AutoBeta(AutoBeta.net)05/10 Report--

On May 10, Guangzhou Auto Fiat Chrysler Co., Ltd. (hereinafter referred to as "Guangzhou Auto Fick") appointed Zhu Hengli as the deputy general manager of Guangzhou Auto Fick and a member of the company's executive committee, which came into effect on May 1. Zhu Hengli is stationed in Guangzhou Auto Fick from Stellantis China. He reports to Massimiliano Trantini, the executive committee member of Stellantis Group in China and president of Guangzhou Auto Fick.

In fact, there were media reports earlier that Zhu Hengli, former executive vice president of Qirui Jaguar Land Rover marketing and service organization, would join GAC Fick as the foreign head, but Chery Jaguar Land Rover did not comment.

According to the data, Zhu Hengli is also a veteran of the automobile industry. his career began in Ford China in 1994. He has held a number of positions in the fields of purchasing, logistics, sales, network development and customer experience in Ford China, Changan Ford and Lincoln China. In 2018, he joined Jaguar Land Rover China and served as Executive Vice President of Jaguar Land Rover China and Chery Jaguar Land Rover Business Development Department, and later served as Executive Vice President of Jaguar Land Rover China and Chery Jaguar Land Rover Joint Marketing and Service Organization.

On Zhu Hengli's entry, Cai Dini, president of GAC Fick, said: "I am very glad that Mr. Zhu Hengli can join GAC Fick and be responsible for the sales and marketing business of the joint venture company. His industry experience will enhance the operational level of the entire sales and marketing team and contribute to the performance of GAC Fick."

The current market performance of Guangzhou Auto Fick is not optimistic. Data show that Guangzhou Auto Fick's cumulative car sales in 2020 was 40513, down 45.18% from the same period last year, making it GAC GROUP's biggest decline. In the first four months of this year, Guangzhou Auto Fick's cumulative sales were 9702 vehicles, down 10.96% from the same period last year, making it the only brand under GAC GROUP to decline.

Guangzhou Auto Fick sales have dropped sharply, mainly due to product problems. If the decline in GAC Fick sales in 2020 is due to the epidemic, then GAC Fick's sales did not improve much when the domestic car market began to pick up in the second half of the year and the sales of many car companies twisted. In the first four months of this year, due to the low base caused by the epidemic last year, a number of car companies showed substantial growth, while GAC Fick "bucked the trend", showing a double-digit decline.

To make matters worse, GAC Fick has become insolvent. According to the 2020 financial report data disclosed by GAC GROUP, the net worth of GAC Fick fell to-331 million yuan from 1.336 billion yuan at the beginning of the year. Compared with its performance in GAC GROUP's financial report, it means that GAC Fick's net assets have been almost depleted and have become insolvent under huge losses.

At present, Guangzhou Auto Fick has only four models on sale, including Liberty Man, Compass, Free Light and Big Commander. However, compared with Ford and GM, FCA's Jeep brand has a lower and lower sense of existence in China, coupled with the product reputation, the sales of new cars in China have declined year after year.

On January 16, 2021, the FCA Group and the PSA Group merged to form the STELLANTIS Group with a share ratio of 50:50. According to the official website, the group owns 15 car brands, and joint ventures in China include DPCA and Guangzhou Auto Fick. According to the data, STELLANTIS Group sold 1.618 million vehicles (including joint ventures) in the first quarter, with net revenue of 37 billion euros.

According to the official website, Zhu Hengli was stationed in Guangzhou Auto Fick by Stellantis China, which is regarded as the relevant measure taken by the Stellantis Group to the joint venture company since its establishment. However, there is still a lot of uncertainty as to whether Zhu Hengli's entry can reverse the development of Guangzhou Auto Fick.

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