Commercial vehicle market "cold winter" as early as the manufacturers to integrate cold
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This year, the commercial vehicle market continues to be sluggish. Not only is it a distributor, but the manufacturers are still having a hard time.
Jiangling Motors' 2012 semi-annual report shows that in the first half of this year, it sold a total of 102,600 complete vehicles, which was a year-on-year decrease of 3%, an estimated revenue of 8.7 billion yuan, a year-on-year decrease of 5.0%, and a net profit of approximately 820 million yuan, a year-on-year decline of 24.2%.
Jiangling Motors is not the only company with a declining net profit. Judging from the pre-warnings of semi-annual reports disclosed by listed companies, commercial vehicle companies have seen a decline in net profit in the first half of the year. “In the first half of the year, the domestic heavy-duty truck market saw a decline of nearly 30%. The actual demand was 510,000, a year-on-year decrease of 180,000, a 27% drop. “Truck demand is a barometer of the macro economy. In the event of changes in the economic environment and other factors, the industry will emerge as a new round of integration with the European and American markets. Huang Gang, general manager of Dongfeng Commercial Vehicle Company, stated at the mid-2012 working conference.
The advent of cold winter for commercial vehicles not only reduced the performance of Jiangling Motors, and the performance of the commercial vehicle industry, CNHTC, made investors see the “cold†of the commercial vehicle industry.
A few days ago, China National Heavy Duty Truck released a sales report showing that from January to May, China's heavy-gas production and sales were 35,700 and 32,500, respectively, a sharp drop of 37.05% and 36.90% respectively. China National Heavy Duty Truck Corporation also issued an early warning announcement for the first half of 2012. According to the announcement, the company’s cumulative net profit for January 2012 to June is expected to decline by 50% to 100% from the same period of last year.
This is not the first time China National Heavy Duty Truck has announced anxious figures. Its 2011 annual report shows that operating revenue for the year was 26.059 billion yuan, down 9.84% year-on-year, and net profit was 362 million yuan, down 46.13% year-on-year. The cumulative sales volume reached 101,000 units, a year-on-year decrease of 7.97%.
Since 2011, the overall market performance of commercial vehicles has continued to be sluggish, especially trucks. According to data from the China Association of Automobile Manufacturers, in 2010, commercial vehicle sales totaled 4.0327 million units, a year-on-year drop of 6.31%, the highest drop since the turn of the century.
This year's commercial vehicle market continued last year's downturn.
A number of industry sources interviewed by reporters said that the downturn of commercial vehicles was mainly due to the weakening of the demand effect of investment-driven commercial vehicles. The industry is shifting from policy-stimulating growth to an autonomous growth model. In addition, the cost of road transport and the price and supply mechanism of gasoline and diesel have been suppressed. The expansion of the commercial vehicle sales market. "Currently, the performance of the commercial vehicle market has not yet reached the bottom. The investment in the commercial vehicle segment also has to wait for an opportunity," said Zhang Le, chief auto analyst at GF Securities.
The opening of integration Huang Gang believes that China's truck market is also highly related to the macro economy. In the past ten years, the domestic medium and heavy trucks have grown by more than 300%. This should be due to the rapid growth of GDP. However, now that the Chinese economy has entered a new phase, the industry environment is constantly evolving, including emissions regulations that are the same as those in Europe. In addition, the transportation industry is also integrating the industry. The operating costs of truck companies are increasing, and the technical costs brought about by raw materials, labor, and regulations, etc., have brought great challenges.
“At the same time, it is also an opportunity. Over the past decade, the number of domestic medium-sized truck manufacturers has grown from 24 to 33 last year, and the scale of production capacity has increased by 300%. But if the market does not grow in the future, will 33 companies survive? The truck market industry is integrated. The cause of integration is changes in market size, emissions, technical regulations, and overcapacity and competition. Therefore, when this environment changes, it will have an industry consolidation.†Huang Gang said.
Recently, this integration has begun. Jiangling Motors has just acquired Taiyuan Changan Heavy Duty Truck Co., Ltd. for its successful integration.
"In the future, if the commercial vehicle market continues to slump, the number of integrated cases will increase as the relevant policies of the state encourage car manufacturers to withdraw." An industry source told reporters.
The reporter learned from a commercial vehicle company in Shanxi that the company has suffered losses for several consecutive years in order to seek new growth points for the company, not dragging down other main businesses. This group has already negotiated with several large commercial vehicle companies in China. .
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