This article is from micro-channel public number: Jintai capital group (ID: jtzbz1) , author: Zhou Qi, the original title: “SAIC how” unlucky “| Net profit decreased by nearly 30%, Passat “hit” the brand crisis “, the title picture comes from: Tuworm
On January 14th, SAIC Group (600104.SH) released the 2019 annual results forecast, which is expected to be attributed to the shareholders of listed companies About 25.6 billion yuan, a year-on-year decrease of about 10.4 billion yuan, or about 28.9%.
In 2019, the domestic auto industry is generally in a state of decline. As the largest automobile group in China, SAIC Group has not been “survived.”
SAIC Group has entered an eventful year in 2019 after personnel changes, China V upgrade, China VI, and subsidies for new energy vehicles.
Xinhua News Agency
Vehicle sales in 2019 decreased by 11.54% year-on-year
SAIC Group issued a performance forecast announcement saying that it is expected to realize a net profit attributable to shareholders of listed companies of approximately 25.6 billion yuan in 2019, compared with the same period of the previous year, a decrease of approximately 10.4 billion yuan and a decrease of approximately 28.9% year-on-year; The net profit after deducting non-recurring gains and losses is about 21.4 billion yuan, which will decrease by about 11 billion yuan compared with the same period of the previous year, and decrease by about 34%.
For the reason that the net profit dropped sharply by nearly 30%, SAIC Group stated in the announcement that The company’s total vehicle sales in 2019 were 6.238 million, a decrease of 11.54% year-on-year, and the switching between National V and National V models was superimposed. The intensified contradiction between supply and demand, the decline of domestic new energy vehicle subsidies, and other factors.
In terms of vertical comparison, SAIC’s 2016-2018 total revenues were 756.416 billion yuan, 870.639 billion yuan and 902.194 billion yuan, respectively, year-on-year growth of 12.82%, 15.1%, and 3.62%; net profit was 43.962 billion yuan. , 47.116 billion yuan, 48.405 billion yuan, an increase of 9.7%, 7.17% and 2.73% year-on-year respectively.
That is to say, although SAIC Group’s revenue has continued to increase in recent years, its net profit growth has gradually declined and will turn negative in 2019.
However, in terms of horizontal comparison, the automobile industry as a whole has been in a downward trend in recent years, and SAIC Group ’s performance in this context is not bad.
As of January 15, among the auto companies that have announced their 2019 performance forecasts in A shares, there is no company that can be compared with SAIC Group, but it can still be seen from some production and sales express reports.
Lifan’s December production and sales express report shows that in 2019, the company’s traditional passenger car production and sales decreased by 78.68% and 75.52% year-on-year respectively; new energy vehicle production and sales decreased by 71.12% and 69.49% year-on-year respectively.
BYD’s December sales report shows that the company’s fuel car sales in 2019 decreased by 15.02% year-on-year; new energy vehicle sales decreased by 7.39% year-on-year; the total sales volume decreased by 11.39% year-on-year.
* ST Haima’s December production and sales report shows that the company’s basic passenger car production and sales in 2019 decreased by 91.32% and 90.91% year-on-year respectively; SUV production and sales decreased by 31.3% and 38.15% year-on-year respectively.
JAC’s December production and sales express report shows that the company’s automobile production and sales in 2019 decreased by 9.29% and 8.91% year-on-year,Among them, the production and sales of pure electric passenger cars decreased by 7.84% and 8.87% year-on-year respectively.
SAIC’s total vehicle sales in 2019 decreased by 11.54% year-on-year. Compared with the above companies, it is stronger than Lifan and * ST Haima, and weaker than JAC. It is basically equivalent to BYD.
Sales are still soaring, but the public is in a brand crisis
Sales have decreased and net profit has fallen sharply, but SAIC has encountered more problems than this.
Recently, the test results of Baoshen (C-IASI) in the automotive technology research platform have caused heated discussion. Volkswagen Passat, which has always regarded quality as its reputation, got a “poor” evaluation in the frontal 25% bias collision test. SAIC Motor Group also has a number of models in the test scores in general, many other people in the industry were shocked.
Passat, as a mid-to-high-end model of SAIC Volkswagen, has been a B-class car sales champion for many years, and is called B-class car benchmarks by many media.
In the video of the front 25% offset crash test of the Passat developed by China Insurance, the car body was severely damaged, the A-pillar was broken, the head was severely collapsed, the steering wheel was displaced, and the airbag deflection failed to function. The dummy’s head bumped into a hard object twice.
A number of professional media commented that if the above situation occurs in reality, the driver in his car is likely to be seriously injured or even killed.
Finally, Passat ’s vehicle structure and the invasion volume of the upper passenger compartment were all rated as “poor”, and its overall rating was also “poor”, setting the lowest single score in the historical collision models of China Insurance Research Institute. , The last of the dozens of models it tested at the time.
It is reported that the crash test adopted the standard of 64km / h, and the test vehicles were randomly purchased by China Insurance Research Institute in the market.
Saiqi Volkswagen ’s popular model Tiguan L is also on the list. It received a poor evaluation in the frontal 25% offset collision, with the same score as other models such as the Buick GL8, and was tied for the second last.
Because of the US version of Passat in the US IIHS (National Highway Safety Insurance Association) 25%The results of the offset collision were “excellent”. Many car owners, netizens and the media suggested that SAIC Volkswagen Passat may be suspected of cutting corners.
Although SAIC Volkswagen has not responded positively so far, the official website of China Automotive Research & Development (C-NCAP) shows that Passat has voluntarily requested to do it again. Crash test. People in the industry believe that SAIC Volkswagen may want to “self-certify innocence” through C-NCAP, but from the past C-NCAP collision results of other SAIC-Volkswagen models, the results are not absolutely convincing.
However, the above tests did not seem to affect Passat sales. Car sales data for December 2019 shows that Passat’s total sales in December were 29,390 units, an increase of 74.1% year-on-year, and it still ranks first in the mid-range car sales list, selling nearly 1 more than the second-place Accord Million.
Some media commented that although relying on the rise of a number of new models to ensure annual sales growth, but the weakness of the main sales models reflects the public brand’s reputation is quietly falling.
On January 14, a reporter from “China Economic Weekly” issued an interview letter on the SAIC Board of Directors on issues such as the decline in SAIC’s net profit and Passat crash test. Before the deadline, no reply was received.
This article comes from public micro-channel number: gold station capital group (ID: jtzbz1) , author: Zhou Qi