The Chinese heavy truck market with a relatively stable competitive landscape may be disrupted by SAIC's actions.
On June 15, SAIC Iveco Hongyan Commercial Vehicle Co., Ltd., a joint venture company invested by SAIC's Shanghai Automotive Co., Ltd., Iveco Commercial Vehicles, and Chongqing Heavy Duty Truck Co., Ltd., was held in Chongqing, where the joint venture company is located. Of the shares in the joint venture company, SAIC-Iveco Investment Co. accounted for 67%, and Chongqing Heavy-duty Truck Co., Ltd. accounted for 33%. At the same time, SAIC Fiat Hongyan Powertrain Co., Ltd. for the joint venture company was also announced.
The development of commercial vehicles is a strategic priority of SAIC Motor during the “Eleventh Five-Year Plan†period, and its strategy of “One Big and One Small†has been achieved. That is, the establishment of a joint-stock company for heavy trucks and the development of heavy truck business will be “bigâ€, and the development of SAIC-GM-Wuling’s mini commercial vehicles will continue. “Smallâ€, in which the development of heavy truck business is a top priority for SAIC's commercial vehicle strategy.
As the top three auto groups in China, compared to FAW and Dongfeng, the weakness of commercial vehicles is the lack of SAIC's long history. Then, with Iveco's technology and brand, Hongyan’s “home†can be in the established China heavy truck market. It may take time to set off waves, but SAIC, with sufficient capital, will bet this.
SAIC intends to raise its weight
I do not know whether it was due to caution or uncertainties, even if more than 1,200 people such as the Italian Embassy in China, the European Union Chamber of Commerce, the European Chamber of Commerce, and domestic and foreign suppliers, distributors, and service providers attended such a major ceremony. The party kept pace with the next step of the company's operations. Afterwards, reporters interviewed relevant people by phone and obtained the only reply that "it is hard to say at this time and there is no uniform statement."
It stands to reason that after three years of brewing and establishing a joint venture company, the three parties should have a concrete statement on future strategies, market goals, etc., but the three parties are “inclined†and are more cautious than saying that they are three parties. No consensus has yet been reached.
In fact, SAIC cautious about the heavy truck business, in addition to business ideas may not have reached an agreement, but also bearing the ambition of SAIC to silently turn over to dominate the Chinese car, but this ambition SAIC does not want to be seen through.
The automotive group that has consistently ranked among the top 6 in the country is not a commercial vehicle or a passenger vehicle. As the leader of a multi-year passenger vehicle, SAIC and its largest competitor, FAW, Dongfeng, and Beiqi, are far behind in commercial vehicle business. Left behind. SAIC Motor, which has won the No. 1 sales list for several times last year, has been replaced by FAW since this year. The main reason behind SAIC's lag is that its contribution to the commercial vehicle segment is too small.
Adjustment and reorganization is the main theme of the future Chinese auto industry. Thousands of auto manufacturers participate in competition, not the competitive landscape of the Chinese auto industry, and the history of the world auto industry has long proved this point.
Undoubtedly, the status quo of China's auto industry and the trend of future competition are among its hidden rules. In addition to profitable factors, it is necessary to consider long-term considerations in order to raise greater weight in the "Chinese-style" merger and reorganization in the future.
SAIC's development at this stage obviously lags behind competitors in the weight of commercial vehicles. Its commercial vehicle blocks, Shanghai Huizhong, SAIC-GM-Wuling and Shanghai Shenwo Bus, either have very small production and sales volumes, or have very thin profits, and are making great efforts to enter heavy trucks. In the areas of power and components, when SAIC Motor’s own brands have ushered in a major development opportunity, SAIC Motor will obviously increase the weight of SAIC Motor’s dominance of the Chinese automobile industry.
"1+1+1" can be greater than 3
After the establishment of SAIC Iveco Hongyan, there are three platforms available for joint ventures, namely Hongyan, Steyr and Iveco. Among them, Hongyan and Steyr are among the mainstream heavy truck manufacturers in China with the smallest market share, and are increasingly falling into heavy trucks. Marginalized business was acquired. On top of the established platform, what kind of surgery can the joint venture take to make these two platforms rise and fall? I am afraid it is hard to tell.
“Steyr and Hongyan are already gas platforms and their potential is not great. The key lies in the degree of digestion and absorption of the Iveco brand. From historical experience, it takes a certain amount of time, so their three-party products need to be It takes time to open the market, and it is very difficult in the short-term,†a senior heavy-duty market researcher told reporters.
On the existing basis of SAIC and Hongyan, distribution channels only need to be integrated. For components supporting systems, SAIC will take back the equity of Shanghai Huizhong and Shanghai Wanzhong parts. Red Rock has also done a lot of work. Then, how to work hard on the product line is the most important task for SAIC Iveco Hongyan.
However, judging from the current situation, the joint-venture company Zhongyanhong Platform must continue to face the low-end market, while the Iveco technology models and Iveco original vehicles are used to meet the mid-to-high end. The real core product should be the products that absorb Iveco technology. This takes a long time. Since it is firmly committed to the heavy truck market, SAIC must meet a series of risks and challenges brought about by cooperation, technology integration and market operations.
Then, whether SAIC, Iveco, and Red Rock have combined their resources and whether the effect is greater than 3, the variables are mainly due to the strong technology of Iveco itself in the joint venture process and whether China's Iveco technology is digested in the shortest time. .
Therefore, Iveco played a decisive role. Among the many multinational truck giants, why does SAIC turn a blind eye to giants such as VOLVO, Mann, Renault, and Scania, and they alone hold hands on Iveco, which is not known in China? This is not a helpless move, but it is full of SAIC's shrewdness and pragmatism.
Compared with the prestigious multinational truck giants, Iveco's technology is well-known both at home and abroad, but it is not an absolute positioning of high-end products, and may be closer to the Chinese market demand. SAIC is taking a fancy. Because of the previous heavy truck joint venture cooperation, it is obviously difficult for foreigners who are too high-end to give China real things, and joint venture models are not suitable for Chinese users.
"Not very high-end Iveco products, the price may be closer to Chinese consumers." An SAIC executive once evaded the choice of Iveco's reasons.
Impact on the structure of heavy truck competition?
Iveco is famous for passenger cars and light trucks in the Chinese market, but the heavy-duty truck business is basically limited to imports, and the volume is not large; for Huizhong heavy trucks, it seems that SAIC can only allow it to serve as a parts base for SAIC, not to measure, red. Rock is more likely to be the head of cartilage. However, the absorption of Iveco technology products can be developed to the low-end, SAIC is seeing this opportunity.
However, there is an interesting phenomenon in the domestic heavy truck market. At present, there are no truly successful heavy truck joint venture products in China. Although the domestic heavy truck technology has progressed rapidly, it is generally still at the low end of the market. Between the luxury import heavy trucks, there is a lack of a moderately priced heavy truck platform with a truly international standard.
In the SAIC Iveco Hongyan Joint Venture, the lowest-end Red Rock and high-end imported Iveco are not the main ones, and they use Iveco technology to develop low-end and middle-end joint venture products. This is what a high-end multinational company has never done before. This is The most promising business of the joint venture company. It is precisely at the low-end level that joint ventures with both technology and brand advantages are needed most by Chinese users. This position will surely impact the overall market competition, although SAIC-related people are not willing to talk about joint ventures too soon. The company's product architecture.
Going out of the trough and ushering in the booming domestic heavy truck market has great opportunities. At present, it has formed a stable competitive landscape. Heavy truck platforms such as HOWO, Dongfeng Tianlong, FAW Jiefang J6, Futian Auman, etc. have been steadily It occupies the majority of the domestic heavy truck market, which is a cost-effective product on its own platform, but with Iveco's technology, SAIC's management, financial advantages and parts and components system, to create Iveco technology and both China Consumer acceptable cost-effective products may completely impact the established pattern.
The joint venture’s market goal is to achieve a 10% market share in the entire vehicle market within 3 to 5 years, and the objective is to be low-key and pragmatic. It is believed that competitors have already felt the pressure.
View related topics: SAIC commercial vehicle expansion
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