AutoBeta(AutoBeta.net)09/17 Report--

The position of general manager of the Sino-French joint venture "Dragon Automobile Co., Ltd." has been readjusted. Rothbo, a French executive who has been in office for a year and a half, will be replaced by Chen Bin, a Chinese executive.

Officials said that on the afternoon of September 17, Shenlong Automobile Co., Ltd. held a cadre meeting. After communication between shareholders, the party committee of Dongfeng Company (Group) studied and decided that Chen Bin was appointed general manager of Shenlong Automobile Co., Ltd.

At the same time, MASSIMO ROSERBA will no longer hold the post of general manager of DPCA Automobile Co., Ltd., and will have another appointment. Previously, Rothbo has held the above position since February 2019.

According to the official introduction, according to the agreement between Dongfeng Company and PSA Group, the General Manager and Executive Deputy General Manager of DPCA Automobile Co., Ltd. will be selected by Dongfeng Company and PSA Group in turn.

DPCA, a joint venture with the brands of Dongfeng Peugeot and Dongfeng Citroen, has not performed well in recent years. DPCA's annual sales fell to 253400 in 2018, down 31.88% from the same period last year; cumulative sales in 2019 were 113579, down 55% from the same period last year. The cumulative sales of DPCA from January to July in 2020 were only 26782, a sharp drop of 64 per cent compared with the same period last year. According to the China Automobile Association, the market share of French brands in China has fallen to 0.3 per cent.

It is reported that Chen Bin, who is the leader of the group, is expected to allow DPCA to get more resources from Dongfeng Company. At present, Chen Bin also holds the position of assistant to the president of Dongfeng Automobile Group Co., Ltd.

Dongfeng also pointed out that the adjustment of the main leaders of DPCA is a prudent decision made by the party committee of Dongfeng on the basis of the company's 14th five-year Plan. Dongfeng Company will continue to perform its duties, play a good shareholder role, firmly support the development of DPCA Automobile Co., Ltd., and promote the whole value chain back to a healthy track.

At a time when sales continue to decline, DPCA has undergone a deep adjustment of the executive team, governance model, organizational structure and decision-making mechanism, but it has not yet been out of danger, and the market performance of brands and products is still at a low ebb.

According to the "yuan" plan released by DPCA in September last year, DPCA will make a steady profit from 2020 to 2021, with annual sales rising to 250000 and the break-even point reduced to 150000. From a practical point of view, the Dragon Revival Plan has once again suffered a setback.

PSA Group has repeatedly stressed that it will not withdraw from the Chinese market, and in the face of declining sales, there is still a need for more measures.

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