Li Dakai, Chairman and General Manager of Shaanxi Fast Automotive Transmission Group Co., Ltd. told reporters in an interview recently that in the face of the financial crisis, Fast has been affected and has begun to respond. “The next year will be the most difficult one. In the past year, we have prepared ourselves in all aspects."
“China’s reform and opening up and accession to the WTO have brought Chinese products to the world. This has also brought an unavoidable reality that exports will inevitably be affected under the dual pressures of the financial crisis and the appreciation of the renminbi.†Li Dakai said that he himself The impact of the crisis is not evasive. “We are facing this fact, and Fast is also among them. Sales in the first quarter of next year are likely to decline.â€
In the first 11 months of 2008, Fast Group has accumulated sales revenue of 6.441 billion yuan, an increase of 18.40% year-on-year; cumulative production and sales of 460,370 heavy-duty transmissions, an increase of 18.91%, the growth rate continues to maintain industry leading edge. However, compared with previous years, the export quota was 40 million U.S. dollars last year and 30 million U.S. dollars this year, a year-on-year decrease of about 25%.
Li Dakai said: “The policy of expanding domestic demand in the country is wise and it is a good news for the automotive industry.†The country’s investment of 400 billion yuan gave Li Dakai a lot of confidence: “The state has established a number of large projects such as high speeds. Highways, high-speed railways, airport construction, etc... The construction of these projects is inseparable from heavy trucks, and heavy-duty truck parts are Fast's strengths."
In the face of the financial crisis, Li Dakai was full of confidence in Fast's development: “We have a good financial situation and there is no break in the capital chain.†Li Dakai made it clear that the company has not yet considered layoffs, but it will save. Expenditures on expenditures and cutting resources to reduce expenditures, such as avoiding peaks in the production of electricity, etc. "Through various measures of the country, we believe that it will gradually stabilize after the second quarter of next year. In the second half of the year, there may be more obvious results." But how much impact the financial crisis has on the Chinese auto industry, we must wait and see change. â€
"Products are the most important," said Li Dakai. In the development plan for Fast next year, a series of market-oriented product structure adjustments have been put on the agenda, and next year it intends to invest 7% of total sales for R&D. In addition, it is imperative to transform the production line to improve product quality and strengthen employee quality training. “I think the financial crisis is also a rare opportunity for Fast. Now is the best time for rejuvenation and rejuvenation. The ultimate goal of Fast is to transform from a manufacturing-oriented enterprise to an R&D-based and innovative enterprise.â€
View related topics: Fast: Heavy-duty transmission production and sales in the world
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