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Cheap cars don't make money? Wuling's annual sales volume exceeds 1.66 million Chinese brands, resulting in a net loss of 167 million yuan

via:驱动之家     time:2020/5/15 10:00:34     readed:711

When it comes to Wuling cars, the first impression most people have is that they are cheap and durable,And Wuling Hongguang's annual sales volume is always in the top three of China's brand automobiles, which is worthy of being the national God car. But can you earn more by selling more? This is not the case.

Recently, Wuling Motor announced its 2019 performance forecast. According to the latest assessment of the group's unaudited comprehensive management accounts for the year ended December 31, 2019,A net loss of about $167 million is expected for the year ended 31 December 2019.

As for the reasons for the loss, the information shows that the main reasons for the loss recorded by the company and the substantial increase in the loss per share are as follows:,Increase in impairment losses on property, plant and equipment in the engine and related parts segment and auto parts and other industrial services segments.

But unlike other car companies, which are losing money because of poor sales, SAIC General Motors Wuling sold 1,660,007 new cars in 2019, becoming the first Chinese brand car sales. Although the sales performance is bright, but this also did not change the situation of Wuling auto losses.

Compared with other domestic brands, in 2019, Geely's cumulative sales volume reached 1361560, with a revenue of 97.401 billion yuan and a net profit of 8.3 billion yuan.

As you can see from it, The lower-priced and lower-ranked Wuling, which also has lower interest rates on bicycles, makes the group less profitable. As a result, there is a large sales ahead of other manufacturers, but a loss situation.


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