Recently, major automobile and parts enterprises around the world have published financial reports for the first half of 2020. Sales and profits have been greatly reduced, personnel and investment have been cut down, and many measures have been taken to save costs. ZF, the global component giant, is no exception. The company released its semi annual report on August 7. Although the market environment is not good and the demand is falling sharply, ZF does not care There are many highlights in the transformation of commercial vehicle market, or in the strategic promotion of commercial vehicle market in China.
Maintain R & D investment and be optimistic about China market
In the first half of the year, ZF's global sales revenue decreased by 27%, and the profit before interest and tax fell sharply from 648 million euro to 177 million euro. In terms of cost saving, through highly flexible capacity control, reduction of unnecessary costs, strict investment and expenditure control and liquidity management, the expenditure decreased by more than 1 billion euro. Although the sales decrease and the need to economize on food and clothing, shangchebang noted that ZF's R & D investment did not discount at all, only a slight decrease of 5%. In the first half of the year, ZF remained at a high level of 1.2 billion euro, and the proportion of R & D in total sales increased from 7.1% to 9.0%.
In terms of regional business, the Asia Pacific region, where the Chinese market is located, performed steadily. The sales volume of ZF in North America, South America, Europe and Africa decreased by 37%, 36% and 29% respectively, while the sales in the Asia Pacific region, which accounted for 25% of the global total sales, decreased by 5%. The sales volume in the first half of the year was 3.439 billion euro, which strongly supported the global market of ZF.
Wolf Henning Scheider, CEO of ZF, mentioned the Chinese market many times in his release. He believed that the Chinese market was the most potential market. With the global market in a cold situation, China's commercial vehicle market rose against the market due to policy factors such as phase III phase out, state-6 upgrading, axle charging, and high-speed free of charge during the epidemic period. As a global component giant that has been deeply rooted in the Chinese market for many years, ZF naturally shows its good performance, especially the auto transmission business which was just localized last year A.
From January to June 2020, Auman, the largest OEM customer of ZF Foton, has sold 12549 automatic transmission heavy trucks. The annual sales target of automatic transmission products has been increased from 15000 vehicles at the beginning of the year to 25000 vehicles. At the user level, Zhongtong express alone purchased more than 4000 heavy trucks matching ZF automatic transmission in 2020. ZF Chuansheng has made a good start since it was put into production in April last year, and it will face two challenges: first, whether its capacity can be expanded rapidly; second, it will be pursued by many challengers, such as fast, Jiefang, sinotruk and Dongfeng Longqing, which are the representatives of domestic brands with cost performance, and Eton Cummins, the North American sales champion.
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ZF forecasts that the global sales of commercial vehicles with more than 6 tons in 2020 will significantly decrease to 2.75 million from 3.56 million in the previous year, and return to the 3 million vehicle mark from 2021. According to the data of China Automobile Industry Association, from January to July 2020, the sales volume of heavy trucks in the Chinese market has reached 960200 units, a year-on-year increase of 90%. China's market continues to expand in the global commercial vehicle market. Not only the sales of gearbox, one of the three major components of vehicles, have soared. ZF also has a number of commercial vehicle businesses in China It is considered to be the driving force in the field of automatic driving, electrification and digitization in the future. The performance of the Department has been consolidated with the financial statements of ZF for one month, with a market sales of 188 million euro. (shangchebang previously reported: ZF's acquisition of WABCO, a signal of industry change)
After the merger of ZF and WABCO, the product portfolio will be more perfect, including transmission drive system and electric drive system, chassis parts, sensor components, and integrated advanced braking, steering and driver assistance systems to help OEMs realize technical differentiation in new vehicle platforms. In addition, ZF can provide digital fleet management solutions, as well as a comprehensive global commercial vehicle after-sales service network. "The new business unit has received new orders for driving assistance and automatic driving from the main engine plant," CEO wofhanning said in a telephone call