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Geely responded to the "reduction of wages" rumors: the middle and high-level cadres voluntarily joined the business sharing incentive mechanism

May 15, 2019 17:20
source: China Securities Network

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[Geely responded to the "reduction of salary" rumors: the middle and high-level cadres voluntarily joined the business to share the incentive mechanism] On May 15th, for the net biography "Jili asked employees to voluntarily fill in the salary and year-end bonus", Geely Group Vice President Yang Xueliang responded: Geely's various business indicators are good, and its development is stable. There is no such thing as a “pay cut” situation. Geely Automobile officially launched the 2019 annual salary adjustment work from May, and the salary increase of this outstanding salary is up to 30%. In order to enable middle and high-level cadres to have a sense of mission, a sense of purpose and a sense of results, employees above 8 posts will voluntarily join the business results to share the incentive mechanism, and the goal will be higher. (China Securities Network)

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On May 15th, in response to the online biography, Geely asked employees to voluntarily fill in the salary reduction and year-end bonuses. Yang Xueliang, vice president of Geely Group, responded that:Geely AutomobileThe various business indicators were good and the development was stable. There was no such thing as a “reduction of wages”.Geely AutomobileFrom May onwards, the 2019 annual salary adjustment work was officially launched. The salary increase of the outstanding employees of this salary is up to 30%. In order to enable middle and high-level cadres to have a sense of mission, a sense of purpose and a sense of results, employees above 8 posts will voluntarily join the business results to share the incentive mechanism, and the goal will be higher.

  【Related reports】

  Weak April: Geely and SAIC GM sales plummeted by 20%

The depressed auto market continued to move downwards in April, and the original market pattern also appeared loose.

According to the domestic retail sales data of narrow passenger cars released by the National Federation in April, the top three in the market, the position of SAIC GM's many years old is occupied by Dongfeng Nissan, slipping to fifth place, ranking behind Geely. Among the Chinese brands, the top ten car companies in the previous peak hours have the largest number of Geely, Great Wall and SAIC passenger cars. At the moment, the wholesale volume of SAIC passenger cars can still rank among the top ten, but it is no longer Reappear in the retail list.

  SAIC GM was squeezed out of the top three

Although the auto market has been ups and downs, over the years, the top three companies in the domestic market have long been occupied by North and South Volkswagen and SAIC-GM. Even in different years, the top three will fluctuate, but SAIC GM has not seen the top three in the past few years.

According to the March retail sales data released by the Federation, SAIC GM is still in the third position in March, and the market retail volume reached 119,400 units, ranking fourth.Geely AutomobileThe 116,700 units are very close, but in March, Dongfeng Nissan's retail sales were only 103,900 units. In April, SAIC-GM's market retail volume was 90,300 units, a sharp drop of nearly 20% from the previous month; while Dongfeng Nissan's sales volume also declined, but under the new car, it still achieved sales of 97,000 units.

This is the best ranking that Dongfeng Nissan has set on the list in the past two years. Before that, Dongfeng Nissan's best score was only in the top five. In general, it ranked seventh in the top ten. Since August last year, the sales volume of Dongfeng Nissan has stabilized at around 100,000 units, and the market ranking has also increased.

According to Chen Hao, deputy general manager of Dongfeng Nissan Passenger Vehicle Company, in the interview with reporters, Dongfeng Nissan hopes to achieve the annual sales target of 1.6 million units in 2022 (joint venture non-luxuryThe market share of the field is 12%), and it has entered the top three of the joint venture brands in various fields such as profitability and product quality.

The Dongfeng Nissan sword refers to the top three, which means that the biggest threatened person will be SAIC GM. Since last year, due to the downturn in the auto market, although SAIC GM is still stable in the third place, the fluctuation and decline are the largest among the top three. according toSAICAccording to the released data, SAIC GM's sales in April were 125,500 units, down 26.68% year-on-year; cumulative sales from January to April were 552,400 units, down 16.61% year-on-year.

SAICGeneral MotorsGeneral Manager Wang Yongqing said in an interview with reporters that there are many reasons for this year's market impact, including changes in the external macroeconomic environment, the switch from the national 5 to the national 6 emissions, and the market wait and see expectations of the bailout policy, although Prior to this, many car companies tried to use the price of the car to go to the countryside and the value-added tax to reduce the market, but Wang Yongqing believes that from the current point of view, the "price war" has gradually lapsed for the market, and stood From the dealer's point of view, blindly adjusting the price will cause the dealer's profitability to intensify. In this context, SAIC GM “mainly keeps our rhythm and keeps our entire terminal, including our dealers, the whole operation. status". Wang Yongqing said, "As long as we follow the rhythm of the market, we feel that it is a victory." From the situation in the first quarter, SAIC GM's wholesale performance is still better than the broader market. What is to be done is how to consolidate the terminal's foundation and combat effectiveness.

In the view of SAIC-GM's top management, the market situation of SAIC-GM will improve in the second half of the year with the launch of new cars. For Dongfeng Nissan, similar to the April results is a short-lived or strength show, pending further observation.

  Geely breaks through the market

In terms of self-owned brands, at the peak of the time, SAIC passenger cars appeared in the top ten list, but they were quickly squeezed out. The ranking is relatively stableGeely AutomobilewithGreat Wall Motor. In April, the two ranked fourth and seventh respectively, with sales of 96,800 and 65,500.

From the data point of view, Geely's performance is still stable. But bid farewell to last year's growth rate of more than 20%, this yearGeely AutomobileSales also showed a slight decline year-on-year. According to data provided by Geely, the total sales volume of the company (including the leading car) in April was 103,900 units, a decrease of about 19% year-on-year and a decrease of about 17% from the previous month. Among them, the total sales volume of the Chinese market in April was 96,638, down 24% year-on-year. From January to April this year,Geely AutomobileThe total sales volume was 470,500 units, a decrease of approximately 9% year-on-year, and only 31% of the total sales target of 1.51 million units in 2019 was completed.

"We have not talked about sales before July of this year." Although still ranked first among independent brands,Geely AutomobileA senior executive told reporters that in addition to the external reasons of the market, the above-mentioned high-level officials said that due to the switch between China 5 and China 6, Geely is now helping dealers clear inventory. "We have not asked for distribution in recent months. Merchants purchase." The above-mentioned high-level people said that the more the market is cold, the more they must consider the survival of dealers.

“Although Geely’s sales in April have declined, from the perspective of the models, the old products are falling, and the new products have brought a lot of growth.”Geely AutomobileLin Jie, vice president of the group and general manager of the sales company, told the reporter. “Not only the Geely brand, but also other brands. Some products with relatively large quantity and low price have fallen more when they encounter the more competitive stock market. Therefore, it is not possible to consider the price, but also Considering value. Just relying on price to win the market, I don’t think it is necessary to make a breakthrough in value.” President of Geely Holding Group,Geely AutomobileGroup CEO and President An Conghui added that in his view, “leading the brand with technology is even more important in today's stock market.”

Therefore, although the car market is still in the cold winter, Geely still firmly opened the road of technology and brand upwards, and launched the high-end sports SUV Xingyue. This is Geely's first model with a price exceeding 200,000 yuan.

The emergence of Xingyue means that Geely has chosen a more difficult path of “branding by value”. “The brand is competitive. This company is competitive. The brand has the premium of the product. The brand also determines your pricing and determines the purchasing power.” An Conghui believes that this is a must for Geely and even Chinese brands. path of.

From the perspective of the overall market, the time left for independent brands is really not much. According to data from the China Association of Automobile Manufacturers, Chinese brand passenger cars sold 585,000 units in April, down 27.9%; sales in January-April were 2.77 million units, down 22.3%; shares in the previous four months fell another 4%, at all Segments are showing a downward trend. (Source: First Financial Daily)

(Article source: China Securities Network)

                (Editor: DF142)

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