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In recent years, problems such as continuous price increases of raw materials, soaring labor costs, and continuous price reductions by OEMs have exploded, making many small and medium-sized motor companies almost helpless. In the next 1-2 years, the motor market may usher in a "large-scale cleaning ebb."
It is understood that since 2023, the melee in the new energy vehicle motor market has escalated, and the gross profit has dropped sharply. At the same time, the concentration of the industry has increased significantly, high-quality resources will further move closer to leading enterprises, and the market share of small and medium-sized enterprises will be further squeezed.
In this process, a large number of enterprises will inevitably "die", and the first victims may be a group of small enterprises. To this end, many SMEs are fighting for their own survival.
Although the epidemic has been overcome for three years, Mr. Zhou, the relevant person in charge of a motor company, said frankly, "Last year, the company already felt the pressure. I didn't expect that this year, the OEM would ask for a price cut again, and the payment for the goods has been delayed, and the manufacturing cost of the motor has been falling all the way." Gao Gao, life is really getting more and more difficult, maybe one day I really can't do it anymore."
"Orders are the lifeblood of a company, but with the adjustment of subsidy policies and the raising of technical thresholds, it will be even more difficult for small and medium-sized motor companies to get orders. " The requirements on parameters, costs, and production capacity have become more stringent.It is true that many small and medium-sized enterprises do not have an advantage in terms of production capacity and comprehensive strength in technology compared with large-scale motor companies that have been operating for many years. "In order to avoid 'no rice for the pot', many small and medium-sized motor companies do not hesitate to lower the price of their products to snatch orders."Despite winning the order, small and medium-sized enterprises like Mr. Zhou are still facing difficulties such as high costs, difficult quality assurance, and huge capital investment.On the one hand, since last year, the cost of raw materials used in motors has risen sharply. In addition, many core components are imported. With the rise of import tariffs, the comprehensive procurement cost of producing a motor has increased by about 20%."Taking an 80kW motor as an example, the price is about 5,000 yuan, and the cost of materials alone will cost at least 3,500 yuan." Mr. Zhou clearly knows that large-scale production is necessary to obtain profits, but the current new The size of energy vehicles is still small, coupled with rising labor costs, once made him at a loss.On the other hand, cost and quality are mutually related to a certain extent. Mr. Zhou said bluntly, "When the price is low, the quality is sometimes difficult to guarantee. If there is a problem with product design or improper use by workers, there will be mistakes."In addition, according to Gaogong Electric Vehicle Network, most of the motor products are currently customized according to the parameters of different models, and the production lines, molds and other equipment used will also be different. This means that once the technical parameters of the product are adjusted, the production line must also be adjusted accordingly."Generally speaking, motor factories invest in the construction of production lines according to the plans of car factories. The investment in a production line can be calculated in millions or even tens of millions." Mr. Zhou added, "Once the order is placed, it means that we also need a sum of money. A huge investment of money."Overall, compared with large motor companies, small motor factories are at a disadvantage in the battle for orders. Although it can win the order, it also faces difficulties such as huge capital investment, high raw material costs and labor costs."Lack of money" has always been considered the number one enemy of the development of small and medium-sized enterprises. For a small and medium-sized enterprise like Mr. Zhou, R&D and equipment investment require a large amount of capital, while maintaining daily production also requires capital turnover. But he believes that the most difficult thing at present is not "fundraising", but how to deal with the increasingly tight cash flow.Mr. Zhou introduced that in the past two years, the subsidy has continued to decline, and the fund repayment period has been lengthened, but the purchase of raw materials requires a large amount of capital turnover, especially in the case of many motor raw materials "increasing prices + out of stock" this year. Raw materials also need spot cash.It is understood that the payment mode adopted by most motor enterprises is "loan sales", that is, the customer pays part of the first payment first, and then pays in installments after the delivery is checked and accepted. As a result, enterprises are faced with the problem of long repayment cycle and difficulty in repayment."Difficulties in repayment will directly lead to pressure on the company's cash flow. In the long run, it may face the danger of breaking the capital chain." Mr. Zhou added, "Large companies have rich business chains, strong funds, and have a certain ability to withstand pressure, but small and medium-sized enterprises are difficult. bear."In fact, according to Gaogong Electric Vehicle Network, affected by the volume of new energy vehicles, the continuous price increase of motor raw materials and the continuous decline in gross profit, many domestic motor companies are still facing profitability problems. Among them, the net profits of companies including Shanghai Electric Drive, Shanghai Dajun, Shenzhen Dadihe, etc. have continuously suffered losses.These motor companies that are listed companies or rely on listed companies have capital strength, but for small motor companies, tight capital flow and losses are fatal blows.It is understood that at present, most of my country's motor enterprises continue to use traditional manufacturing techniques, and their production equipment is relatively backward. As foreign manufacturers began to enter the Chinese market, in order to compete with international manufacturers, many large domestic motor factories began to transform. However, judging from the current projects and funds, the conditions for the transformation and expansion of small and medium-sized enterprises are not perfect.A person from a first-tier motor company revealed, “In recent years, we have invested more than 500 million yuan in new energy vehicle motor research and development, equipment, etc., and small motor companies may not be able to bear it.”Obviously, transformation and expansion require huge capital investment. But without transformation and expansion, it is impossible to meet the latest requirements of OEMs. It can be said that at present, the overall living environment of small and medium-sized motor enterprises is deteriorating, and there is a dilemma."In the past two years, the new energy automobile industry has developed rapidly. Many companies have tasted the sweetness brought by it and want to expand production capacity." But if it is adjusted, the model will stop selling, and in the end, even the cost of molds, research and development, etc. will not be recovered!"It is undeniable that a series of problems such as continuous demand for price cuts by OEMs, prolonged payment period, and rising manufacturing costs are weighing heavily on small and medium-sized motor companies. In this context, industry insiders said that in the next 1-2 years, motor companies will be eliminated one after another.
XINDA