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"When I wait three years, Huizhong will be among the top three in the nation's heavy truck industry as part of SAIC's own brands." The high-level commercial vehicle manufacturer Shanghai Huizhong Automobile Manufacturing Co., Ltd. recently told the China Business News: "Although Now there is still a big gap between FAW, Dongfeng, CNHTC, Futian, etc., but we are confident.
Commercial vehicles are also independent brands
On December 4th, Shanghai Automotive announced that the company had been approved by the China Securities Regulatory Commission to issue six-year convertible bonds with no more than 6.3 billion yuan in value; the controlling shareholder SAIC Group pledged to exercise its preferential subscription rights, with a minimum subscription of 800 million yuan. , that is 8 million. According to the announcement, the funds raised from the issuance will be mainly used for the investment in the construction of self-owned brands, the development of complete vehicles and engine products, and the construction of technology centers. This move undoubtedly demonstrates Shanghai Automotive’s firm determination and full confidence in independent innovation. This includes not only independent innovation in the field of passenger vehicles, but also means that it is necessary to proactively develop and develop its own brand in the commercial vehicle sector.
"Although the parent company SAIC also owns a new commercial vehicle project - SAIC Iveco Hongyan Commercial Vehicle Co., Ltd., but Huizhong, as an important part of its own brand, will accelerate its development in the next three years. We are confident that we will be among the country three years later. The top three in the heavy truck industry.†Shanghai Huizhong was recently held at the “2007 Shanghai Huizhong State III Heavy Truck Promotion Conference†co-sponsored by Shanghai Huizhong, Weichai Power, Hangfa Power, Shangchai Power, and Hyva Machinery. Zhao Xudong, deputy general manager, vowed to tell reporters.
In fact, the current growth rate of production and sales in the commercial vehicle market has exceeded that of passenger cars. From January to September of this year, the production and sales of commercial vehicles nationwide reached 1,889,400 and 1,875,500 vehicles respectively, an increase of 26.04% and 26.01% over the same period of last year. However, for SAIC and Huizhong in particular, "the first three years of heavy trucks" are clearly in dire straits.
According to statistics, in the heavy-duty truck industry, Shanghai Huizhong’s heavy-duty trucks sold less than 1,000 vehicles in 2006 and ranked 10 in the industry. The heavy-duty truck FAW has liberated Aowei, Converse and Denway. A series of 34 products. From 2003 to 2006, FAW Jiefang has sold 458,000 vehicles, realized sales revenue of 94.5 billion yuan and profit of 3.65 billion yuan, becoming the fastest growing self-owned intangible assets in China and the first brand of domestic automobiles.
In this regard, Zhao Xudong stated that although Huizhong currently has a low starting point, with the completion of a series of actions by SAIC Motor's sister company, Shanghai Electric Co., Ltd., which will be incorporated into Shanghai Electric (engine supplier), the company will have confidence in achieving annual production. 20,000 to 30,000 heavy trucks.
The overall idea of ​​SAIC commercial vehicle
According to statistics from the China Association of Automobile Manufacturers, domestic commercial vehicle sales exceeded the 2 million mark for the first time in 2006 and climbed to 2.04 million, a year-on-year increase of 14.23%. Among them, annual sales of heavy trucks increased by as much as 31%. Although in this market, Dongfeng, FAW Jiefang, CNHTC and Foton Motors and other companies are more active than Shanghai Automobiles, but Shanghai Automotive has already made efforts to supplement itself with its successful experience in passenger vehicles and industrial resources. The “short board†is trying to make an afterthought and gradually expand and strengthen the field of commercial vehicles.
On June 15 this year, SAIC Iveco Hongyan Commercial Vehicle Co., Ltd., a joint venture company invested by Shanghai Automotive, Italy Iveco Commercial Vehicle Co., Ltd. and Chongqing Heavy Vehicle Group Co., Ltd., was listed in Chongqing. It is reported that this joint venture company mainly engaged in production of heavy trucks has a registered capital of 1.3 billion yuan, of which SAIC Iveco Commercial Vehicle Investment Co., Ltd. (Shanghai Automotive and Italian Iveco 50:50 joint venture) accounts for 67% of the shares. 33% of shares, operating for 30 years.
Since then, Shanghai Automotive has issued two announcements on July 30 and September 27 respectively. The former stated that the controlling shareholder SAIC is exploring with the controlling shareholder of Nanjing Automobile Group Co., Ltd. Yuejin Automobile Group about the possibility of comprehensive strategic cooperation in the fields of vehicle, auto parts and auto service trade. The latter said that SAIC has signed a letter of intent for share transfer with Shanghai Electric Group Co., Ltd. and Shanghai Electric intends to transfer its holding of Shanghai Diesel Engine Co., Ltd. to SAIC Motor or its designated subsidiary company approved by Shanghai Electric. 50.32% of shares.
This series of actions this year shows that SAIC Motor and SAIC are interested in strengthening the commercial vehicle business and expanding the related production capacity by seeking new partners and controlling upstream component suppliers.
According to Qi Xianmin, economic operation manager of Shanghai Automotive Commercial Vehicles Division, the current thinking of Shanghai Automotive's overall layout in commercial vehicles is to continue to develop passenger vehicles while actively developing commercial vehicles, especially through mergers and reorganizations and self-development. In order to realize the large-scale production of commercial vehicles, the company has gradually changed from a passenger vehicle to a passenger vehicle and a commercial vehicle at the same time. This has enabled SAIC Motor to become a full-range model for passenger cars, commercial trucks, commercial buses and off-road vehicles. Car maker.
However, Mr. Yan Xianmin did not comment on the fact that SAIC's old GM wanted to join forces with FAW to enter the commercial vehicle sector.
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