the car could not be registered for 3 months after it was picked up. another top 100 dealer group encountered operational difficulties
2024-09-15
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dozens of car owners bought jaguar land rover brand cars, but were unable to register them because dealers could not provide certificates and other materials.
recently, many car owners in shaoxing and changsha jaguar land rover 4s stores and jiaxing mercedes-benz stores under baolide holding group co., ltd. (hereinafter referred to as "baolid") have been unable to register their cars. many car owners told the first financial reporter that their new cars have been unable to be registered, and the waiting time for registration ranges from 1 to 3 months.
in response to questions from caixin, baolide said that the company is confident that it can quickly get out of the special stage through various measures. one of the measures is to maintain active and positive communication with manufacturers, financial institutions, shareholders and other partners, and reach further business structure optimization and adjustment plans, such as plans to gradually convert individual non-profit stores into new energy brand stores.
public information shows that the above three luxury brand 4s stores belong to baolide. baolide was established in 2001, and its business covers luxury cars, used cars, tourism, education, health care and other fields. in the automotive field, the company mainly operates luxury brands, including rolls-royce, porsche, mercedes-benz, jetour land rover, lincoln, etc., and has been deeply rooted in the yangtze river delta region. it currently has more than 30 dealerships and has been ranked among the top 20 chinese automobile dealer groups for five consecutive years.
in early september this year, some users who bought jaguar land rover cars from baolide filed a collective complaint. the car owners said that the new car's certificate of conformity was taken to the bank by baolide for mortgage, but the 4s store did not redeem the certificate and other materials from the bank after receiving the purchase price, resulting in the inability to register the car they bought in time.
the reporter found that similar delays in new car registration also occurred at the shaoxing ludexing jaguar land rover 4s store under baolide. a person from the local market supervision and management office said that they had received more than 10 complaints about the 4s store being unable to register.
many car owners said that after buying imported land rover cars at the store, they were unable to complete the registration of the new car and could only use temporary license plates. this may lead to the new car being classified as a mortgaged car or a smuggled car. as for the reason why the new car could not be registered, some car owners said that it was because the necessary information such as the customs declaration and the new car certificate was mortgaged to the bank by polylide and has not been released for the time being.
in addition to the above-mentioned jaguar land rover 4s store, the jiaxing baolide mercedes-benz 4s store under baolide also encountered the situation that new cars could not be registered or delivered late. the staff of jiaxing baolide mercedes-benz 4s store said that the store had recently stopped selling new cars, but after-sales service was operating normally. as for the reason for the suspension of new car sales, the staff also said that it was due to some problems in the group to which the 4s store belonged that led to the suspension of sales business.
regarding the issue of new cars not being registered at the above-mentioned stores, baolide responded to china business news, saying: "all stores are currently operating normally. the company is actively handling the situation of delayed delivery of cars or delayed delivery of certificates at individual stores, and is ensuring that customer problems are resolved in an orderly manner through unified deployment." a staff member of the changsha ludexing jaguar land rover 4s store also said: "our group had some problems before. domestic joint venture cars suffered heavy losses, and the sales of domestic cars were suspended for about 3 days. but sales have now resumed."
it is worth noting that during the interview, staff from baolide’s two jaguar land rover 4s stores told reporters that due to inventory pressure and new car price reduction promotions, store profits have dropped sharply, and there has been repeated bargaining between dealers and manufacturers.
a jaguar land rover dealer in south china told reporters: "due to many factors such as increased terminal discounts and a decline in the domestic fuel vehicle market share, only the defender and range rover are profitable. the rest of the models are losing money on every sale, with the highest loss for a single vehicle exceeding 100,000 yuan."
the reporter learned that jaguar land rover dealers in some areas of south china have suspended new car sales and only provide after-sales services. some dealers have withdrawn from the jaguar land rover sales network and switched to operating other brands.
according to the survey results of "auto dealer inventory" in july 2024 released by the china automobile dealers association, the inventory coefficient of 6 brands exceeded 2 months in july. among them, jaguar land rover has the highest inventory depth. looking at the whole industry, the dealer inventory warning index of luxury and imported brands is 59.3%, which is higher than the national overall level.
at the same time, over the past six months, many abnormal incidents have occurred at luxury and joint venture brand dealers. in may this year, some porsche dealers in china launched a collective protest and boycott due to sales pressure and selling cars at a loss. in the first half of this year, in order to ease the operating pressure of dealers, bmw decided to offer bmw 4s stores a number of substantial subsidy reduction policies, including a 3% price discount (payable in advance), to help ease cash flow pressure.
in addition, many auto dealer groups such as guangdong yongao and jiangsu senfeng group have suffered operating losses and even cash flow crises. last year, china's largest auto dealer group, guanghui auto, closed 50 stores with low profitability. in the first half of this year, guanghui auto expects to lose 583 million to 699 million yuan. on august 28 this year, guanghui auto was officially delisted.
the national automobile dealers survival status survey report released by the china automobile dealers association shows that in the first half of this year, the loss ratio of dealers reached 50.8%, and the profit ratio was 35.4%, and the loss area was significantly larger than that of the previous year; the average gross profit of dealers per store was significantly reduced compared with 2023. the average loss per store reached 1.78 million yuan, and the loss continued to expand. among them, the loss of new car business was particularly serious, and the gross profit contribution was negative.
(this article comes from china business network)
