The announcement of the pre-loss of performance in the first quarter of 2022 released by Jianghuai Automobile once again exposed the current dangerous situation of this veteran car company.
According to the announcement, the gross profit of Jianghuai Automobile's main business in the first quarter of this year decreased by about 418 million yuan compared with the same period last year, and the net profit attributable to the shareholders of the listed company is expected to be a loss of about 307 million yuan. Last year's net profit was only about 200 million yuan. It can be said that the loss of Jianghuai Automobile in the first quarter of this year is not enough to put the money earned last year into it.
For the loss in the first quarter, the explanation given by Jianghuai Automobile is that "due to the impact of the epidemic and chip shortage, production and sales have been frustrated." At the same time, the serious loss also has a lot to do with the rise in the price of raw materials such as chips and batteries. ”
In the first quarter of this year, basically all car companies suffered from this "big environment", the difference is that many car companies have survived and the market performance is excellent. According to the first quarter automobile production and sales data released by the China Automobile Association, the national automobile production and sales were 6.484 million units and 6.509 million units, respectively, showing an upward trend.
Although Jianghuai Automobile performed poorly in the first quarter, it can be used to pass the circle with insufficient anti-risk ability. But this is undoubtedly an act of covering the ears and stealing the bell, because Jianghuai Automobile has a "root of the disease". Since 2017, Jianghuai Automobile has deducted non-net profit losses for five consecutive years, with a total loss of more than 6 billion yuan. Freezing three feet is not a day's cold, and the decline and inadequacy of Jianghuai Automobile have been exposed many years ago.
Jianghuai Automobile, which has made great achievements in trucks, especially heavy trucks, has always adhered to the strategy of "business and ride", but it has never been able to reverse the situation of "strong business taking advantage of weak". Here, regarding JAC's performance in the field of commercial vehicles, I will not press the table for the time being. Let's focus on what "mistakes" it made in the passenger car market, resulting in the status quo of "going early in the morning, but not even catching up with the set".
Jianghuai Automobile was founded in 1964, according to the generations, hanging a number of independent brands. Unfortunately, in this era of strength, the qualifications of Jianghuai Automobile have not brought substantial help to it. The rise of the domestic SUV wave has made many independent brands rise rapidly. With a sensitive sense of market smell, Jianghuai Automobile also quickly caught up with this wave of wind, launched SUV models such as Ruifeng S2 and Ruifeng S3, and its monthly sales have also exceeded 10,000.
Unfortunately, due to the procrastination of products to promote new generations, as well as the product strength of changing soups without changing medicines, the single function in the face of competitors at the same level has made JAC lose its competitiveness in the SUV market. At this time, as long as JAC launches a new product to prove itself, it can still get a place in the SUV market. Unfortunately, at that time, Jianghuai Automobile has been trapped in the car-making thinking of "commercial vehicle practicality". At the same time as sales declined, various quality problems also followed, so that jacques's reputation in the passenger car market was gone.
Later, the arrival of new energy set off a major change in the automobile market that had not been seen in a hundred years. Jachuai also wants to take advantage of this to break the current deadlock, so it launched the iEV series of new energy models, which did catch up with a wave of market dividends in the early stage of the outlet. Unfortunately, due to the singleness of product types and the low price, it was quickly buried in the rise of new car-making forces. Now think about it, if Jianghuai Automobile can persist until the arrival of Hongguang MINIEV, is it another different scene?
Jianghuai Automobile will shift the focus of its work in the new energy market, in addition to its own product strength, it also has a lot to do with Weilai and Volkswagen. The rise of Weilai Automobile, a new car-making force, has also made Jianghuai Automobile, as a foundry, live a moist life. Last year, Jianghuai Automobile's cumulative sales of pure electric passenger cars totaled 134,000 units, of which about 93,000 units were sold by Weilai Automobile OEM. Although it has opened the model of "lying flat and making money", it has also made the barometer of Jianghuai's sales deeply affected by Weilai, such as suspension of production and sales decline.
The Sihao brand launched with Volkswagen did not meet the ideal expected by JAC. The first model, the Sihao X8, sold only 27,700 units last year. Si Hao, who can't support the fuel market dream, so he turned to the new energy vehicle market, and successively launched several electric vehicle models, but unfortunately there is only one micro electric vehicle Si Hao E10X, with a low price and the blessing of the Volkswagen aura, the market sales are maintained at about 4,000 vehicles. However, the good market performance of Sihao E10X is undoubtedly to make the image of Sihao brand decline, and in the long run, it is not worth the loss.
It is said that "poor think of change", but when Jianghuai Automobile is down, the first thing that comes to mind is not to work hard, but to look around for a thigh hug. Pinning hopes on others is undoubtedly an act of active becoming passive. This "parasitic" relationship does not have problems in the development stage, but once there is a conflict of interest or strategic disagreement, the weaker party is often ruthlessly abandoned.
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