Sort out the main points:
The company focuses on luxury brand layout:
The company focuses on luxury brand development, with 10 luxury and ultra-luxury brand combinations, including BMW, Audi, Porsche, Maserati, Jaguar Land Rover, Volvo, Cadillac, Infiniti and so on. Among the 113 stores, 91 are luxury and ultra-luxury brand outlets, 17 high-end brand outlets and 5 after-sales service outlets.
From a sales perspective, BMW accounts for nearly 50% of new car sales, Jaguar Land Rover accounts for about 12%, and Porsche and Maserati together account for about 5% of sales. In the future, the company will focus on the development of BMW, Porsche and Maserati brands.
BMW is expected to benefit from its impressive performance in the first half of this year. But over the same period, Jaguar Land Rover remained weak in terms of sales and gross profit margins, failing to recover from undervaluation, which is expected to have a negative impact on the company's performance. The impact of one positive and one negative effect on the overall performance of the company still needs to be tracked continuously.
The company actively adjusts the management model to improve operational efficiency:
After the company was acquired by Guanghui Group, it actively adjusted its management model. Abandon the original family brand management model, introduce the regional management model under Guanghui professional manager mode, set up regional total leadership and management, and each region will set up different brand plans according to the situation of different regions. Secondly, the company changed the original assessment mechanism based solely on sales volume as KPI, and introduced more KPI parameters in line with the current profit model of the company, such as whether the sales staff recommended auto finance products, whether recommended used car replacement services, and so on. In addition, the company introduced Guanghui's ERP system to help carry out refined and more effective management and supervision. The company believes that with the further integration of the company and Guanghui resources, the company's operational efficiency will be further improved under the new management model.
Derivative services will be the main focus in the future:
The company takes the expansion of automobile derivative business as the main line, by improving the existing regionalization and hierarchical management model, developing derivative services close to customer needs, such as auto finance, second-hand car and insurance, and introducing these businesses into employee KPI is conducive to the implementation of the company's strategy.
The development of the company's auto finance business has achieved remarkable results. Dingxin Leasing, a subsidiary, and Guanghui Group play a synergistic effect, improve risk control ability, optimize and enrich innovative financial products. In 2018, the company achieved financial services business income of 261 million yuan, an increase of 22.1% over the same period last year.
The company actively laid out the used car business. In 2018, the trading volume of used cars was 36586, up 30.6% from the same period last year; the penetration rate was 34.82%, up 7.82% from the same period last year; and the replacement rate was 21.37%, up 3.97% from the same period last year. There is still broad room for growth in the future. At present, the company has more than 40 used car centers, providing professional testing services and quality assurance services, and will further expand its scale in the future.
Summary of recommendations:
In the company's brand structure, BMW, Porsche and Land Rover performed well in the first half of the year, but due to Jaguar Land Rover's weak sales and profits, the company's performance growth elasticity still needs to be observed. After the company is acquired by Guanghui, the change effect of the management model and the long-term positioning of the company also need to be tracked continuously. It is recommended to pay attention.