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Since 2002, the bus industry has started a wave of restructuring. By 2003, this wave was not only intensified, but also the way it was reorganized became increasingly dazzling. There are auto giants through vertical integration. Entering the passenger car industry; there are bus bosses to expand and merge in order to expand the market; some companies are on the verge of losses, looking for home appliance industry capital Xishou was acquired by the country; also have truck companies to do passenger cars, off-road vehicle companies as passenger cars. Trying to figure out such a variety of reorganization cases has caused many questions about life:
Has the reorganization led to a reduction or increase in passenger car production? Has the restructuring increased the competitiveness of bus companies or weakened it?
Has the reorganization revived the good assets or allowed the scrap assets to re-emerge?
Does the new entrant really make a bus or a passenger car?
Starting from this issue, the newspaper will launch a series of reports on the “Reform of the Bus Industry in 2003: Problems with Cold-Scrutiny Reviewâ€, scanning different reorganizations in 2003 from different perspectives, and looking at the intriguing implications behind the lively reorganization.
Just as people talked about home appliance companies entering the bus industry to seek growth, some truck companies have also entered the passenger car industry. After the joint venture with Nissan, Dongfeng Motor Co., Ltd. has settled the production of mid- to high-end passenger cars in Dongfeng-Hangzhou Automobile Co., Ltd. It is a foregone conclusion: JAC and Ankai have also restructured from intangible assets to tangible assets. North Benz has established a joint venture in Yantai with people to build a base of 3,000 buses each year. Shanghai Huizhong built buses have also been introduced to the market this year. Before them, FAW, CNHTC, Shaanxi Auto, and Foton have successively crossed the threshold of man-made passenger cars.
These truck-oriented companies are involved in the passenger car field. Bringing Lai is not only capital. More is the matching resources of technical resources and bus masters.
Truck giant doesn't want to be a big man
The development of passenger cars is due to the truck chassis. The development of key technologies for passenger cars complements the trucks. The passenger car in China is “snapping†a “shell†on the chassis of the truck. The earliest truck production plant is the earliest coach chassis factory. Only then did some bus companies develop buses. Began producing its own chassis for buses. The original passenger car chassis was 100% from companies such as Dongfeng and FAW. Today, it is only about 45%. The market share of chassis suppliers is declining year by year. There is a set of data to support this. At the end of 2001, the disk vendor's market share was 54%, in 2002 it was 49%, and in September 2003, the market share was 45.5%. The declining market share has caused large groups such as Dongfeng and FAW to feel that the passenger car chassis's outlook is not good. The reporter learned from a chassis manufacturing company that the large chassis users such as Yutong and Xiamen Jinlong have produced their own chassis, which has reduced the company's annual chassis sales by more than 3,000 units. The loss is undoubtedly huge.
“From the cost point of view, the cost of bus companies to produce their own chassis is higher than the cost provided by the chassis supplier. Why can more and more bus companies have to produce their own chassis?†The reporter once proposed this to the boss of a bus company. Doubts. "Making a chassis can make a profit." The CEO's answer is simple. Because of the supply of such a few chassis plants, the price of the chassis can not anyone who can not. Only the production of the chassis itself can form product differences, in order to make profits.
Chassis plant has "scale" and no economic benefits, bus factory knocks and hits, equipment requirements are not high. And there are more and more profitable factories. therefore. Some people joked that such big groups as Dongfeng, FAW, and JAC are "big heads." Businesses can't always be "big heads". They only know how to marry someone else. The benefits are taken away by others. They can't accumulate capital. On the bus seems to have become an inevitable choice.
Production resources are competitive chips
Dongfeng, FAW and CNHTC, Shaanxi Automobile, and North Benz are truck-based companies. The production of passenger cars can change the single product structure. It can also make full use of upstream resources and idle resources, and can also increase the total sales of their cars. In terms of resource availability and production and operation costs, they do have advantages that other new entrants have unparalleled.
From the analysis of each node of the bus value chain: At the top, the group has domestically advanced and related components to ensure supply; in the middle, it is the chassis production and product development that can best reflect the performance of passenger cars. These entrants' technologies are undoubtedly the leading ones; the lower end, the establishment of many years of truck supporting systems, has made services, accessories and information networks spread all over the country; it looks like the value is almost perfect.
This live asset is another purpose of the big group
Everything has two sides. It seems that truck companies make passenger cars can make full use of their internal resources, so that the company's resources are optimally configured. Actually, there is also a "Gate of Life" that is most concerned about Dongfeng, FAW, Jianghuai and other chassis suppliers. Any remaining link in the vertical chain may have surplus production capacity. This part of the remaining products must be sold on the market, otherwise it will bear a certain cost pressure. According to Dongfeng and FAW passenger car chassis production capacity, At least 20,300,000 vehicles a year if passenger cars sell well. Catch up with the Yutong and Xiamen Jinlong sales levels, also 10,000 vehicles. The reality is that bus companies may be reluctant to do business with them because they fear that they won't get a good quality chassis, or if they want to avoid strengthening the position of competitors. This situation has already appeared. Bus companies, especially some companies with chassis production rights, have adopted the "curve-saving country" tactics on the purchase of chassis parts in order not to be constrained, and try to purchase outside the major groups such as Dongfeng and FAW. This initiative has made companies such as Yuchai and Qijiang Gear Factory independent from large groups.
So, this is not just a chassis issue. It has already involved the competition of engine, transmission, bridge and other array resources. Truck companies entered the bus and invisibly formed new competition among them.
Dongfeng has Dongfeng Engine and Chaochai, FAW has Dachai and Xichai, and Zhongqi has Weichai and Hangfa. Coupled with the resources of the internal components such as bridges and gearboxes they hold in their hands.
However, the resources available are after all limited. Does a truck company make use of social resources to make passenger cars? Or does it better digest its own resources? From a cost perspective, companies will certainly not miss any opportunity to make full use of their resources. Then there may be such a result: The advantage of truck companies building passenger cars is on the chassis. In order to make good use of their resources and buses, they will try their best to improve the utilization of the parts in the company on the chassis.
According to report, Dongfeng Hangzhou Auto has developed a mid-engined chassis using Cummins Engine and its own bridge, and FAW has partnered with a British bus company specializing in chassis design to develop high-end series chassis based on its own bridge and engine. Weichai designed a new engine specifically for passenger cars.
It is not hard to imagine that truck companies enter passenger cars. On the one hand, it is attracted by profits; on the other hand, it is to revitalize their assets. If everything goes well. It can rely on its own technological advantages to expand the bus market, but also continue to rely on the advantages of the chassis. Bus companies without chassis capacity continue to purchase their chassis. Therefore, their entry will form a market battle characterized by competition in the chassis performance of passenger cars.