Chủ Tịch Tập Đoàn Ô Tô Vạch Trần Gian Lận “Xe Cũ 0 Km” Của Trung Quốc

Under the thick skin of the Chinese electric vehicle industry, a silent but persistent crisis is threatening the existence of the entire ecosystem. From unyielding discounted warfare to the use of zero-kilometer vehicles and huge loans, this industry is digging its own grave. In recent years, the automotive market in China has faced many serious challenges, so the country's economy is showing signs of recovery and the competition between car manufacturers has become extremely fierce. In order to gain a foothold and expand the market, many car manufacturers have launched fierce discounted warfare. In some localities, this has led to some strange trends called zero-kilometer vehicles. Hundreds of BYD-brand cars are lying in the dust at some dealerships. These cars have been registered by the dealership itself and numbered only to boost sales, while in fact they still do not have a real owner. Most of these cars are still new, have not been sold on the road, even some cars still display the number of kilometers as zero. In essence, these are still completely new cars, only marked cars have been used. Mr. Nguyen Kien Quan, Chairman of the Great Wall Motors Group, has recently publicly exposed a hidden law that exists in the Chinese automotive industry. He said that there are many electronic trading platforms and thousands of agents in China are suspected of falsifying sales figures. But his remarks have created an electric shock in the automotive industry. In an interview with Sena Finance on May 21, Mr. Nguyen Kien Quan shared, Here, electric vehicles are in a big hole, there is no way to build a truly sustainable business model. Initial capital has been profited and withdrawn, even many leading investors have sold all their shares. In the future, everyone is still selling holes. He emphasized that the price cut has forced car manufacturers to cut costs in every way, and in the end, consumers are the ones who suffer with low-quality products. He explained that manufacturers have even cut costs for safety, durability and reliability. For example, there are previous models sold for more than 220,000 yuan, equivalent to about 770 million VND. Today, there are only more than 120,000 yuan, equivalent to about 420 million VND. He asked which product can reduce the price of 100,000 yuan, equivalent to about 350 million VND, but still maintain the initial quality. He affirmed that this could not happen at all. Consumers think that they have achieved their goal, but in fact, they are facing a huge quality risk. Mr. Nguyen Kien Quan also mentioned the chaos on the market of cars that have passed the zero-kilometer use. These cars are registered by retailers as if they were sold, but then reappeared on the platforms to buy and sell old cars. Thousands of people sell on online platforms, greeting these cars. In fact, they have never been handed over to real buyers. The agents simply take them to the old car market and sell them at a lower price of 20-30% compared to the new car. This form can even affect the safety of the car. So why do car companies do such things? One of the main reasons is to beautify the sales figures, thereby being able to earn government subsidies. Moreover, selling these cars in the form of old cars also allows export companies to use tax incentives. When the sales figures become beautiful, investors will be reassured that the company's stock price has a basis to maintain stability, and the company has a reason to continue to boost production, even if it leads to huge stock pressure. Mr. Nguyen Kien Quan, also known as a straightforward person and not afraid to express his point of view, did not hesitate to talk to Senna Finance. His public criticism of the chaos on the market of cars that have passed the zero-kilometer use has created a wave of controversy across the Chinese automotive industry. On May 27, the Ministry of Commerce of China held an emergency meeting. The meeting was attended by representatives of leading industrial organizations, technology research centers, large car companies such as Dongfeng, BYD, as well as old car platforms such as Waxo and media companies such as Doyang Group. According to Reuters, a source directly revealed that the Ministry of Commerce was trying to boost sales, but the car has passed the use but has not been sold. Because the meeting is confidential, this source requested to be hidden. After the meeting, the share price of Chinese car manufacturers such as BYD and Leap Motors fell by more than 3.1%, and the Hong Kong Hong Song Auto Index fell by more than 2%. The zero-kilometer car is the dark side of the Chinese automotive industry. In recent years, the Chinese automotive market has developed at an impressive rate, creating a very vibrant and vibrant appearance. However, behind that luxury, there is a deep crisis. The increasing competition has pushed car manufacturers into a non-stop race, fighting for shares at all costs and finding ways to free their customers. Not only is there a problem, the car has passed the zero-kilometer use. Now there is another dangerous trend on the market. Selling at a high price means buying at a high price, but selling at a lower price. The more you sell, the heavier the loss. The situation has become serious to the point where there is almost no way out. A senior leader, hidden name of a car manufacturer in the country, revealed that the companies have been pressuring agents to receive an excess number of cars. In order to achieve this goal, they have issued promotional policies such as compensation for sales or financial subsidies, forcing agents to buy more than they actually need. Even when an agent only needs about 150 cars a month, the manufacturer still forces them to receive 200 or more cars. The result is that agents fall into a trap with a large amount of stock that cannot be sold. The situation of buying a car at a high price and then selling it has become a new normal. Agents, suppliers, and consumers are all trapped in a financial trap. Stocks are frozen, profits are plummeting, and debt is becoming extremely difficult. This is also the reason why many car agents have to close their doors. This pressure is really violent and cruel. When cars have passed the zero-kilometer use, new buyers will immediately realize the value of their car, free to leave right after receiving the car. When an accident occurs, they don't know who to find to ask for insurance and repair. Many consumers are trapped in a trap and don't know who to call. This is no longer a normal business competition, but a slowdown and destruction of the entire industry. The most terrifying thing is that this bubble is built up from fake sales figures, government subsidies, and very high financial loans. When the bubble breaks, ordinary people will be the most vulnerable. Young people still have to pay off their debts to buy a car, believe that they own a new car. Meanwhile, salespeople at jobless agents, car dealers, do not make money, and all become victims of a legalized fraud. In China, the car industry crisis is not only limited to companies like BYD, but also reflects the serious fluctuation of trust in China's entire manufacturing industry. In an interview, Mr. Nguyen Kien Quan expressed his deep concern that this crisis could harm China's efforts in selling cars to the international market. He is concerned that the issues of reputation will completely destroy the global image of Chinese car brands. The host reiterated a comment on social media, if you turn off the light of others, your own light will not be brighter. In response, Mr. Nguyen Kien Quan said, no matter what kind of light it is, if it is a ghostly light, I will definitely turn it off. This straightforward answer shocked the audience and immediately sparked a heated debate on online platforms. Some car commentators voiced their support for Mr. Nguyen Kien Quan, saying that he is one of the very few who dares to speak the truth and expose the fake reputation that is spreading to the Chinese car industry. To be honest, now in the car industry there is only Mr. Nguyen Kien Quan who dares to speak frankly, a commentator said. Mr. Nguyen Kien Quan warned that the Chinese car industry is going through an Evergrande moment, a time when a huge bubble is about to collapse. Some people say that he has said too much, but look back at Evergrande before it went bankrupt. The loan loan was extremely high, expanding its horizons to many areas, discounting financial data, the leader received a high salary and personal profits, paying the supplier with meaningless promises that made them fall into a financial crisis, then spreading too much rumors to go bankrupt when investigated. Now, looking back at what Mr. Nguyen said, it can be seen that the Chinese car industry is also on the right track. The only difference is that the collapse has not yet officially happened. Mr. Nguyen Kien Quan has always called for a fair and orderly competition, does not want to see low-quality products and the reduction of quality to race at a low price. He is fighting for the long-term future and sustainable development of the Chinese car industry. However, the actual situation is not at all as expected. The entire industry is becoming a mess. Car manufacturers cut down on quality to reduce prices, squeeze suppliers to save money, reduce the number of sales to race for fame. Mr. Nguyen knows that such a rumor will affect a lot of people and in fact, he has to endure countless criticisms, even attacks from the online community. Interestingly, in the past few days, Mr. Leung Phi, the director of BYD, has posted two full-length articles on Weibo, which seems to be in response to recent criticisms. In the first article, he posted three photos of dogs with the phrase, dogs can bite people, but people can't bite dogs. In the second article, he posted a poster of the film Nen Trong Hang Mo with the image of Chuong Khuoc, a ghost-killing character, with the message, Nen Trong Hang Mo. Although these articles are quite vague, they quickly attract attention and even top the trend. Many netizens speculate that Mr. Leung Phi is hinting at the words of Mr. Nguyen just like a dog's bark, as if he were being pinched directly. In fact, as the saying goes, you don't need anyone to blame if you have a sharp conscience. On the Chinese car day, the collapse was inevitable. The frank statements of Mr. Nguyen Kien Quan and the surrounding debate have shaken the Hong Kong stock market. On May 26, the stock market of car industry collapsed, GAE decreased by 9%, BYD decreased by 8.9%, Leap Motors decreased by 8.8%, and Great Wall Motors decreased by 5.2%. These figures show that Mr. Nguyen's warnings about the bubble of the car industry have really touched the most sensitive nerves of the market. Mr. Nguyen did not give out baseless threats. What he said was simply to reveal the truth that the Chinese electric car market is in a constant decline, like a time bomb hiding many risks. Currently, most large car companies in China have a debt ratio of 60-80%. Only one company has exceeded 90%, but has not broken the debt. The share of the car industry is only below 20%, much lower than the real estate sector. However, these figures cannot fully reflect the reality. If you look closely, many data do not count the huge costs of expanding to the international market, building factories and advertising brands. These high risk investments are often hidden from financial reports. What is more worrying is the quality of profits. According to the University of Tsinghua, the average profit of Chinese electric vehicles is only below 10%, while Toyota maintains a stable 20% and Tesla exceeds 25%. This shows that Chinese car companies are putting everything on the line just to maintain their existence. Profits of 9.15 billion yuan, about 32,000 billion yuan, of BYD in the first quarter mainly come from suppressing suppliers, receiving premiums and pushing exports. But that also raises a big question. How long can they suppress suppliers? How long will the supply last? And will exports be able to withstand the new trade tariffs? While in the domestic market, the race to reduce prices, fight for supply and find capital is still fierce, the situation abroad is getting more and more difficult. In Thailand, Brazil and Hungary, Chinese car companies have faced many obstacles. This shows that the Chinese car industry is very sensitive to geopolitical changes and foreign tax policies. These changes have really started. In 2024, the European Union launched an anti-tax investigation against Chinese electric vehicles. Germany, France and Italy also demanded a new tax. The US increased the tax on Chinese electric vehicles by more than 100%. India even completely banned Chinese electric vehicles. According to the Association of Chinese Car Manufacturers in 2024, this country exports more than 6 million cars, but more than 35% are low-profit, About 60% of the export market is based on 0% tax and high tax rates. At the Munich Motor Show, BYD has reduced the price of Han EV models by 20%, reducing profits by half. Many foreign customers were shocked when they bought a car for 150,000 yuan, about 525 million dong. Only 6 months later, the price has fallen to 100,000 yuan, about 350 million dong. Currently, when Europe and the US tighten trade barriers with Chinese electric vehicles, the export market is almost closed, supply sources are cut, capital flows out, the global dream of companies like BYD is gradually breaking down. The golden age of Chinese car manufacturing is coming to an end. This is the truth behind the car that has passed the zero-kilometer use that Mr. Nguyen Kien Quan warned. He saw all the illusions hidden under the American numbers and affirmed that sustainable development cannot be based on unsustainable capital flows. He said, there is no business that can exist without profit. China has gone through this path from the Internet, real estate, education to aesthetic medicine. Everything was flourished when the capital was invested, then exploded and left behind. Now, the car industry is rebuilding that path. To save capital, car manufacturers sell to the point that they force suppliers to go bankrupt. Some suppliers have to wait a whole year to be paid, or be asked to reduce the price by 30% if they don't want to lose the contract. To exist, many businesses have to accept poor quality. Mr. Nguyen Kien Quan emphasized that reducing the price from 220,000 yuan to 120,000 yuan is about 420,000 yuan and still claims that the quality does not change. In fact, it is a deception of consumers. Buyers thought they could buy a car, but in fact, it could be a low-quality car, lack of airbags, low-cost batteries and a safe hidden store. People in the industry clearly understand what they are hiding. BYD and GE have partially succeeded in getting ahead of others, but their model is based on supply and export chains, so how long can it last? The rapid rise of the Chinese electric car industry is largely due to huge grants from the government. In 2022 alone, China has allocated up to 92.4 billion yuan about 323,400 billion dong to support the price of electric cars. Including taxes, lower levels and local policies, the number has risen to nearly 500 billion yuan, about 1.75 billion dong, about 20% of the country's education budget that year. In other words, each electric car is fed by people's tax money. But since January 1, 2023, the state-owned market has officially ended. By 2024, locals have also begun to cut taxes, register and prioritize transportation. The rapid decline of the policy has caused car manufacturers to run out of time. In the first quarter of 2024, the R&D costs of car manufacturers began to decline. Car manufacturers began to cut wages, eliminate capital features as standards, and make the supply chain go up. More than 400 companies in the electric car supply chain have gone bankrupt or disbursed since 2023. Among them are more than 70 subcontractors, no longer in the supply chain, and the eco-system has collapsed. Without the eco-system, Chinese car manufacturers are nothing. Currently, they still rely on banks and capital based on assets. But as long as the money is split, the next bubble will certainly break.