“Before Dameilin, Raozi, and Gansu can quench their thirst.†It seems that Cao Cao's “look good for the thirst†in the early years of Eastern Han Jian'an. Chairman Yin Tongyao of Chery described the grand plans for 15 new models of the four major brands in the year of 2009.
Now more than half of the time, three of the four wheels of the Chery "Chariot" still have not yet functioned. In addition to the Chery brand maintaining a good trend under the overall demand of the auto market, the single vehicle structure and chaotic development model under the Ruiqi, Weilin and Kai Rui brand have delayed Yin Tongyao’s “radical†plan once again.
Chery, whose funding is extremely scarce, and its "Great Leap Forward" expansion plan are intertwined with the reorganization of Jianghuai Automobile , leaving Yin's prospects uncertain.
Wei Lin V5 frequently changed its name
On June 26th, under the Chery expansion plan, QQme was listed at a price of 55,000-6.2 million yuan, continued to enrich the QQ series product line, and became the most expensive model of the Chery minicar family. At this point, Chery's three micro-car series - QQ, A1 and Ruiqi M1 - have already formed direct competition for price, configuration and target consumer groups.
From the current situation, during the first half of 2009, Chery's market work is still mainly concentrated in the mini vehicle market. Although Ruiqi G6 (originally planned to be named “Chery A6â€) and Ruiqi G5 have been offline in March, it is understood that the time to market of Ruiqi G6 and Ruiqi G5 is tentatively scheduled for September to October.
In early June, the first 7-seater sedan V5 under the Wei Lin brand was launched. It is reported that the Weilin V5 was listed on the Chery V5 in August 2006 and entered the market with the hybrid concept of Crossover. The Chery V5 was later renamed "Eastern Son Cross," but it has yet to get rid of the embarrassing situation of selling only a few hundred vehicles a month. During this year's Shenzhen Auto Show, General Manager of the Chery Sales Company, Ma Dezheng, told the Times Weekly that Chery’s renamed this model several times was not an adjustment made to the market sales situation, but that the Wei Lin brand was more suitable for the positioning of this model.
However, industry insiders said that the continuous rebranding of Weilin V5 reflected the predicament of Chery under aggressive brand and product planning. As it is difficult to ensure that all models can achieve market success, they are constantly renamed for sales. The health care products industry is similar.
The data shows that the sales of the Chery A1 and Raychem M1 that were listed in the first half of 2009 were not optimistic. In May, the Chery A1’s sales increased slightly from 704 units in April to 784. After sales of 300 units in the first month of the Ruiqi M1, which was listed during the Shanghai Auto Show in April, sales of 989 units in May were still difficult to see. improvement.
Or with JAC
According to plans made by Chery at the beginning of the year, the four brand product lines will transition from low-end models to high-end models. In addition to QQme and S18 Wuwa series of micro-vehicles, the use of Oriental Sons platform will also have three models released, respectively, for the mid-level market, three-box sports car market and large commercial vehicle market. At the same time, the Fengyun 2 generation with the 1.5-liter 477F engine and the Chery's first four-wheel-drive SUV Weilin X5 will also be on the market.
However, by the end of the first half of the year, progress has not been smooth. According to media reports, the recruitment and construction process of the dealers of Ruiqi and Weilin brand is very slow. Chery’s deputy general manager and spokesperson Jin Yubo said that the sales network under construction of Rui Qi and Wei Lin has reached 150, of which nearly 80 have already started operations. Taking into account the future development of Ruiqi and Weilin brand, in the last year or two, the number of dealers of Rui Wei and Wei Lin will reach 200-300.
Jin Yibo said that 2009 was Chery’s “layout year.†Despite being questioned by Chery’s development model and product strength, Chery’s development strategy and determination will not change.
However, since Chery’s lack of funds is already an open secret in the industry, industry insiders believe that Chery has no strength to build multiple brands, and Yin Tongyao’s plan is to look forward to the thirst or have other plans.
There are rumors that Anhui Province is promoting the reorganization of Chery and JAC into Daan Steam. From the perspective of the reorganization of SAIC and NAC, GAC and Changfeng, the chairman of the reorganized party has been removed. It means that there is at least one person left between Yin Tongyao and JAC Chairman Zuo Yan'an. Compared with Yin Tongyao, Zuo Yan'an is also an entrepreneur who insists on self-development. It is precisely because of the persistence of its own brand that Jianghuai and Hyundai recently reached a joint venture with Hyundai. Hyundai and Beiqi, a company that promised to give up control, set up a joint venture. Beijing Hyundai. Therefore, compared with the development of healthier Jianghuai cars, Yin Tongyao did not have the upper hand in the contest with Zuo Yan'an.
Always seek financing
On June 3, in response to reports from overseas media, Chery issued an official statement entitled "Capitalizing for Financing and Seizing Development Opportunities." The statement said that Chery Automobile Co., Ltd. and China Financing Assets Management Co., Ltd. and other five major domestic excellent investment institutions have reached cooperation to smoothly introduce development funds of 2.9 billion yuan. These funds will be mainly used for Chery's new energy projects, heavy truck projects and the four-car project under construction.
This statement once again made people worry about Chery’s funding situation. Chery had already tried twice for listing financing. At the beginning of 2004, Chery’s willingness to go public for the first time, but the plan was shelved at the end of the year. At the end of 2005, Chery launched the listing plan again. After entering the mentoring period, as the domestic market has lost the IPO financing function, at the end of August 2008, Chery’s listing plan reaffirmed its abandonment.
After listing and financing blocked, the end of 2008, Chery has won the Bank of China and the Export-Import Bank loans, which the Bank credit line for Chery from 25 billion yuan to 3.5 billion yuan, China Eximbank and Chery more Signed a loan agreement of up to 10 billion yuan.
In the face of frequent financial catastrophes, Chery has been repeatedly bumpy in its search for joint ventures and cooperation. It is reported by foreign shareholders in US companies in order to reduce the quantum of investment amounted to a bargaining chip, Chery's equity share from 55% to 50% reduction in lost controlling interest in the joint venture, Chery Quantum. Several years after Chery initiated the joint venture project, the Chery-Chrysler project and the Chery-Fiat project had no results.
In November last year, Anhui Province also sent a working group of key enterprises with more than 20 provincial departments, including the Provincial Development and Reform Commission, the Economic Commission, the Department of Finance, and the State-owned Assets Supervision and Administration Commission, to work in Chery for one-year support.
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