SMM6, March 3: after paying a huge price, the domestic epidemic has been basically brought under control. however, during the response to the epidemic, China's domestic economy nearly ground to a halt, with negative GDP growth in the first quarter, a record. With the successful conclusion of the two sessions, the solid progress of the resumption of work and production, and the resumption of business and market in an orderly manner, domestic consumption urgently needs to be stimulated in order to enhance economic vitality and accelerate social and economic recovery and development.
Recently, the Central Civilization Office has guided all localities to protect the needs of people's livelihood in the establishment of civilized cities. in the evaluation indicators of civilized cities across the country this year, it has been clearly required that road management, road markets and mobile traders should not be included in the evaluation and assessment of civilized cities. we will promote the establishment of civilized cities to play a more active role in the process of restoring economic and social order and meeting the needs of people's lives.
During an inspection tour of Yantai, Shandong Province on the morning of June 1, Premier Li Keqiang said that the stall economy and the small shop economy are important sources of jobs, are human fireworks, and, like "high-end", are the vitality of China. At this point, the "stall economy" is hot all over the country.
Due to the rising popularity of the "stall economy", it has also pulled up the relevant demand. On the other hand, the public WeChat account from Wuling special-purpose vehicles is entitled "the regular main force of the stall economy!" "the article really made Wuling very popular.
It was the emergence of this article that led to a rapid rise in the share price of Wuling Motors in Hong Kong in the afternoon, rising by more than 120% at one point. This is followed by the abnormal pull of the A-share vehicle plate, Futian Motor, Changan Motor, Jiangling Automobile, Zhongtai Automobile, Yaxing bus, Guangzhou Automobile Group and so on.
When it comes to Wuling Automobile, it must be a household name, known as "Wuling miraculous car" by Chinese people. The company is the leading manufacturer of domestic commercial micro-engines and auto parts, and is an enterprise qualified to produce electric trucks. Manufacturing facilities are mainly located in Liuzhou and Qingdao.
Wuling special-purpose vehicles mostly appear in every corner of the country as consumers' favorite minivans, such as pickups are popular in the United States. Wuling vans have a lot of fans in China because of their convenient, practical, cost-effective and cost-effective advantages.
In 2018, SAIC GM Wuling sold 2060007 vehicles in the domestic market, ranking second among domestic car companies. With the addition of 17000 vehicles from its Indonesian subsidiary, the total annual sales will reach 2.077 million, which will rank first among domestic single car companies. Yes, it is also a car brand with annual sales of millions of domestic cars, and it is 2 million of sales, which is unbeatable. Wuling also let SAIC gain a lot from itself.
SAIC GM Wuling is deeply disturbed by the continued downturn in the domestic car market in 2019. SAIC GM Wuling sold 1660007 units in 2019, of which 1055981 were under the Wuling brand, with terminal sales up 2.4 per cent over the same period last year. But there has been a decline in sales, compared with more than 2 million in 2018. In order to deal with the problem of single model and declining sales, Wuling Motor has not only continued to develop traditional models in recent years, but also increased the size of new energy vehicles through sub-brand Baojun. In 2019, 6050 units of Baojun new energy series have been sold, an increase of 132% over the same period last year. The company plans to launch 10 new cars this year, including six new models and four new models, including the RS-7, the new MPV model RM-C, and the pure electric vehicle E300 released on January 13th, which will include new energy products. The E100 miniature pure electric car launched by Baojun has occupied the streets of Liuzhou.
On March 31, Wuling announced its annual results for 2019. According to the financial report, Wuling's annual income in 2019 was 14.224 billion yuan, down 5.9% from the same period last year, and the loss attributable to shareholders was 21.232 million yuan. Wuling said the decline in revenue was mainly due to the continued malaise of the market environment in China's auto industry.
With the continuation of the downturn in the car market, with policy stimulus, consumption is expected to become the engine of economic recovery in the future, "stall economy" coupled with the continued release of automobile consumption policy, the future operating pressure of Wuling Motor is expected to weaken.
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