AutoBeta(AutoBeta.net)07/29 Report--

A few days ago, JD.com auction platform showed that Guangzhou Auto Fiat Chrysler Co., Ltd. (hereinafter referred to as "Guangzhou Auto Fick") bankruptcy liquidation assets are being auctioned. Among them, GAC Fick's factory in Changsha was auctioned, with a starting price of 1.9152885 billion yuan. It is understood that this is the first time that the factory has been auctioned, but it ended in a failed auction because there was no bid.

Guangzhou Auto Fick filed for bankruptcy in October 2022, which at that time became one of the iconic events in the auto industry in 2022. At that time, the court held that the actual assets of Guangzhou Auto Fick had been unable to pay off all its debts, and now it had basically stopped operating, obviously lacking the ability to pay off, which was in line with the bankruptcy reasons stipulated in the Enterprise bankruptcy Law. In November 2022, GAC Fick officially entered bankruptcy proceedings.

According to data, the Fiat Group and GAC GROUP jointly established Guangzhou Auto Fiat Automobile Co., Ltd. in March 2010. in January 2014, Fiat and Chrysler merged to form the "Fiat Chrysler Group", becoming the seventh largest automaker in the world. In January 2015, GAC Fiat Automobile Co., Ltd. officially changed its name to Guangzhou Auto Fiat Chrysler Co., Ltd.

Reviewing the development process of Guangzhou Auto Fick, as a Sino-foreign joint venture car company, it is not too late for Guangzhou Auto Fick to lay out in China. Unfortunately, its influence in the Chinese market is not high, and then fell after a short highlight. Let's first talk about a highlight moment, that is, when Guangzhou Auto Fick just started, the performance of Guangzhou Auto Fick in the car market at that time was quite good, and the product update speed was extremely fast, and the layout of four SUV models in less than 3 years, which led to good sales performance. According to the data, Guangzhou Auto Fick sold 179900 and 222300 vehicles respectively from 2016 to 2017, of which 2017 even became the fastest joint venture SUV brand with cumulative sales of more than 400000 vehicles, setting a sales peak.

Unfortunately, after that, GAC Fick suddenly came to an abrupt end. By 2022, Guangzhou Auto Fick has been in a state of shutdown, multi-month production and sales directly for "0" or'- ". According to new car traffic insurance data, Guangzhou Auto Fick's cumulative sales in 2022 were only 6030, down 78.36% from the same period last year, compared with 222300 in 2017. However, what is even worse is that affected by poor sales performance, as of September 30, 2022, Guangzhou Auto Fick's (unaudited) total assets were 7.322 billion yuan, the total liability was 8.113 billion yuan, and the asset-liability ratio reached 110.80%. This has also become the last straw to overwhelm Guangzhou Auto Fick. The serious insolvency made it difficult to solve the long-term accumulation of Guangzhou Auto Fick and was finally forced to file for bankruptcy in October 2022.

Data show that GAC Fick has two major production bases: Changsha factory and Guangzhou factory. In September 2021, due to spare capacity, Stellantis announced the closure of Guangzhou Auto Fick plant, which was taken over by GAC Ean and used to produce pure electric models. As for the Guangqi Fick Changsha factory, the factory is located at No. 18 Yingxia Road, Changsha County, Changsha City, Hunan Province, with a land use right area of 700112.8 square meters, about 1050 mu, a total of 19 buildings with property certificates, in addition to land and building plants at the latest auction, it also includes all kinds of machinery and equipment produced by GAC Fick.

It is understood that the second auction will begin at 10:00 on August 5. it is worth mentioning that the starting price of the second auction has dropped from 1.9152885 billion yuan to 1.5322308 billion yuan, a drop of 383.0577 million yuan. As to whether the auction can be successful after the price reduction, there will be an answer in a few days.

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