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China's 1,300 car companies face integration or difficult to change the state-owned enterprise oligopoly pattern

Source: Author: Date: 2013/1/15 Reads: Times [Font: Large Middle Small ]

Chinanews.com, October 30th. (Car Channel Wang Yan) Among the more than 1,300 car companies in China, a group of companies have been in a state of production suspension and semi-production for many years, and their production and sales are approaching zero. On the other hand, of the 10 car companies that currently account for nearly 90% of domestic car sales, 9 are state-owned companies and their joint ventures with foreign companies. After the merger and reorganization in the future, the power of state-owned automobile companies will be even stronger, or it will further promote the oligopoly pattern of state-owned enterprises in the Chinese automobile market.

Chinanews.com, October 30th. (Car Channel Wang Yan) Among the more than 1,300 car companies in China, a group of companies have been in a state of production suspension and semi-production for many years, and their production and sales are approaching zero. On the other hand, of the 10 car companies that currently account for nearly 90% of domestic car sales, 9 are state-owned companies and their joint ventures with foreign companies. After the merger and reorganization in the future, the power of state-owned automobile companies will be even stronger, or it will further promote the oligopoly pattern of state-owned enterprises in the Chinese automobile market.
China has more than 1,300 car companies and 9 state-owned companies account for 80% of sales.
Recently, nine ministries and commissions including the National Development and Reform Commission, the Ministry of Finance, the State-owned Assets Supervision and Administration Commission, and the Securities Regulatory Commission are considering relevant policies to promote the merger and reorganization of eight key industries, among which the automotive industry is among them.
Data from the Ministry of Industry and Information Technology show that China's auto industry is also small, weak and scattered. According to statistics, there are currently more than 1,300 vehicle manufacturers in China, including 171 automobile manufacturers, 120 motorcycles, more than 900 special-purpose vehicles, and 135 three-wheelers and low-speed trucks. The Ministry of Industry and Information Technology believes that among these more than 1,000 enterprises, a group of enterprises have been in production suspension or semi-stop production for many years, with very little or no output, and it is very difficult to survive.
In stark contrast to these car companies that have been in trouble and have even survived, other car companies have made a lot of money in China's auto market.
According to statistics from the China Association of Automobile Manufacturers, from January to September 2012, the top ten manufacturers in terms of automobile sales were: SAIC, Dongfeng, FAW, Changan, BAIC, GAC, Brilliance, Great Wall, Chery and JAC, with sales of 3.283 million. There are 2,369,900, 1,197,700, 1.4,035, 1,205,100, 5,463,300, 4,530,000, 435,200, 41,500 and 358,800. From January to September, the above-mentioned ten companies sold 12.3989 million vehicles, accounting for 87.98% of total automobile sales. Except for the Great Wall, all of the ten car companies mentioned above are state-owned and state-holding enterprises. Most of these state-owned automobile companies have multiple subsidiaries, and their business scope extends to various fields in the automotive industry. For example, FAW alone owns several wholly-owned subsidiaries or holding subsidiaries of FAW Car, FAW-Volkswagen, FAW Toyota, FAW Jiefang, FAW Xiali, etc. If supporting companies are added, its subsidiaries have dozens of subsidiaries. There are so many homes. Others such as SAIC, GAC, BAIC, etc. are also the same.
Mergers and Reorganizations: State-owned Enterprises Play a Leading Role in Private Enterprises
In fact, the merger and reorganization of China's auto industry has been gradually promoted.
As early as 2009, the General Office of the State Council issued the "Details of the Plan for the Adjustment and Revitalization of the Automotive Industry". The "Plan" proposes that through mergers and reorganizations, 2 to 3 large enterprise groups with a production and sales scale of more than 2 million vehicles will be formed, and 4 to 5 automobile enterprise groups with a production and sales scale of more than 1 million vehicles will be cultivated. The production and sales scale will account for more than 90% of the market share The number of auto enterprise groups has been reduced from the current 14 to less than 10. Encourage FAW, Dongfeng, SAIC, Changan and other large auto companies to implement mergers and reorganizations across the country; support BAIC, GAC, Chery, and Sinotruk to implement regional mergers and reorganizations. It is worth mentioning that these encouraged and supported car companies are state-owned enterprises.
At the beginning of this year, the "Industrial Transformation and Upgrade Plan" issued by the State Council reaffirmed the importance of increasing the industrial concentration of the automotive industry, and explicitly stipulated that the industrial concentration of the top 10 companies in the automotive industry should exceed 90% by 2015. According to the data released by the China Automobile Association, the industry concentration of the top 10 auto companies in the first nine months of this year reached 87.98%, which is very close to the 2015 target. This means that the so-called "top 10 companies" pattern has been seen. The prototype, and only one private company of the Great Wall among the "top ten".
What about other private companies?
According to the sales data released by BYD, another major domestic private car company, BYD's auto sales in the first three quarters were 267,700 units, and Geely Automobile's data showed that the company sold 274,900 cars in January-September this year, which is different from BYD. Not much. The leaders of the two private enterprises have a gap of nearly 100,000 from the sales of 358,800 of the tenth-ranked JAC, and other smaller private enterprises cannot be compared with the "top ten". If the ten top players whose production and sales account for more than 90% of the market size form a fixed trend in the future, it means that private enterprises including BYD and Geely can only find a way out in less than 10% of the market share.
Joint venture in oligarchy
Some analysts believe that from 2005 to 2012, the production capacity of automobiles has been stable, and the industry's gross profit margin has continued to increase. After 2009, profits and market share will be concentrated in leading enterprises, and the oligopoly pattern will be strengthened. And more than half of the market share created by these "oligopoly" state-owned car companies comes from joint venture holding subsidiaries established by foreign car companies.
According to statistics from the China Association of Automobile Manufacturers, from January to September 2012, eight of the top ten passenger car companies were joint-venture car companies from state-owned and foreign companies—Shanghai GM, SAIC-GM-Wuling, FAW-Volkswagen, Shanghai Volkswagen, Dongfeng Nissan, Beijing Hyundai, FAW Toyota, and Changan Ford sold 998,400, 98,63,900, 976,600, 949,200, 634,600, 59,600, 409,400 and 338,600 units, with total sales of 5,886,62. Ten thousand cars. If you count the top ten GAC Honda, Dongfeng Honda, GAC Toyota, BMW Brilliance, Beijing Benz, Dongfeng Peugeot, Dongfeng Citroen, etc., this number can easily exceed 6 million, and from January to September this year, the top ten The total number of cars sold by the enterprises was 12,398,900. Joint venture car companies have become the winning magic weapon for state-owned car companies to occupy the market and obtain profits.
This model of joint venture car companies has also been criticized. Earlier, He Guangyuan, former Minister of Industry of the Ministry of Machinery, said in an interview with the media that China 's auto market has the largest capacity and that governments at all levels have paid the most attention to the auto industry. From the central government to the local governments, they are desperately attracting investment. But after so many years, China has not even had a car brand that can compete in the world's cars. He said: "Many of us in the automobile industry have a good life in their childhood. Joint ventures, joint ventures, and joint ventures are just like smoking opium.
However, the road to joint ventures by Chinese car companies seems far from over. Just on October 29, the joint venture project between Chery Automobile and Jaguar Land Rover, the only company in the "Top Ten" that has not yet established a joint venture car company, was approved by the Development and Reform Commission. According to the joint venture plan previously announced by both parties, Chery and Jaguar Land Rover's joint venture plant will be located in Changshu, Jiangsu, with a planned production capacity of 130,000 vehicles and a total investment of more than 12 billion yuan. The joint venture will build OEMs, engine plants and R & D centers. The plant will be completed and put into production in July 2014.