Core Points - GAC Fiat Chrysler (广汽菲克) has declared bankruptcy due to its inability to repay debts and insufficient assets to cover liabilities [1][4] - The company had been approved to file for bankruptcy as early as October 2022, with its Guangzhou factory taken over by GAC Aion for electric vehicle production [4] - The Changsha factory has undergone five failed auction attempts, with the starting price dropping from 19.15 billion yuan to approximately 9.92 billion yuan, nearly a 50% reduction [4] Company Background - GAC Fiat Chrysler, established in 2010, was known for brands like Fiat, Chrysler, and Jeep, and was renamed in 2015 after Fiat acquired Chrysler [8] - Jeep was introduced to the Chinese market in 2007, gaining popularity with models like the Grand Cherokee and Commander, leading to a peak sales year in 2017 with over 200,000 units sold [9] - However, Jeep's sales declined significantly from 2018 onwards, with annual sales dropping from 125,000 units in 2018 to just 2,040 units in 2021, resulting in a net asset of only 200,000 yuan by that year [9]