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- Chief Business Intelligence
- Chief Business Intelligence
Introduction: "Ice and Fire"! Here, the traditional car companies went bankrupt and auctioned 1.9 billion yuan and no one bought it, and CATL, which has a total market value of more than 800 billion yuan, earned 126 million yuan a day.
With the rise in oil prices, the low-cost attributes of new energy vehicles have become a new outlet.
According to CCTV Finance, as early as 3 years ago, the output of new energy vehicles in one month has reached 397,000, and the sales volume has reached an astonishing 383,000.
This series of figures not only shows the astonishing development speed of new energy vehicles, but also means that the traditional automotive industry is undergoing unprecedented changes and reshuffles.
Even Honda, Volkswagen, Volvo and other car companies have announced their own timetable for stopping the sale of fuel vehicles as early as a few years ago, while brands such as Bentley and Maserati have released plans to stop selling fuel vehicles, and it is expected that they will be gradually replaced by electric vehicles from 2022 to 2025.
And GAC FCA, a former traditional car company, also ushered in its first auction. As a pioneer standing on the cusp of the new energy era, CATL has also ushered in its own highlight moment.
It couldn't be sold, and GAC FCA collapsed
"Cheap sale" 1.9 billion is difficult to find a pick-up man
Recently, GAC Fiat Chrysler Automobiles Co., Ltd. (hereinafter referred to as GAC FCA), which was co-founded by GAC Group and foreign investors in 2010, has entered the auction process, which is the first auction of GAC FCA's own factories since it filed for bankruptcy in 2022.
But surprisingly, the auction was not as hot as expected, but fell into a cold situation.
In fact, if you want to go deeper, you will understand that this is not unexpected, because in the changing situation of the automotive industry, the fate of GAC FCA is only a microcosm of many twists and turns. The matter of bankruptcy liquidation is not surprising.
But I have to say that since the introduction of Jeep in 2015, the star series such as Liberty Light, Liberty Man, Compass, and Grand Commander have been making great progress since they were localized.
In 2017, it hit the peak of sales, with a cumulative sales of more than 400,000 SUVs, an astonishing sales rate, and a brilliant generation of car companies, it is really regrettable that today it can be mixed into this tragic situation that no one wants in the auction industry.
And judging from the content of this auction, the starting price of 1.9 billion yuan can be said to be an unreserved "buy one get more". In addition to the 700,000 square meters of land use rights of the factory, there are also 19 buildings with real estate certificates.
In addition, there are various production machinery and equipment of the factory, including some of the best semi-automatic equipment in China, including Germany's advanced high-speed stamping line, spraying system, etc.
But even so, this time the auction ended in failure because there were no bids. According to the information released by the auction platform, the price of the next auction will be reduced to 1.5 billion, and the first auction price will be directly "cut away from 400 million".
I have to say that this auction is not only reminiscent of the year when GAC FCA was about to go bankrupt and shut down.
At that time, GAC FCA had entered the embarrassing situation of "eating zero duck eggs" or not making a profit but losing money for several months, and GAC FCA, which was originally valued at about 7.3 billion yuan at that time, had a total debt asset of about 8.1 billion yuan in 2020.
Source:
Huge debts and dismal performance eventually led to a generation of car companies falling off the altar and being bankrupt and liquidated.
The era of "crazy" car companies will retreat if they do not advance
In the end, it ended up in the tragic situation of "the gods fight, and the little ghosts suffer".
Although this is the first auction of GAC FCA's production base in Changsha, in fact, except for this production base.
As early as the first year after the bankruptcy, the production base in Guangzhou was put on hold by Fiat Group (a foreign company jointly owned by GAC Group in 2010 and later renamed Fiat Chrysler Group), and the main production equipment has been transferred to the Changsha plant.
It was not until it was taken over by GAC Aion that the production base in Guangzhou began to be used for the production of pure electric vehicles. Such a change of ownership can be said to be the epitome of the changing times.
Looking back on the glorious history of GAC FCA, it can be said that it is a true portrayal of success and defeat and Xiao He, because Jeep, which once brought glory to GAC FCA, was named by the "3 · 15 party" because of the problem of "burning engine oil", and then "dragged" GAC FCA off the altar.
In addition, the sales of joint venture brands such as Dongfeng Yulon, Dongfeng Renault, and Changan Peugeot Citroen began to decline, and GAC FCA took just 5 years to go from the peak in 2017 to the bankruptcy in 2022.
And in the past few years, it is also the era of "fairy fights, little ghosts suffer" car companies. In the face of fierce competition in the automobile market, it seems that it is really "impossible to survive" without involution.
The picture shows the "burning oil" problem exposed by CCTV 3 · 15
The exit liquidation of GAC FCA, which still can't be sold for 1.9 billion, has to cause the old problem again, that is, the traditional fuel vehicles cannot be sold, and the embarrassing situation of the overall overcapacity of some idle factories of fuel vehicles.
These surplus factories were either sold or transformed, and most bluntly, even Beijing Hyundai's Shunyi factory had been taken over by Li Auto earlier. According to media reports, Li Auto will also invest 6 billion yuan to build a new production base, which will become a new factory integrating vehicle and parts manufacturing.
In addition, there are also Borgward, Changan Peugeot Citroen, Foton Motor and other brands of factories that are either waiting to be sold or have been upgraded.
Therefore, GAC FCA's second price reduction auction is only afraid that there will be more twists and turns. But there is also an old saying that "a whale falls, everything is born", and it is the most normal thing for some people to be happy and some to be sad in the capital market.
No, no one wants the traditional car companies here that have gone bankrupt and auctioned, but CATL, which sells power batteries, energy storage batteries, battery materials and recycling and battery mineral resources, is making money every day, making a net profit of more than 100 million yuan a day.
The price war "squeezed out" a net profit of 22.8 billion yuan
CATL once again set a new record, achieving a "China speed" of 10.37%
Under BYD's slogan of "electricity is lower than oil", the whole industry has once again been involved in a whirlwind of bidding for "the lowest price wins", and such pressure has naturally given the battery link, and the battery industry has also entered the "no lower, no good" army.
But it is in this context that CATL has once again created its own era, so that the rumors of "car companies working for CATL" have been hyped again.
According to the semi-annual performance report released by CATL on the evening of July 26, as of the first half of this year, CATL's total operating income was only about 166.7 billion yuan, a year-on-year decrease of 11.88%.
However, the net profit attributable to the parent company has achieved a shocking degree of jaw dropping, reaching nearly 22.8 billion yuan, a year-on-year increase of about 10%, and achieving a daily income of 126 million yuan.
This has to be mentioned that CATL has a layout of lithium mines in North America, Australia, Africa and South America in addition to the domestic "highly saturated" new energy energy business and the four continents of North America, Australia, Africa and South America.
It really confirms the saying that "opportunities are reserved for those who are prepared", because such vertical integration allows CATL to grasp more bargaining power and realize the free shuttle between "upstream and downstream".
This is intuitively reflected in CATL's performance report for the first half of the year.
Aside from the data that the operating income decreased by 11.88% year-on-year due to the low price due to the low price of low-priced battery products, the year-on-year decrease of 17.39% in the first half of the year was only the cost price of 122.5 billion yuan.
I know that the wave of CATL, which "takes its fate in its own hands", can be said to be really "laughing".
And this model of squeezing out "surplus grain" in the price war has also made CATL's business scope enter a state of steady victory, and when others enter the "bankruptcy period", it will enter the "conservative period".
The best example is that in the first half of 2023, BYD will surpass CATL's BYD with a market share of more than 40% of lithium iron phosphate batteries.
In the face of the rapid development momentum of CATL, it is also necessary to abdicate to the story of CATL, which has a market share of nearly 36% ahead of itself in the first half of this year.
Source: Xueqiu
While the domestic market is slowing down, CATL has also expanded its business overseas, and the overseas sales segment, which is dominated by battery systems, also has the opportunity to become a new outlet for CATL's next growth business.
Although in this year's performance report, CATL's overseas revenue fell by 24.77% year-on-year. However, before 2023, the growth rate of CATL's overseas business has always been more than that of China.
In addition to the impact of the price war, this decline is likely to be related to CATL's active expansion of overseas business.
Source: Wind, 36 Krypton
Because in addition to the Nevada factory in the United States in cooperation with Tesla and the Michigan factory in the United States in cooperation with Ford, there are certain risks and uncertainties because CATL needs to support most of the plant and equipment and the construction of the supply chain, and the partner only "moves in" LRS model.
Although the rest of the overseas factories have some obstacles at the official level, all work is basically in a state of slow climbing.
In Europe, for example, a plant in Thuringia, Germany, has already been built. Not only that, according to the statistics of 21st Century Business Herald, CATL's market share in Europe is about 35%, and it is maintaining a steady increase.
At present, the Hungary factory has invested 2.97 billion yuan, and the construction of the first phase of the plant is also progressing smoothly, in addition to the Indonesian factory and the Thailand factory and other factories have also steadily entered the stage of production and construction.
In the factory in Germany, it has obtained the double certification of the Volkswagen Group on the CATL laboratory project, becoming the first battery manufacturer in the world and the first in Europe to be certified by the Volkswagen Group.
From the perspective of competition among car companies, the scale of the new energy vehicle market still maintains a relatively fast growth rate, and to some extent has outperformed traditional fuel vehicles.
And in the long run, CATL is very likely to become the first batch of beneficiaries of "all things" after the "whale fall".
The picture shows one of the factories of CATL
Write at the end
The green linkage between CATL and the Paris Olympics has earned enough eyeballs to show the world the miracle of China's intelligent manufacturing. It has not only carried out cross-border cooperation with Migu to bring high-quality event broadcasting experience to the audience.
In this event, he also used his leading power battery technology and energy storage solution to fill in the mark of the times belonging to the CATL era for this event.
On the other hand, looking at the thorny road of domestic traditional fuel vehicle companies and the gloomy departure of GAC FCA, it is not difficult to find that this phenomenon is not an exception, but a reality that traditional fuel vehicle companies have to face in the tide of transformation of the entire industry.
The challenge they face is not only the shrinking market share, but also how to find new growth points on the new energy track and achieve "salted fish turnover", what do you think? Everyone is welcome to share their thoughts in the comment area.
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