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On March 17, 2006, the Xinfei Group Special Purpose Vehicle Industrial Park was officially started construction in the Xinxiang City Development Zone in Henan Province. The project plans to invest a total of 1 billion yuan, of which the first phase of the project plans to invest 300 million yuan, with an annual output of 10,000 special vehicles, plans to be completed by the end of 2007; phase II project plans to invest 700 million yuan, with an annual output of 30,000 special vehicles, It is planned to be completed in 2010.
At the time when the country wants to adjust the overcapacity in the auto industry, the investment of the new flying experts is intriguing.
Wang Huanmin, president of the Special Automobile Branch of the China Association of Automobile Manufacturers, told the reporter: “Xinfei is a company that started with home appliances. Although it is not a 'new recruit' in the auto industry, it is worth paying attention to investing in the automotive industry with such efforts. â€
Special vehicle field
There is also "invalid overcapacity"
In March this year, the State Council issued the "Circular on Accelerating the Adjustment of the Industry Structure with Overcapacity" and classified the automobile as an industry that "over-investment has led to a significant excess of production capacity."
“Before a period of time, people discussed the overcapacity problem in the field of passenger vehicles. Is there a similar problem in the field of special vehicles?†asked Wang Huanmin.
“The situation is similar, and many companies have blindly launched special vehicles that belong to 'Mainland Cargo' and have not fully understood the market. As a result, there is an excess of inefficient production capacity. However, there are shortages in some high-tech products,†said Wang Huanmin.
According to the statistics of home appliance industry professionals, although there is currently a problem of excess capacity in the automotive industry, competition in the market is becoming increasingly fierce, but the average profit margin of automobiles is still much higher than that of home appliances. Experts in the appliance industry even suggested that the average profit rate of the automotive industry is more than three times higher than that of the home appliance industry.
Since 2002, with the unconventional speed of the Chinese automotive market, the home appliance industry has entered the automotive industry with unprecedented enthusiasm. Such as Jiangsu Chunlan, Ningbo Bird, Guangdong, the United States, Henan Xinfei, Ningbo Oaks, Shenzhen BYD and so on. However, with the collapse of Oaks' dream of building a car, the central government raised the issue of overcapacity that may exist in the automotive industry. People began to rethink home appliance companies in the automotive industry.
Experts pointed out that the special vehicle industry also has the problems of insufficient production capacity and inefficient production capacity.
Appliance companies intrude into the tide of car makers
“The household appliance companies that try to enter the auto industry generally have accumulated very strong funds, which is incomparable to many small and medium-sized automobile companies.†Wang Huanmin said in an interview with reporters.
According to statistics, when the home appliance company Midea entered the auto industry, it had acquired several passenger car factories in Hunan and Yunnan, and built a beautiful passenger car industrial park with a complete vehicle manufacturing process. "Finance restrictions are difficult to fall into the US group with overall sales revenue of 33 billion yuan." The head of Midea's company said at the time that we also planned to invest 3.5 billion yuan in buses to the United States in the coming years.
In November 1997, Chunlan Group took over 720 million yuan from Nanjing Dongfeng Motor Company and established Nanjing Chunlan Automobile Co., Ltd.
The above-mentioned Xinfei Group began to invest in refrigeration vehicles in 2003. In 2005, the Xinxiang Special Automobile Plant in Henan Province was placed under the Xinfei Group.
“The home appliance companies have accumulated a lot of experience in market expansion. This is one of the advantages of home appliance companies entering the auto industry. But the auto industry is a capital and technology-intensive industry after all. It cannot be equated with the home appliance industry. It is indeed very successful to succeed. Difficulties, the industry's span determines that home appliance companies will not be a smooth road, so home appliance companies must also act with caution." Wang Huanmin said.
Diversified advantages and risks coexist
Many home appliance companies choose to build cars, is forced by the fact that the home appliance industry's profits are becoming increasingly low. They have tried to break through and choose a diversified development strategy. However, there are also companies that have not only failed to develop, but have led to a total loss of strength and injury.
When it comes to home appliance companies, people always think of Oaks. At that time, Oaks Group spent 40 million yuan to acquire a 95% stake in Shenyang Shuangma Automobile Co., Ltd., and obtained production licenses for SUVs and pickup trucks, and stepped into the automotive industry. However, since Oaks produces conventional models, the price is not dominant, the brand is not well-known, and there is no basis for the automotive industry. In 2005, it officially announced its withdrawal.
Oakes' exit caused people to think about corporate diversification. As we all know, corporate diversification is an option for companies to evade industry risks, but it is better that new industries and primary industries are complementary and synthetic. The general enterprises also select the complementary industries in the traditional industries as the second main business.
The auto industry is a capital and technology intensive industry. The mature foreign auto giants are fully stationed in China. The auto consumption market is becoming more and more rational. The starting point of industrial survival is getting higher and higher, and the national industrial policy has increased the threshold for the production of cars across different product categories. , An outsider who wants to go further in the automotive field must make greater efforts.
If an industry outside the automotive industry as a diversified choice, regardless of the level of technology research and development, product manufacturing process, quality assurance system or marketing service network, must be in the short term to form a strong competitive advantage.
Experts believe that many companies are likely to diversify their efforts after they have grown and expanded. This is normal. When trying to make profits is difficult or even unsuccessful, choosing to return to the main business is also a very rational investment behavior.
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