As the US local court recently ruled that China America Cooperative Automotive Inc. (Chamco) and its subsidiary, ZX Auto North America, bankruptcy protection.
If the verdict goes into effect, it will imply that ZTE’s North American companies will also go bankrupt. ZTE must start its own business, which is bound to affect its export business in North America.
This news should not be good news for Changan Automobile, which has just signed a cooperation agreement with ZTE. According to the agreement between the two parties, Changan will use ZTE's advantages in technology and overseas markets to produce pickup products for itself, and Changan Automobile overseas. The distributors and distributors provide sales of commercial vehicles. However, according to sources, Hebei Zhongxing Automobile Manufacturing Co., Ltd. terminated the cooperation contract with Chamco Co., Ltd. this spring, and other cooperation contracts have not yet come into effect. It is hoped that ZTE Corporation should be prepared early.
Russian spare parts taxation
The Russian government announced the 745 decision a few days ago. From November 14 onwards, a high tariff of 15% will be levied on imported car bodies. The minimum tax for each car body must not be less than 5,000 euros. Chinese auto companies mainly export Russia through parts assembly. Therefore, the outside world regards this decision of Russia as "a crackdown on Chinese auto companies that export to Russia."
This is Russia's second policy that is unfavorable to Chinese auto exports to Russia. In July of this year, the Russian government implemented a revised system for importing automobiles. China's auto exports to Russia have risen from only 11 tests to 55 checks, making it more difficult for Chinese auto companies to export to Russia.
After the introduction of the new policy, if Chinese auto companies do not adjust their export strategy to Russia, their sales will further decline. Chinese companies currently have only two options: either to establish a formal automobile assembly plant in Russia, to carry out a full assembly including welding and painting processes, or simply to export the entire vehicle, which in spite of lower profit per vehicle than before , but at least still can occupy a place in the Russian market.
Daimler stopped production for one month across the board
Daimler plans to suspend production from December 11 to January 11 this year to cope with the negative impact of the financial crisis. The quarterly report announced by Daimler on October 23 showed that the company's profits fell sharply. The company believes that the financial crisis is turning into an economic crisis, and the company’s main sales market is therefore sluggish. The company is currently in a difficult time and faces a very serious situation.
This is one of the toughest measures for Daimler to actively respond to the financial crisis. Actually, at the same time, major automakers around the world are actively taking measures. For example, Nissan has announced that its UK plant will stop production for two weeks starting on the 20th of this month. After the resumption of work, it will implement the three-weekly weekly system generally adopted during the 1973-74 economic downturn and reduce the output of 10 production lines by 10%. British Bentley, Land Rover, and Russia’s Camas Automobile Group also announced the introduction of a four-day work week. In addition, Jaguar announced a reduction in production. Chrysler has announced that it will cut about 5,000 employees around the world by the end of the year.
In short, in the current special period, it did not change before the crisis and it died in the crisis.
View related topics: Commercial Vehicle Export Analysis
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