AutoBeta(AutoBeta.net)04/21 Report--

According to Tianyan investigation, Jin Zheyong, chairman of Zhongtai Automobile Co., Ltd., was restricted from high consumption because of a dispute over the sale and purchase contract. Relevant information shows that Zhongtai Motor has 10 court announcements in April this year alone, mainly in sales contract disputes and advertising contract disputes.

Zhongtai Automobile recently issued a notice saying that in order to ensure the normal turnover of Zhongtai Automobile subsidiary Hunan Jiangnan Automobile Manufacturing Co., Ltd., and to ensure the completion of the production and sales of various models, Zhongtai Automobile will provide joint and several liability guarantee for Jiangnan Automobile to apply for 550 million yuan in integral credit from Xiangtan Branch of Huarong Xiangjiang Bank Co., Ltd., with a guarantee period of three years from the day after the expiration of the loan term under the independent contract.

However, the current situation of Zhongtai Motor is not optimistic. Since the outbreak in January this year, the already bleak prospects of Zhongtai Motors into a more difficult situation, Zhongtai Motor has not disclosed the relevant production and sales data for three months in a row. In addition, at present, except for the administrative department, research institute and new energy logistics department, the fuel truck manufacturing plant has not yet resumed work.

Founded in 2003, Zhongtai Automobile is an automobile manufacturing enterprise with vehicle R & D, manufacturing and sales as its core business, with three brands: Zhongtai, Jiangnan and Junma. Zhongtai Automobile is a car company that started by imitation. With the technique of "high-end reference", its products are sought after by consumers in a short time, such as Zhongtai T600 imitating Volkswagen Touareg and Da Mai X7 imitating Volkswagen Touon. In particular, Zhongtai SR9, which directly imitated the appearance of Porsche MACAN, quickly became an automobile "Internet celebrity" after its launch, and was called "Porsche" by netizens. However, there is a feature of these models, which saw a surge in sales due to their high appearance at their debut, but fell sharply after a period of time on the market.

"imitate for a moment, imitate for a moment". Although imitation can be sought after by consumers in a short time, but in technology, product power and other aspects can not keep up with the development of the times for a long time, then it will be eliminated by the market.

Zhongtai's sales in 2019 were 153000, down 40.1 per cent from a year earlier, according to the China Automobile Association. Due to the decline in sales, Zhongtai Motor expects a loss of 6 billion-9 billion yuan in 2019, a profit of nearly 800 million yuan in the same period last year, down 85% from the same period last year.

Since last October, Zhongtai Automobile was exposed to bankruptcy liquidation at the end of the year, Zhongtai Motor has gradually revealed its disadvantages in the market and has been sued by a number of upstream suppliers. Today's Zhongtai car sales are very poor, even without the epidemic, its factories are still in a state of semi-shutdown, and its dealers have no cars to sell. At the beginning, because the car owners who took a fancy to Zhongtai Automobile not only had to endure all kinds of problems in the vehicles, but also had to bear the ultra-high depreciation rate.

The technical strength of Zhongtai is weak, the old models have been slow to upgrade the national six standards, and the development of new models has been slow. In the current environment of intensified reshuffle in the automobile industry, Zhongtai Automobile has been very difficult to keep up with the pace of the market, and it is becoming more and more difficult to rely on new cars to turn around!

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