Changan Autonomously refills new employees, Changan Suzuki changes its name to Lingyao Automobile
Recently, some media broke that Changan Suzuki has officially changed its name to Lingyao Motors. This also indicates that Suzuki Motors, which has long announced its delisting in China, will completely bid farewell to the Chinese market.
According to the information that Gasgoo has learned from the company search, the name of Chongqing Changan Suzuki Automobile Co., Ltd. was changed on December 17, 2020. The name was changed to Chongqing Lingyao Automobile Co., Ltd., and the legal representative was Liu Zhengjun. , Is 100% controlled by Chongqing Changan Automobile Co., Ltd. The business scope includes the production and sales of self-produced cars, engines and their parts, sales of self-produced products, provision of relevant after-sales services, and relevant research and development work.
Image source: Qichacha
It is reported that Changan Suzuki is a joint venture company established by Changan Automobile and Suzuki Motor in 1993. It has launched Suzuki's Swift, New Alto, Vitra and other models. At its peak, there were also more than 200,000 vehicles sold annually. Market performance. However, due to Suzuki's main product positioning for miniaturization, Changan Suzuki's market performance is deteriorating in the increasingly large domestic automobile consumption environment. After the peak of market sales in 2011, Changan Suzuki's market performance has basically continued to decline in the following years, and it has fallen below 100,000 in 2017 (83,900 vehicles sold throughout the year).
Vitra show car, picture source: Changan Suzuki Official Account
With the continued decline in market performance, Suzuki Motors gradually began to retreat. According to data, in August 2018, Suzuki Motor announced that it would terminate the joint venture relationship with Changan Automobile and withdraw from the Chinese market. In September 2018, Suzuki Motor transferred its 50% stake in Changan Suzuki to Changan Automobile at a symbolic price of 1 yuan. Changan Suzuki changed from a joint venture to a wholly-owned subsidiary of Changan Automobile.
The information on the enterprise search shows that on November 1, 2018, Changan Suzuki’s equity relationship officially changed. Foreign shareholders, Japan Suzuki Co., Ltd. and Suzuki (China) Investment Co., Ltd., withdrew, and Changan Suzuki’s shareholders only One Chongqing Changan Automobile Co., Ltd. is left.
Image source: Changan Suzuki Official Account
After Suzuki withdrew, Changan Suzuki’s business basically stagnated. Most of its two factories in Chongqing did not start most of the production capacity. Only a small range of Qiyue taxis were produced (Changan’s own brand also Utilize part of the idle capacity). After the name was changed to Lingyao Automobile, the current publicly displayed business scope of the company has not changed much, but the specific business has not been disclosed. Judging from the current strong market demand for Changan's independent car series, the possibility of releasing more production capacity to Lingyao Automobile will not be ruled out in the future.
Data shows that Changan's independent products are currently in a good time for the market to fully bloom. In February of this year, Changan Automobile regained its position as the independent sales champion. Its Changan series of independent models appeared one after another. The market performance of Changan CS75 PLUS, Yidong PLUS, CS55 PLUS, Changan UNI-T, Auchan X5 and other models repeatedly reached new highs. , The new car UNI-K that is about to be launched is also attracting a lot of attention in the market. It can be expected that the market performance of Changan Auto will remain at a high level for a period of time in the future. There is no reason why Lingyao Automobile’s current idle production capacity should not be used.