Whatever you do to survive, stop work and get out of the car

Posted 2021-10-21 00:00:00 +0000 UTC

Even if it is prudent enough, when the epidemic broke out and the factories were closed one after another, the leaders of overseas car companies found that the goal was still set high. Under the influence of the epidemic, currently, major overseas vehicle enterprises such as,,, Daimler, Peugeot Citroen Group, Fiat, etc. have closed most of their factories in Europe and North America, and GM and other enterprises have even directly withdrawn their previously announced performance targets for fy2020. The epidemic is a touchstone and a mirror. Under the large-scale shutdown, overseas car companies are facing great financial pressure. In order to help themselves, some car companies borrow money to enrich their cash flow, some car companies learn from China's advanced anti epidemic experience, some car companies resist passively, refuse to stop production, and even "fool" the people on social media How many faces do overseas car companies have under the tide of stoppage in Europe and America? How much did Daimler lose during the outbreak? A while ago, Chinese media exposed an official letter sent by Beijing to Tianjin municipal government and Wuqing District of Tianjin, in which it said that if the company's factory in Tianjin could not be resumed before February 10, Beijing Benz would lose up to 400 million yuan a day. After the outbreak of the epidemic in Europe, America and other places, Daimler successively shut down Alabama factories, South Carolina factories, Brazil factories, Pune factories in India, and all factories in Europe, such as Mercedes Benz gle / GLS and other pure models sold in the Chinese market, which have been affected. Now Daimler's daily loss is astronomical, even Daimler Ola kallenius, chief executive, said it was impossible to estimate. In addition to the losses caused by the epidemic, Daimler has many historical problems, such as the sharp reduction of net profit in fy19f, facing a large penalty from the European Union (unable to meet the standards due to emissions), and the continuous decline of stock price In the minds of many people, Daimler now should be cleaner than its face, so it is rumoured in the Jianghu that Daimler has become the target of hostile takeover. For this reason, many "good people" came out to help Daimler, Frank schwerp, an analyst at Deutsche Bank in North Germany Schwope) said that if it did not want to be maliciously acquired, Daimler would have to take the initiative to "hold a group to keep warm", or form a "Germany Germany Germany alliance" with BMW, or form a "France Japan Germany" alliance with Renault, or form a Germany Switzerland China alliance with and; some politicians even went around and called on the German government to invest in protecting Daimler from being acquired. However, as the protagonist of the story, Daimler is calm. In an interview with the media, he confidently said that Daimler has sufficient funds and does not need to apply for government assistance. Moreover, Daimler even reaches out to its suppliers. Unexpectedly, just as Daimler is not willing to "add trouble to the country", its suppliers are also very adamant not willing to add trouble to Daimler, saying that there is no liquidity crisis. Seeing this, you must think that Daimler is a very solid enterprise. In fact, the reality is just the opposite. According to the financial report released by Daimler a while ago, after paying the "emission gate" penalty and electric investment, the enterprise's free cash flow in the industrial business field is only 1.4 billion euros (about 10.924 billion yuan). To strengthen its anti risk capabilities during the outbreak, Daimler is seeking a credit line of up to 15 billion euros. Daimler's backbone can be seen from the fact that it would rather borrow money from banks than accept government assistance, or even extend a generous hand to upstream and downstream suppliers. In July 2019, when Harald Krueger, the former chairman of BMW Group, announced that he would not renew his contract, there was a lot of criticism on him. It seems that his fault is that the stock price is falling, the profitability is declining, and the electric attack is slow. But now, when referring to Kruger again, I believe that every employee of BMW Group will give a thumbs up and work out the "for China, for the world" strategy for him. The "great" story will start with the electrification strategy. In recent years, German car companies have invested wildly in the field of electrification, and 2020 is the time for these companies to make achievements, but at this juncture, the Belgian Brussels factory that produces e-tron and Bremen factory that produces Benz EQC both shut down. BMW Group also temporarily closed all its plants in Europe, Mexico's plant in San Luis Potosi, the U.S. plant in Spartanburg and the Roslin plant in South Africa, but its electric drive was not suspended due to the closure of the above plants, all thanks to the "global for China" strategy. BMW ix3, the representative model of "for the world in China" strategy, is reported that BMW invested 1.759 billion yuan in 2018 to carry out technical transformation of its Dadong factory in Shenyang, and the famous BMW ix3 will be put into production in the factory and sold in the form of export in the global scope. Although the launch time of this car is later than that of Benz EQC and Audi e-tron, it is still in the middle stage China's rapid resumption of work during the outbreak has brought BMW back to a city in the field of electrification. Do you think that's the end of the story? It's not that BMW is enjoying more than that in China. Recently, BMW Brilliance employees revealed to auto home that many foreign employees of the company have brought a family to live in Shenyang. They have a strong sense of belonging to China, which is probably unprecedented. Recently, China has become the "holy land" in the heart of CEO of Volkswagen Group. On March 17, Volkswagen Group held its annual meeting on line. When answering the tricky questions from the media, Mr. dease had to boast about China in almost every three sentences "Painting style" is as follows: "Disneyland" I really envy China. The Chinese government has curbed the spread of the epidemic in such a short period of time. Factories have resumed work in such a short period of time, and even consumers have resumed the demand for cars in such a short period of time "Let's see how China fights the epidemic. China's auto market is about to recover." "Volkswagen Group has been deeply learning from China's anti epidemic model" Throughout the conference, it seemed that he would not speak without "China". It's not just boasting, it's also very thorough. At work, the public orders employees to keep a distance, and those who can open telephone / video conference will never let a group of people crowd into the same conference room; employees who come back from business trips in severe epidemic areas should be isolated separately; they should work at home as much as possible, and control the attendance rate of the office every day; even the canteen within the Volkswagen Group has banned food in the hall, and can only take it out. "VW's anti epidemic propaganda" above measures are nothing. In order to further remind employees to keep distance, VW even changed its brand logo recently. Both VW and Audi's "four circles" have more distance. So hard core anti epidemic, who dare to say that the public can not get rid of the epidemic? In the face of a raging epidemic, Ford is not the fastest, but definitely the most intense. At present, Ford has successively closed all its factories in North America, London, Wales, India, South Africa, Thailand, Vietnam and other places, and will pay about 8 billion US dollars (56.488 billion yuan) for the above actions. "Ford's factory in Chicago" is not the case, but the fact that the company will continue to use two lines of credit totaling $15.4 billion (109.081 billion), including $13.4 billion (94.914 billion) of corporate credit and $2 billion (2 billion) of corporate credit, in order to maintain sufficient cash flow (yuan). In this way, Ford's cash flow reached an astonishing 37.4 billion US dollars (261.257 billion yuan). What is the concept of $37.4 billion? It is 1.72 times of its total market value (about 21.8 billion US dollars, about 154.341 billion yuan); 3.3 times of its total electric investment (11.5 billion US dollars, about 81.419 billion yuan); 3.4 times of its total restructuring cost (11 billion US dollars, about 77.878 billion yuan); 62 times of its annual savings (6 billion US dollars, about 42.479 billion yuan) from its 10000 people's Congress layoff plan Times; 7.5 times the warranty cost (5 billion US dollars, about 35.4 billion yuan) cut by him; 787.2 times his net profit (47 million US dollars, about 333 million yuan) in 2019 But is it safe for Ford to borrow so much cash? Not at all. Fearing that Ford will not be able to pay, Fitch Ratings, an international rating agency, has downgraded its rating to a rather negative "BBB -" rating. The company believes that under the epidemic, Ford's shutdown date must be much longer than it expected, which will cause loan repayment delay. Once the delay occurs, the agency will continue to downgrade Ford's credit rating. Perhaps to keep its employees engaged in production, Tesla's founders initially took a passive stance against the epidemic. Some time before "musc who is fighting hard" on the Internet, California governor Newtown issued an administrative order to suspend business and classes. In addition to maintaining the necessary industry operation, all other businesses will be shut down or work at home. In order for Tesla's Fremont plant in California to maintain production, Tesla directly ignored the ban. But workers at Tesla's factory began to panic, and even issued a petition on the internet calling for Tesla to stop production. In the face of boiling "public resentment", musk began a suffocating operation - a public opinion offensive on twitter. On March 7, musk tweeted that“ The panic against novel coronavirus is foolish. "When it was launched, it was attacked by many netizens. In March 14th, musk sent SpaceX employees an internal mail saying that they were not as worried about the new crown virus as they were worried about the accident, because the death rate of the car accident was much higher than that of the new coronavirus. In his view, the new crown virus could not even crowd into the" hundred health threats ". Row list ". Since then, Tesla and the local government had a long-term wrangle, trying to apply for exemption from the ban, but ultimately failed. Since then, the company has shut down factories in California and New York. After the announcement, Tesla shares fell 8% in after hours trading. However, with the novel coronavirus pneumonia epidemic spreading and the public opinion attacks of just friends, Mask began to "pull the lid off", not only deleted the previous twitter, but also said that the factory would be transformed to produce the respirator to support the US government's fight against the epidemic. As the saying goes, "the bottom decides the head". The reason why musk keeps promoting "virus free" is that the company's background is not as strong as the traditional car companies like Volkswagen and Daimler. On February 5, Beijing time, Tesla surpassed Volkswagen in market value and officially became the "second share" of automobile enterprises after Toyota. Behind the brilliant market value, people seem to have forgotten that in 2018, the company was on the verge of bankruptcy, and ignored the total liabilities of the company as high as 26.199 billion US dollars (about 183.165 billion yuan), as well as the debt ratio of more than 76%,

Copyright © 2020. TUTESL All rights reserved.