With the smooth implementation of Ford’s China strategy, Chang’an and JMC have finally come together. On November 2nd, Ford China Vice President Xu Guozhen expressed with excitement: "Chongqing Chang'an and JMC are both Ford's important partners. I am happy that both parties can come together." The same smiles are also responsible for Chang An and JMC. People, as the frosty period of the auto market is approaching, both parties seem to have found new comfort. Smokescreen On Oct. 23, an announcement appeared on the website of Changan Automobile: On October 22nd, a newspaper claimed that “Ford handed over the task of integrating Jiangling to Changan Automobile†in accordance with the principle of being responsible to all shareholders of the company. The company’s board of directors now describes the relevant issues as follows: 1. The company’s exchange of visits with high-level executives of the Jiangling Motors Corporation is a regular exchange of visits; 2. The company has contacted Jiangling Motors Corporation on cooperation and restructuring matters, but no substantive agreement has yet been reached. . However, one week after this clarification announcement appeared, on October 30, Chongqing Chang'an Automobile Co., Ltd. announced again that it had signed an agreement with Jiangling Motors Group on October 28. The company intends to use the yuan with each of Jiangling Motors Corporation. Cash RMB 50 million is set up in Jiangxi Nanchang Jiangxi Jiangling Holdings Co., Ltd.? Hereafter referred to as “JMC Holdingsâ€, its main business is investment in various industries, foreign trade, property management, corporate management consulting services. The announcement revealed that the newly established company chairman will be appointed by Changan Automobile. This actually shows that in the future, Changan will control Jiangling Holding’s dominance, even though the two parties still each hold 50% of the shares. Within just one week, why did Chang An Auto's two announcements trick? On November 2nd, relevant person of Chang'an Group explained: “This is not because we deliberately speculation, but because a newspaper published speculative news, the CSRC criticized us and asked to issue a clarification announcement. At that time, The two parties have not yet reached an agreement,†said ACC’s Chongqing Sales Department Long Chun. “It was the speculations of the joint venture of Chang’an and Jiangling that caused the CSRC to be dissatisfied with it. Chang’an Motor also suspended the license for one day, after which both parties accelerated their efforts. From the point of view of the establishment of a joint-stock company, the two parties have actually left the details of the future reorganization in the future, because too much speculative news has had a negative impact on both listed companies.†Behind the scenes due to Chang’an and JMC’s Together, the car industry has created a well-deserved car third largest group. “The first step is to set up a holding company. The next step is not disclosed.†The cooperation details of the Chang’an Group’s propaganda department are tight-lipped, but he can't help but excitement: “In the future, we don’t need to compete with BAIC and Dongfeng for the third place. We It is the third largest car industry in the world." This year, Changan Group's car sales continued to grow. In the first half of the year, the Changan Automobile Group produced 264,583 vehicles, a year-on-year increase of 33.7%, and sold 271,660 vehicles, an increase of 34.1% year-on-year. The market share has exceeded 10%, and Changan has squeezed Dongfeng out of the three major sequences. However, starting in the third quarter, Dongfeng and BAIC began to exert force, and the top five automakers (groups) sold in September changed again and became FAW, SAIC, BAIC, Dongfeng and Chang’an with sales of 89,400 vehicles and 6.76 respectively. Ten thousand cars, 49,800 cars, 49,800 cars and 42,800 cars, of which the Dongfeng Motor Group increased significantly, while Chang'an fell to fifth place with a slight difference of several thousand. The ambitious Chang'an can't sit still. How to strengthen its strength through reorganization and secure its three major positions has become the primary goal of Chang'an Group. It was precisely at this time that Jiangling, who had been plagued by Ford's divestment from the alliance between Ford and Changan, suffered another major blow. When Chang An Ford executives interviewed the media in October, they once again emphasized that Chang'an is Ford’s only strategic partner in China. “The Ford’s entry into the Chinese market is based on an overall image. Ford executives once said that Ford has entered China.†It is Chang'an.†While Isuzu’s top officials also stated clearly during his visit to China in October: Isuzu has three joint ventures in China, Qingling, Guangzhou Bus Group, and Jiangling. Only Qingling is the closest strategic partner of Isuzu. Currently, there is no new technical cooperation intention with JMC. Obviously, Ford and Isuzu's attitude all made Jiangling go. Aijian Securities Longchun analysis: Jiangling and Changan cooperation is the best strategy, because Ford is the second largest shareholder of Jiangling Motors, and Jiangling is the only partner of Ford's commercial vehicle in China. Through cooperation with Changan, Jiangling will receive Ford’s larger products and technical support. In addition, Jiangling’s idea also caters for Chang’an's need to expand and strengthen the site in the short term. Both sides have strong intentions and the cooperation is also a matter of course. It is obvious that manipulating and reorganizing can greatly increase the strength of both parties. It is understood that in the first three quarters of this year, Jiangling Motors produced a total of 45,636 vehicles; 45,938 vehicles were sold, an increase of 17.6% over the same period of last year. The sales revenue increased by 22.97% year-on-year. In January-September 2004, Changan Automobile produced 350,659 vehicles, a year-on-year increase of 28.54%, and sold 339,449 vehicles, which was a year-on-year increase of 21.88%, and achieved sales growth of 26.11% year-on-year. After the reorganization of the two parties, the Changan Group, which holds the controlling stake in the future, will firmly establish its position as the third largest auto group. Jiangling will launch an assault on commercial vehicles with Ford’s follow-up support. Of course, Ford is undoubtedly the biggest beneficiary behind the restructuring. Jia Xinguang, chief consultant of China Automobile Consulting Development Co., Ltd., said: “Ford has similar roadmaps with Toyota. Toyota threatened to cut off cooperation and forced Tianqi and FAW to cooperate. The dismal performance of Tianqi had no choice but to follow suit. Ford intentionally released information to withdraw and was intended to intimidate JMC. After Jiangling’s contact with SAIC, Jiangling felt that SAIC’s resources had limited development of Jiangling. Therefore, it had to follow suit and had to say that Ford was behind the reorganization. Director.†This Ford executive did not agree. Ford Motors China Co., Ltd., established in 1995, has been stepping up its web layout since entering China. At present, from the Changjiang Ford in the upper reaches of the Yangtze River to Jiangxi Jiangling, Nanjing No. 2 Plant, and then to the new headquarters in Shanghai, Ford's strategy for the Yangtze River has taken shape. Prior to the cooperation between Changan and Jiangling, Jiangling was the soft underbelly of Ford’s Yangtze River strategy. On the one hand, this cooperation has provided strong protection for the soft underbelly. On the other hand, it has also been used to expand the strength of Chang’an, a foreign giant that was “late†to China. This cross-border tycoon, once considered to be an unsatisfactory partner, finally meticulously planned a Chinese bureau. Today, Ford, who has left an empty joint venture after the reorganization, left more room for imagination. Author: Expedition Week Editor:? Jing Wang
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