Zeng GAC Mitsubishi, who had been in China, was eagerly retired after 11 years of cultivation in China.
This China -Japanese joint venture car company issued an announcement on Tuesday (October 24), announcing that it will implement reorganization matters such as GAC Mitsubishi and GAC Mitsubishi Automobile Sales Company.
After the reorganization is completed, GAC Mitsubishi will become a wholly -owned subsidiary of China State -owned Enterprise GAC Group. Its production facilities will be taken over by GAC New Energy Sub -brand GAC EIN;Mitsubishi Commercial Corporation holds shares together to provide car owners with spare parts and after -sales service.
This announcement means that the local production of Mitsubishi brand cars in China will be terminated, and it will only engage in customer after -sales service.In 1973, it began to export medium -sized trucks to China and Mitsubishi Motors, which exceeded 50 years in China, and officially withdrew from the Chinese market.
11 years from GAC Mitsubishi to ending from high light to eclipse
GAC Mitsubishi Automobile Co., Ltd. was established in 2012. It is a joint venture operated by Guangzhou Automobile Group, Mitsubishi Automatic Vehicle Industrial Co., Ltd., and Mitsubishi Commercial Co., Ltd.In the 30 years of cooperation, the registered capital reached 1.947 billion yuan (RMB, the same below, S $ 364 million).
At the beginning of the establishment of GAC Mitsubishi, it focused on sports multifunctional vehicles (SUVs).Although there was no water flower at first, relying on Mitsubishi Motor's technical advantages and the huge market of GAC Group, GAC Mitsubishi's annual sales volume steadily increased.
Until 2016, GAC Mitsubishi launched Outlander's models in China, which has won the favor of consumers. From then on, it has ushered in a two -year high time.
GAC Mitsubishi's annual sales exceeded 100,000 in 2017, reaching 117,300 units; in 2018, it also reached the peak of sales of 144,000 vehicles in the environment where the Chinese auto market declined.Looking at the composition of sales, Outlander accounts for 90 % of GAC Mitsubishi sales.
But the good times are not long. After the sales of GAC Mitsubishi fell slightly to 130,000 vehicles in 2019, the cliff -like fell to 75,000 units in 2020. In 2021, 66,000 vehicles were further launched.The vehicle is not even as unilateral sales of some mainstream joint venture brands.
In the first quarter of this year, the cumulative sales of all products under GAC Mitsubishi were only 3969 units, a decrease of 58%year -on -year, and respectively accompanied the last seat in the sales ranking of GAC Group.Some media said that in the off -season, GAC Mitsubishi could not even sell one month.
Under the bleak sales, GAC Mitsubishi had to announce the discontinue production of factories located in Changsha, Hunan in March this year.The original design capacity of the factory was 200,000, but in 2022, the capacity utilization rate was only 35,000, and the utilization rate was less than 20%.
GAC Group will no longer announce the production and sales data of GAC Mitsubishi alone in April this year. Instead, it is merged into the "other" items with Hechuang Motor Technology, GAC Hiroyo, Guangzhou GAC BYD New Energy Bus.
Analysis speculates that this should be because GAC Mitsubishi's production and sales data has been pivotal in the proportion of GAC Group's overall production and sales data.
After the operation of GAC Mitsubishi almost stopped, Mitsubishi's speculation at the Chinese market began to spread, so that the company had repeatedly emphasized that there was no plan to leave.Until July this year, GAC Mitsubishi sent a letter to all employees, announcing the temporary suspension of production and layoffs of the factory, exposing the company's dilemma.
Although the major shareholder GAC has provided loan transfusion many times, GAC Mitsubishi also launched a new Euchid equipped with new energy equipment tried to turn the tide, but it has been unable to return to heaven. The end seems to have entered the countdown.
GAC Group data shows that as of March 31st this year, GAC Mitsubishi's total assets of auditing were 4.198 billion yuan, total liabilities were 5.613 billion yuan, and their debts were not debt.GAC Mitsubishi eventually had to move towards the fate of reorganization.
GAC Mitsubishi's fuel car baggage
There are analysis to leave the exit of foreign car companies such as Mitsubishi and other foreign car companies on China's political and economic risks.This group of views believes that the weak anti -spy law and economic recovery of China's effectiveness have taken effect in July this year, which has made foreign companies unable to be confused and accelerated the withdrawal of capital.
But more common analysis believes that the endless end of GAC Mitsubishi may be attributed to the strategic layout of its failure.
For Chinese independent brand car companies, the technology of Mitsubishi Motors in Japan used to exist in high mountains.Mitsubishi developed naturally aspirated engines, relying on the advantages of leather durability and convenient maintenance, have become the best choice for Chinese brands, including BYD, Great Wall, Geely, etc., which will become a Chinese electric vehicle manufacturer in the future.
But Mitsubishi's proud natural aspiration technology has become a big burden that hinders Mitsubishi's transformation to new energy.When other car companies in the Chinese market have begun to walk with pure electric vehicles and plug -in hybrid vehicles "two legs", Mitsubishi's naturally aspirated engines with high fuel consumption and weak power, continuing to promote fuel vehicles.In the Chinese automobile industry that does not retreat, the fate of GAC Mitsubishi has been eliminated by the market.
According to the statistics of the China Automobile Industry Association, last year, China's electric vehicle sales increased by 80%to 5.36 million units, accounting for 20%of the national new vehicle sales.
Not only the rise of new energy vehicles, but the new forces that are obsessed with "replacement" are also more frequently updated and iterated.Some articles point out that the iterative cycle of new power models is basically maintained between 1 and 1.5 years, almost the same frequency as the frequency of new products for smartphones.
Under this wave, the traditional fuel vehicle's "change one year, three years, one major change, five years and one change" may not be applicable.GAC Mitsubishi's long -term reliance on Outlander's support for annual sales, and the thinking of new energy vehicle transformation and product renewal, so that it missed the opportunity to seize the market share.
In fact, GAC Mitsubishi launched the first pure electric SUV Abu Ke in March last year, but this "shell -to -shell -changing car" not only in the appearance, wheelbase, front and rear wheel distance, power, etc.The Aion V is the same, and the price is still higher, which has led to the sale of Abukkai.The lack of planning transformation strategies allowed GAC Mitsubishi to miss the opportunity to come back.
Where do foreign car companies go in China?
Failure to grasp the timing of transformation and lack of innovation and competitiveness is the main reason for the failure of GAC Mitsubishi to operate in China.In recent years, companies have been defeated in the competition with China.
Passenger car market information joint data shows that in January this year, the sales volume of Japanese cars in China decreased by 10.3%year -on -year last year, which is second only to 34.7%of Korean cars.%, A year -on -year decrease of 2.7 percentage points; another data of the China Federation also shows that the retail share of China's mainstream independent brand new energy vehicles reached 70%in August this year, and the share of the new energy vehicle of the joint venture brand was only 5.2%.
Faced with the menacing Chinese car companies, from 2018 to 2022, at least seven joint venture car companies and brands withdrew from the Chinese market, including Changhe Suzuki, GAC Fikh brand, Changan Suzuki, Changan PSA, Dongfeng Renault, Brilliance Renault Gold Cup, FAW Mazda.The old joint venture car companies such as Shenlong Automobile, Yueda Kia, Beijing Hyundai, Changan Ford, etc., are also facing dilemma such as decline in sales.
A Chinese netizen commented on the end of Mitsubishi Motor in China: "Maybe Mitsubishi did not copy the glory of the fuel vehicle era in the Chinese market, but if anyone remembers many years ago, on the track, Mitsubishi Lancer 1600 GSR surpassed Porsche's wonderful moment.This is enough. "
But the fact is that the old -fashioned car manufacturers who entered the Chinese market in the Chinese market missed the best time to transform the new energy transformation due to the burden of the strong position in the traditional field, and eventually decoupled with the market and was forced to evacuate.At present, the horn of competition around the electric vehicle has sounded. This is the bloody lesson that players have to remember, otherwise the wonderful one is just an instant.
