On July 2, Jia announced the completion of the bankruptcy reorganization and the establishment and operation of the creditor trust. All the creditors will share the future success of FF as the shareholders of FF. At the same time, he also claimed that FF's development was officially on the fast track.

It is still unknown whether Jia Yueting's car making business can be restarted. Since this year, the new forces of car making, such as Sailin and Baiteng, have been thunderous one after another, and the legal system vehicles, such as Dongfeng Renault and Dongfeng Shenlong, have been collectively defeated. For carmakers, 2020 is an unusual start to a new decade.

Cao He, secretary-general of the Auto Chamber of Commerce of the All-China Federation of Industry and Commerce, told Time Finance on July 1 that competition has intensified this year, and traditional auto companies are facing pressure of market saturation and transformation, as well as increasing market concentration, so many auto companies cannot survive.

The curtain has opened in the second half of the year, some car companies at the bottom of the industry are in a precarious situation, the industry Matthew effect has intensified.

One by one, the new forces of car building have stalled

On June 30, the country's two new car - building forces simultaneously occupy the center of public opinion.

On the same day, Nantong Jiahe Announced that it would use its own funds to solve problems related to jiangsu Saailin Automobile because its chairman Wang Xiaolin stayed away from the United States. Wang Xiaolin had been accused of losing billions of state funds by his employees. It also emerged that The company's CEO, Robert Dai, held a meeting and decided to suspend operations in China from July 1 for at least six months.

In addition to Sailin and Baiteng, since this year, including Green Chi, The future, Bo County car and other new forces have struggled in the line of life and death, in contrast, Nextev, Xiaopeng, ideal and other new forces of resilience has become prominent.

New power to build cars on the list, data from public information, The Times financial mapping

According to the latest registration data of auto companies, in the first five months of this year, only five new power manufacturers have sold more than 1,000 cars, among which Nextev is the leader, while the sales volume of auto companies including Yundu, Xintai, Singularity and Tianji is less than 100.

As a heavy asset industry, in the capital crazy a few years ago, the new force to build cars is undoubtedly a big winner in financing, but the capital wind back, the cash-strapped car companies immediately fell into a halt situation.

In the cash crunch, employee arrears and supplier payments ensued. Shareholders, chairman of the mutual "crusade" and other plays also in the new force of the car frequently staged.

In May, it emerged that Lu Qun, the company's chairman, had been singled out by a court for restricting high consumption. The Times financial inquiry tianyan investigation learned that as of June 8, Lu Qun has a total of three consumption restrictions, the time is May 12, June 5, June 8.

Until This June, some employees disclosed to the media that they had not received their salary before leaving.

Also hit by the furore over unpaid wages are Bo County Motor and Sailin Motor.

Since the beginning of this year, many employees have repeatedly exposed the company on the Internet arrears of wages, suppliers, such as the news. Company funds appear serious problems, bo county is also helpless, since last year to buy production qualification of faw xiali, bo county cars have yet to begin production have been such a predicament, on June 28, Huang Ximing group within the company but also said, at present, no land plant to sell assets to solve the actual problem employees.

"Our car is thoroughly" BaoLei "at the end of June, as our car big shareholders of nantong golden harvest, pointing to the company chairman Charles wang from the United States, and will use its own funds solve the problem of employees' back pay, and Charles wang also through internal mail, guide golden harvest illegal occupation, lead to employees without pay unemployment, at present, the two sides are still fighting from a distance.

In addition, On June 30, Byton Motor announced that it would suspend operations in the mainland market for at least six months. As early as this March, green car has been "sold" Henan International Investment.

"These companies on the verge of extinction are generally those that lack the capacity for independent innovation and build cars solely on capital." On July 1, the famous economist Song Qinghui told the financial times, making cars is one of the traditional industries of technology, talent and scale effect, and have a penchant for decades or even hundreds of years of accumulation, compared to the traditional big car companies in our country some of the new forces of building cars still need to slowly accumulation and precipitation, which is why the building cars a lot of failure, the main reason for the success of little.

The collective collapse of the legal system

In addition to the new force to build cars, some traditional car companies are also suffering, law car first.

On April 14 this year, Dongfeng Group shares issued a notice that in view of the decline of the domestic auto market and dongfeng Renault's operating conditions, the company and Renault both plan to restructure Dongfeng Renault.

Renault group on the same day to time finance said that the new strategy is the trend of The Times. "Renault's electric car business is number one and number two in The European market. This is our strongest resource, so we want to focus this resource in China and make the most of it."

According to the announcement issued by the two sides, Renault intends to transfer its 50 per cent stake in Dongfeng Renault to Dongfeng, and Dongfeng Renault will cease its business activities related to the Renault brand.

Last year, its sales reached only 18,500 units, down 63.1% from a year earlier. According to the latest sales data, by May this year, Dongfeng Renault had sold only 1,373 units, down 81.44% from a year earlier.

In addition, The Dongfeng Peugeot Citroen car also can not stand alone. Dpca's sales in the first five months of this year were just 17,857 units, down 66.24 percent from a year earlier, according to Dongfeng auto sales data.

Domestic car system market share list, data from China Automobile Association, time financial and economic mapping

According to the China association of automobile manufacturers, according to data in the first five months of this year, passenger car production finished 5.955 million and 6.109 million respectively, fell by 29.1% and 27.4% respectively, compared to the car and law system's share has fallen to 0.3%, according to the above, the law only dismal car sales in May 18000, although the statistical caliber is not completely consistent, but the sales data and also close to dongfeng Renault, dongfeng-citroen automobile sales combined.

The successive retreat of the Law system and its own brand of paranoia has a great relationship, Cao He also said that the French car has been in the domestic development has presented a state of acclimation.

On July 2, a person in the industry told Time Finance that although Legal system cars are not as well known as German cars, they have their own personality and style in appearance and configuration. In addition, legal system cars are gradually weakened due to a variety of factors such as weak localization ability, niche positioning and joint venture management.

The elimination of the car market accelerated

China's auto industry is in recovery after a tumultuous first half of the year, with the China Association of Automobile Manufacturers this afternoon forecasting an 11 per cent year-on-year increase in June car sales. However, the industry is forecasting negative sales growth for the full year and the pressure on carmakers is still hanging over their heads.

According to the sales bulletin of key enterprises according to the statistics of China Association of Automobile Manufacturers, the sales volume of the automobile industry in June is expected to reach 2.28 million units, with a year-on-year growth of 4% and 11%. From January to June, the accumulative sales volume of the automobile industry is expected to reach 10.24 million units, down 17% year-on-year.

Lang Xuehong, deputy secretary general of the China Association of Automobile Dealers, predicted in an interview with Time Finance in June that the auto market would experience negative growth of more than 15 percent this year. The overall environment of the car market has not improved in quality, which is obviously not a positive signal for the weak car companies.

Part of the monthly sales of less than ten thousand car companies list, data from public information, The Times financial mapping

At least six carmakers, including Dongfeng Qichen, Guangzhou Auto Mitsubishi and Beijing Auto Blue Valley, failed to sell more than 10,000 vehicles in May, according to the latest publicly available sales figures.

Especially in the case of intensified elimination of the car market, the exit speculation of weak brands is also incessant. Dongfeng Yulon, which ranks the bottom in sales for a long time, was revealed to withdraw from the mainland market on June 17.

Dongfeng Yulon sold just 43 vehicles in the first five months of this year, according to the Passenger Association. However, on June 29, dongfeng Yulon related officials said in an interview, will not exit the mainland market, and said the future will continue to adjust the transformation.

On July 2, a former Natzhijie dealer also told The Times that, according to his understanding, Natzhijie will not quit at this stage, should follow the new development action out.

Mitsubishi motors was also reported to have pulled out of the domestic market in June, but GAC Mitsubishi was quick to deny the speculation and said it would continue with its existing partners in China.

For the accelerated elimination of the car market, Cao He told time finance and economics, survival of the fittest, this is the law of the market, but also can promote the automobile industry resources redistribution, technological progress; Song Qinghui said, this year many enterprises to the edge, which has a great impact on the industry structure, after the polarization will be more serious.