AutoBeta(AutoBeta.net)03/07 Report--

Changan Automobile released production and sales figures for February, with production of 96921 vehicles in February, down 35.66 per cent from a year earlier, and sales of 110470 vehicles, down 27.57 per cent from a year earlier. Total production from January to February was 241096 vehicles, down 37.31% from the same period last year; sales were 252205 vehicles, down 35.22% from the same period last year. Among them, Changan Ford produced only 2651 vehicles in February and sold only 6799 vehicles, down 81.4% from the same period last year; Changan Mazda's monthly sales were 6897, down 21.6% from the same period last year; and Changan's own brand monthly sales were 49681, down 18.1% from the same period last year.

In February, among the many sub-brands of Changan Automobile, except for Hefei Changan, which achieved 8.8% year-on-year growth, the other five sub-brands all declined to varying degrees. Changan Mazda sold only 6897 vehicles in February, down 21.6% from the same period last year. The cumulative sales in the first two months of this year were less than 20, 000. The worst decline was Changan Ford, which sold only 6799 vehicles a month, down 81.4% from a year earlier, while Changan Ford produced only 2651 vehicles in that month.

Recently, the New York Times reported that Ford's joint venture in China, Changan Ford, had begun to lay off thousands of employees, mainly because of the rapid decline in Ford's sales in the Chinese market. According to the news, Changan Ford's production capacity at three large assembly plants in Chongqing is largely idle. At present, the production capacity is less than 1% of the total production capacity, and production has also changed from three shifts to single shifts. Changan Ford, once proud of Changan Group, has long been far away from mainstream joint venture car companies after years of "decadence", so it is not surprising to reduce production and lay off staff.

Changan independent brand Chongqing Changan monthly 49681 vehicles, down 18.1% compared with the same period last year. Changan Automobile strives to create independent research and development-based "Chongqing Changan" and the joint venture car-based "Changan Ford" two pillar subsidiaries have long lost the elegant demeanor of that year. In the domestic independent brand competition environment, "Chongqing Changan" has already gone downhill.

Last year, Changan Automobile also suffered a cold wave in revenue. According to the 2018 results forecast released by Changan Automobile at the end of January, Changan expects to achieve a net profit of 500 million yuan to 750 million yuan belonging to shareholders of listed companies last year, compared with about 7.137 billion yuan in 2017. down 92.99% from a year earlier to 89.49%.

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