9月27日晚，广汽菲克管理人发布消息称，为尽快完成广汽菲克公司核心资产处置，实现债权人债权受 偿分配，管理人拟决定将广汽菲克公司核心资产由打包整体处置调整为两个资产包进行公开挂网处置， 土地、建筑物起拍价拟定为6亿元左右，生产设备等起拍价拟定为2亿元左右。 今年7月8日，广汽菲克管理人发布消息称，因广汽菲克公司已无重整可能，根据部分债权人意见，经债 权人委员会讨论，管理人已经申请长沙中院裁定宣告广汽菲克公司破产。经管理人审查并提交债权人会 议进行核查后认定债权总额约为81.23亿元，其中经法院裁定确认的无异议债权总额为40.44亿元。 广汽菲克称，至今为止，售后服务已产生的所有费用均由售后服务机构垫资投入。另外，管理人将广汽 菲克公司、广汽菲克销售公司部分剩余零配件等物资（清算价值约1587万元）已移交售后服务机构开展 售后服务工作。关于售后服务机构已经产生和未来产生的售后服务费用，售后服务机构核算和测算为 2.7亿余元。 转型滞后导致缺乏有竞争力车型 广汽菲克的前身广汽菲亚特成立于2010年3月，是广汽集团与菲亚特克莱斯勒（后合并为Stellantis集 团）以50:50的股比成立，总部设在长沙，总投资17 ...

2025.09. 28 本文字数：1361，阅读时长大约2分钟 作者 | 第一财经 黄琳 历经5次流拍后，广汽菲克长沙工厂即将迎来第六次拍卖。9月27日晚间，广汽菲克管理人发布公司 破产清算案资产处置方案重要通报。关键信息围绕两点：核心资产处置和汽车售后服务。 根据上述通报信息，广汽菲克公司核心资产将从打包整体处置，调整为两个资产包进行公开挂网处 置，一个资产包主要为土地、建筑物（起拍价拟定为6亿元左右）；另一个资产包主要为生产设备等 （起拍价拟定为2亿元左右），因资产界限需确定，具体以公开挂网公告为准。两个资产包起拍价总 价不低于前期整体资产拍卖第五次流拍价的80%。 今年7月8日，广汽菲克管理人发布消息，根据广汽菲克的负债情况、审计报告、资产评估报告及管 理人对广汽菲克资产清查的结果，广汽菲克不能清偿到期债务且资产不足以清偿全部债务，也不具备 重整、和解条件，由长沙市中级人民法院宣告广汽菲克破产。 广汽菲克于2010年由广汽集团和Stellantis集团以50：50的股比合资成立，总投资约170亿元，总部 设立于湖南长沙，并在广州、长沙建设起工厂，整车年设计产能超30万辆，旗下推出的Jeep品牌三 款国产 ...

至今为止，广汽菲克售后服务已产生的所有费用均由售后服务机构垫资投入。另外，管理人将广汽菲克 公司、广汽菲克销售公司部分剩余零配件等物资（清算价值约1587万元）已移交售后服务机构开展售后 服务工作。 但是，因售后服务机构已实际承担售后服务工作两年多时间，其多次向广汽菲克管理人、长沙中院就售 后服务合作关系提出明确诉求，且广汽菲克公司破产清算案处于生产资质注销等工作环节，需尽快就售 后服务事项作出落地安排清退产能。 关于售后服务机构已经产生和未来产生的售后服务费用，售后服务机构核算和测算为2.7亿余元。因在 售后服务机构运营费用的划分、售后服务风险费用、未来实际费用预测等方面难以进行精准专业核算和 预测，结合广汽菲克公司、广汽菲克销售公司破产受理前就正常经营状态下部分售后服务费用财务预提 测算情况（约9500余万元），结合售后服务机构关联公司欠付广汽菲克销售公司往来款项情况（存在核 算争议，审计机构及管理人核算金额约为0.88亿元-1.12亿元），广汽菲克管理人拟计划以上述部分剩余 零配件清算价值及广汽菲克销售公司应收售后服务机构关联公司的往来款项冲抵售后服务机构售后服务 费用。 广汽菲克公司、广汽菲克销售公司 ...

Core Viewpoint - The bankruptcy of GAC Fiat Chrysler (广汽菲克) symbolizes the decline of joint venture car companies in China, highlighting the challenges they face against the rise of domestic brands and the need for transformation in the automotive industry [4][9][38]. Group 1: Company Overview - GAC Fiat Chrysler, known for its Jeep brand, was once a leading player in the SUV market, achieving peak sales of 222,000 units in 2017 [6][19]. - The company has now declared bankruptcy, with assets of 3.894 billion yuan and debts of 8.123 billion yuan, leading to a liquidation value of only 1.915 billion yuan [5][34]. Group 2: Sales Decline - Sales dramatically declined from 222,000 units in 2017 to less than 2,000 units in 2022, marking a steep drop in market presence [7][24]. - The decline began with a product quality crisis in 2018, which saw sales plummet to 125,000 units, followed by further decreases in subsequent years [24][25]. Group 3: Internal and External Challenges - Internal issues, such as delayed responses to product quality problems and mismanagement of brand positioning, contributed to the company's downfall [21][28]. - The failure to adapt to the electric vehicle market and the lack of significant new energy models over the past decade further exacerbated the situation [30][31]. Group 4: Industry Context - The bankruptcy of GAC Fiat Chrysler reflects a broader trend of joint venture car companies struggling to compete with rapidly growing domestic brands in China [9][43]. - The market share of mainstream joint ventures is projected to decline from 51.1% in 2020 to 27.5% by 2024, indicating a significant shift in the automotive landscape [43]. Group 5: Future Outlook - The decline of GAC Fiat Chrysler is not an isolated incident but part of a larger pattern affecting joint venture car companies, many of which are seeking partnerships with domestic firms to survive [45][46]. - The automotive industry is witnessing a transformation, with joint ventures needing to innovate and adapt to remain relevant in a competitive market [38][42].

Core Viewpoint - The official announcement of the bankruptcy of GAC Fiat Chrysler (广汽菲克) marks the end of the only joint venture for the Jeep brand in China, reflecting the challenges faced by joint venture car manufacturers amid industry transformation [1][3]. Group 1: Company Overview - GAC Fiat Chrysler was established in 2010, initially underperforming until the Jeep brand was introduced in 2015, capitalizing on the booming SUV market in China [8]. - The peak sales were reached in 2017 with over 222,000 units sold, driven by a strong product strategy that included models like the Cherokee and Renegade [7][8]. Group 2: Decline Factors - The turning point for GAC Fiat Chrysler occurred in 2018 when quality issues, particularly the "burning oil" problem, were exposed, leading to a significant drop in sales to 125,200 units [9][10]. - From 2019 to 2022, sales continued to decline sharply, with figures dropping to 73,900 units, 40,500 units, 20,100 units, and just 1,862 units respectively [10]. Group 3: Internal Challenges - Internal conflicts between Stellantis and GAC led to management instability, with key leadership changes exacerbating operational issues [12]. - The company's failure to adapt to the electric and intelligent vehicle trends resulted in missed opportunities, as 90% of R&D resources were allocated to traditional fuel vehicles [13][14]. Group 4: Industry Context - The bankruptcy of GAC Fiat Chrysler symbolizes a broader shift in the automotive industry, where traditional fuel vehicle dominance is waning as domestic brands capture over 70% of the market share [14]. - The transition to electric and intelligent vehicles is reshaping competitive dynamics, with foreign brands needing to innovate and adapt to survive [15].

Core Viewpoint - The announcement of the bankruptcy of GAC Fiat Chrysler (广汽菲克) marks the end of the domestic Jeep era in China, leading to the discontinuation of models such as the Commander, Compass, and Cherokee, reflecting the decline of joint venture car manufacturers in the face of rising domestic brands and new energy vehicle makers [1][2]. Group 1: Historical Context of Jeep in China - Jeep entered the Chinese market in 1983 through a partnership with Beijing Automotive Manufacturing Factory, initially producing the Cherokee and some Mitsubishi models [5]. - In 2010, GAC Group and Stellantis (formerly Fiat Chrysler) established a joint venture, GAC Fiat, with a total investment of approximately 17 billion yuan, leading to the localization of Jeep models [5]. - Jeep's peak sales in China occurred in 2017, with a record of 222,000 units sold, marking it as a dominant player in the SUV market [2][5]. Group 2: Decline of GAC Fiat Chrysler - Starting in 2018, Jeep faced significant challenges, including quality issues such as excessive oil consumption, leading to a decline in consumer trust and sales [8][10]. - Sales plummeted from 125,200 units in 2018 to just 2,010 units in 2021, making GAC Fiat the car manufacturer with the largest sales decline within GAC Group [10]. - By 2022, GAC Fiat's net assets had dropped to -331 million yuan, indicating insolvency, and despite attempts to secure additional funding, the financial situation remained dire [10][11]. Group 3: Broader Implications for Joint Venture Car Manufacturers - The fate of GAC Fiat Chrysler reflects the broader struggles of joint venture car manufacturers in China, as they face increasing competition from domestic electric vehicle brands [14][16]. - The market share of mainstream joint venture brands in China fell below 50% for the first time in 2023, while domestic new energy vehicle market share surged from 16% to 56% [16]. - The transition from traditional fuel vehicles to electric vehicles signifies a major shift in the automotive landscape, with GAC Fiat's assets being repurposed for electric vehicle production [17].

Core Viewpoint - The article discusses the demise of the domestic Jeep brand in China, highlighting the bankruptcy of GAC Fiat Chrysler (广汽菲克) and the end of an era for the once-popular SUV brand in the Chinese market [4][20]. Company Overview - GAC Fiat Chrysler announced its bankruptcy due to the lack of restructuring possibilities, marking the end of domestic Jeep models such as the Commander, Compass, and Cherokee [4][5]. - Jeep's peak sales in China reached 222,000 units in 2017, making it a dominant player in the SUV market [6][10]. Historical Context - Jeep was established during World War II, originally serving military purposes before transitioning to civilian vehicles post-war [8]. - The brand entered the Chinese market in 1983 through a partnership with Beijing Automotive Manufacturing Factory, later forming a joint venture with GAC in 2010 [10][21]. Sales Performance - Jeep's sales in China saw a dramatic decline from 2018 onwards, with figures dropping from 125,200 units in 2018 to just 1,800 units in the first half of 2022 [16][18]. - The company faced significant quality issues, including oil consumption problems, which led to a loss of consumer trust and increased inventory levels among dealers [14][16]. Financial Struggles - By 2020, GAC Fiat Chrysler's net assets fell to -331 million yuan, indicating insolvency, and by 2021, net assets were around 200,000 yuan [16][18]. - Despite attempts to secure additional funding from shareholders, the financial situation remained dire, with total assets of 7.322 billion yuan and total liabilities of 8.113 billion yuan by September 2022 [17]. Industry Trends - The decline of GAC Fiat Chrysler reflects broader challenges faced by joint venture car manufacturers in China, as domestic electric vehicle brands gain market share [22][24]. - The market share of mainstream joint venture brands in China fell below 50% for the first time, while domestic electric vehicle brands surged from 16% to 56% [24][25]. Conclusion - The bankruptcy of GAC Fiat Chrysler signifies the end of an era for the Jeep brand in China, as the automotive landscape shifts towards electric vehicles and domestic manufacturers [19][25].

Core Viewpoint - GAC Fiat Chrysler (GAC Fick) has officially declared bankruptcy after two years of restructuring attempts and five failed auctions, raising concerns about after-sales service for approximately 770,000 car owners in China [2][6][8]. Group 1: Bankruptcy Announcement - On July 8, GAC Fick's administrator announced the bankruptcy application to Changsha Intermediate People's Court due to the company's inability to restructure and fulfill after-sales obligations [2][6]. - Stellantis (Shanghai) Automotive Co., Ltd. has committed to providing continued after-sales service for GAC Fick's past sales despite the challenges of parts shortages [2][3]. Group 2: After-Sales Service Challenges - The administrator has been working with after-sales service institutions to address the urgent needs of GAC Fick's car owners, with a cooperation draft nearly finalized for creditor committee approval [3][6]. - The management has transferred available resources, including test vehicles and remaining parts, to support after-sales service operations [6][7]. Group 3: Financial Performance and Decline - GAC Fick, established in March 2010, saw its peak sales in 2017 with 222,300 vehicles sold, but experienced a continuous decline in sales from 2018 to 2022, ultimately ceasing operations [8][9]. - The company's net assets fell from a peak of 4.422 billion yuan in 2017 to -331 million yuan in 2020, with cumulative losses nearing 5 billion yuan over three years [9][11]. - As of September 30, 2022, GAC Fick's total assets were 7.322 billion yuan, total liabilities were 8.113 billion yuan, resulting in a debt-to-asset ratio of 110.80% [11]. Group 4: Auction Attempts and Asset Status - GAC Fick's core assets, including land and production equipment, have been publicly auctioned five times without any bids, prompting the administrator to seek potential buyers through local government channels [11].

Core Points - GAC Fiat Chrysler (GAC Fick) has officially declared bankruptcy after more than two years of restructuring attempts and five failed auctions [1][10] - The company has approximately 770,000 car owners in China, raising concerns about who will handle their after-sales service [2][6] - Stellantis (Shanghai) has committed to providing continued after-sales service for GAC Fick's past sales despite parts shortages [2][6] Group 1 - GAC Fick's bankruptcy was prompted by its inability to restructure and the unanimous decision of creditors [1] - The company produced over 770,000 vehicles, but after ceasing operations, parts shortages have hindered after-sales service [6][9] - Stellantis has initiated discussions with after-sales service providers to address the service needs of GAC Fick's customers [3][6] Group 2 - GAC Fick was established in March 2010 as a joint venture between Fiat Group and GAC Group, later becoming part of Stellantis after the merger with PSA Group [8][10] - The company experienced a peak sales volume of 222,300 units in 2017, but sales declined significantly in subsequent years, leading to operational suspension by 2022 [9][10] - As of September 30, 2022, GAC Fick had total assets of 7.322 billion and total liabilities of 8.113 billion, resulting in a debt-to-asset ratio of 110.80% [10]

Core Viewpoint - GAC Fiat Chrysler's bankruptcy marks the end of a once-promising joint venture, highlighting the challenges faced by foreign brands in the Chinese automotive market amid shifting consumer preferences and strategic missteps [2][8]. Company Overview - GAC Fiat Chrysler (GAC FCA) was established in March 2010 as a 50:50 joint venture between GAC Group and Fiat Chrysler (now Stellantis), with a total investment of 17 billion yuan, aiming to create a world-class automotive enterprise [3]. - The company initially thrived, achieving sales of nearly 180,000 units in 2016, a 260% year-on-year increase, and further growing to over 220,000 units in 2017 [3][4]. Market Performance - GAC FCA capitalized on the rapid expansion of the Chinese SUV market, which was growing at an annual rate of 40%, leveraging Jeep's brand strength to differentiate itself [4]. - However, by 2022, sales plummeted to just 1,861 units, reflecting a dramatic decline from its peak [2][4]. Strategic Missteps - The company faced a quality crisis in 2018, leading to a 43.6% drop in sales, which was exacerbated by a misalignment of product positioning as it shifted focus to the family SUV market, diluting Jeep's core off-road identity [4][5]. - The decision to abandon the sedan market in favor of the Jeep brand left GAC FCA vulnerable, as it lacked a diversified product portfolio to mitigate risks [7]. Financial Decline - By September 2022, GAC FCA's total liabilities reached 8.113 billion yuan, with a debt-to-asset ratio soaring to 110.8%, leading to its eventual bankruptcy [8]. - The failure of the joint venture is seen as a reflection of the inadequacies of the traditional "market for technology" model in the face of industry transformation towards electrification and smart technology [8]. Industry Implications - The collapse of GAC FCA underscores the need for clear brand differentiation and strategic alignment between joint venture partners, particularly in a rapidly evolving market [8]. - Despite GAC FCA's demise, the Jeep brand continues to exist in China through import channels, while GAC Group may pivot towards strengthening its own brands, as evidenced by the success of GAC Trumpchi and GAC Aion in the new energy vehicle sector [9].