AutoBeta Home News New Vehicle Industry Report Data Report Industrial Economy

In addition to Weibo, there is also WeChat

Please pay attention

WeChat public account

AutoBeta

Layoffs, pay cuts, production line development difficulties, Cheetah was exposed to be seized by the court bank deposits of 23 million

2024-11-22 Update From: AutoBeta autobeta NAV: AutoBeta > News >

Share

AutoBeta(AutoBeta.net)08/30 Report--

According to the enterprise investigation information, Cheetah added an order that the applicant was Chongqing Haite Automobile exhaust system Co., Ltd., due to a dispute with the Cheetah car sales contract, filed an application for property preservation before the lawsuit with the people's Court of Changsha County, Hunan Province on July 24, 2019. The court ruled that Chongqing Haite Automobile Emission system Company applied to meet the requirements and had issued a 23 million yuan loan from Cheetah Automobile Bank, or seized or seized its property of the same value.

UC截图20190830125423.png

On August 20th, with another brand-new cheetah new CS10 off the production line, Cheetah's Yongzhou factory ushered in the 410,000th new car off the line, but this time so much money was frozen, which is a lot of pressure on the development of the already disadvantageous Cheetah car.

Since the beginning of this year, Cheetah has been exposed by the media many times, many workers are in a state of shutdown, and according to internal documents circulated online, Cheetah executives and all employees will generally cut their salaries, and senior executives will cut their salaries by half.

9589-iaxiufn7383165.jpg

According to internal documents, executives of Changfeng Group and Cheetah AG have cut their advance wages by another 20%, with a cumulative reduction of 50%, on the basis of a 30% cut in February. The salaries of employees in the research institute have been reduced by 10% to 50%. The wages of employees in production bases have been reduced by 30-50%; and the salaries of employees in other departments have also been reduced by 30%, by 50%.

An insider told us that at present, some of Cheetah's front-line employees have indeed stopped work, but there is no written notice about the pay cut, and most employees have not signed up for the pay cut.

As the current car market continues to be in the doldrums and development difficulties, layoffs and pay cuts have become the current way for Cheetah to deal with the difficulties, and Cheetah has shut down some of its production lines.

156527918390156200_a580x330.jpg

In recent years, with the help of the SUV market boom, cheetah car sales have been rising. Data show that Cheetah's annual sales reached 125000 units in 2017, with a sales revenue of 11.32 billion yuan. In the same year, Li Jianxin, then chairman of Changfeng Group, announced that he would restart the IPO process, planned to land in the capital market again, and set the goal of "achieving annual production and sales of 400000 vehicles by 2020, sales revenue of 40 billion yuan and net profit of 2 billion yuan" for Cheetah.

By 2018, however, cheetah sales began to fall sharply, with annual sales of just 77600 vehicles. In the first half of this year, Cheetah sold only 28300 vehicles. In January, Cheetah also announced a nationwide recall of 140000 CS10 vehicles due to quality problems, almost equal to the total number of major models sold in the past two or three years.

timg.jpg

Industry analysts believe that, in addition to the reasons for the overall decline in the car market, the main factors leading to the sharp decline in cheetah car sales are its lack of product development and innovation, lack of core technology and lack of marketing.

In order to save the decline, Changfeng Cheetah plans to set up a professional R & D team of new energy vehicles, plans a number of pure electric-based SUV models, will also strengthen the strategic layout of new energy vehicles, and plans to develop a new pure electric vehicle platform by 2020 and put into production in 2021.

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

Views: 0

*The comments in the above article only represent the author's personal views and do not represent the views and positions of this website. If you have more insights, please feel free to contribute and share.

Share To

Network commentsNetwork comments are only for expressing personal opinions and do not express the position of this website

Related

News

Wechat

© 2024 AutoBeta.Net Tiger Media Company. All rights reserved.

12
Report