AutoBeta(AutoBeta.net)07/15 Report--

According to relevant data, Jiangling accumulated sales of 136600 vehicles in the first half of 2019, down 7.27% from the same period last year, including Yusheng brand SUV and JMC pickup trucks down 85.09% and 21.43% respectively.

Even under such circumstances, Jiangling has no intention of lowering its sales target. According to the company, Jiangling Ford and other model upgrades will be put on the market this year, and the Ford brand SUV will be a turning point for the company's profits in the future.

Jiangling has become accustomed to flagging performance. From 2016 to 2017, the company's net profit and deducted non-net profit both fell by more than 40%. In 2018, the company's revenue return net profit and deducted non-net profit were 28.249 billion yuan, 92 million yuan and minus 278 million yuan respectively, down 9.88%, 86.71% and 269% respectively from the same period last year. According to the forecast, Jiangling's net profit belonging to shareholders of listed companies in the first half of 2019 was 58.86 million yuan, down 81.55% from the same period last year.

Jiangling Motor said that the company has maintained intensive investment in new products, new technologies, new businesses, etc., due to the addition of new forces and the price competition of traditional competitors, as a result of the rising costs and marketing changes brought about by the market competition the company is dealing with.

As the company said, once the market competition becomes fierce, the deficiency of Jiangling Motor will be quickly magnified. Take SUV as an example. When SUV went up in 2016, Jiangling SUV sales reached 45000, a year-on-year increase of 83 per cent. With the rise of independent brands in 2017, Jiangling SUV fell 12.6% compared with the same period last year. Sales of the company's two SUV models halved in 2018, with Yusheng brand SUV selling less than 7000 vehicles and Ford brand SUV selling less than 6000.

In order to change the predicament, Jiangling accelerated its cooperation with Ford. In January this year, Ford Leader went public. Although the car uses the Ford logo, it is produced on the Jiangling production line.

Based on confidence in leading brands, Jiangling Motors proposed that the company plans to sell 383000 vehicles in 2019, with sales revenue of about 37 billion yuan, up 34% and 31% respectively from 2018. But by the end of June 2019, the company had sold only 136000 new cars, about 35 per cent of the mission accomplished.

Jiangling explained that the arrival of the sixth grade had a great impact on the entire automobile market.

Despite the multiple effects of declining sales and poor performance, Jiangling is still full of confidence in the future. Recently, Jiangling Motor proposed the transformation direction of "electrification, networking, intelligence and sharing", and held L4 self-driving vehicles and new energy pickup domain tiger EV in Shanghai. The former is based on the self-driving software provided by Baidu Apollo and takes Jiangling Motor as the prototype car to redesign and match multiple scenes. The latter is an electric pickup with strong battery life, which can last 320 kilometers.

And the industry is also mostly optimistic about Jiangling Motor. Guosheng Securities said that Jiangling Motor was the annual low in the first quarter, and with the launch of Ford Leader, the company will usher in an upward period. In the first quarter, the impact of commercial vehicle revenue and market factors have declined to a certain extent, and the leading sector is also on the rise. With the increase in production capacity, the leading sector will bring huge performance gains for the company.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat