In April, the auto market was hot, allowing auto makers to call out "unexpected", and even more courageously stood up and said that they "looked" and once "too pessimistic"!
As a result, the auto market has emerged in such a market: The car sales in this area are hot, and consumers have to pay long queues to buy cars. On the other hand, dealers have experienced a decline in single-store turnover, and the profitability of automakers has risen. There is only one line between Yao and Yao.
Among the auto listed companies that disclosed their first-quarter financial reports, the profits of most auto companies have fallen sharply. The increase in production does not increase revenue, causing auto companies to dumb to eat Huanglian, and there is no way to tell. The sales growth of the domestic auto market in the first quarter was mainly driven by small-displacement vehicles and micro-customers. As we all know, the profits of these two types of vehicle bicycles are low, and the lucrative mid-to-high-end vehicles have experienced slow sales, which has caused the profits of auto manufacturers to be difficult Promote.
Financial report shows that Dongfeng Motor's net profit for the light commercial vehicle business fell by 98.21% year-on-year in the first quarter; Changan Automobile's net profit fell by 89% year-on-year; Shanghai Automotive's net profit dropped by 49.46%; FAW Cars decreased by 20.24% year-on-year; Declined by 5.5%...
However, with the prosperous production and sales in April and May, at the beginning of May, listed companies in the domestic automobile industry became “red†in the securities market. Shanghai Auto's share price soared 32.26% in just 7 days; Changfeng Automobile soared 30.35%, while the Shanghai Index rose less than 8% over the same period.... Auto stocks have become fragrant!
After the Chinese government introduced a series of policies to revitalize the auto industry, the Chinese auto market has become one of the first major markets to emerge from the shadow of the global economic crisis. The Chinese auto industry has already shown signs of bottoming out. This is an indisputable fact. However, the economic efficiency of the automobile industry and the major indicators of key enterprise groups have also dropped sharply.
According to the latest data released by the China Association of Automobile Manufacturers on 19 key enterprise groups, in the first quarter of 2009, the operating income of 19 companies was 268.6 billion yuan, a year-on-year decrease of 14.2%; the total profit was 10.8 billion yuan, a year-on-year decrease of 48.36%. Zhu Yiping, secretary-general of SAIC assisting management, pointed out that from the situation of the first four months of this year, the economic efficiency and export situation of domestic automakers still fell compared with the same period of last year. There are still many difficulties in the development of the auto industry. In the first half of 2009, the increase in production did not increase income, and when the profit turning point plagued a large number of auto manufacturers.
Therefore, the hot market may be just a superficial phenomenon. The shrinking profit margins of automakers, the decline in sales volume of dealers' single stores, the blind expansion of production due to the shortage of supply in the market, and the potential for a series of potential problems such as distributor inventory crisis are likely to be revealed in the ensuing one or two months. It does not seem necessary to think about sales or profit, but it requires the joint efforts of car manufacturers to achieve their goals.
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