Changan ford has been fined 162.8 million yuan by the state administration of market supervision (saic) for implementing a vertical monopoly agreement, according to a statement on the saic's website today (June 5).
Once the news was released, the share price of changan automobile (000625, SZ) was also affected to some extent, and the share price fell by more than 7% at one time.
In the course of the investigation, changan ford did not provide evidence that the relevant activities met the exemption requirements of article 15 of the anti-monopoly law, the source said.
In response to the punishment, changan ford said:
"Changan ford fully respects and firmly implements the punishment decision made by relevant national authorities in this anti-monopoly investigation, and we have taken action to standardize regional sales management with dealers.
At the same time, we will continue to further standardize our business activities in accordance with the requirements of national laws and regulations, and earnestly safeguard a free and fair market competition environment."
According to popular understanding, a monopoly agreement is an act of two or more operators (including business associations and other operators' groups) to set a fixed price, divide the market, limit production and exclude or limit competition through agreements or other concerted actions.
In addition, it seems that changan ford is having a difficult time this year. In the first quarter of 2019, the sales volume of changan ford dropped significantly, only 36,800 vehicles, a 71.79% year-on-year decline. However, this is not the first time that the sales volume of changan ford has decreased by 54.3% as early as 2018, only 377,800 vehicles were sold.
According to the annual report data of changan ford, in 2018, changan ford had a net loss of 803 million yuan on the revenue of 49.754 billion yuan.
Compared with the revenue of 106.027 billion yuan and the net profit of 12.171 billion yuan in 2017, changan ford not only experienced a sharp decline in revenue in 2018, but also experienced a loss from profit for the first time.
In addition, the winter of China's automobile industry is approaching, China's automobile market is facing unprecedented challenges!
In April 2019, the automobile market has seen 11 consecutive months of declining sales, and some automobile enterprises and brands are even struggling. Some enterprises even face the risk of "collapse" of the market and channels.
Therefore, 2019 is a crucial year for changan ford. According to the performance of changan ford in the first four months of this year, it is not easy for changan ford to turn over.
Changan ford on April 25, was established in 2001, is China's well-known car manufacturers joint venture, is located in chongqing, in chongqing new north zone (CNNZ) by changan automobile co., LTD. Jointly funded and ford motor company, to undertake all the business related to ford, changan ford Mazda including ford brand development, manufacturing, sales and service.