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Old 12-07-2018, 05:13 PM   #3
dmitra
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Join Date: Nov 2013
Posts: 7,682
Default Hawtai mismanagement, suspected sales data "manipulation"

Hawtai may be at it again, as a few articles have appeared alleging recurrence of a past misdeed: suspected sales data fraud, coupled with internal mismanagement as well as deviousness during the Huanghai acquisition.

http://www.cnwnews.com/biz/2018/1129/891662.html
http://finance.sina.com.cn/chanjing/...y6464253.shtml

Recall in 2011 this happened:
http://chinaautoweb.com/2011/06/hawt...sales-numbers/

This year, till end-October, Hawtai has reported sales (deliveries) of 88,353 cars (excluding commercial vehicles from Huanghai). Retail figures (published on Matt Gasnier's Best Selling Cars Blog) show sales of 2,664 only for the same 10-month period. Going back six months, for example, deliveries for Jan-Apr were reported as 16,005 whereas retail sales were just 898! Except for the New Shengdafei, monthly retail sales for the other Hawtai models are usually seen in single digits or low double digits. This is hard to reconcile, because taken at face value it would imply that dealers are being forced to add stock month after month (eventually sitting on lots) without being able to push inventory in comparable numbers. It is impossible to believe dealers would be happy keeping several years' worth of inventory on hand. It is also impossible to believe that most of the deliveries are exports since Hawtai is hardly known for to sell its cars in other markets in any significant amounts.
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