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The heavy truck data from January to August basically continued the characteristics of the first seven months, JAC still ranked first with the highest increase rate of 36%, and Shaanxi Automobile was also eye-catching with a growth performance of 15%. Why are the two companies' growth rate far ahead of the industry? One thing is very close, that is, both are light assets.
For the heavy-duty truck industry, companies with their own engine resources tend to have an advantage when demand exceeds supply, while light-asset companies tend to run faster when the market is sluggish. This year, the sluggish heavy truck market confirms this rule.
This year, the domestic economic environment as a whole is not optimistic. The investment in fixed assets will be sluggish, and the production capacity of major heavy truck companies will be empty. Under such circumstances, there will be an excess of vehicle production capacity. If they also produce key components, then the production of these key components will also have a partial surplus. When the excess capacity of spare parts and vehicle parts is superimposed, these companies are more burdensome to run.
Perhaps, in the face of surplus markets, light-duty heavy truck companies are running faster.
Auman's 10 years of rapid development confirmed light run
Futian Auman's performance in the past ten years clearly shows the law of "light and fast running." Fukuda and JAC, Valin, Universiade, and other companies have started at similar paces. Frames, engines, transmissions, axles, and other key components are outsourced, and are therefore light asset companies. Many of the old heavy truck companies, such as Jiefang, Dongfeng, China National Heavy Duty Truck, Beiben, and Hongyan, have many key components that are self-made.
In the years when demand exceeds supply, enterprises that do not have supporting parts and components themselves will have more difficulties in securing key components than their own supporting enterprises. Therefore, in 2009 and 2010, the Auman heavy truck sales in the industry “had a lot to doâ€, but apparently did not go crazy.
When the entire industry is sluggish or declining, the light-hearted Auman has a better performance. For example, 2011, 2012, 2013, and this year. From 2011, when heavy trucks entered the decline channel, Auman’s growth rate entered the fast lane. After a good three years of continuous growth, Auman's sales have been almost equal to China National Heavy Duty Truck.
This year, Auman's growth is neither fast nor slow. From the aspect of assets, on the one hand, Fukuda maintains the characteristics of light assets, and does not produce gearboxes or bridges (there is a joint venture Ankai Bridge plant, but only shares). However, the biggest difference between this year and previous years is that the heavy-duty engine ISG of Foton Cummins was listed and put into production this year. This will undoubtedly split a large part of Auman's energies. Therefore, Auman this year is not particularly brilliant.
Of course, Auman’s growth in recent years is also highly relevant to its correct strategic decisions, relatively complete product system with relatively short boards, and outstanding marketing capabilities. However, in any case, it cannot be denied that its key components are matched. Few enterprises, light and simple equipment, fast market adaptability, simple structure, and personnel scouring are the key to its good development.
Jianghuai and Shaanxi Auto Light Industry Leaders
JAC heavy trucks start like Futian, and they all started from the Steyr platform. Key components such as frame, engine, gearbox, and axles are outsourced, and they are also typical asset-light enterprises.
Shaanxi Automobile's high growth this year was also completed on the basis of good performance for three consecutive years in 2011, 2012 and 2013. After years of steady growth, Foton Auman and Shaanxi Auto are now very close to the sales of Sinotruk and FAW in the first group of the original heavy trucks. It can even be said that in the current heavy truck industry, the division of the original three major groups has become less obvious, and the division between the two camps has become increasingly clear: the first camp is 100,000 clubs, including Dongfeng, FAW, CNHTC, Futian and Shannxi. Steam; the second camp is 10,000 clubs, including Jianghuai, Valin, SAIC Iveco Hongyan, Beiben and Dayun.
Three major groups running with weight
Let’s talk about the top three industries (Dongfeng, Liberation, and CNHTC), all of which are typical companies with long supporting chains and complete key components.
Among them, the industry leader Dongfeng Commercial Vehicle has been researching and developing its entire new generation of engine and gearbox in the past two years. The technical content of these key components is no less than that of the vehicle. Therefore, a large part of the energy of the Dongfeng Commercial Vehicle Company CEO is undoubtedly Putting on these new-generation components is inevitably distracting. One more point here is that Dongfeng Commercial Vehicle's newly-developed engines and transmissions this year are directly affiliated to Dongfeng Commercial Vehicles' headquarters. It is definitely different from the relationship between Xichai, Dichai, and the liberation of its independence. Therefore, these key components are costly. The management resources of commercial vehicle leadership are undoubtedly great.
Let's say that China National Heavy Duty Truck, since the introduction of the Man TG platform in 2009, the product matrix is ​​more abundant (products are simply more than dizzying), the same, the key parts are even more colorful. Engines, factories in Zhangqiu, and factories in Hangfa - originally producing Steyr platform engines, now producing locally-manufactured D20 and D26; frame, axles, Manger TG platform and Steyr platform products; Box, there are factories in Jinan and Shanxi Datong. In short, the digestion and absorption of these technologies, the management of these factories, do not need to be involved. The leadership of China National Heavy Duty Truck is also a person, not a god, and it is unlikely that the estimates will be exhaustive.
China National Heavy Duty Truck's Man series products, from the introduction in 2009, listed early last year, this year is finally getting better. This year China National Heavy Duty Truck's fairly good growth is due, of course, to the rise of Mannheim's platform products. However, there are too many CNHTC products and too many components (I think that for a company, so many platforms and products are almost overloaded). Even if the engine horsepower is stronger, it will certainly be very laborious to run, so after that, The growth rate must not be too fast.
Valin Hanma power and vehicle resources
In addition, an important factor in the decline of Valin this year is that a large part of its energy is devoted to the promotion of products such as Hanma's engines and gearboxes.
It can be imagined that from CEOs to salespeople, when most of their energy goes to allow the market to accept new parts and components, they can no longer find another user to promote the company's vehicles. Businesses, like people, have limited energy. Therefore, Valin's performance this year can be said to be dragged down by many key components. However, they have lost their reputation and have reaped grief. Although the overall performance of Valin has declined this year, its Hanma power has been promoted smoothly. A brand new engine that can gain initial recognition in the market is also an important step for Valin's strategic deployment.
This is the case in the world. You have gained the right to speak in key parts, but you have lost some of your market share. There is really no perfect thing. In any case, the fact is that you can choose to do it yourself or not, and when you make a choice, you almost have chosen the result. If you don't go into battle to get a faster pace of development, if you don't build your own engine, you'll be overwhelming to create a more unique competitive advantage in the future, but you must sacrifice current growth.
In comparison, since 2011, when the heavy-duty truck industry is no longer insane, the JAC heavy trucks have demonstrated outstanding growth capabilities, and this year they have performed outstandingly. Of course, there are many factors affecting the sales of JAC, such as its relatively strong trucks, but no one can deny that JAC, which does not produce key components, will run faster in this year's sluggish market.
Another good-looking and light asset is Shaanxi Automobile. Moreover, if you consider that Shaanxi's base number is far greater than that of JAC, then Shaanxi Automobile's high growth may be as bright as Jianghuai. Those who are not familiar with the industry may want to ask: Shaanxi Automobile does not have a gold supply chain (Weichai Engine, Fast Speed ​​Transmission, Hande Axle). How can this be considered a light asset? It should be noted here that although the three key components mentioned above belong to the same group system (Weichai Group), their operations are relatively independent. For Shaanxi Automobile Group leaders, it is almost only to worry about the entire vehicle of Shaanxi Auto. It is not necessary to expend energy on the three key components. Therefore, it can also be said that Shaanxi Heavy Trucks is an asset-light enterprise.