01
NEWS
Automakers and Dealers
①Great Wall Motors’ Half-Year Net Profit Halved
Recently, Great Wall Motors disclosed its performance report for the first half of 2023. The financial report shows that the total operating revenue for the first half of this year was 69.971 billion yuan, a year-on-year increase of 12.61%, achieving growth for three consecutive years. However, its net profit attributable to shareholders was 1.361 billion yuan, a year-on-year decline of 75.69%; the net profit after deducting non-recurring gains and losses was 749 million yuan, a year-on-year decline of 63.60%.
Regarding the significant decline in net profit, Great Wall Motors stated that the company is deepening its transformation towards new energy and intelligence, adjusting its product structure, increasing investment in brand and channel development based on the launch of new products in 2023, while also maintaining R&D investment in new energy and intelligence, as well as a decrease in exchange rate gains.
②Xiaomi-Backed Company Sued by Tesla
Recently, according to the Tianyancha App, Tesla (Shanghai) Co., Ltd. has filed a lawsuit against Ice Zero Intelligent Technology (Changzhou) Co., Ltd. for infringement of trade secrets and unfair competition. The plaintiff is Tesla (Shanghai) Co., Ltd., and the case will be heard in the Shanghai Intellectual Property Court on October 10.
It is reported that Ice Zero Intelligent Technology (Changzhou) Co., Ltd. was established in May 2022, and Xiaomi invested in the company in March this year. Ice Zero Intelligent’s business scope includes the manufacturing and sales of integrated circuit chips and products, manufacturing of automotive parts and accessories, and R&D of automotive parts, which may have a commercial relationship with Xiaomi’s automotive supply chain.
02
NEWS
After-Sales and Service Market
①Shanghai Launches Nine New Policies to Stimulate Automotive Consumption
Recently, the Shanghai Municipal Commission of Commerce and eight other departments issued the “Several Measures to Revitalize Automotive Circulation and Expand Automotive Replacement Consumption in Shanghai,” which mentions the introduction of a new round of subsidies for replacing old vehicles; continuing to implement subsidies for replacing new energy vehicles; integrating the application process for special license plates for new energy vehicles; and further optimizing the export process for used cars, among nine specific measures.
In recent years, Shanghai has introduced multiple rounds of policies to promote automotive replacement consumption, continuously enhancing the convenience of new car purchases and used car transactions, achieving phased results. The scale of automotive consumption accounts for more than 10% of the city’s total retail sales of consumer goods, playing a strong role in stabilizing growth and promoting consumption.
②DomesticTire Market Faces Price Hike Again in September
As September begins, several tire manufacturers in the domestic market have announced price increases.Among them, Zhongce Chaoyang brand all-steel tires will increase by 4% starting in September; Yongsheng Rubber all-steel tires will implement a price recovery of 1% from September 1; Qirun Tires has directly issued a price increase notice, informing that prices for certain specifications will rise by 1%-2% starting September 1; Linglong Tires will increase prices for all PCR brands and product series by 2%-5% and for all TBR brands and product series by 3%-6% starting September 27, with specifics to be based on the company’s new invoicing prices.
03
NEWS
Parts and Supply Chain
①Reports Indicate Samsung to Supply Camera Modules to Tesla
Recently, according to South Korean media reports, Samsung Group’s electronic components subsidiary, Samsung Electro-Mechanics, announced that it has signed a contract to supply in-vehicle camera modules to an American electric vehicle manufacturer.However, the quantity and amount of supply have not yet been determined.
Although Samsung did not disclose the specific information about this American automaker, based on widespread speculation from foreign media and industry insiders, the partner is likely Tesla.The Tesla Full Self-Driving (FSD) project relies on cameras to capture images and provide information to its neural network, and Samsung may become a key link in the supply chain.
②Volkswagen Factory Reduces Working Hours Due to Parts Shortage
Volkswagen recently stated that due to recent floods in Slovenia leading to a shortage of parts supply, the company will reduce the working hours of employees at its main factory in Wolfsburg for three weeks in September.Additionally, the factory in Emden, northern Germany, will also cancel certain production shifts.
It is reported that the floods in Slovenia caused a subcontractor’s rim production line to become paralyzed, which has impacted Volkswagen. The Volkswagen Workers’ Council stated last week that the parts shortage from the Slovenian supplier will also lead to a nine-week shutdown of Volkswagen’s factory in Portugal from September 11 to November 12.
*All text and image materials in this article are sourced from the internet
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