also rising. For example, Zhonghua Car, BMW Brilliance, Jinbei Bus, Jinbei GM, Sanjiang Renault and so on. To say that 2004 is a watershed year for Brilliance, because the sales of Brilliance Group's brands have dropped significantly, and profits have also fallen significantly.
At this time, in order to cope with the current situation, Qi Yumin also started a "price war", plus loans, to turn the tide, but also to save brilliance group. In order to be able to get BMW's technical and financial support, Qi Yumin gave up BMW Brilliance's sales channels and financial authority, and eventually exchanged it for the weakness of Brilliance Auto.
According to statistics, in 2018, BMW Brilliance had a net profit of 6.2 billion yuan, while Brilliance Auto's net profit was only 5.8 billion yuan. And if Brilliance Auto subtracts bmw brilliance profits, it is actually a loss.
Write at the end
From a well-known state-owned car company to today's high debt, it is not difficult to find that Brilliance has repeatedly sought cooperation in the process of development and established cooperative relations with other brands. However, it ignores the core technology, a car company should also master a certain core technology, but also pay attention to research and development.