The confinement bends to Kyushu, and a few families are happy and a few are sad.

While China's auto industry was booming, the situation in the Pacific was completely different.

In the first few months of this year, General Motors, Ford and Chrysler, the three largest automakers in the United States, all saw sales fall by more than 20 percent.

In particular, General Motors, which once topped the list of the world's top 500 companies, hit a record low of $1.09 on May 15 this year.

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

Compared to the highest point, the lowest point is simply a fraction of it.

In this case, it is inevitable that GM will become insolvent.

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

In the evening, Cao Yang received a call from the United States.

General Motors is going bankrupt!

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

General Motors!

It was the world's largest car sales company for 77 consecutive years.

There is no more powerful existence in the entire history of automobiles.

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

In fact, since 2005, GM has been experiencing a decline in sales due to declining market share.

By 2007, GM had lost more than $30 billion, down nearly half of its 2006 market sales.

To add insult to injury, GM's sales performance and stock market were even more dismal due to the 2008 U.S. subprime mortgage crisis.

"As it stands, GM's liabilities reach $172.81 billion, more than double the company's existing assets, and it has reached the level of serious insolvency."

"It is estimated that the next step will be to enter the formal bankruptcy and reorganization stage."

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

Automobile circle, this is a big deal!

"I see, it seems that the sales volume of the American auto market this year is about to set a new record, but this record is not good."

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

"Especially for R&D and designers related to chips or control systems, we have as many as we want."

Although for many people, GM filing for bankruptcy is like the sky is about to fall in the auto industry.

In fact, for Cao Yang, this is not a matter at all.

He is well aware that the bankruptcy of General Motors will not have such a big impact on the auto industry.

There may even be a group of Wall Street people involved in this.

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

Anyway, in the end, it was the relevant funds of the United States and the Maple Leaf Country that became the pick-up man.

However, Cao Yang can look at this matter very calmly, and others are different.

For example, on the side of the magic capital, many people also noticed the news for the first time, and the various communication groups within it immediately boiled.

"Austin, I don't really understand that GM is still the number one in the world, although its global sales have declined."

"Why are you going to file for bankruptcy all of a sudden?"

Wang Huiliang, as the vice president of Magic Capital, naturally wants to have a good chat with General Manager Austin.

How much impact the bankruptcy of General Motors will have on GM is something that Wang Huiliang needs to grasp in advance.

Otherwise, when the time comes, there may be some moths.

After all, although Modu GM has a 50% stake in Modu Automobile, the source of technology is GM.

If General Motors really goes bankrupt and collapses, 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 for this."

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 just told him all about my understanding.

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

"General Motors has a long-term labor game with the United Auto Workers, and most of its employees are members of the United Auto Workers, which makes the company not only bear the high insurance costs of current employees, but also bear the huge medical benefits of retired employees and their families."

"At its worst, the company owed more than $50 billion in employee fees because of this."

"Unlike General Motors, Toyota Motor Corp., a company that also manufactures cars in the United States, refused to recruit members of the United Auto Workers of America in order to avoid such a costly labor-management tug-of-war."

"As a result, Toyota's plant in the U.S. has more than half an hourly cost of hiring workers than General Motors."

"The second reason is that in 2001, the U.S. auto market fell into a consumption downturn, and 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 that the high financial costs are directly imposed on General Motors, increasing the company's financial burden."

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

"Don't look at the fact that SUVs have been very hot in Huaxia in recent years, but that is actually the remaining trick of the American market."

"But when the SUV market in China was very hot, the models produced by Modu GM here were mainly sedans."

"The other one is the impact of the subprime mortgage crisis, which everyone knows."

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

"The subprime mortgage crisis has seriously affected the real economy of the United States, with a large number of business failures leading to a sharp increase in social unemployment, and the consumption power of the closely related market is also declining, and the automobile sales market is shrinking."

"GM's cash flow has dried up as it suffers from declining profitability and the impact of the credit policy crunch."

"Under the double blow, the company finally went to the road of bankruptcy reorganization."

"Of course, General Motors has long occupied the first share of global market sales, which has led to the complacency and lack of progress caused by the blind optimism of the company's top management and bottom staff, diluting the sense of business crisis and sensitive sense of the market, even if the company's debt is high, no one thinks that the company will have the risk of bankruptcy."

"That's definitely a very important reason for that."

"But, Wang, you don't have to worry about it."

"The majority of GM's debt is held by the U.S. government, and as one of the country's major industrial companies, it will certainly not eventually go out of business."

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

Austen's explanation can be regarded as more adequate and candid.

The average person may not be able to analyze these contents accurately.

The more time it is, the greater the significance of the Chinese market to GM.

Austin naturally hopes that in the most difficult time for the headquarters, he can lead the magic capital to make some contributions.

When the time comes, he may have a chance to further improve his level.

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

"According to your statement, GM's bankruptcy filing will not have any substantial impact on our GM?"

This question is definitely the one that Wang Huiliang is most concerned about.

Whether the operation 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 Modu wants to figure out.

If you don't make this matter clear, many people will not be able to sleep well.

After all, Modu Automobile and its related industrial chain are still very meaningful to the GDP contribution of Modu.

Especially in the context of the need to focus on maintaining growth this year, everyone doesn't want the magic capital to produce any moths.

"Yes, it won't make a difference."

Austin replied in the affirmative.

"If I have to say that there is any impact, it is that in the future, GM will pay more attention to the Chinese market and will introduce more new models into China."

"The importance of our magic capital will be further improved."

When Austin said this, he wasn't painting pies.

Judging from the current situation, it is basically a sure thing that the Huaxia automobile market will surpass the United States to become the world's largest automobile market this year.

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

In this case, General Motors, as the leader of the world's automobile industry, naturally hopes to have the position of the leader in the world's largest automobile market in Huaxia.

However, now Volkswagen is steadily pressing General Motors.

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

Volkswagen, it's nothing in the American market.

Why do they sell better than General Motors in China?

It doesn't make sense!

"I hope it's really the same as you say."

"Otherwise, we will be more passive in our next work."

"It's better to be able to make the media aware of that."

"Otherwise, I don't know what they're going to do."

Wang Huiliang's worry is obviously not without a little reason.

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

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

As for professional automotive media such as Autohome, not to mention, all of them have a special topic, and a group of people are arranged to work overtime to write articles around this news.

"USA Today: Seven Factors That Led to GM's Bankruptcy!"

"What is the impact of GM's bankruptcy and restructuring on Chinese consumers?"

"The English media believes that the root cause of GM's bankruptcy lies in itself!"

"Huaxia Automotive Technology and Research Center: GM's bankruptcy has limited impact on China!"

"American Automotive Research Center: The Impact of GM's Bankruptcy Protection Is Incalculable!"

"Dongying Automobile Expert: The Financial Crisis Has Caused Overcapacity in Automobiles!"

"Volkswagen executives: GM's bankruptcy is more due to the general trend of the market!"

"GM will shrink by half, and the American auto industry will be reshuffled!"

"NetEase Finance has an exclusive interview with American auto experts to analyze the bankruptcy process of GM!"

"Former Senior Consultant of General Motors: The general trend of American car culture is gone!"

……

All kinds of reports have blown up the automotive industry and the financial field.

But for anyone who can surf the Internet, there are few people 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.

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

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

The bankruptcy of General Motors will certainly not have a final result in a day or two.

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

General Motors, a good comrade!

"Mr. Yu, we have arranged an interview team to fly to Detroit to follow up and report on the bankruptcy and restructuring of General Motors."

It's ten o'clock in the evening, and the interior of the Autohome is still brightly lit.

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

As a media person, don't think about commuting to and from work on time every day.

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

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

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

"I've heard that after GM goes bankrupt, some of its brands should be closed or sold, and then let our people focus on the news in this area."

"Maybe there's something new and big news coming out at that time."

"Buick, Chevrolet, Cadillac, GMC, Mercury, Hummer, Pontiac, Saab, these are all GM brands."

"Ford has started the mode of selling and selling, and now that General Motors has gone bankrupt and reorganized, it will definitely follow a similar path."

"At that time, maybe these news can be related to some domestic car companies."

I have to say that Yu Yu's vision is still very unique.

Her analysis is still very reasonable.

Now the rest of the media is basically focusing on the reasons for GM's bankruptcy and the impact on the future.

As for how it will be restructured after bankruptcy and what actions will be made, the domestic media still has little analysis.

More often than not, people don't even pay attention to it.

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

"It's true, GM now has too many models and too many brands, and after bankruptcy and reorganization, even if the management is unwilling, it will definitely be forced to cut costs and cut some projects that don't make money."

"Ford has relied on this plan to get to where it is today."

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

He Ling obviously knows the situation of the automotive industry very well.

There are certainly many reasons why GM is where it is today.

There must have been some misjudgments made by management, and there must have been a reason for that.

But after the reorganization, a lot of things are definitely going to change.

Otherwise, you won't be able to explain it.

"Our topic can focus on the various brands of General Motors to popularize relevant knowledge."

"Brands such as Mercury, Pontiac, GMC and Hummer are not particularly familiar to domestic consumers."

"If we take this opportunity to introduce it to you, it should still be of interest to many people."

"Even taking the opportunity of GM's bankruptcy this time to attract a group of netizens who were not very interested in the automotive industry to become loyal users of our Autohome, it is also a more meaningful thing."

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

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

Otherwise, maybe other media will take the lead.

At that time, it would be funny if because of the bankruptcy of General Motors, which caused Autohome's market share to decline.

"No problem, I'll arrange it now!"

"This kind of material, sorting it out can indeed form a lot of articles."

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

He Ling's thoughts on some domestic car companies are also relatively clear.

Since the acquisition of Jaguar Land Rover by Xingchen Automobile, many domestic car companies have begun to make a move, frequently contacting some outside brands to see if they can find acquisition opportunities.

If things were good for General Motors a few years ago, they wouldn't have considered selling their brands.

But now that they are going to go bankrupt and reorganize, the situation is naturally different.

There will definitely be some stories going on then.

In this regard, He Lingke is very confident.

is also very concerned about this matter, and it is naturally the NetEase Auto Channel.

The people in Autohome are working overtime to write manuscripts, and Lin Jiayan and the others are not idle.

"Editor-in-Chief Fang, I checked some media reports in the United States, and many media believe that GM will go bankrupt, which has something to do with the fact that they have paid too much attention to SUV models and large-displacement models over the years."

"China's automobile market now also has a trend of paying more attention to SUV models."

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

"Will there be some car companies like General Motors that will eventually go bankrupt?"

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

Although she herself feels that this view is a bit inconsistent with the current thriving market situation, it seems to make a lot of 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 there's a big problem with GM focusing on SUV models, after all, SUV sales are really impressive."

"General Motors is not selling very well now, and the main reason is that the cost performance is not as good as Toyota and Honda."

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

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

"Your SUV products such as Honda's CRV and Toyota's RAV4 are also selling well in the United States."

"But if you look at the price of these models, it's not that high at all."

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

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

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

"There are now hundreds of car manufacturers in China, even if they are our professional automotive media, there are many car companies whose names have never been heard of."

"This situation is definitely not normal."

"Your car market in the United States is so big, and there are only a few local car companies."

Fang Dawen has been mixed in the domestic auto market for so many years, but the longer he mixes, the more he can't understand some domestic situations.

The Huaxia automobile market is really very special.

"So what will we focus on this time?"

"Now not only is the automotive channel reporting the news related to the bankruptcy of General Motors, 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 in order to get first-hand information."

Lin Jiayan knew that the bankruptcy of General Motors was the hottest thing during this time, and the car channel must also seize the opportunity.

But how to seize the opportunity and how to stand out, she is a little out of her mind.

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

"This week can focus on why GM went bankrupt, and write about GM's past and present lives."

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

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

"In a few weeks, the heat of this matter should slowly pass, and then we will have other important content to pay attention to."

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

As soon as Lin Jiayan asked, he gave a clear answer.

It is sometimes easier to do things with such a leader.

You don't need to toss around, just get to work.

I'm afraid of the kind of leadership that doesn't say anything, and you feel like you're not doing a good job as soon as you become a person.

That kind of work is so depressed that I want to vomit blood!

(End of chapter)