Into the commercial vehicle market general intention to FAW Hongta
10 years ago, General Motors Joint Venture SAIC was an instinctive reaction of multinational companies out of the Chinese market; the joint SAIC acquisition of Liuzhou Wuling and South Korea's Daewoo five years ago was due to the consideration of increasing the market share and market share of the Far East and China; The expansion of shares of SAIC-GM-Wuling in search of a second partner is due to global competition.
Wagner's different strategic considerations for the three phases of the Chinese market reflect the changing climate of the automotive industry in China and even in the world.
Rumors about GM's resistance to Toyota have been mixed. The prevailing view in the global industry is that GM can't stand it anymore. Being overtaken by Toyota is only a matter of time.
In the face of Toyota’s aggressiveness, General Motors CEO Wagner seems unwilling to wait for the fate of the verdict. Recently, it was reported that Wagner, who tasted sweet flavor from SAIC-GM-Wuling’s cooperation, is authorizing GM China and FAW Red Tower to secretly discuss shares. The current contact has been transferred from the “business development†department of GM China to the “business development†department.
“The biggest problem at the moment is that GM has no resources for commercial vehicles to support the development of FAW Hongta. Therefore, it remains to be seen whether an agreement can be reached in the end,†a core person at GM told reporters. For various reasons, we have the right to call this person "Mr. A."
For the general share participation in FAW Hongta, on the morning of November 29, the reporter called General China. The other party replied that "General Motors has been looking for new business development opportunities in China, and it is inconvenient to take a stand when the time is not ripe." On the same day, the feedback from the FAW Hongta Office was, "At present, no comments have been received."
Copy Wuling Mode
According to Mr. A, the biggest reason that General Motors sees FAW Hongta is that GM lacks the resources for commercial vehicles and has no chips to cooperate with globally renowned commercial vehicle manufacturers. Therefore, it can only seek cooperation with Chinese companies and develop local brands. .
From the current development trend of the domestic commercial vehicle market, the alliance between commercial vehicles and international auto companies has become a trend. Among the three major groups of FAW, Dongfeng and SAIC, the latter two commercial vehicle projects have been strategically formed with international auto companies. alliance.
Among them, Dongfeng Commercial Vehicles has been included in the joint venture with Nissan, and cooperation negotiations with VOLVO are underway. SAIC is also working with Iveco to enter the heavy truck sector. FAW is the only one of the three major groups that has not yet formed an alliance with international auto companies in the area of ​​commercial vehicles.
In order to facilitate negotiations with FAW Hongta and other potential partners, GM has already excavated a number of professional managers from FAW and FAW Red Tower in advance from other companies.
Mr. A said that GM’s cooperation with Hongta will possibly duplicate the “SAIC-GM-Wuling†model: obtaining a certain share ratio through capital investment, to make up for blank areas, and enjoy the rapid growth of the Chinese auto market.
In 2002, GM cooperated with SAIC and obtained a 34% stake in Guangxi Wuzhou Wuling through capital injection. Although GM does not have off-the-shelf micro-vehicle technology and products, SAIC-GM-Wuling has become the largest micro-vehicle manufacturer in China through technical and management support.
"GM China has included Liuzhou Wuling's production and sales in its sales report, and it does not rule out its operation in the commercial vehicle sector." Other market analysts believe that.
JV partners looking for seven years
General Motors is a flag of American cars. Toyota's rapid growth in the North American market for many years has caused Wagner to feel unprecedented pressure in recent years. Wagner is clear that to maintain its position as the world’s largest global auto company, it must acquire more shares and performance in markets other than mature markets such as North America, Europe, and Japan.
According to the U.S. General Global Strategic Plan, its goal in the Chinese market is to have a 15% market share. In 2006, GM sold 876,747 vehicles in China. And Wagner, chairman and chief executive of General Motors, said that the company’s sales in China this year are expected to increase by about 20% from the previous year. Based on this calculation, the sales volume of GM in China in 2007 was about 1.05 million.
According to the forecast of the National Information Center, China’s total automobile output will reach 8.6 million, import 220,000, and export 520,000, and domestic sales are expected to be 8.3 million. Based on this calculation, GM’s current market share in China is between 11-13%. There is still a certain distance from the 15% sales target.
Therefore, Wagner is not satisfied with the current market share and double-digit growth of GM in China.
"The biggest problem GM faces in China at present is where the future growth will come from." Mr. A told reporters that GM's two major subsidiaries in Shanghai, Shanghai GM and SAIC-GM-Wuling, have already become the first in the market in their respective market segments. It is very difficult to further expand market share, so GM can only expand from other aspects.
Commercial vehicles have become the most realistic choice. Mr. A told reporters that after 2000, General Motors had been seeking development in the commercial vehicle industry in China. Therefore, it had contact with Jiangling Motors, Yuejin Automobile and SAIC Group respectively. In 2005, General Motors also had contact with Jianghuai Automobile, but All these contacts ended without results.
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