Dongfeng Motor Corporation

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Dongfeng Motor Corporation
legal form Centrally managed company
ISIN CNE100000312
founding September 1969
Seat Wuhan , People's Republic of China
management Xu Ping
(Chief Executive Officer)
(as of Oct. 2010)
Number of employees 146.843
sales 125 billion RMB ( € 15.29 billion )
Branch Automotive industry
Website www.dfmc.com.cn
As of December 31, 2017

Dongfeng truck
Omnibus from Dongfeng
Dongfeng military vehicle
Dongfeng Yu'an Xiaokang EQ 5021 Cargo
Dongfeng Fengxing Joyear S50

The Dongfeng Motor Corporation is a Chinese group in the truck, bus and passenger car construction, as well as in the development and manufacture of engines and vehicle components.

The seat of today's corporate headquarters is in Wuhan . The name Dongfeng means east wind .

Corporate development

The company was founded in Shiyan, Hubei Province in September 1969 under the name Second Automotive Works (in German: Automobile Works Number Two). Preparations for this began in April 1967 while the socialist planned economy was still in place . The company was also created in part by outsourcing departments of the China FAW Group .

The production results of Second Automotive Works (SAW) were mediocre in the 1970s, although the production facilities were among the more efficient in the country. In April 1981, Second Automotive Works merged with eight other relatively young companies to form the Dongfeng Joint Automobile Industrial Company , which was renamed the Dongfeng Motor Corporation in 1992 . Despite numerous problems with the bureaucratic apparatus of the Hubei provincial government and a central government agency called China Automobile Industry General Corporation imposed in May 1982, Dongfeng management managed to triple the company's EBT between 1981 and 1986 . The China Automobile Industry General Corporation withheld five percent of the company's profits, was also allowed to collect ten percent of the company's impairment fund and withhold a smaller management fee from the EBT generated. The latter in particular caused displeasure among the management of Dongfeng. In addition, the higher-level management authority tried to stipulate the production output according to the development plan. Its sizes were based on targets that were officially passed down the hierarchy by the State Planning Commission . In addition, the attempted China Automobile Industry General Corporation , the company's management at Dongfeng with selected by the authority party secretaries to fill. There was considerable resistance from the leadership of Dongfeng, so in 1987 they teamed up with the China FAW Group to petition the central government in Beijing calling for the China Automobile Industry General Corporation to be abolished . In the end, the two rebellious company managements were able to prevail.

After the cautious economic opening of the People's Republic of China by Deng Xiaoping in the early 1980s, China experienced a wave of joint ventures between Chinese manufacturers and Western and Japanese car companies in the vehicle industry. As a result, the models manufactured using new production processes and equipped with a higher proportion of foreign components were of higher quality. The new models achieved a higher market share in China at the expense of less innovative companies. This led to a corresponding drop in sales there in the mid-1990s, including at Dongfeng. On the other hand, this short-term development was offset by a sustainable trend: the further integration of market economy elements into the economic development process in the 1990s and the rising standard of living of certain sections of the population increased automobile sales in the country. In addition, the Chinese engineers have understood how to independently incorporate the technologies and methods originally coming from abroad into their own vehicle designs, so that the innovation deficits at many Chinese manufacturers were quickly overcome.

In 2000, the Dongfeng Motor Corporation had to reschedule . In this context, the Dongfeng Motor Corporation on May 18, 2001 was temporarily converted into a subsidiary ("incorporated"). In 2004, Dongfeng was transformed into a stock corporation , after all capital shares had previously been bought back from non-company shareholders. For the IPO , H shares were offered for purchase from December 6, 2005 . This type of stock is listed on the Hong Kong Stock Exchange and is also accessible to foreign investors . At the end of the IPO on December 13, 2005, the share was several times oversubscribed. With the IPO, Dongfeng opened up a share capital of 8.61612 billion yuan (the equivalent of about 960.7 million euros).

The Dongfeng Group also produces passenger cars.

In 2005 the government strengthened the purely Chinese automakers against the companies with foreign participation. So were the vehicle manufacturer with a Gewinnabschöpfung busy when the number or the cost amount has exceeded a certain value at foreign aftermarket parts. In this way, the joint venture vehicle manufacturers were forced to increasingly buy from Chinese automotive suppliers . A complaint to the WTO in 2006 was unsuccessful, which is partly due to the fact that the plaintiff could not agree on a common negotiating line.

In June 2006, Dongfeng moved its headquarters from Shiyan to Wuhan.

Despite the lack of statistical material, Dongfeng appears to have been the largest truck manufacturer in the world in 2010, with a focus on medium-sized and large trucks over six tons of payload. A market analysis by Global Insights from November 2010 "year-to-date" (observation period December 2009 up to and including November 2010) gives indications of this . In addition, in 2010 Dongfeng was the second largest passenger car manufacturer in the People's Republic of China in the mid -range and small car segment and, with the help of the Dongfeng-Nissan joint venture, the eighth largest passenger car manufacturer in China in the luxury car segment.

Joint ventures and external production

The company works with various other international automobile manufacturers in joint ventures and investments .

On September 19, 2002, Dongfeng Motor Corporation and Nissan entered into a mutual and comprehensive partnership agreement that will be continuously incorporated into a joint venture called the Dongfeng Motor Company . Although an equal share distribution has been agreed, the name Nissan does not appear in the company name of the joint venture. As a result, Dongfeng Motor Corporation and Dongfeng Motor Company are two different companies.

Other joint ventures are:

In October 2004, Dongfeng Motor acquired the majority of shares in the Zhengzhou Nissan Automobile Company and has had its own brand models produced there since then.

Dongfeng trucks were manufactured by the Uruguayan Nordex SA (2000s) and the Vietnamese manufacturer Xuan Kiên Auto (with the brand name Vinaxuki , between 2012 and 2015) without a joint venture having been formed in either of these cases.

Own brands

See also

Web links

Commons : Dongfeng Motor Corporation  - Collection of Images, Videos and Audio Files

Individual evidence

  1. ↑ a b Annual Report of the Dongfeng Motor Group (accessed August 15, 2020)
  2. ↑ a b Company profile ( Memento from July 7, 2011 in the Internet Archive ) Internet portal of the Dongfeng Motor Group (in English)
  3. ↑ Kate Hannan: Industrial Change in China: economic restructuring and conflicting interests. Routledge, London 1998, ISBN 0-415-16246-7 , p. 24 (in English)
  4. ↑ Economist Intelligence Unit (Red.): World cars: Key player - Dongfeng The Economist, "Industry Briefing" section, March 3, 2009 (in English)
  5. ↑ Kate Hannan: Industrial Change in China: economic restructuring and conflicting interests. Routledge, London 1998, ISBN 0-415-16246-7 , p. 25 (in English)
  6. ↑ Development course: the development of Dongfeng had experienced 4 stages ( Memento from November 9, 2018 in the Internet Archive ) Subpage of the Internet portal of Dongfeng Motor Corporation (in English)
  7. ↑ Yu Qiao: Dongfeng Motor Co relocates HQ to Wuhan China Daily, June 22, 2006 (in English)
  8. ↑ Apar Bansal: Global CV Rankings (Source: Global Insights) www.team-bhp.com Internet portal, December 24, 2010 (in English)
  9. ^ Bertel Schmitt: China Car Market 101: Who Makes All Those 18 Million Cars? TheTruthAboutCars web portal, January 19, 2011 (in English)
  10. ↑ Vinaxuki, le naufrage de l'automobile vietnamienne. In: site-vietnam.fr. January 21, 2015, accessed on September 28, 2018 (French).