However, not all independent car companies make money by selling their own cars. The existence of joint venture car companies actually distributes some profits to independent car companies. Based on the financial reports of car companies, we can see the dependence of independent brands on joint venture car companies.
At the end of March this year, BAIC released the financial report data for 20 19, of which the operating income of BAIC reached1746.33 billion yuan, up14.95% year-on-year; Gross profit reached 37.487 billion yuan, a year-on-year increase of 65,438+0.30%; The net profit attributable to the parent company was 4.083 billion yuan, a year-on-year decrease of 7.83%.
In terms of brand, Beijing Auto now has two core businesses: Beijing Brand and Beijing Benz. Among them, the total operating income of Beijing brand in independent business segment was 65.438+09.607 billion yuan, a year-on-year increase of 65.438+07.87%; Gross profit was-4.728 billion yuan, and the loss scale increased by 34.47% compared with the same period of 2065438+2008.
On the other hand, in the joint venture business, the sales volume of Beijing Benz in 20 19 reached 567,000 vehicles, up by 17% year-on-year, and the revenue was15565438+54 million yuan, up by 14.58% year-on-year, but the gross profit only increased by 4/kloc-0 year-on-year.
From the combination of the two data, it is not difficult to find that Jingpai 20 19, as an independent brand, wholesales167,000 passenger cars, but it loses 4.728 billion yuan, which is equivalent to a loss of more than 20,000 yuan when selling a car.
Beiqi Benz not only sells more than three times as much as its own brand, but also has a gross profit of 42210.50 billion yuan. In other words, every time BAIC sells a Mercedes-Benz, it can make a net profit of about 74,453 yuan. And this part of the profits, or by Daimler AG after the remaining part of the profits.
On the whole, in 20 19, * * of BAIC owned four business segments (Beijing Brand, Beijing Benz, Beijing Hyundai and Fujian Benz), and the cumulative sales reached14.25 million vehicles. However, independent brands only provided 167000 vehicles, accounting for only 1 1.7% of Beijing's automobile sales.
Although the overall sales volume and operating conditions of BAIC are good now, the performance of BAIC's own brands is weak, and neither Jingbao D50 nor Beijing X3 nor Zhixing has reached the expected level. Whether it is technology, design or production management, the slogan of "market for technology" still has a long way to go.
In fact, BAIC is not the only company that relies on the joint venture company to "eat". As a large domestic sales volume, Dongfeng Motor Group owns several joint venture brands, including Dongfeng Honda, Dongfeng Nissan, Dongfeng Citroen, Dongfeng Peugeot, Dongfeng Renault, Dongfeng Da Yue Kia, Dongfeng Ying finidi and Dongfeng Yulong Nazhijie.
On the other hand, in terms of independent brands, there are only five independent brands: Qichen, Fengshen, Fashion, Scenery and Grace. Regardless of sales volume or influence, Dongfeng's own brands are hard to match the joint venture brands.
Therefore, relying on several major brands at home and abroad, the cumulative sales volume of Dongfeng Group in 20 19 reached 2.932 million, the sales volume of joint-venture passenger cars reached 2140,000, and the sales volume of independent passenger cars reached 323,000. It is understandable that the joint venture vehicle is still the main body of Dongfeng Group.
Among them, the cumulative sales volume of Dongfeng Honda was 788,900 units, up 65,438+03.2% year-on-year; The cumulative sales volume of Dongfeng Nissan is1170,000 vehicles, up by 0.3% year-on-year. These two joint venture brands also form the foundation of Dongfeng Group.
Renault's sales volume in 20 19 was only 18600, down 62.87% year-on-year; The total sales volume of Citroen and Peugeot is only 654.38+0.65,4.38+0.36 million, down by 55. 17% year-on-year. The decline in sales of these three joint venture brands is also a major reason for BAIC's limited profits.
1.3495438+0 billion yuan, Dongfeng Honda alone brought a profit of 4.71.60 billion yuan to Dongfeng Group, and another part of the profit was provided by Dongfeng Nissan. It can be said that relying on these two joint venture car companies, Dongfeng Group earned a lot of money.
Dongfeng attaches great importance to its own brands, such as brand-new popular T5/T5L, Fengshen Yi Xuan, brand-new Shen Feng AX7 and Qichen Star, which shows that Dongfeng Group wants to enhance the presence of its own brands.
However, although its five brands have sold more than 40 models, their total sales last year were less than 500,000. For Dongfeng Group, the operation of independent brands is not a one-off event, but also requires continuous investment in the future.
Coincidentally, with the establishment of BMW Brilliance in 2003, the once shameful "BMW Brilliance" trailer was accepted by more and more people, and domestic BMW became synonymous with Brilliance. Few people think of their own brand-Brilliance China.
This can also be seen in BMW Brilliance's financial report. The net profit attributable to shareholders of Brilliance China in 20 19 was 6.762 billion yuan, an increase of 16. 18% compared with 58.2 10 billion yuan in 20 18. In the winter of 20 19, it is not easy for BMW Brilliance to rise against the trend.
But from the specific point of view, although the net profit of Brilliance China is 6.762 billion yuan, the net profit of BMW Brilliance in 20 19 has reached 7.626 billion yuan. In other words, excluding the profit contributed by BMW Brilliance, the actual loss of Brilliance China was nearly 654.38 billion yuan.
Although Brilliance China didn't mention Brilliance China in its financial report, as a car company with relatively single brand vein, apart from BMW, only Brilliance China and brilliance jinbei are left. Nowadays, brilliance jinbei's production, marketing and investment have been reduced to a very small share, and this loss hole of 654.38 billion yuan is largely caused by independent brands.
Today, Brilliance Auto has only three models on sale, all of which are SUVs. However, both China V6 and China V7 can't escape the trace of BMW. BMW's appearance, engine and domestic price all sound attractive.
But unfortunately, at the moment when information is developed, such gimmicks have been unable to impress consumers. Now many independent brands have independent research and development capabilities, and the gap between them and joint venture models is getting smaller and smaller in the three major parts. Therefore, the sales of Brilliance China today are also very bleak.
According to the original intention, the purpose of the joint venture is nothing more than "exchanging market for technology". With the huge market of China, joint venture car companies can get some profits. Independent automobile companies can learn the technology, management and manufacturing technology of joint venture cars, and can also take part of the profits and further invest in R&D and production.
However, this benign development phenomenon did not happen as scheduled. Now many car companies are caught in the dilemma of "joint venture cars make money and independent cars lose money". As a result, in order to stop loss, the investment of independent brands can only be reduced, which leads to the decline of R&D capacity and output of independent brands, and finally forms a vicious circle.
On the other hand, most of the profits of Geely, Great Wall, Chery, BYD and other car companies depend on their own business, which has achieved two-way progress in technology and profitability. And such a positive example also tells us a truth, that is, independent brands can not rely solely on joint venture brands to find a way out.
Therefore, in general, it is definitely a good thing for independent car companies to make money through joint ventures. The only problem that needs to be solved is how to make good use of such good resources at hand and avoid falling into such a day of "muddling along and waiting for death" by relying on the huge profits of joint venture car companies.
In fact, joint venture car companies have not brought about benign progress. At present, many car companies learn from the system established by joint venture car companies in manufacturing technology and production management, and even build their own cars by reversing them in the early days.
But after these years, many car companies have not turned the advanced experience of joint ventures into their own things, but adopted the elimination technology copied directly from joint venture car companies. This can be seen from China V7' s BMW Prince engine and Qichen's Nissan engine and gearbox.
The reason why some self-owned car companies are so unscrupulous is that the automobile industry policy of 1994 stipulates that "the Chinese side should hold no less than 50% of the shares in Sino-foreign joint ventures and cooperative enterprises that produce automobiles, motorcycles and engine products". This iron law also protected the fragile national automobile industry at that time.
However, on June 28th, 20 18, China issued the Special Management Measures for Foreign Investment Access (Negative List) (version 20 18), which cancelled the limit of 50% of the joint venture shares. This also means that the days when autonomous car companies are lying down to make money have shown signs of loosening.
On June of that year, 65438+1October 1 1, BMW Group officially announced the acquisition of a 25% stake in BMW Brilliance, which will increase its shareholding in BMW Brilliance to 75%, with a transaction price of 3.6 billion euros (about 28.8 billion RMB). This is also the first car company to take the lead in adjusting the joint venture share ratio.
Nowadays, it is a foregone conclusion to adjust the ratio of foreign shares, which also means that after nearly 30 years of protection and development, independent car companies have now reached the stage of elimination and are facing a major reshuffle. If the acquired car companies do not make achievements in their own brands, they are likely to withdraw from the market in the future.
In addition, Dongfeng Motor's financial report mentioned that the decrease in income was mainly due to the decrease in government subsidies and the decrease in external bank deposits, resulting in a decrease in interest income. In the future, with the further reduction of government subsidies, it can also largely prevent some car companies from living on subsidies and joint venture car profits and giving up investment in their own brands.
At present, dozens of domestic independent brands are not birds of a feather, and now many independent car companies rely on their own brands to make profits. Therefore, in recent years, the gap between domestic brands will become larger and larger, thus forming the first echelon. It is also a prospect that we prefer to see that we can rely on the survival of the fittest to screen out a number of good independent car companies and models.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.