"Plots" appeared, but Cheetah cars still did not "come to Japan"

This article was original by Sutoo123

Author / Hao Danchun

After the bumpy, the Cheetah car finally saw a hint of hope ...

A few days ago, 6 companies including Cheetah Motors merged and reorganized the first creditors meeting. At the meeting, Cheetah Reorganization Manager announced the "Draft Merge Reorganization Plan". Hengyang Hongdian New Energy Technology Co., Ltd. (hereinafter referred to as "Hongdian New Energy") was determined to be the only investor.

According to the draft reorganization plan, Hongdian New Energy will obtain the corresponding vehicle production qualifications, vehicle production bases, engine production bases, automotive research and development bases, and car of the "Changfeng Department" of 800 million yuan in debt. Assets such as bridge production bases.

At the same time, the main bodies of the six companies (Changfeng Group, Cheetah, Cheetah, Changfeng Cheetah, Changfeng Power, Great Wall Huaguan, and Qixiang Laqiao) are reserved, and all corporate equity will also be transferred to Hongdian New Energy for free.

Cheetah cars and cheetah owners

Once upon a time, Cheetah had "infinite scenery."

In 1995, Changfeng Group began to cooperate with Mitsubishi in Japan. With Mitsubishi's Pajero Motor Technical support, the "Cheetah" off -road vehicle brand was created, and a number of models such as Black King Kong have been launched. Data show that in 2002, cheetahs once occupied 44% of China's domestic off -road market share.

Since then, with the arrival of the SUV market, Cheetah has launched a number of hot -selling models such as CS10. In 2017, Cheetah car achieved sales revenue of 11.32 billion yuan with sales of 125,000 vehicles. It was also that year, Changfeng Group re -launched the IPO process and set the goal of "2020 to achieve 400,000 annual production and sales of 400,000 vehicles, sales revenue of 40 billion yuan and net profit of 2 billion yuan."

something unexpected may happen any time. Since then, cheetahs have begun to enter the downward period of sales, and after just one year, it has almost chopped.

Data show that in 2017, Cheetah cars sold 125,000 vehicles and achieved sales revenue of 11.32 billion yuan. However, starting in 2018, the sales of cheetahs fell to 78,000 vehicles quickly; in 2019, sales further fell to 32,500 units; in 2020, Cheetah's sales were only about 1,000 throughout the year.

In April 2021, Cheetah car applied for bankruptcy review at the Changsha Intermediate People's Court. In August of the same year, Cheetah cars were formally ruled to go bankrupt and reorganized. Then the Cheetah Motor Manager issued three auction announcements to publicize some assets of Cheetah Motors, but no one asked.

Today, Cheetah cars have gone bankrupt and reorganized, so what about cheetah owners?

After looking at the black cat complaint website, Sutu.com found that since 2020, Cheetah cars have been frequently complained by car owners to be unable to contact after -sales service, after -sales hotline shutdown, 4S shop closure, free after -sales maintenance warranty cannot be fulfilled.

In August 2020, about 200 Cheetah cars authorized dealers across the country jointly issued the "Statement on Stopping Free after -Sales of Cheetah Cars in China" stating that because the manufacturer stopped the supply of parts, it was impossible to provide maintenance services, and most parts of dealers were parts and components. It has been exhausted, and nearly 400,000 cheetah owners cannot enjoy after -sales service. After -sales maintenance in the future needs to be handled at their own expense. This is the official commitment to consumers who previously purchased Cheetah cars. The free warranty policy is 3 years or a mileage of 100,000 kilometers, which is far away.

At the same time, the data on the motor vehicle also showed that starting from 2007, Cheetah cars sold a total of 430,100 vehicles. This also means that if cheetahs are closed down, more than 430,000 owners will not be guaranteed.

In this regard, Sutu.com also tried to call the official after -sales call of Cheetah many times. However, as of press time, it has not been responded.

In addition, the industry pointed out that cheetahs did not keep up with the times to launch new models that meet the six standards of the country, and the market competition was fierce, and it was soon eliminated. Getting to this situation is a large aspect of this situation. Although it was more outstanding at the time by relying on Mitsubishi's technology in the early years, because the products made after the army were more old, the technical platform was old and did not grasp the needs of customers in time. Exit the edge of the market, and it is inevitable to collapse.

Can Cheetah cars still "reopen the rivers and lakes"?

According to public information, the total book assets of six companies such as Changfeng Group and Cheetah Automobile are 9.364 billion yuan, the total liabilities are 11.139 billion yuan, and the asset -liability ratio is 118.95%, which is a serious non -debt. Therefore, Hongdian New Energy will invest 800 million yuan to settle debts as a price, and obtain assets such as the corresponding vehicle production qualifications, vehicle production bases, engine production bases, automotive research and development bases, and bridge production bases of the "Changfeng Department" Essence

According to the information of the company, Hongdian New Energy was established on October 31, 2019. Among them, Hengyang Hongqi Investment Co., Ltd. holds 96%of the shares and 4%of Weimar Automobile Technology (Hengyang) Co., Ltd. Although Wima's shareholding ratio is not high, it is one of the protagonists of the reorganization case.

As one of the first batch of brands in the new forces of car construction, Weimar is the company with the most product data among domestic pure electric vehicle manufacturers, which is close to the number of models of Weilai and Xiaopeng. From 2018 to 2022, Wima successively launched four products: EX5, EX6, W6, and the latest family sedan E.5 products, covering the two main categories of SUVs and cars, with a price range of 1.6-28 million yuan. This is unpredictable with the positioning of Hongdian Energy in the draft. According to the "Draft Merge Reorganization Plan", after the acquisition of "Changfeng", Hongdian New Energy will focus on pure electric passenger markets with 150,000 to 250,000 yuan. The technical support of the car calibration, smart cockpit and smart driving, and considers the sales through the channels that Wima has been built.

However, whether Wima's entry can drive Cheetah cars to make full use of resources to achieve the counterattack. After all, Wima has fallen significantly in recent years, and its production capacity is significantly greater than actual needs (Wima already has two production bases in Wenzhou and Huanggang).

Data show that in the first half of this year, Weimar Automobile had delivered only 21,700 units, an increase of 2.3%year -on -year; Xiaopeng, Nezha, ideal, Weilai was 690,000 vehicles, 63,100 vehicles, 60,400 vehicles, and 50,800 units; The overall growth rate of the industry was 122.8%.

Can Cheetahs be resurrected?

Sutu.com believes that the possibility of cheetah resurrection is very small. Not only are Cheetah's production capacity and production qualifications in excess, but the production lines and technology are relatively aging, and the current automotive market has begun to transition to new energy. If you continue to continue the cheetah's fuel car plan, what should the existing owners be good? Therefore, Sutu.com believes that future brands will not be named by cheetahs, but there may be the shadow of cheetahs.

In recent years, the dividend of the new energy track has been released, and the new forces of vehicles have taken advantage of the wind. However, with the initial determination of the industry and the long drive of traditional car companies in the field of new energy. The current new energy vehicle market has been used to the intelligent competition from the first half of the game. Several senior executives have said that the Chinese automobile market will eventually survive.

In this case, in addition to the competition of the competition of independent brands such as Chery, BYD, and Changan, it is also necessary to strengthen the quality and competitiveness of its own products, get rid of the "cheetah" to bring consumers while creating "star products", while creating "star products" Realize the "entry". As for whether a new brand will appear in the consumer's sight, the market will give the answer.

At the end

In general, the loneliness of Cheetah cars has also given some inspiration of car companies. Now that the competition in the automotive industry has intensified, many brands have faded out of the historical stage, such as Zotye, Haima, and Brilliance. The fall of Cheetah Motors also indicates that the Matthew effect is becoming more and more appearing in the automotive market, sounding the alarm for those edge brands.

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