AutoBeta(AutoBeta.net)03/11 Report--

On March 10th, Guangzhou Automobile Group Co., Ltd. (hereinafter referred to as "GAC GROUP") released its February production and marketing KuaiBao. Data show that GAC GROUP's production and sales in February were 175100 and 161200 respectively, up 15.25% and 12.38% respectively from a year earlier. In addition, GAC GROUP's cumulative production and sales volume from January to February were 303400 and 308100 respectively, down 18.11% and 19.06% respectively from a year earlier (the above figures are all wholesale sales, the same below).

In terms of specific brands, "Liangtian" is still the sales pillar of GAC GROUP, but the performance of the two companies is completely different. Guangzhou Auto Toyota's sales rose 26.15% year-on-year to 63200 vehicles, making it the only joint venture in the top 15 to achieve double-digit growth, according to the data. According to GAC Toyota, two models sold more than 10,000 cars in February, with the Camry with the highest sales of 15403 and Leiling with 10149. In addition, Vanguard Landa and Weilanda are 9339 and 9227 respectively.

Compared with GAC Toyota, GAC Honda's performance can only be described as dismal. In February, Guangzhou Auto Honda sold 41200 vehicles, down 27.81 per cent from a year earlier. During the year, a new generation of Accord, which is responsible for the sales of Guangzhou Auto Honda, will be introduced to the market. From the existing information, although it is a new generation of models, but also only for the appearance of the update, the power system is basically the same as the cash. Of course, the advantages and disadvantages of this change are both advantages and disadvantages. The good thing is that the market can be stabilized, and the core components are not updated to avoid greater defects, while the bad part is the sharp decline in product competitiveness, especially in the context of the extreme annual volume of new energy vehicles. Joint venture fuel vehicles are retreating if they are not aggressive.

Compared with "Liangtian", GAC-Mitsubishi, which is also Japanese, has become an "encumbrance" of the group. Data show that GAC-Mitsubishi sales fell 90.91% to 330 vehicles in February from a year earlier, and cumulative sales from January to February fell 79.86% from a year earlier to 1498 vehicles. According to the official website of GAC-Mitsubishi, there are four models for sale under the brand, including pure electric SUV Artuco, New Orlande, New Jinxuan and Yige fuel vehicles. Take the February data as an example, the wholesale sales of GAC-Mitsubishi in that month were 330, of which 311 were Orlande, 14 were Jinxuan ASX and 5 were Yige.

On November 19, 2022, the new generation of Eurolander launched a total of seven models, including four two-wheel drive versions and three four-wheel drive versions, of which the two-wheel drive and four-wheel drive top versions are all 7-seat models with a price range of 16.98-229800 yuan. It is understood that the third generation of Euroland is based on Nissan Qijun's CMF platform, using 1.5T four-cylinder engine + 48V light hybrid power, matching CVT gearbox.

Compared with Jinxuan, Yige and other models, the Orlande is still the best-selling model of GAC-Mitsubishi, but compared with the same class of models, the performance of the Orlander is very bleak. Retail data show that since the launch of the new Outlander, sales have been 2456 in December 2022 and 1930 in January-February 2023.

GAC-Mitsubishi itself is small, the product is single, and its own channel layout is also limited. In the face of the market after the impact of the epidemic, it did not seize the opportunity to rebound. At the same time, its product power and brand strength are between the first-line joint venture brand and the head independent brand, and the position is somewhat awkward in the current highly competitive market environment.

In fact, GAC-Mitsubishi has fallen for several years since 2019. According to the data, sales from 2019 to 2021 were 133016, 75001 and 66006 respectively, down 7.64%, 43.62% and 11.99% respectively from the same period last year. After entering 2022, the situation of GAC-Mitsubishi became even more dangerous, with annual sales of 33600 vehicles, down 49.13% from the same period last year.

As we all know, Mitsubishi is a member of the Nissan-Renault-Mitsubishi alliance, and these three brands are not doing well in the Chinese market. Renault, its Dongfeng Renault joint venture with Dongfeng Motor, announced its withdrawal from the market as early as April 2020, selling only 18500 vehicles in 2019. Nissan, which established the Dongfeng Nissan passenger car company with Dongfeng Motor shares, currently operates Nissan / Qichen / Infiniti three major brands, mainly from Nissan, while Nissan's best-selling models are only Xuanyi, Xiaoke, and Teana, and Qijun, which once could still compete with RAV4 and Honda CR-V, lost the market due to the replacement of three-cylinder engines, affecting Dongfeng Nissan and even Nissan car sales in China.

As for Mitsubishi, its current situation is between Renault and Nissan, although not to the point of delisting, but has become a marginal brand. Of course, if GAC-Mitsubishi sales halve again in 2023, it will be close to the tipping point of Dongfeng Renault delisting. For GAC-Mitsubishi, which has been left far behind by the first-tier joint venture brand, to get a place in the current stock competition in China's auto market is not only a test of its own operating ability, but also a test of the choice of the parent companies of China and Japan.

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