AutoBeta(AutoBeta.net)11/26 Report--

On November 20, the Shenyang Intermediate people's Court ruled on the 20th to accept the creditor's application for the reorganization of brilliance Automobile Group Holdings Co., Ltd., which also means that the independent car company has officially entered the bankruptcy reorganization process.

Brilliance Automobile Group, which was declared bankrupt and reorganized because of debt problems, has become an independent car manufacturing company that has embarked on the road of restructuring because of poor management. so what has brilliance done in recent days after declaring bankruptcy and restructuring?

November 25, "China Business" media site visit found that brilliance car manufacturers have begun to sell cars directly. From the relevant pictures, we can see that at the door of Shenyang brilliance Golden Cup Automobile sales Co., Ltd., there is a huge billboard with the words "brilliance manufacturer runs directly". Another billboard reads "business scope for whole vehicle wholesale and retail, second-hand car replacement, car rental, auto parts wholesale and retail, agent insurance".

According to brilliance's website, Zhonghua, Golden Cup and Huasong are all independent brands of brilliance Group, among which brilliance has three models on sale, including China H530, China V3 and China V7.

According to the company's employees, "at present, China V3 only has manual gears, and automatic gears are all sold out." China V3 was produced in September 2020, and V7 models will be produced from 2018 to 2019. Chinese brands in addition to V3, the other are national five standard models, the models on sale are inventory cars, "retail and wholesale prices are different, buy more can be cheaper, inventory cars basically have no warranty, only V3 has warranty". The employee said, "at present, the most cost-effective model is Huasong, the Huasong 7 model currently on sale, the official guiding price is 23.77-287000 yuan, the current price is only 105000 yuan."

Brilliance is directly engaged in selling cars, which may be related to the withdrawal of offline dealers. According to the "Daily Business News" media visit brilliance car sales outlets found that some dealers have withdrawn from the net, and there are no show cars in 4S stores. A dealer said, "many brilliance China 4S stores have no display cars, the cars are under pressure in the factory, and the dealers can't pick up the goods." Brilliance owes a lot of debt, and no logistics is willing to distribute products to manufacturers. "

As an established independent automobile brand, it once played an important role in China's automobile industry, and China Zunchi, China Junjie and other models have a place. However, at present, brilliance China has only three models left for sale, its sales continue to be dismal, dealers are forced to withdraw from the net, manufacturers have no choice but to sell cars directly. Some employees said, "our old employees have a lot of feelings for brilliance, and I feel very sorry to see that China has come to this stage."

In recent years, brilliance has been over-reliant on the profits brought by brilliance BMW, which has led to the continuous weakening of the independent sector. Relevant data show that from 2015 to 2019, the losses were 540 million yuan, 600 million yuan, 860 million yuan, 420 million yuan and 1.064 billion yuan respectively, with a total loss of nearly 3.5 billion yuan. In contrast, BMW brilliance, a joint venture brand, has contributed 3.923 billion yuan, 3.993 billion yuan, 5.233 billion yuan, 6.245 billion yuan and 7.626 billion yuan to brilliance in the past five years, with a cumulative profit of 26.9 billion yuan.

Cui Dongshu, secretary-general of the Federation of passengers, said that brilliance originally had a good foundation, and both BMW and Golden Cup were in the leading position. However, brilliance did not continue to strengthen independent technology research and development to ensure the continuous improvement of product strength, but passively responded to laws and regulations and fierce competition, and finally had today's dilemma, and its failure experience should be used for reference by all automobile companies.

At present, brilliance, as a state-owned enterprise, still has a certain position in terms of volume and resources, but the road of brilliance's restructuring is also full of uncertainty. On the whole, brilliance's contribution to brilliance's profits will be greatly reduced in the future. under this background, brilliance needs to speed up the development of its own brand camp, including technology, design, products and brand strength, etc., away from the profit support of brilliance BMW to brilliance, however, judging from the current situation of brilliance, even after the restructuring, independent brands still face a huge survival crisis. "No better" may best reflect the development situation of brilliance for some time to come.

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