Why is it not surprising that GAC Fick went bankrupt? What is the reason?

The main reason for the bankruptcy of GAC Fick is the decline of product competitiveness in recent years, and the previous problems such as product quality and intensified contradictions with dealers have not been solved in time, which has seriously damaged the brand influence. Multiple factors led to a sharp drop in sales of GAC Fick, and the production and operation were in trouble.

In addition, Guangzhou Automobile Fick, a joint venture between Guangzhou Automobile Group and Stellantis Group, filed for bankruptcy reorganization with Changsha Intermediate People's Court on June 65438+1October 365438+1October 2022. On September 30, 2022, GAC Fick (unaudited) had total assets of 7.322 billion yuan, total liabilities of 865,438+0./kloc-0.30 billion yuan and asset-liability ratio of 65,438+0./kloc-0.80%. Obviously, GAC Fick's assets are not enough to pay off all debts, and it obviously lacks solvency.