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In the face of the continuous cooling of the automobile market, and with the gradual saturation of the domestic automobile industry, many automobile companies are facing the situation that they are about to be eliminated. A few days ago, the media revealed that after the court conducted an asset investigation on Huatai Motor, it was found that the value of only one car remained on the company's books. Who would have thought that the nearly 20-year-old carmaker would end up like this?

According to the property investigation conducted by the Tianjin Binhai New area people's Court on Huatai Automobile Group, all its subsidiaries have been pledged, and all the shares of listed companies held have been frozen. All bank deposits under Huatai Automobile Group add up to only 132239 yuan, and there is no other property available for enforcement. Huatai Automobile and several subsidiaries are listed as untrustworthy executors.

In fact, Huatai Motor has been exposed various problems many times, all of its four production bases have stopped production, all employees have been evacuated from headquarters and factories because of wage arrears, and a few 4S stores have basically closed down, leaving the enterprise desolate.

Huatai Automobile, founded in 2000, can be said to be one of the earliest independent brands. In cooperation with Hyundai in 2003, it launched a highly cost-effective off-road vehicle, Traka, which became popular in China and sold 15000 in that year; in 2005, it introduced Santa Fe and changed it to Santa Fe, which has been repercussive since it was launched. Huatai has sold 135000 cars with this model, accounting for more than 65% of the company's sales.

In fact, Huatai Automobile is not without glory, it is just the first company in China to produce SUV models, and its sales are on a par with Geely cars. However, Huatai Automobile, which tasted the benefits, did not continue to focus on technical research, but will successively acquire land to build production bases in Rongcheng, Ordos, Tianjin, and Jiangyin, and obtain bank loans and issue trusts to raise funds through mortgaging the land. in the end, it accumulated a huge debt, totaling 29.4 billion yuan.

However, high debt at the same time, there is no hematopoietic function, with Santa Fe's old capital has been sold so far, the product is still the same set of technology, the appearance is only a copycat modification, how can consumers pay for this?

According to Huatai car sales data queried online, the first half of the year is on a downward trend, with 84 units sold in August this year. However, Huatai is not a listed company and does not need to disclose its financial data, but monthly sales data need to be reported to the China Association of Automobile Manufacturers. In May 2011, the China Automobile Association refused to adopt its sales figures and replaced them with "0" because Huatai Motor had long misrepresented its sales figures. As a result, sales are a mystery in the industry.

It was hoped that with the new energy policy, Huatai Motor acquired dawning Motor from the second half of last year to the first half of this year. At the same time, it was hoped that through the reorganization with dawning, and then with the help of new energy vehicles, it would be listed backdoor, but now it seems that there is not much hope.

Since July this year, Huatai automobile capital chain has broken. All the four major factories in Rongcheng, Shandong, Ordos, Inner Mongolia, Tianjin Binhai and Jiangyin, Jiangsu have stopped production, and a large number of employees of the group have left.

Because these four factories are all used as collateral in the coal mine and financial fields invested by Huatai Automobile, Huatai Automobile is now heavily in debt, not to mention that the 130000 yuan on the account cannot be guaranteed if enforced by local courts. Even the four major factories that have stopped production will be auctioned off to repay the debt.

2019 is not only a closed year for the new power of Internet car-building, but also a reshuffle year for traditional car companies to survive the fittest. For enterprises such as Huatai and Haima, which are not in awe and focus in the automobile industry, I am afraid they are about to collapse in this cold spell of the auto market.

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