On April 14, Dongfeng Motor Group announced on the Hong Kong Stock Exchange that in view of the decline of the domestic automobile market and the operating conditions of Dongfeng Renault, both the company and Renault intend to reorganize Dongfeng Renault. The two sides signed a non-binding memorandum and reached a preliminary intention. Renault intends to transfer its 50% equity of Dongfeng Renault to the company, and Dongfeng Renault will stop its business activities related to the Renault brand.
On the same day, Renault Group released a brand-new China market strategy. The strategy is based on two pillar businesses-electric vehicles and light commercial vehicles. Fran? ois, Chairman of Renault Group in China? Provost) said: "Renault Group has opened a new chapter in the China market. We will focus on electric vehicles and light commercial vehicles, vigorously promote green travel in the future and make more effective use of the cooperative relationship between Renault and Nissan. "
In the context of the increasingly sluggish sales of Dongfeng Renault antibacterial agents, it is reported that Renault may withdraw from the China market. However, Renault said that China is the largest automobile market in the world, and it is impossible and impossible for any multinational company to give up the China market. According to the tourism finance report, giving up passenger cars is the subtraction that Renault Group has to make in order to fulfill its promise, and it is also the last impact to not withdraw from the China market.
Subtraction slimming? Can we see the bottom?
Dongfeng Renault was established in February, 20 13, 13, and was jointly funded by Dongfeng Motor and French Renault (hereinafter referred to as "Renault"), with an investment of 7.76 billion yuan (about 1300 million US dollars). However, this cooperation began in early 2004, and it took nearly ten years to land. Since then, Dongfeng Renault's sales are not gratifying. Only in 20 17, the sales volume reached its peak, achieving an annual sales volume of 72,000 vehicles, an increase of 140% year-on-year. However, in 20 18, due to the retreat of SUV tuyere, its annual sales volume fell to 50 thousand. In 20 19, only 18600 vehicles were sold, down 63.07% year-on-year. In the first quarter of 2020, Dongfeng Renault only sold 663 cars, a year-on-year plunge of 88.65%. Financially, it is learned from the annual report of Dongfeng Group in 20 19 that the ratio of assets and income of Dongfeng Renault to the total assets and income of the Group is 1.0% and 0.5%, and the pre-tax profit of Dongfeng Renault in 20 19 is negative.
In other words, at the moment when sales are declining, the profits generated by Dongfeng Renault can also be ignored.
Of course, although Renault entered the China market late, its four joint ventures in China have formed a complete industrial layout covering passenger cars, commercial vehicles and new energy products. Now, I believe that giving up the passenger car market is also its decision.
According to the plan, in the light commercial vehicle market, Renault brilliance jinbei Automobile Co., Ltd. plans to modernize Jinbei models, expand the company's product line, and launch five core competitive models before 2023. Its cars will also be exported to overseas markets.
In the electric vehicle market, Renault Group will continue to strengthen cooperation with Nissan and Dongfeng in the joint venture project of Yi Jie Texin Energy Automobile Co., Ltd., and will make Renault? City? K-ZE (Chinese equivalent name is Renault e Nuo) has become a global model. The European version of K-ZE will be based on "Dacia? "Concept building, spring? 202 1 is listed in Europe. Jiangling Group's new energy will introduce Renault's advanced quality management system and technology, and launch four core models by 2022, covering 45% of the main models in China's electric vehicle market segment.
Renault automobile began to develop electric vehicles on a large scale more than ten years ago. It is a pioneer and leader in the European electric vehicle market, with a market share of 23%, ranking first in the European market. China has received strong support from the government in the field of electric vehicles, and even the government extended the subsidy policy for two years due to the epidemic, so it is impossible for Renault to give up this market. After all, this can be said to be the only mature trump card in Renault's hands.
Dongfeng Renault: Starting with Ghosn? Finally Ghosn
Tourism Finance believes that the fate of Dongfeng Renault may have been doomed from Ghosn's stepping down. Dongfeng Renault has always been a very important part of Ghosn China's strategy. However, after the recall, Renault personnel changed frequently, and there were also changes within the Renault-Nissan-Mitsubishi alliance. Renault has been unable to dominate the alliance, so Dongfeng Renault, which may have been called "chicken ribs" before, will become a real burden.
In February this year, the media reported that Clotilde Delbos, the interim CEO of Renault, said that there was no "taboo" when reviewing the business to reduce the structural cost of at least 2 billion euros (about 2.2 billion US dollars) within three years. This sentence shows that Renault will do a lot to rectify its business in China market.
Of course, on the other hand, Dongfeng Renault may be the best way to give up passenger cars. It is reported that Dongfeng Motor intends to transform and upgrade Dongfeng Renault in the future. According to the overall strategic layout of Dongfeng Motor, we are committed to the high-quality development and innovation of technology and business model.
It is worth noting that the reorganization of Dongfeng Renault is not the first case of the withdrawal of foreign shareholders from the passenger car joint venture company. 2065438+In June and September of 2008, Japanese Suzuki Motor successively transferred all the shares of two joint ventures, Changhe Suzuki and Changan Suzuki, and announced its withdrawal from the China market. 2065438+In February 2009, Peugeot Citroen Group sold all the shares of Changan Peugeot Citroen, a joint venture company with Changan Automobile. It can be expected that Dongfeng Renault is by no means the last one.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.