Rebirth 99 to become a car giant

The moon shines brightly on Kyushu, making some families happy and others sad.

While China's automobile industry is booming, the situation on the other side of the Pacific is completely different.

In the first few months of this year, sales of the three largest American car companies, General Motors, Ford Motor and Chrysler, all fell by more than 20%.

Especially General Motors, which once topped the list of the Fortune 500, its stock price hit a historic low on May 15 this year, reaching $1.09.

In 2000, it rose to a high price of 94.62 yuan.

The lowest point is nothing compared to the highest point.

Under such circumstances, it is inevitable that General Motors will become insolvent.

"Mr. Cao, I just got the news that General Motors officially filed for bankruptcy and reorganization with the government today."

Late at night, Cao Yang received a call from the United States.

General Motors is going bankrupt!

This is definitely a very big impact on the current automobile industry.

General Motors!

That is the company that has topped the world's automobile sales for 77 consecutive years.

There is nothing more powerful than it in the entire history of automobiles.

It is such a company that cannot escape the fate of bankruptcy and reorganization due to the debt crisis.

In fact, since 2005, General Motors' sales have been in decline due to the decline in market share.

By 2007, General Motors' losses reached more than 30 billion U.S. dollars, nearly half of its 2006 market sales.

To make matters worse, affected by the U.S. subprime mortgage crisis in 2008, General Motors' sales performance and stock market were even more bleak.

"Based on today's situation, General Motors' liabilities have reached US$172.81 billion, which is more than double the company's current assets and has reached the level of serious insolvency."

"It is estimated that it will enter the formal stage of bankruptcy and reorganization next."

Zhang Jing, who was still busy in the United States with the acquisition of Nvidia, reported to Cao Yang the most important news there.

In the automotive industry, something big has happened!

"I understand. It seems that the sales volume of the American automobile market this year is going to set a new historical record, but this record is a bad record."

"Taking advantage of this opportunity, many companies in the United States should also be panicking. If there are suitable talents, they can also take the opportunity to recruit."

"Especially for R\u0026D and design personnel related to chips or control systems, we have as many as we need."

Although to many people, General Motors' filing for bankruptcy seemed like the sky was falling for the auto industry.

In fact, for Cao Yang, this was nothing at all.

He knew very well that the bankruptcy of General Motors would not have that big an impact on the automobile industry.

It may even involve the interests of a group of people on Wall Street.

The specific content is not something that ordinary people can figure out.

Anyway, in the end, it was the funds related to the United States and Maple Leaf Country that became the takers.

However, Cao Yang could treat this matter very calmly, but it was different for others.

For example, many people at Magic General Motors also noticed the news immediately, and various internal communication groups immediately became excited.

"Austin, I don't quite understand. Although General Motors' global sales have declined, it is still the number one in the world."

"Why are you suddenly filing for bankruptcy?"

As the vice president of Modu GM, Wang Huiliang naturally had to have a good chat with general manager Austin.

How much impact General Motors' bankruptcy will have on Shanghai General Motors is something Wang Huiliang needs to grasp in advance.

Otherwise, you will be in a hurry when the time comes, and something might happen.

After all, although Modu General Motors owns 50% of the shares of Modu Auto, the source of its technology is General Motors.

If General Motors really goes bankrupt, what will happen to GM in the future?

The pressure in Wang Huiliang's heart is not ordinary.

"It's a long story, and there are many reasons."

Austin knew that if he didn't have a good chat with Wang Huiliang, the other party would definitely keep looking for him.

So I simply explained my understanding to him.

"The first reason is that labor costs are too high, which leads to increased company costs."

"General Motors has a long-term labor dispute with the United Auto Workers. Most of its employees are members of the United Auto Workers. This means that the company not only has to bear the high insurance costs of current employees, but also the huge amount of retired employees and their Medical benefit costs for dependents.”

"At the most exaggerated time, the company once owed more than 50 billion US dollars in employment expenses."

"Unlike General Motors, Toyota Motor Corporation, a Japanese car company that also produces cars in the United States, refuses to recruit members of the United Auto Workers of America in order to avoid such a costly labor tug-of-war."

"As a result, the hourly labor cost of Toyota's factories in the United States is more than half that of General Motors."

"The second reason is that in 2001, the American auto market fell into a consumption downturn. In order to get out of this predicament, General Motors adopted a five-year zero-interest credit measure to stimulate consumption."

"This policy has indeed stimulated the auto market, but the direct consequence of low-interest financing is to directly impose high financial costs on General Motors, increasing the company's financial burden."

"In addition, the management's mistakes in a series of decisions such as abandoning its electric vehicle project, focusing its energy on the SUV production line, and insisting on high-energy-consuming product lines not only caused the company to miss a critical period of industrial transformation."

"You may not think that SUVs have been very popular in China in recent years, but they are actually the remaining tricks played by the American market."

"It just so happens that when China's SUV market is very hot, the models produced by GM here are mainly sedans."

"Another one is the impact of the subprime mortgage crisis. Everyone knows this."

"The subprime mortgage crisis that broke out in the second half of last year exacerbated General Motors' financial and operational crisis."

"The subprime mortgage crisis has seriously affected the real economy of the United States. The bankruptcy of a large number of companies has led to a sharp increase in the social unemployment rate. The market consumption capacity closely related to it is also declining, and the automobile sales market is shrinking."

"While General Motors is suffering from declining profitability, the company's cash flow has also dried up due to the impact of tight credit policies."

"Suffering a double blow, the company finally went on the road to bankruptcy and reorganization."

"Of course, General Motors has long held the largest sales share in the global market. This has led to blind optimism from the top to the bottom of the company, leading to complacency and lack of progress. It has diluted its awareness of business crises and its keen sense of the market. Even if the company is in debt again, No one in Kaodu thought the company was at risk of bankruptcy."

"That's definitely a very important reason."

"But, Wang, you don't have to worry too much."

"General Motors' main debt is held by the U.S. government. As one of the most important industrial companies in the United States, it will certainly not eventually fail."

"The so-called bankruptcy reorganization is just a process of releasing burdens."

Austin's explanation can be considered quite sufficient and candid.

Most people may not be able to accurately analyze these contents.

The more at this time, the greater the significance of the Chinese market to General Motors.

Austin naturally hopes that he can lead Magic City General to make some contributions when the headquarters is in the most difficult time.

By then, he might have the opportunity to further improve his level.

Therefore, he still attaches great importance to Wang Huiliang's ideas and is willing to communicate candidly.

"According to your statement, General Motors's filing for bankruptcy will not have any substantial impact on our city, General Motors?"

This issue is definitely what Wang Huiliang is most concerned about.

Whether the operations of Modu General Motors will be affected by the bankruptcy of General Motors is not only a question that Wang Huiliang wants to figure out, but also something that the leaders of Modu Automobile Group want to figure out.

It's even a question that Magic City hopes to figure out.

If this matter is not explained clearly, many people will have trouble sleeping.

After all, Modu Automobile and its related industrial chains are still very meaningful in terms of the GDP contribution of Modu City.

Especially in this year's environment where we need to focus on maintaining growth, no one wants anything to happen to Modutong.

"Yes, it won't have any impact."

Austin gave his reply very definitely.

"If there is any impact, it is that General Motors will pay more attention to the Chinese market in the future and introduce more new models to China."

"The importance of our Magic City Universal will also further increase."

When Austin said this, he was not trying to make a fool of himself.

Judging from the current situation, it is basically a certainty that China's automobile market will surpass the United States and become the world's largest automobile market this year.

Even this result does not need to wait until the end of 2009 to know.

Under this circumstance, General Motors, as the leader of the world's automobile industry, naturally hopes to also have the status of the leader in China, the world's largest automobile market.

However, Volkswagen is now firmly ahead of General Motors.

This will definitely make many people at General Motors very dissatisfied.

Volkswagen is nothing in the American market.

Why do they sell better than General Motors in China?

It makes no sense!

"I hope the actual situation is exactly what you said."

"Otherwise our next work will be more passive."

"The best thing is to make all media aware of this."

"Otherwise, I don't know how they would report it."

Wang Huiliang's worry is obviously not unreasonable.

Just as the two of them were discussing General Motors' application for bankruptcy and reorganization in the United States, the news completely broke on the Chinese Internet.

Not only is the headline news on Weibo about the bankruptcy of General Motors, but even the headline news on the four major portals are related to General Motors.

Needless to say, professional automotive media such as Autohome have launched a special topic and arranged for a group of people to work overtime to write articles around this news.

"America Today: Seven Factors Leading to General Motors' Bankruptcy!"

“What impact will General Motors’ bankruptcy and reorganization have on Chinese consumers?”

“The British media believes that the root cause of GM’s bankruptcy lies with itself!”

“China Automotive Technology Research Center: GM’s bankruptcy will have limited impact on China!”

“American Automotive Research Center: The impact of GM’s bankruptcy protection is immeasurable!”

“Japanese automobile experts: The financial crisis caused automobile overcapacity!”

“Volkswagen executive: GM’s bankruptcy was more due to the deterioration of market trends!”

"GM will shrink by half, and the American auto industry will undergo a major reshuffle!"

"NetEase Finance has an exclusive interview with a U.S. auto expert to analyze GM's bankruptcy process!"

"Former senior consultant of General Motors: American car culture is over!"

…

Various reports have rocked the automotive industry and financial fields.

As for those who know how to surf the Internet, there are few who have not heard of the bankruptcy of General Motors at this time.

Even the impact of this incident can be compared to the collapse of Lehman in the eyes of some people.

The media from all walks of life are extremely happy this time.

With such breaking news, you don’t have to worry about running out of material for the next month.

The final result of General Motors' bankruptcy will definitely not happen in a day or two.

We will continue to provide you with a variety of materials in the future.

General Motors is a good comrade!

"Mr. Yu, we have arranged an interview team to fly to Detroit to follow up on General Motors' bankruptcy and reorganization."

It is already ten o'clock in the evening, but the lights are still bright inside the car home.

He Ling and Yu Yu are both still busy in the office.

As a media person, don’t think about commuting to get off work on time every day.

As long as the news comes, no matter what time it is, you must hurry up and write the article.

Obviously, the current big news of General Motors' bankruptcy is a great opportunity for media outlets like Autohome to exert their influence.

If you miss it, it may give other media some opportunities to rise.

"I heard that after General Motors goes bankrupt, some of its brands should be closed or sold. When the time comes, our people will focus on this news."

"Maybe there will be some new big news coming out by then."

"Buick, Chevrolet, Cadillac, GMC, Mercury, Hummer, Pontiac, Saab, these are all brands owned by General Motors."

"Ford has already started a sell-sell model. Now that General Motors has gone bankrupt and reorganized, it will definitely follow a similar path."

"Maybe by then these news will be related to some domestic car companies."

It must be said that Yu Yu's vision is still very unique.

Her analysis is still very reasonable.

Now other media are basically focusing on the reasons for General Motors' bankruptcy and its impact on the future.

Domestic media still do little analysis on how the company will be reorganized after bankruptcy and what actions it will take.

More often than not, no one even pays attention to this.

In fact, this is news that has more reference and reference significance for some companies in the industry.

"It's true. General Motors currently has too many models and brands. After bankruptcy and reorganization, even if the management is unwilling, they will definitely be forced to cut costs and cut off some unprofitable projects."

"Ford Motors has relied on this kind of plan to survive today."

"Even Ford has gone through the most difficult period, and it should not go to bankruptcy and reorganization."

He Ling is obviously very familiar with the situation in the automobile industry.

There must be many reasons why General Motors is in today's situation.

Management made some bad judgments, which must have played a role.

But after the reorganization, many things will definitely change.

Otherwise, I won’t be able to explain it.

"Our topic can focus on the various brands of General Motors and make some articles to popularize relevant knowledge to everyone."

"Domestic consumers are not particularly familiar with brands such as Mercury, Pontiac, GMC and Hummer."

"If we take this opportunity to introduce it to everyone, many people will be interested."

"It is even more meaningful to take advantage of General Motors' bankruptcy and exit to attract a group of netizens who were not originally very interested in the automotive industry to become loyal users of our Autohome."

Yu Yu began to assign some specific tasks to He Ling.

At this time, it is definitely necessary to work together and speak out quickly what comes to mind.

Otherwise, other media may have taken the lead.

It would be funny if Autohome's market share dropped due to General Motors' bankruptcy.

"No problem, I'll make arrangements now!"

"If you sort out the materials in this area, you can indeed form quite a few articles."

"When the time comes, it may become a reference article for some domestic car companies."

He Ling is relatively clear about the thoughts of some domestic car companies.

Since Xingchen Motors acquired Jaguar Land Rover, many domestic car companies have begun to make moves and frequently contact some external brands to see if they can find acquisition opportunities.

If GM was doing well a few years ago, they certainly wouldn't have considered selling off its brands.

But now that they are going bankrupt and reorganized, the situation is naturally different.

There will definitely be some stories happening by then.

He Ling is very confident about this.

The one who is also very concerned about this matter is naturally the NetEase Auto Channel.

People from Autohome are working overtime to write manuscripts, and Lin Jiayan and the others are not idle either.

"Editor Fang, I checked some media reports in the United States. Many media believe that General Motors will go bankrupt because they have paid too much attention to SUV models and large-displacement models in recent years."

"China's automobile market is now increasingly paying attention to SUV models."

"Luxury car companies such as Xingchen Motors and Jaguar Land Rover have a large number of large-displacement engine models."

"Will some car companies eventually go bankrupt like General Motors?"

Lin Jiayan put forward a relatively unique point of view from a different perspective.

Although she herself feels that this view is a bit inconsistent with the current booming market situation, it seems to make sense when applied to the situation in the United States.

Such a somewhat contradictory situation made Lin Jiayan herself a little dizzy.

"I don't think it's a big problem for General Motors to focus on SUV models. After all, the sales volume of SUVs is indeed very impressive."

"General Motors' current sales are not very good. The main reason is that the price/performance ratio is not as good as that of Toyota and Honda."

"For the same product, General Motors is more expensive than others, its fuel consumption is higher, and its defective rate is also higher."

"In this case, consumers will naturally consider buying Toyota and Honda products."

"Your Honda CRV and Toyota RAV4 and other SUV products are also selling very well in the United States."

"But if you look at the selling prices of these models, they are not high at all."

"Coupled with GM's high labor costs, it is inevitable that the products will not be competitive."

"On this point, whether it is Xingchen Motors, Jaguar Land Rover, or other domestic independent brand car companies, the situation is different from the same car."

"So even if a group of car companies in China go bankrupt in the end, it will definitely not be because of General Motors."

"There are hundreds of car manufacturers in China now, and even our professional car media have names of many car companies that we have never heard of."

"This situation is definitely not normal."

"The automobile market as big as yours in the United States only has a few local car companies."

Fang Dawen has been involved in the domestic automobile market for so many years, but the longer he has been involved, the less he understands some domestic situations.

The Chinese automobile market is really special.

"Then what aspect would be better for our reporting to focus on this time?"

"Now not only the auto channel is reporting news related to General Motors' bankruptcy, but the financial channel is also very active."

"I even heard that the financial channel has arranged for two people to fly to the United States specifically to get first-hand information."

Lin Jiayan knew that the bankruptcy of General Motors was the hottest thing during this period, and the Automobile Channel would definitely seize the opportunity.

But how to seize the opportunity and how to stand out, she was a little confused.

"Let's do a special topic a week."

"This week, we can focus on why General Motors went bankrupt and write about General Motors' past and present life."

"Later, we can focus on the warning and reference significance of General Motors' bankruptcy to our automobile industry."

"After that, we will make a special topic based on General Motors' bankruptcy and reorganization plan and the future development of the automobile market."

"In a few weeks, the heat on this matter should have slowly passed, and by then we will have other key content to focus on."

Fang Dawen has been the editor-in-chief for so many years, and his thinking is still very broad.

When Lin Jiayan asked, he gave a clear answer.

Sometimes it is easier to work with a leader like this.

You don’t need to fiddle around, just get started.

What I'm afraid of is that if you don't express anything, you'll feel like you're not a good leader.

That kind of work makes me feel so depressed that I want to vomit blood!