Dongfeng reorganization blessing Fuqi come from


Dongfeng, which was originally completed in September last year, bought Fuqi as a whole and finally signed it on May 16. On May 14th, Dongfeng Motor was suspended from trading until May 15th, and the reason for the suspension was the failure to disclose the abnormal fluctuations in stock trading. This also indicates that Dongfeng’s reorganization of the blessing bus has officially kicked off the curtain. Dongfeng’s integration of blessing steam lasts for many years and the news finally drops its last boot.

It is understood that Dongfeng will get a 45% equity interest in Fuqi Group from the Fujian State-owned Assets Supervision and Administration Commission through a capital increase, and the remaining equity will still be controlled by the Fujian State-owned Assets Supervision and Administration Commission. When the new Fuzhou Auto Industry reaches 300,000 units, Dongfeng will further inject capital and share ratio. To 60%. As for the specific scope of the acquisition, the scope of this reorganization involves the passenger car business under the Fuqi Group, including the South East Car and the new Longma mini vehicle project launched by Xinma, both of which will be included in the cooperation between the two parties. Dongfeng will establish investment with Fuqi Group. The company is to achieve Southeast Automotive Holdings, a subsidiary of Fuqi. Xiamen Jinlong Bus and Fujian Mercedes-Benz and other commercial vehicle companies are temporarily out of the reorganization. Southeast Motors will be included in Dongfeng’s “autonomy” category, which is also considered to be the main purpose of Dongfeng’s acquisition of Fuqi.

The urgent need of Dongfeng's "great autonomy"

Compared with SAIC, FAW, and Chang'an, these domestic large groups, Dongfeng’s own-brand passenger cars can be considered as a major shortcoming of Dongfeng, and even more recently, they are more likely to be surpassed by GAC, if they are solely concerned with self-owned brand passenger cars (sedans). Sales, the east wind to accompany the final seat. The Fengshen A60, which was previously developed with the Dongfeng Nissan Sylphy platform, despite undergoing a push at the beginning of last year, was able to sell only 6,000 vehicles for nine months in the market, with an average monthly sales of less than 700 vehicles. According to incomplete statistics of the reporter, last year's sales of Dongfeng's own passenger car brand Fengshen only accounted for 1.99% of Dongfeng Group's overall sales.

Aeolus development is slow, but Dongfeng's plan is not low. The “Dry” D300 plan issued by the Dongfeng Group’s self-supplied plate requires the Dongfeng brand passenger car to reach an annual sales volume of 1 million units by 2016, and other autonomous vehicles ( The Yulon brand and joint venture autonomy will also have an annual sales volume of 1 million vehicles. In the remaining three years, it is necessary to make up for this huge vacancy and obviously make the Dongfeng "stressing."

In the next three to four years, the planned and planned South East Motor Company plans to achieve sales of 350,000 vehicles. In order to support this goal, in the past few years, the Southeast has been gradually improving the layout of its own brand products. When Southeast Automotive launched the Ling Yue V5 last year, the company exhibited a product plan. From this year onwards, V6, V4, V7 and the first SUV model DX5 will be introduced. The product planning is not only complete but also a series, and there is a play with Dongfeng Fengshen. Very different.

If placed in the category of "greater autonomy," plug-and-play Southeastern cars are undoubtedly attractive. After all, even if Southeast Motors had a bad situation in the past few years, there were 79,100 units of annual sales last year, much better than Dongfeng’s own Aeolus passenger vehicles. In the first four months of this year, Dongfeng Fengshen sold only 31,500 vehicles, while Southeast Motor’s sales volume reached 40,400 vehicles, which is nearly 10,000 more than Dongfeng’s Aeolus.

Need for business and business complementarity

Although Southeast Motor can contribute to the number of Dongfeng’s own-brand passenger cars, the problem is equally prominent. For the current Aeolus product line, the focus is on A-class vehicles. H30, S30, and A60 are all models of this size. , And the main model price between 62,800 and 94,000 yuan, displacement in the 1.5 ~ 2.0L. The Southeast Motor's product line is concentrated in the 56800~10.80 million, count Mitsubishi's product line, the Southeast Asian Automobile's main model of displacement is also in the 1.5L ~ 2.0L.

It can be said that the product lines of the two companies are almost all in one price range, and the product strategies are all cost-effective. In the market, two companies with the same three-line brand are competing for the same market segment.

The problem that the overlap of product lines may cause is the fight of their own products. The advantage is that if Dongfeng can effectively integrate its own system suppliers and adopt a sharing platform strategy, it will be able to realize maximum benefits and greatly reduce product costs, thereby increasing Dongfeng's own brands. Car overall product competitiveness.

In addition, the Fuqi Commercial Vehicle project, Qingjia Delica, is currently on the edge of the market. In the first three months of this year, it sold 681 units, a 48.7% decrease year-on-year. Unless Dongfeng has the ability to re-establish light passenger channels, it will still be difficult to improve in the short term.

Liu Weidong, deputy general manager of Dongfeng Motor’s own brand, told the media that Fuqi’s reorganization will be dominated by the Southeast Motor Corporation in the initial stage, and will gradually increase the integration of Fujian Daimler and Xiamen Kinglong in the latter part of the year. The southeast automobile stock involved is more complex than the other. It is jointly invested by Fuzhou Automotive and Taiwan Yulon’s China Motors and Mitsubishi Motors. At present, Dongfeng Motor and Taiwan Yulon have also launched the Dongfeng Yulon brand and will later be included in Dongfeng Motor’s own brand camp. There is also the possibility of adding a Southeast brand.

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