Author | Zhen Yao, Shen Tianxiang

Editor | Li Guozheng

Produced by | Bangning Studio (gbngzs)

On August 14, SAIC Motor Corporation Limited announced another major personnel change.

On the same day, SAIC Motor Passenger Vehicle's official WeChat account announced that Yu Jingmin, the former Party Secretary and Executive Vice President of Sales and Marketing at SAIC Volkswagen, had been appointed Executive Vice President of SAIC Motor Passenger Vehicle Co., Ltd. by the decision of the SAIC Motor Party Committee;

Zhu Yong, the former Executive Director of Power Drive Platform, Business Planning and Project Management Department at SAIC Motor Passenger Vehicle, was appointed Vice President of SAIC Motor Passenger Vehicle Co., Ltd.

Almost simultaneously, SAIC Volkswagen also announced that Tao Hailong, the General Manager of SAIC Volkswagen, would concurrently serve as the Party Secretary of SAIC Volkswagen.

Fu Qiang, the former Executive Director of Volkswagen Brand Marketing Business at SAIC Volkswagen, succeeded Yu Jingmin as Executive Vice President of Sales and Marketing at SAIC Volkswagen and General Manager of Shanghai Anji Automobile Sales Co., Ltd.

A few days earlier, on August 9, SAIC-GM announced four new personnel appointments.

Going back further, on July 18, SAIC Motor's chairman Chen Hong retired due to age, resigning from his positions as Chairman, Director, and Strategic Committee Chairman of the company's 10th Board of Directors. Wang Xiaoqiu, the former President of SAIC Motor, was promoted to Chairman, and Jia Jianxu, the former Vice President, was promoted to President.

SAIC's current round of personnel changes is relatively late. In fact, the wave of the new energy era has triggered revolutions in technology, products, marketing, and other aspects, directly raising higher requirements and new challenges for corresponding senior management positions in automakers. As a result, the automotive industry kicked off this wave of major personnel changes in early 2023.

First, the core leadership of major automotive groups completed a historic transition.

On February 23 last year, Xu Liuping, the former Chairman and Party Secretary of FAW Group, was promoted to Party Secretary of the All-China Federation of Trade Unions. On the same day, FAW Group officially announced that Xu Liuping would no longer serve as Chairman and Party Secretary of China FAW Group Corporation Limited as decided by the Central Committee.

Ten days later, on March 3, 2023, the leadership of Dongfeng Motor Corporation, another state-owned automaker, changed as Zhu Yanfeng stepped down as Chairman and Party Secretary of Dongfeng Motor Corporation.

Since then, the positions of the heads of FAW Group and Dongfeng Motor Corporation, two major state-owned automakers in China, have been vacant for some time, arousing attention and speculation in the industry. After a six-month wait, the selection of chairmen for the two automakers was finally settled.

On August 31, 2023, Qiu Xiandong was promoted to Chairman and Party Secretary of China FAW Group Corporation Limited. On October 27, Yang Qing was promoted to Chairman and Party Secretary of Dongfeng Motor Corporation.

Then, in July this year, Wang Xiaoqiu was appointed Chairman of SAIC Motor.

As the saying goes, "a new broom sweeps clean," and the first thing a new leader often does is clean up the personnel situation. After nearly a year of planning and adjustment, China's top three automakers—SAIC Motor, China FAW Group, and Dongfeng Motor Corporation—have basically completed a major personnel adjustment across the group's top management, business unit executives, and key brand positions. This major change involves three major automotive groups, hundreds of thousands of employees, and assets worth tens of billions of yuan. During this period, China's automotive industry is at a juncture where the new energy wave, intelligent connected vehicle technology innovation, and globalization strategies converge. The industry is becoming increasingly competitive, with the market landscape changing rapidly, and value and price wars coexist. At present, after completing the first half of the electrification race, China's auto industry has shifted gears to enter the second half of the intelligent race. This is another battle of wisdom and courage. From this perspective, time is pressing, and the tasks are arduous. The test for senior executives has just begun.

SAIC Motor: Defending the Sales Crown

At the end of last year, SAIC Motor took the lead in adjusting its core management.

On December 22, 2023, SAIC Motor announced three important personnel appointments: Jia Jianxu, the former General Manager of SAIC Volkswagen; Jiang Jun, the former CEO of IM Motors; and Wu Bing, who concurrently served as General Manager of SAIC Motor Passenger Vehicle and CEO of Feifan Automobile, were all promoted to Vice Presidents of SAIC Motor.

It is worth noting that Jiang Jun, as a representative of the post-70s generation, together with the outstanding post-75s generation represented by Jia Jianxu and Wu Bing, constitutes a new force in SAIC Motor's vice-presidential team. After this adjustment, six of the eight vice presidents in the group came from the post-70s generation, reflecting SAIC Motor's ongoing efforts to optimize the age structure of its management and its full trust and emphasis on the talents of younger leaders.

In July and August of this year, SAIC Motor completed a comprehensive overhaul from the top to the middle levels.

First, the old and new leaders alternated, marking a new stage of development for the group.

Subsequently, various business units under the group, such as SAIC Motor Passenger Vehicle, SAIC-GM-Wuling, SAIC Volkswagen, and SAIC-GM, successively carried out adjustments and replacements among senior executives. Youthfulness is a common characteristic of the new leadership teams in each segment, and they all have rich front-line practical experience in technological innovation, marketing, supply chain management, and overseas business.

Although it is normal for personnel changes to occur with changes in leadership, such large-scale personnel changes are closely related to SAIC Motor's transformation and upgrading, especially in light of declining sales and market share.

On the evening of August 9, SAIC Motor released its July production and sales report, stating that the company's vehicle sales and new energy vehicle sales both declined significantly year-on-year that month. In particular, SAIC Volkswagen, SAIC-GM-Wuling, and SAIC Motor Passenger Vehicle, as core subsidiaries, showed weaker market performance, further highlighting the pressure during the industry's transformation period.

According to the data, SAIC Motor sold 251,500 vehicles in July, a year-on-year decrease of 37.16%. Among them, 71,100 were new energy vehicles, a year-on-year decrease of 21.85%.

As a result, SAIC Motor has lost its position as the domestic sales champion for two consecutive months, surpassed by BYD, indicating that the competitive landscape of China's automobile market is undergoing transformation and reshaping.

In July, BYD sold 342,400 vehicles, achieving a year-on-year growth of 30.60%. In June, these figures were 341,700 and 35.02%, respectively.

SAIC Motor is standing at a critical juncture. With the retirement of former Chairman Chen Hong, a series of important missions and tasks have naturally fallen on the shoulders of the new chairman, Wang Xiaoqiu. Like Chen Hong, Wang Xiaoqiu is a veteran of SAIC Motor, having worked for the company for 35 years. Now 60 years old, he has no intention of resting on his laurels.

On June 20, Wang Xiaoqiu led the release of the "Shanghai Automotive Industry Corporation (Group) 2024 Quality Improvement and Efficiency Enhancement and High Return Action Plan" (hereinafter referred to as the "Plan"). The Plan outlines SAIC Motor's work initiatives for this year, focusing on accelerating the development of independent brands, promoting new energy products, and expanding overseas markets.

It can be said that these three aspects are the current priorities and pain points of SAIC Motor's operations and the three burdens that Wang Xiaoqiu must shoulder after taking office.

The first is SAIC-GM. Among SAIC Motor's multiple businesses, SAIC-GM was once one of the pillars of sales but has been in obvious difficulties in recent years.

In July, SAIC-GM sold only 15,000 vehicles, down more than 80% year-on-year. Cumulative sales from January to July were 240,600 vehicles, down more than 50% year-on-year, indicating a precarious situation.

In this round of personnel changes, SAIC-GM became a key target for reform.

According to the new personnel appointments, Lu Xiao, the former Executive Deputy General Manager of Pan Asia Technical Automotive Center, succeeded Zhuang Jingxiong as General Manager of SAIC-GM.

Wang Conghe, the former Deputy General Manager of Pan Asia Technical Automotive Center, was promoted to Executive Deputy General Manager.

Cai Bin, the former Assistant President of SAIC Motor, rejoined SAIC-GM as Party Secretary.

In the field of marketing, SAIC-GM also made personnel changes. Xue Haitao, the former Deputy General Manager of SAIC-GM-Wuling, succeeded Lu Yi as Vice President of SAIC-GM, specifically responsible for marketing.

According to SAIC-GM, Lu Xiao joined Pan Asia Technical Automotive Center in 1997 and has held various important positions such as Chief Engineer of the Midsize Car Platform, Executive Director of Project Management, Deputy General Manager, and Executive Deputy General Manager of Pan Asia Technical Automotive Center. He led the development of important models such as the Buick Regal, LaCrosse, and Chevrolet Malibu.

Wang Conghe joined SAIC-GM in 2003 and has held positions such as Executive Chief Engineer of the Drive System Department of Pan Asia Technical Automotive Center, Executive Deputy Chief Engineer of the Ultium Electric Platform Project at SAIC-GM, and Deputy General Manager of Pan Asia Technical Automotive Center.

Xue Haitao joined SAIC-GM-Wuling in 2007 and has held positions such as Director of Administration and Public Relations, Director of Sales, Network, and Marketing, Vice President and General Manager of Sales, and Vice President of SAIC-GM-Wuling.

Another focus of SAIC Motor's adjustments is SAIC Volkswagen. Compared to SAIC-GM, although SAIC Volkswagen's performance has shown some stability, its decline is also evident.

In July, SAIC Volkswagen sold 81,000 vehicles, down 18.18% year-on-year. Cumulative sales from January to July were 593,000 vehicles, still maintaining a certain scale but down 1.53% year-on-year, indicating that market pressure is gradually accumulating.

Facing this situation, SAIC Motor made personnel adjustments on July 18, announcing that Jia Jianxu would no longer concurrently serve as General Manager of SAIC Volkswagen. Subsequently, Tao Hailong, the former General Manager of Huayu Automotive Systems Co., Ltd., was appointed General Manager of SAIC Volkswagen and concurrently Party Secretary on August 14, taking full responsibility for the overall operation and strategic planning of SAIC Volkswagen.

At the same time, SAIC Volkswagen also announced that Fu Qiang would serve as Executive Vice President of Sales and Marketing and General Manager of Shanghai Anji Automobile Sales Co., Ltd. His rich marketing experience may bring a breakthrough for SAIC Volkswagen.

Born in 1968, Tao Hailong has over 30 years of experience in the automotive industry, having worked long-term in the Quality Assurance and Manufacturing Departments of SAIC Volkswagen and possessing rich experience in vehicle production and manufacturing.

Fu Qiang, Tao Hailong's partner, was born in 1977 and joined SAIC Volkswagen upon graduation in 1999. He has held various positions such as Sales Manager of the South China Sales Service Center, Customer Service Manager for After-sales Services, Manager of the Volkswagen Brand Network Development and Management Department, Manager of the Powertrain and Platform Management Department, and Executive Director of the Volkswagen Brand Marketing Business. He has also participated in the establishment of the ID. pure electric product marketing system and promoted the transformation and restructuring of the Volkswagen brand marketing system.

Obviously, in the personnel layout of SAIC Volkswagen, a dual strategy of "old leading the new" and "technology + sales" is employed. On the one hand, experienced leaders with rich management experience and innovative capabilities are appointed to ensure the steady implementation of corporate strategies. On the other hand, young and daring leaders are entrusted with specific execution and market expansion, injecting vitality and momentum into the enterprise.

This year marks the 40th anniversary of SAIC Volkswagen. Facing challenges such as the transition to new energy and intelligence, and the reshaping of the market landscape, SAIC Volkswagen focuses on youthfulness and diversification to promote more direct and efficient communication with customers.

These two joint venture automakers, which were once the "cash cows" of SAIC Motor, are now in varying degrees of distress. Therefore, SAIC Motor has shifted its focus to its independent brand—SAIC Motor Passenger Vehicle—as the new "locomotive."

In the new personnel layout, Yu Jingmin and Zhu Yong form a golden combination.

Yu Jingmin, a veteran in the automotive industry with nearly 30 years of experience, has held various positions such as Regional General Manager of SAIC Volkswagen, Sales Director of the Skoda brand at SAIC Volkswagen, Vice President of SAIC Motor Passenger Vehicle, Executive Vice President of Sales and Marketing at SAIC Volkswagen and General Manager of Shanghai Anji Automobile Sales Co., Ltd., and Party Secretary of SAIC Volkswagen Automobile Co., Ltd.

As a "technical" executive, Zhu Yong has also accumulated over 20 years of experience in the automotive industry. He has held positions such as Senior Manager of the Engine Department, Senior Manager of the NLE Project, Director of the Powertrain Project Management Department at the SAIC Motor Technical Center, and Executive Director of the Power Drive Platform at the Business Planning and Project Management Department of SAIC Motor Passenger Vehicle.

However, despite the vitality and momentum injected by Yu Jingmin and Zhu Yong into the new management team of SAIC Motor Passenger Vehicle, the challenges they face remain formidable.

According to plans, SAIC Motor aims to increase its annual sales of new energy vehicles to 3.5 million by 2025, which is 2.5 times the figure in 2022, requiring a compound annual growth rate of up to 50%. Moreover, SAIC Motor expects its independent brands to dominate new energy vehicle sales, accounting for 70% of the total.

While plans are one thing, reality is another. The situation at SAIC Motor Passenger Vehicle is not optimistic. According to the latest data, in the first seven months of this year, SAIC Motor Passenger Vehicle sold a cumulative total of 385,100 vehicles, down 20.19% year-on-year. This indicates that SAIC Motor Passenger Vehicle faces enormous pressure in the new energy race.

Dongfeng Motor Corporation: Group Operations

On October 27, 2023, Yang Qing was promoted to Chairman and Party Secretary of Dongfeng Motor Corporation, marking the beginning of the "Yang Qing Era" at Dongfeng. Prior to this, Yang Qing served as the General Manager of Dongfeng for over seven months and has been in charge of the company for a total of approximately 17 months since taking on the role of Chairman. During this period, significant adjustments were made from the leadership team to the heads of various business units at Dongfeng.

New faces have emerged in the leadership team.

On March 27 this year, Zhou Zhiping, former Deputy General Manager and member of the Standing Committee of the Party Committee of FAW Group Corporation, was promoted to Director, General Manager, and Deputy Secretary of the Party Committee of Dongfeng Motor Corporation;

On April 30, Huang Yong, former Party Secretary and Executive Deputy General Manager of FAW Toyota, was transferred to Deputy General Manager and member of the Standing Committee of the Dongfeng Motor Corporation Party Committee;

On June 11, Dongfeng Motor Corporation's official website added two new members to the leadership team: Liu Yanhong, former Director and Party Secretary of Hubei Provincial Human Resources and Social Security Department, was appointed as Director and Deputy Secretary of the Party Committee of Dongfeng Motor Corporation; Peng Yuanpu, former Chairman and Party Secretary of China First Automobile Works Group Corporation, was appointed as Deputy General Manager and member of the Standing Committee of the Dongfeng Motor Corporation Party Committee.

Under Yang Qing's leadership, the biggest change at Dongfeng Motor Corporation is the shift from individual breakthroughs to group operations.

Currently, Dongfeng Motor Corporation has formed a "4+2" business layout, with "4" representing the Autonomous Passenger Vehicle Business Unit, Commercial Vehicle Business Unit, Parts Business Unit, and Financial Services Business Unit, and "2" referring to two joint venture passenger vehicle brands—Dongfeng Honda and Dongfeng Nissan.

Last April, Dongfeng Motor Corporation announced that it would accelerate the implementation of the "Three-Year Action Plan for Transformation and Upgrading" based on the "Dongfang Fengqi" plan and the technological innovation "Leapfrogging Action." To adapt to the new market situation, Yang Qing promoted Dongfeng Motor Corporation's transformation and upgrading through innovation in management systems and mechanisms.

All business units quickly sprang into action, with the Autonomous Passenger Vehicle Business Unit firing the first shot.

On August 16, 2023, Dongfeng Motor Corporation announced the implementation of the "Leapfrogging Action" for new energy vehicles in the Autonomous Passenger Vehicle Business Unit, marking a significant change in the management system for this business unit.

According to this plan, Dongfeng Motor Corporation headquarters will directly operate the Autonomous Passenger Vehicle Business Unit, and the group will establish Dongfeng Passenger Vehicle Sales Co., Ltd. and Dongfeng Passenger Vehicle Manufacturing Headquarters to centrally manage product planning and project management for the three major product series under the "Dongfeng" brand—Dongfeng Fengshen, Dongfeng eπ, and Dongfeng Nano—achieving centralized management of business, manufacturing, and marketing.

At this point, Dongfeng Motor Corporation has formed a trifecta in the field of new energy passenger vehicles—the new "Dongfeng" brand targeting the mainstream market, the "Voyah" brand targeting the high-end new energy market, and the "M50" brand targeting the luxury electric off-road market.

The initial goal of centralized management is to streamline management levels, improve decision-making efficiency, leverage synergies, and seize the window of opportunity for new energy initiatives.

To effectively achieve this goal, Dongfeng Motor Corporation has optimized the incentive mechanism for new vehicle model project management systems and promoted the transformation of project management (PM) systems. PMs will be responsible for sales and revenue targets throughout the lifecycle of new models. This "high goal, high incentive" model is both pressure and motivation.

According to our sources, Huang Yong is currently responsible for the operation of Dongfeng Passenger Vehicle Company, including manufacturing and sales. Within the Dongfeng brand, Shi Jianxing, General Manager of Dongfeng Fengshen Marketing Business Unit, and Yu Fei, General Manager of Dongfeng Yipai Marketing Business Unit, have been promoted to Deputy General Managers of Dongfeng Passenger Vehicle Sales Co., Ltd.

Chen Meng, the former General Manager of Dongfeng Nano Marketing Business Unit, has been transferred back to Dongfeng Motor Corporation headquarters to serve as the head of the Industrial Collaboration Office. Yu Yuefeng, Deputy General Manager and Deputy Party Secretary of Dongfeng Zhuolian Automotive Service Co., Ltd., has been appointed as Assistant General Manager and Sales Department Director of Dongfeng Nano Marketing Business Unit, overseeing its operations.

In addition, Chen Hao serves as Deputy General Manager of Dongfeng Passenger Vehicle Company; Duan Renmin, Deputy General Manager of Dongfeng Passenger Vehicle Company, serves as Head of Dongfeng Passenger Vehicle Manufacturing Headquarters; and Qin Xuanyuan, former General Manager and Party Secretary of Zhengzhou Nissan Automobile Co., Ltd., serves as Party Secretary and Deputy Head of Headquarters.

In addition to the Autonomous Passenger Vehicle Business Unit, other business units are also undergoing reforms.

Firstly, more than two months after implementing the "Leapfrogging Action" for new energy vehicles in the Autonomous Passenger Vehicle Business Unit, Dongfeng Motor Corporation announced the implementation of the "Leapfrogging Project" for new energy vehicles on November 6 last year. A Research and Development Academy was established to build a "1+n" research and development system, focusing on new energy transformation and upgrading. This deeply integrates the group's research and development system and resources, comprehensively enhancing research and development efficiency.

On March 29, 2024, after reaching retirement age, Tan Minqiang, Deputy Chief Engineer of Dongfeng Motor Corporation and former President and Party Secretary of the Research and Development Academy, was succeeded by Yang Yanding, a young leader born in the 1980s. Tang Jing, former General Manager of Dongfeng Liuzhou Motor Co., Ltd., was appointed as Party Secretary and Vice President of the Research and Development Academy of Dongfeng Motor Corporation.

Secondly, on March 28, Dongfeng Motor Corporation announced the establishment of the Commercial Vehicle Business Unit to centrally manage Dongfeng Commercial Vehicle Co., Ltd. (Dongfeng Commercial Vehicle), Dongfeng Motor Corporation Limited, Dongfeng Liuzhou Motor Co., Ltd. (Dongfeng Liuzhou Motor), and Dongfeng Special Commercial Vehicle Co., Ltd. (Dongfeng Huashen Automobile Co., Ltd.). It will also coordinate the management of Zhengzhou Nissan Automobile Co., Ltd., and phased integration of commercial vehicle operations, promoting centralized management of research and development, manufacturing, procurement, and ultimately achieving integrated operations in the commercial vehicle business.

Thirdly, on July 5, Dongfeng Motor Corporation announced the implementation of the "Leapfrogging Innovation Project" for parts, establishing the Parts Business Unit to centrally manage parts operations and concentrate resources to promote business transformation and development, aiming to build a first-class parts enterprise with core competitiveness.

The Parts Business Unit will be responsible for managing Wuhan-based Zhixin Science and Technology Co., Ltd. (Dongfeng Zhixin), which focuses on new energy vehicle batteries, motors, and electric control systems; Dongfeng Hongtai Holding Group Co., Ltd., which has parts operations in Wuhan; Shanghai-listed Dongfeng Electronics Technology Co., Ltd.; and Dongfeng Honda Auto Parts Co., Ltd., a long-time profit center for Dongfeng Motor Corporation located in Huizhou, Guangdong Province.

Together, these initiatives have enhanced Dongfeng Motor Corporation's competitiveness in the market, realizing the shift from individual breakthroughs to group operations and demonstrating a positive trend of transformation, breakthroughs, and catch-up. Dongfeng Motor Corporation aims to achieve high-quality transformation and upgrading by the end of 2025, in line with its three-year action plan.

FAW Group Corporation: Leading the Way with Its Autonomous Brands

On July 16, at FAW Group Corporation's 60 millionth vehicle and 9 millionth Jiefang truck roll-out ceremony, a new face appeared among the leadership team—Chen Bin, the newly appointed Deputy General Manager of FAW Group Corporation. This was his first public appearance in his new role, less than 72 hours after taking office. On July 11, FAW Group Corporation announced the appointment of new leadership team members, with Chen Bin taking on the roles of member of the Standing Committee of the Party Committee and Deputy General Manager of FAW Group Corporation, according to a notice from the Central Organization Department regarding the appointment of leadership team members.

Chen Bin is the fourth Dongfeng Motor Corporation cadre to join FAW Group Corporation's leadership team, following Xu Ping, Qiu Xiandong, and Lei Ping.

Public records show that Chen Bin was born in 1976 and graduated from Huazhong University of Science and Technology with a Bachelor's degree in Mechanical Manufacturing in 1998 and a Master's degree in Vehicle Engineering from Tsinghua University in 2013.

Chen Bin joined Dongfeng Motor Corporation in 1998 and served the company for 26 years, with 11 years in research and development, 4 years in manufacturing, 5 years in party and mass organization management, and 6 years in corporate management.

Currently, Chen Bin's work at FAW Group Corporation focuses on parts, deepening reforms, safety and environmental protection, and other areas. He also assists Wang Guoqiang, Director and Deputy Secretary of the Party Committee of FAW Group Corporation, in guiding the strategic planning and execution of the Besturn brand's development.

The leadership team of FAW Group Corporation has undergone several adjustments this year.

On March 15, Liu Yigong was promoted from member of the Standing Committee of the Party Committee and Deputy General Manager to General Manager of FAW Group Corporation. On June 13, Wu Bilei was promoted from Chairman and Party Secretary of FAW Jiefang to member of the Standing Committee of the Party Committee and Deputy General Manager of FAW Group Corporation.

On March 27, Zhou Zhiping, former Deputy General Manager and member of the Standing Committee of the Party Committee of FAW Group Corporation, was transferred to serve as Director, General Manager, and Deputy Secretary of the Party Committee of Dongfeng Motor Corporation.

As the "elder son" of the republic, FAW Group Corporation faces significant pressure to transform.

This year, FAW Group Corporation has set a target of achieving at least 3.47 million vehicle sales, with an autonomous sales target of at least 900,000 vehicles, aiming to exceed 1 million.

However, based on market performance in the first half of the year, FAW Group Corporation faces considerable challenges. Its total vehicle sales reached 1.48 million, but this was a 3.9% year-on-year decline. In contrast, BYD sold 1.61 million vehicles, outselling FAW Group Corporation by 130,000 units.

FAW-Volkswagen and FAW Toyota, which have long been the mainstay of FAW Group Corporation's sales, experienced double-digit declines in sales in the first half of the year. FAW-Volkswagen sold 754,500 vehicles, a year-on-year decrease of 10.91%, while FAW Toyota sold 329,000 vehicles, a decrease of 11.8% from 373,000 vehicles sold in the same period last year.

Autonomous brands have emerged as a new highlight. In the first half of the year, FAW Group Corporation's total sales of autonomous brands reached 416,000 vehicles, a significant year-on-year increase of 25.7%, far exceeding the industry average. Based on the current growth trend, FAW Group Corporation has already achieved 46.2% of its annual sales target of 900,000 vehicles—putting it well on track to meet its full-year target.

However, faced with the fierce onslaught of electrification and intelligence, the top priority for FAW Group Corporation's management team is to lead the brand to make breakthroughs in cutting-edge areas such as new energy vehicles and intelligent networking. The personnel changes at China's top three automotive groups reflect not only the natural process of metabolism and generational change but also the profound transformations and multiple challenges facing the automotive industry in a complex and ever-changing market environment.

On the one hand, sales have become an unavoidable test for major automakers. Intense market competition has led to widespread pressure on sales, forcing companies to continuously adjust their strategies to cope with market fluctuations.

On the other hand, while the new energy vehicle sector is booming, the issue of profitability remains unresolved. Many new energy automakers must confront the dual challenges of cost control and profit models while pursuing technological breakthroughs and market expansion.

At the same time, traditional fuel vehicle manufacturers are also facing difficulties, leading to the "weaning" of joint venture operations. Finding a balance between transformation and adherence has become a difficult challenge for them.

As an old Chinese saying goes, "Man proposes, God disposes." Only by continuously innovating, accelerating transformation, and strengthening our competitiveness can we remain invincible in the fierce market competition.