"Chairman, Mr. Ralph asked me to inform you that Tong Yu Motors' Chairman had contacted us. He wants to speak to you about the sale of their assets."
Ralph and Masao Kameda are in Europe now, and Feng Yu is in the US. Feng Yu will be the one making the decisions.
Furthermore, this sale does not belong to Wind and Rain Holdings. It belongs to Taihua Holdings, and their automobile business will be merged into Bing City Machinery Manufacturing Group.
Feng Yu had approached Tong Yu Motors and Ford Motor Company at the same time to let both companies know about the talks. From then on, they bought many high-quality assets at high prices.
The ones who spent the money are Hua Xia's assets, including Jie Bao, which Bing City Machinery Manufacturing Group bought. Feng Yu's funds are in the financial market at that time.
At that time, Tong Yu Motors still has some high-quality assets that Feng Yu is interested in, like the Australian and North American brands, technologies, sales channels, etc. But Tong Yu refuses to sell them.
Last year, Tong Yu Motors suffered losses of tens of billions of USD, and the losses are still increasing this year. There are still some undisclosed losses.
When Ford Motor sold most of its foreign assets, it was laughed at by its peers. They thought that Ford had cut off all of its foreign expansion plans and that it had lost more than it gained.
But now, Ford Motor had started to break even and is expected to be profitable by the end of this year. Although they only managed to protect their North American market and had lost most of their efforts in the European market, Europe is still their home base, and they have sufficient funds to expand their car rental business.
Tong Yu Motors' mortgage company had bought back many of their cars, but they can only sell them as second-hand cars at low prices.
But Ford Motor Company is different. They have their own car rental business in North America and Europe. They are the world's largest car rental company.
As for Chrysler, although it was bought back by a US consortium, it started to suffer losses after it was bought back. Until now, Chrysler is still suffering losses.
It was only because they were a consortium formed by many rich people that they could come up with a lot of money to ensure that Chrysler would not be as miserable as using a car.
However, when Kelesler saw that Universal Motors had already applied to the government for bankruptcy protection, he also put forward a condition for the government to provide assistance funds.
It was better to use the government's money to save the company than to use their own money. If they couldn't save the situation this time, they wouldn't have to lose everything.
But the cost of using cars is too big. The funds used to save the bankrupt companies are not enough. When George W. Bush was in office, there was such a big crisis, but George W. Bush left office safely. At this time, he was giving speeches all over the United States to earn money.
On the other hand, his successor, Obama, was a tragedy. He was in so much trouble as soon as he took office.
The support funds that George W. Bush came up with were not enough. As a last resort, the US government issued a lot of bonds and raised a lot of money.
The US government had also learned from the Europeans. They had turned some of the most important companies into state-owned companies or even wholly owned by the state.
When it comes to sharing cars, Obama hesitated. This will require too much money. The government does not have so much money, and the debt is so high. They still need to continue investing.
During the bankruptcy protection period, they had to quickly restructure the company's assets and strip off some non-performing assets to ensure the company's competitiveness so that the company could repay its debts through profits.
At this time, the government also gave orders to the automobile companies. You all have to think of a solution and learn from Ford. Sell some of your assets and get some cash to save yourselves.
But the global automobile market is declining. Daimler, BMW, Toyota, Dezhong, Honda, Hyundai, etc. are all losing money. Suddenly, they realized a few automobile manufacturers' sales did not decline and are still growing. Their profits had also increased. These few automobile manufacturers are Hua Xia's automobile manufacturers.
Among Hua Xia's automobile manufacturers, Bing City Machinery Manufacturing Group is the most powerful. This is one of the top automobile manufacturers in the world.
Other automobile manufacturers, such as Shanghai Motors, FAW, Guangzhou Motors, Beijing Motors, etc., are also growing rapidly. Of course, this is because Hua Xia had set the automobile industry as one of their pillars.
Tongyong Motors contacted Shanghai Motors first. They had cooperated in the past, and their Shanghai joint venture car factory shares were sold to Shanghai Motors.
But SAIC Motors refused directly. They had just bought the shares of a joint venture automobile company in China, and they upgraded their technology. They bought some patent authorization from Europe. Now they have no money, and they are not interested in the overseas market.
Tongyu Motors had contacted all the major Chinese automobile manufacturers. In the end, they even contacted some of the smaller Chinese automobile manufacturers. But they either do not want to buy, or they quoted a low price and did not want to take on the debt.
In the end, they can only contact Bing City Machinery Manufacturing Group. But the Chairman will be retiring soon, and that's why they rejected them.
Li Mingde is getting old and is planning to retire. He is a consultant to both Taihua Holdings and Bing City Machinery Manufacturing Group. He recommended Li Dafu as the Chairman, and Feng Yu, Zong Qingxian, Liu Chuanzhi, and the rest did not object. The State Administration of State-owned Assets also did not object, but they still need time for the handover.
Sharing Cars is anxious and doesn't care if the other party knows they need funds urgently and will lower their prices. They contacted Ralph, hoping they can get in touch with Feng Yu. They want Feng Yu to buy more of their assets.
After knowing Feng Yu is in New York, Sharing Cars can't wait to speak to Feng Yu. They need money now.
Feng Yu looks at the information Ralph's assistant gave him. It's a detailed evaluation of Sharing Cars' assets.
Tsk, tsk, tsk. Too many assets are marked in red. These are non-performing assets that are not worth buying. There are not many green quality assets, and this includes the few major brands under Sharing Cars.
There are also many ordinary assets that are in between good quality and non-performing assets. Feng Yu needs to consider these assets. If these assets can complement Bing City Machinery Manufacturing Group's business, then they will be considered as good quality assets. If they cannot complement each other, then they will be non-performing assets.
There were so many non-performing assets and only a few good assets. Feng Yu, who had wanted to expand his assets, suddenly does not want to buy these assets anymore.
Sharing Cars is rubbish. No wonder they will apply for bankruptcy!
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