Finance

Don’t think it’s difficult for the legal system car. PSA group made a profit in the first half of the year

Under the continuous influence of the epidemic, the global automobile market is in a recession, which also causes the performance reports of many automobile companies in the first half of the year to be eclipsed. A few days ago, Volkswagen group reported a loss of about 11.53 billion yuan in profit before tax, while Renault lost as much as 60 billion yuan in the first half of the year. Daimler lost 15.6 billion yuan in the second quarter. Even Toyota Motor also predicted that its operating profit would drop by 80% in 2020, the worst performance in nine years.

but it is worth noting that PSA group, which is in a deep depression in the Chinese market, has made brilliant achievements in the first half of the year. A novel coronavirus pneumonia group announced that the PSA group announced its first half profit in 2020, and its net profit to parent company reached 595 million euros. The company’s “days” obviously outweigh some car companies under the continuous influence of the new crown pneumonia epidemic.

the reason why PSA group has been able to make profits in the case of many car companies’ losses is that it mainly benefits from the active product mix and cost control.

in fact, PSA group did not regard the Chinese market as the main market, but continued to cultivate the European market, which became an important reason for the relatively small impact this time. However, the performance of PSA group’s joint venture in Chinese market obviously lagged behind the overall PSA group.

according to the “inside information” announcement released by Dongfeng Group on August 3, according to PSA group’s financial report, in the first half of 2020, the company’s joint venture DPCA and Dongfeng Peugeot Citroen Automobile Sales Co., Ltd. had a revenue of 3 billion yuan, a year-on-year decrease of 57.5%, a loss of 1.3 billion yuan, a year-on-year decrease of 48.66%.

although it is said that the loss range of DPCA has decreased, the state of continuous loss remains unchanged. According to the data, in the first half of the year, DPCA sold 23237 new cars, a year-on-year decrease of 63.13%, and the decline rate is still expanding.

although the senior management of PSA has stressed more than once that it will not withdraw from the Chinese market, and has taken a number of measures, and has implemented the “Yuan” plan since last year, the final result shows that PSA has not found a solution out of the predicament.

in terms of product plan, in the first half of this year, Dongfeng Peugeot Citroen also began to speed up the introduction of new cars. In order to change its image in the minds of consumers, Peugeot new 2008 and Citroen c3l were successively launched, and many models were modified. However, according to the final sales data, these new cars were not recognized by consumers. With the slow sale of new cars, DPCA will face the embarrassing situation of “no license to play” in the future.

similarly, starting from this year, DPCA has also launched a streamlining plan. In the late stage of the epidemic, the competition for front-line employees has been restarted, and the total number of employees involved has reached more than 5000. It has also been reported that the competition for posts or the layoff rate is 30%. In addition, the assets of the first plant of DPCA were disposed of.

it can be said that DPCA has done a lot of work in “reducing expenditure”, but how to “open source” is still a problem. In addition, with the development of major automobile enterprises in the later stage of the epidemic, DPCA will also face greater pressure. But when PSA can’t open a situation in Chinese market, how long can PSA persist in Chinese market?

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