Like SAIC Motor many years ago, the rising star GAC Group has been called “the miracle on a passenger car, the dwarf on a commercial vehicleâ€. From Guangzhou Honda to Guangzhou Toyota, Guangzhou Automobile Group’s products have long been dominated by passenger cars, commercial vehicles. Only a small number of passenger cars and light vehicles such as Guangzhou Isuzu and Yangcheng Automobile, due to the seriousness of “partial divisionâ€, there is still a wide gap between Guangqi’s dream of becoming a domestic big auto group.
Since the success of Guangzhou Honda, GAC Group has not given up its efforts to fill the shortcomings of the commercial vehicle segment. It started the joint venture negotiation of modern commercial vehicles in 2004 and even considered the acquisition of domestic commercial vehicle companies. However, it failed to do so. At the end of last year, under the auspices of Toyota, Hino Motors, a subsidiary of GAC and Toyota Motor Corporation, formally established the GAC Hino project. This time GAC’s “marriageâ€, Hino, had a total investment of 3.1 billion yuan. The Guangqi-Hino Project was named by GAC Group Chairman Zhang Fangyou as a key step for GAC Group to become a real car group.
However, unlike the sedan projects, the domestic commercial vehicle cooperation projects are mostly unsatisfactory, with far-reaching Sino-SinoSteel and VOLVO truck commercial vehicle joint venture projects, and the Dongfeng Renault Truck Project “only Stairs have not seen people downstairs.†The recent cooperation between Mercedes-Benz heavy trucks and Beiqi Foton is difficult. “There are not many successes and many failures.†The fact that GAC Group is still struggling with commercial vehicle cooperation projects.
Although Zhang Fang has stated many times that he is optimistic about GAC Hino, one of the reasons is that GAC has successful experience in foreign joint ventures, and has accumulated experience in talents and management in this process. Secondly, the Pearl River Delta automobile industry cluster focusing on Guangzhou has been formed, which can provide support for the development of commercial vehicles and reduce costs. Third, the growth rate of commercial vehicles in recent years is higher than that of passenger cars. With the construction of high-grade highways in China, the development of commercial vehicles is just right.
However, unlike personal car consumption, consumer car start-up and investment are closely related. Although commercial vehicle sales in 2007 have exceeded 30%, which is more than 20% increase in the overall auto market, consumer spending in 2007 was The reasonable release of consumer restraint for three consecutive years from 2004 to 2006, driven by the Olympic factors in 2008, this year’s commercial vehicle market still has good expectations, but as the country’s macro-control continues and monetary tightening intensifies, The factors driven by investment will continue to be prudent after 2008. Therefore, it is still unpredictable that the GAC Hino project that started after 2009 can catch up with commercial vehicles.
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