, founded in 2010, GAC Fick , officially withdrew from the historical stage after 12 years.
According to media reports, GAC Fick has officially filed for bankruptcy due to insolvency, with a total debt of over 8.1 billion yuan.
I believe most people will not be surprised when they see this news. Because as early as July 18 this year, Stellantis Group and GAC Group jointly announced that the two sides are negotiating and orderly termination of the joint venture due to the inability to resume normal production and operation and continued losses in recent years.
In the opinion of Chekuai Comment, the inability to resume normal production and operation is not the main reason, the main reason is the serious losses caused by GAC Fick's sales in the domestic market in the past two years.
As a car owner of GAC Fick, don’t worry. Even if GAC Fick filed for bankruptcy, Stellantis Group has made it clear that it will continue to provide services to existing Jeep brand customers.
After buying Jeep brand models, you can only buy purely imported ones.
Review the history of GAC Fick in China and has also had gloriousness. Especially after the 2016 Compass and Liberty Light were produced in China, the sales volume was once gratifying, with sales of 179,900 units, a year-on-year increase of nearly three times.
By 2017, GAC Fick's sales reached its peak, with a total annual sales of 222,300 vehicles.
Originally, with its advantages in SUVs and taking advantage of the domestic SUV market, GAC Fick should have made great achievements.
Take a step back, even if you cannot become the overlord of SUVs like Great Wall, it should not be a big problem to maintain annual sales of 200,000 to 300,000 vehicles.
But it’s a pity that GAC Fick did not seize this precious opportunity, and sales have been declining year by year since 2018.
In addition to market factors, the main reason is that GAC Fick has not controlled the quality of its products. Its models, such as gearboxes and engines, are frequently encountered, and consumers complaints.
After entering 2022, GAC Fick's sales in some months were single digits.
So, after GAC Fick, will the next joint venture brand that disappeared be GAC Mitsubishi?
sales data showed that sales in September were 6,079 vehicles. Among them, the sales of Outlander were 5,956 units, a month-on-month increase of 102.59%.
From January to September this year, GAC Mitsubishi sold 27,036 vehicles, ranking at the bottom among all joint venture car brands.
As of the first half of this year, GAC Mitsubishi's total assets were 8.132 billion yuan, total liabilities were 6.574 billion yuan, and the debt-to-asset ratio was 81%.
Next, it depends on how the market performance of the new generation Outlander, which will be launched this month.
If there is no significant improvement in sales, then the next disappearing joint venture car brand will definitely be GAC Mitsubishi.
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