Borgward
Do riders remember the BBBA? BMW and Volvo co-built car?
Borgward, a German luxury brand that claims to be on a par with Audi, BMW and Mercedes-Benz, declared bankruptcy on November 29, 2022, and Borgward was originally Foton's pawn in opening the passenger car market, but it caused a cumulative loss of more than 4 billion yuan in three years, and then sold into Shenzhou Department less than 3 years before the factory stopped work and finally filed for bankruptcy; Recently, more than 100,000 Borgward gearboxes were auctioned and on the hot search...
Borgward auctioned more than 100,000 gearboxes
GAC Fiat Chrysler Automobile
In July 2022, GAC and Stellantis Group jointly announced that they had decided to terminate GAC Fiat Chrysler Automobiles (GAC FCA), a joint venture, and at the end of November 2022, the court ruled that GAC FCA was insolvent and bankrupt and liquidated.
In the 12 years since its establishment, GAC FCA has put into production a number of Jeep brand SUV models such as "Free Light" and "Guide", with peak sales of 179,900 units in 2016, and then declined year after year... In the end, he chose to leave very ungracefully announced, leaving behind dealers, employees and car owners who struggled to defend their rights.
"The Hunting Ground" A still from the TV series Free Light
GAC Acura
Compared with the first two, GAC Acura is less famous, and the peak sales of the Acura brand in China was 16,300 units in 2017, and sales were difficult in other years.
In April 2022, GAC Acura officially announced that GAC Honda will no longer produce and sell GAC Acura brand products after 2023; It indicates that the GAC Acura brand, which has entered China for 16 years, will officially disappear, and its official website will not be opened after New Year's Day 2023, after all, the market influence is general, and it has not attracted much attention.
Cheetah cars
In 2020, when the author took stock of bankrupt car companies, Cheetah Motors was on the list; In May 2022, the court ruled to carry out bankruptcy reorganization of Cheetah Automobile, officially declaring that the brand, which has been established for more than 50 years, is finally fixed in 2022.
Cheetah is a car company that started with the military industry, and has brought a number of star products such as "Cheetah Black Kong" and "Cheetah Soldier", and sales of Cheetah cars reached 135,000 units in 2017 at its peak.
Freelance Car (Mars Stone Technology)
At the end of the year, Mars Stone Technology was exposed to bankruptcy, and then announced the death of mass production with a "letter to NV users" released by Mahayana Automobile, confirming the situation of the free family's car.
Ziyoujia is a brand cooperated by Niu Chuang (Mars Stone Technology) and Mahayana, but Mahayana Auto has long been in debt and has stopped production for more than 2 years; The industry policy is that new energy vehicle companies that have stopped production for more than 24 months need to be reviewed by the Ministry of Industry and Information Technology for reproduction, but the free family car was finally stuck in the qualification and fell the night before mass production, which is really regrettable.
Dongfeng Yueda Kia
At the end of 2021, Dongfeng Group announced its withdrawal from Dongfeng Yueda Kia, and its 25% equity was transferred for 297 million yuan, and the Dongfeng Yueda Kia brand officially disappeared, replaced by Jiangsu Yueda Kia Motors.
The Kia brand's performance in China has been very ugly in recent years, with sales declining year after year, with sales in China in 2020 and 163,400 units in 2021 and about 80,000 units in 2022, and it was rumored to be insolvent at the end of the year. It is worth mentioning that Kia Motors will sell 2.9 million units globally in 2022, and it is still popular abroad.
Singularity car
In July 2022, due to arrears in supplier cooperation payments, the parent company of Singularity Auto was applied for compulsory bankruptcy reorganization, and although it was not declared bankrupt, it was already standing under the dangerous wall.
Singularity Automobile, NIO and Xpeng were founded in 2014 and released their first SUV at the end of 2017, more than a year before the ideal ONE; But the situation at this time is very different, now Wei Xiaoli is the representative of new forces, synonymous with new energy, but Singularity Auto is still not mass-produced in 2022, and it is appropriate to describe it in the author's hometown "get up early, catch up late".
Shenyang Jinbei vehicles
The bankruptcy application of Shenyang Jinbei Vehicle Manufacturing Co., Ltd. was approved by the Shenyang Intermediate People's Court on December 30, 2022, and the restructuring process was officially started
Shenyang Jinbei is one of the main manufacturers of Brilliance Jinbei Automobile Co., Ltd., mainly producing pickup trucks, vans, light trucks, etc., its controlling shareholder Brilliance Group is still in bankruptcy restructuring, it is worth mentioning that Brilliance's joint venture BMW Brilliance has not been affected at all, with sales of more than 790,000 units in 2022.
Jinhua Youth Auto
The so-called "add water to run" youth car once caused a sensation, but its main car-making entity, Jinhua Youth Automobile Manufacturing Co., Ltd., related assets were auctioned.
However, the auction did not go well, and some assets will be auctioned for a second time with a lower starting price; Youth Auto was once the "leader" of China's luxury bus market, and after entering the passenger car market in 2004, many projects were completed, and in 2013, the base began to stop production and work, and owed employees wages.
LVCHI Auto
On May 17, 2022, LVCHI Automotive Technology Group was revoked its business license by the Shanghai Qingpu District Market Supervision Administration, withdrawing from the historical stage in a very strange way.
Founded in 2016, LVCHI Auto claims to have raised 10 billion yuan and is committed to building China's top pure electric supercar... In fact, as early as 2020, LVCHI Auto was exposed to wage arrears, and the company was paralyzed.