Weicheshichang Hot Car Makers Busy Expansion
Eve of Spring Festival, Chongqing Changan Automobile (12.17
,0.00,0.00%) (000625) Notice to be put into additional fund-raising mini-vehicle production, the hippocampus shares (7.49,0.00,0.00%) (000,572) are also released in January this year, fund-raising into mini-car program, and this corresponds to our mini-vehicle sales last year rose 83%. In addition to Changan Automobile, hippocampus shares, a lot of mini-vehicle producers also have expansion plans.
Chongqing Changan Automobile plan to publish the additional fund-raising 4 billion yuan, the investment product line expansion technological transformation projects, small-displacement engine of industrial upgrading projects, independent research and development capacity-building projects. Issuance of shares of the hippocampus to be fund-raising not more than 30 billion yuan for investment in Hainan and Zhengzhou, the two projects, the project put into production, will form the scale of 500,000 passenger vehicles, increasing sales 14 billion yuan.
Both companies noted that additional projects are to meet the rapidly growing micro-car market. Changan Auto said that the National Development and Reform Commission in 2009 issued "the automobile industry restructuring and revitalization of planning", the purchase of tax relief for low-emission passenger vehicles, cars to the countryside and other specific measures to promote their own brands of small displacement vehicles development, will help Yu Changan Automobile achieve the "micro-oriented" development strategy. The hippocampus of shares, said, as China's new rural economic development, and rural road "every village" project implementation, the domestic automobile market, county-level spending power rising, mini-cars are gradually being replaced by motorcycles, agricultural tricycle to become rural family means of transport, cargo dual-use main mode of transport. Mini-car consumer market has great potential for development.
The two companies are expanding production capacity behind the prompt start of the rural market. GF Securities (52.78,0.00,0.00%), analyst Tang Jun said that apart from state subsidies, increase income of the farmers is an important reason, "purchase price with the drop in income increased the prices of an increasing proportion of income in the low - , mini-cars as a production and means of transport, cost-effective high, farmers have to purchase needs. "In addition, she also believed that the rural market and urban compared with the close links between family and friends to share more, once someone to buy it will rise through word of mouth follow the trend of effects.
In 2009, the domestic mini-car sales of 1.95 million, an increase of over 83% year on year to become vehicles to stimulate the policy has benefited the most significant sub-sectors. Chongqing Changan Automobile main attack the rural market in 2009, will sink to the villages among the channels, which makes the company's 2009 sales of mini cars 67 million units, Changan Automobile sales position in January of this year climbed 2, the highest in the domestic automobile sales in second place, the main is to rely on mini-vehicles.
Changan Automobile mini cars this year, plans to sell 1 million, an increase of nearly 40% in 2010, SAIC-GM-Wuling's sales target at 1.23 million, is expected to grow 16% over last year. In accordance with Chang's capacity expansion plans in 2012 Changan mini-car production capacity will reach 130-150 million units, SAIC-GM-Wuling will also expand production capacity to 1.5 million. The micro-car companies are from the original five surged to 12, according to Ge Jia micro-car business capacity planning, to 2012, industrial planning production capacity close to seven million.
Dongxing Securities analyst in the special that each company expansion plans from the industry point of view, are more optimistic, but the mini-car market will no longer appear as big as last year or this year, sales growth should be at 10-15%. Insiders believe that if the mini-car production up to capacity planning, industry overcapacity will occur.
by: Frbiz
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