AutoBeta(AutoBeta.net)11/06 Report--

On November 5, Dongfeng Automobile Group Co., Ltd. (hereinafter referred to as "Dongfeng Group") released sales figures for October and the first 10 months of this year. Data show that Dongfeng Group sold 160200 vehicles in October, down 22.1% from a year earlier. Dongfeng Group sold 1.5264 million vehicles from January to October, down 10.0% from a year earlier.

At present, Dongfeng Group has joint ventures such as Dongfeng Nissan, Dongfeng Honda, Dragon Motor and so on. According to specific joint venture brands, Dongfeng Nissan (including Dongfeng Infiniti and Qichen) sold 56700 vehicles in October, down 25.1% from a year earlier, while cumulative sales in the first 10 months of this year were 518700, down 11.0% from a year earlier. Dongfeng Honda, another Japanese joint venture, sold 35000 vehicles in October, down 45.2% from a year earlier, while cumulative sales for the year were 342200, down 28.2% from a year earlier. In terms of sales data, both Dongfeng Nissan and Dongfeng Honda showed cumulative sales declines in October and the first 10 months, but this is to be expected. Today, the share of Japanese joint venture brands in the domestic market is gradually declining.

In addition to the above two joint venture brands, the decline of DPCA is also obvious. DPCA sold 3358 cars in October, down 42.2 per cent from a year earlier, while cumulative sales for the year were 56500, down 18.8 per cent from a year earlier. For DPCA, its electrification transformation has lagged behind the industry, which is one of the reasons for the decline in sales.

In terms of independent brands, Dongfeng Group has laid out Dongfeng Lantu, Dongfeng Fengshen, Dongfeng New Energy, Dongfeng Fashion and other brands in the field of independent brands. Data show that Dongfeng Liuqi sales fell 25.3% to 8966 vehicles in October compared with the same period last year, and cumulative sales during the year fell 3.8% to 95900 vehicles. Independent plate Dongfeng passenger car sales increased by 73.4% to 19300 vehicles in October, and cumulative sales increased by 73.6% to 163900 vehicles during the year. Dongfeng Lantu's October sales rose 56.8 per cent to 6067 vehicles from a year earlier, and cumulative sales for the year rose 82.7 per cent to 60800 vehicles.

Generally speaking, in terms of joint venture brands, sales of Dongfeng Nissan, Dongfeng Honda and DPCA all declined to varying degrees in October or the previous October, but the joint venture brand is still the main source of sales of Dongfeng Group. According to statistics, Dongfeng Nissan and Dongfeng Honda accounted for 56.4% of the group's total sales (1.5264 million vehicles) in the first 10 months of this year, while Dongfeng Liuqi, Dongfeng passenger cars and Dongfeng Lantu only 21.0%.

At present, with the great changes in the car market and the gradual rise of independent brands such as BYD, Chery and Geely, joint venture brands, including those owned by Dongfeng Group, are in decline and their market share is being carved up. The decline of joint venture brands is a "general trend", which also puts Dongfeng Group under pressure. In this context, Dongfeng Group also began to accelerate the beginning of electric transformation. What needs to be faced squarely is that, compared with the joint venture brand, Dongfeng Group is more attractive in terms of independent brands, and most of the independent brands have achieved growth, but there is still a huge gap compared with the mainstream brands in the car market.

Last year, Dongfeng Motor has integrated the three independent passenger car brands: Dongfeng Fengshen, Dongfeng Yipai and Dongfeng Nano, which are directly operated by the group headquarters and compressed the management level, but according to the current trend, at present, independent brands are still in the stage of continuous investment. With the follow-up Dongfeng Group's investment in the transformation of new energy has achieved some results, it is expected that its sense of existence in the domestic new energy vehicle market will become stronger and stronger, as to whether Dongfeng Group can make a comeback remains to be verified.

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