after two auctions, no one showed interest in the gac fiat chrysler changsha plant, and the third round of auctions will be launched
2024-09-07
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china youth network news recently, the administrator of gac fiat chrysler automobiles issued an announcement stating that the gac fiat chrysler automobiles changsha factory will be put up for online auction for the third time. the starting price is 80% of the last unsold price, which is approximately 1.225 billion yuan. the auction will start from september 17 to september 18.
previously, gac fiat chrysler automobiles changsha plant had been auctioned twice on june 20, 2024 and july 21, 2024, but both failed due to lack of registration. after the two failed auctions, the manager postponed the third auction and actively contacted the local government investment promotion department and a few potential investment companies again. at present, there is no confirmed investment company, so the third round of online auction was held.
it is reported that gac fiat chrysler automobiles' bankruptcy liquidation began in october 2022, when the company was unable to repay all debts due to its actual assets and had basically stopped operating. on october 31, 2022, gac fiat chrysler automobiles issued an announcement that it intended to apply for bankruptcy to the court in accordance with the bankruptcy law and other current laws and regulations, and officially entered bankruptcy proceedings in november of the same year. gac fiat chrysler automobiles' guangzhou factory was subsequently taken over by gac aion and transformed into a pure electric vehicle production base.
public data shows that gac fiat chrysler automobiles was jointly established by gac group and fiat group in march 2010, and its registered address is located in changsha economic and technological development zone, hunan province. gac fiat chrysler automobiles changsha factory covers an area of over 700,000 square meters, and has four complete workshops for automobile production, namely "stamping, welding, spraying, and assembly", with a total investment of 10 billion yuan.
according to the china passenger car association, from january to july 2024, the retail sales of domestic brand passenger cars reached 6.62 million units, with a cumulative market share of 57.2%, while the market share of mainstream joint venture brands was 29.4%; and the market share of luxury brands was 13.4%. among them, the retail sales of mainstream joint venture brands in july were 440,000 units, a year-on-year decrease of 25% and a month-on-month decrease of 8%.
it is not difficult to find that with the rise of domestic new energy vehicle brands, the chinese auto market has gradually changed, and the sales of joint venture brands in china have been greatly affected. according to cailianshe, industry insiders believe that in the context of intensified competition in the domestic auto industry, auto companies may not seek to expand production blindly, and whether someone will take over the gac fiat chrysler plant at this time is still unknown.
(source: china youth network)
