Sealed car news ｜ GAC Fick Sanda, why did the earliest Jeep rush to "late collection"?

On July 18th, GAC Group announced that GAC Fick continued to lose money in recent years, and it has been unable to restore normal production and operation since February this year. Related matters of the joint venture. The impairment of assets has been confirmed in the financial report of GAC Group last year.

On the same day, the Stellandis Group also announced that due to the lack of progress in the plan to increase the proportion of shareholding in GAC Fick, it will negotiate with GAC Group to terminate joint ventures and use light assets to develop the JEEP brand in China. In the future, Stellandis will carry out business in China through imported electrified Jeep models.

Stellandis said that the domestic Jeep model of GAC Fick will be terminated in an orderly manner, and Stellandis will confirm about 297 million euros of non -cash impairment costs in the first half of 2022.

Founded on March 9, 2010, GAC Fick was built by GAC Group and Stellandis Group with a joint investment of 50:50, with a total investment of about 17 billion yuan. In 2015, GAC Fick's first model Jeep freely achieved domestic production. In 2017, GAC Fick's sales exceeded 200,000 units, and the sales volume fell year by year. In May and June of this year, GAC Fick's production and sales were 0, which was basically in a state of stopping.

From 2020 to 2021, GAC Group and Stellantis Group had invested 4 billion yuan to GAC Fick twice to help them get out of the predicament, but the market decline of GAC Fik was still not decreasing.

In the first half of this year, GAC Fik had a cumulative output of only 822 vehicles and a capacity utilization rate of only 1%. As of the end of 2021, GAC Fick's total assets were 8.681 billion yuan and the total liabilities were 8.678 billion yuan, which was on the edge of non -debt.

Starting from the earliest entry into China, the Jeep brand as a synonym for professional off -road vehicles has a high reputation in consumers. However, its development in China is bumpy. From Beijing Automobile in 1983 to become the first Beijing Jeep to become China's first car joint venture brand, and then parted ways with GAC. "Early, but did not catch up with the last late collection." The deep reasons behind it were intriguing.

Cover news reporter Liu Nian

- END -