AutoBeta(AutoBeta.net)07/08 Report--

Changan Automobile, which is in constant decline, today released a production and sales report for June, showing that new car sales in June were 142000, down 24.8% from a year earlier, down 24.8% from January to June, down 31.7% from a year earlier. Regardless of the month or the first half of the year, Changan's independent brands and joint venture brands have declined across the board.

From the perspective of specific brand sales, Changan brand sold 69000 new cars in June, down 0.8% from January to June, down 26.1% from January to June. Jiangling Holdings sold 24000 new cars in June, down 46% from a year earlier. From January to June, Jiangling Holdings sold a total of 140000 new cars, down 23% from a year earlier.

In terms of joint venture brands, Changan Ford had the biggest decline in sales, with sales of 16000 new cars in June, down 44.5% from January to June, down 44.5% from January to June, down 67% from a year earlier. Changan Mazda sold 9600 new cars in June, down 20.2% from the same period last year. 61000 new cars were sold from January to June, down 32.2% from the same period last year.

It is worth noting that Changan Ford also said in the announcement that its retail sales in June were 26057 units, 10, 000 more than wholesale sales, meaning that Changan Ford reduced its dealer inventory by 10, 000 units in June.

The increase in the decline of Changan Ford is mainly related to the fact that the model is in the end of the product, three-cylinder new technology market application, product reputation and so on. China's car sales have declined one after another, further accelerating the decline of Changan Ford's sales. Changan Ford said that new focus, Fox Active crossover, new Ruijie family and new Taurus will be launched one after another in the second half of 2019, which will help improve sales performance.

The profit of Changan Automobile has been greatly affected due to the continuous decline in sales of independent and joint venture brands, especially Changan Ford. The annual net profit of Changan Automobile in 2018 was only 681 million yuan, down 90% from the same period last year. The net profit loss of Changan Automobile in the first quarter of this year was 2.1 billion yuan, down 250% from the same period last year.

China's auto market will be more severe in the second half of the year, which will pose a greater challenge to Changan automobile sales and performance.

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