Liu Tao Is Disempowered, Xu Yin Airborne, Jiang Jun Unmoved: Three Questions on IM Motors Personnel Adjustment

Losing money for five consecutive years, three consecutive sales losses, losing 44,000 for every car sold — IM Motors didn't replace the CEO, only changed the marketing head.

August 18, 2026, all-new IM L6 pre-sale launch event. Standing on stage was a strange face — Xu Yin, title is IM Motors Vice President. Previously for years standing in the spotlight, co-CEO Liu Tao did not appear throughout the process.

The launch event itself was lively, but people downstairs cared more about another matter: What exactly is being adjusted in this round of IM Motors personnel adjustments?

Looking closely, there are three question marks that cannot be avoided.

Question One: Why is Jiang Jun still here?

First, look at a basic fact: Jiang Jun is still here, and his position is very stable.

Jiang Jun, born March 1970, currently Vice President of SAIC Motor Group and CEO of IM Motors. Promoted to Vice President of SAIC Motor Group in December 2023. At the SAIC Motor Group First 100 Millionth Car Delivery Ceremony in May 2026, standing beside Chairman Wang Xiaoqiu and President Jia Jianxu was still him. In the IM Motors 5th Anniversary internal letter in December 2025, jointly signed by him and Liu Tao.

Jiang Jun's resume is excellent: Originally from SAIC General Motors After-sales Service Director, climbed to Deputy General Manager of SAIC Passenger Vehicles and Executive Director of Marketing Department, then to IM Motors CEO. SAIC Motor Group's "own person", well-rooted.

But the question is: What has IM Motors achieved?

In 2025, IM Motors annual sales were 81,000 vehicles, missing the target for the third consecutive year. 2023 target 45,000, actual 38,300; 2024 target 120,000-130,000, actual 65,500; 2025 target 100,000, completion rate only 81%. 2025 full year net loss 3.598 billion yuan, equivalent to losing 44,000 yuan for every car sold. Asset-liability ratio as high as 90.8%. 2026 first half target completion rate only 30.8%-36.4%. June sales 6,197 units, about 6% of Leapmotor, 12% of Huawei Harmony Intelligence. Dealer loss area continued to expand, dealer "explosions" appeared in multiple places such as Kunming, Zhuhai, Shanghai.

Five years, SAIC's "No. 1 Project" just hands over this report card.

As CEO, who decided the strategic direction? Who controlled the product rhythm? Who approved the sales target? If these are not his responsibility, then what exactly is the CEO's responsibility?

A CEO who couldn't hand in a qualified report card for five consecutive years was not only not held accountable, but promoted to Group Vice President. Is this a problem of ability, or a problem of the system?

Question Two: Liu Tao Is Disempowered — Is it a "Soft Transition" or "Passing the Buck"?

Look at Liu Tao again.

Liu Tao is IM Motors' "face", but also IM Motors' "trouble". In April 2024 IM L6 launch event, he repeatedly "pulled a stunt" with Xiaomi Auto, and also mislabeled competitor data in parameter comparisons, being fiercely countered by Xiaomi in three Weibo posts, finally IM Motors apologized overnight. In September of the same year new LS6 launch event, he personally drove to perform drifting, result hit stage cones twice. In February 2026, he formally apologized for inappropriate remarks about Tesla Chaozhou accident made three years ago. Plus test drive violation driving, vehicle screen black screen apology — Liu Tao's "history of apologies" could almost be written into a book.

In April 2025, Liu Tao set two Flags: annual sales 100,000 vehicles, profitability achieved in December by full cost accounting. Former fell through, latter achieved — but monthly profitability ≠ long-term profitability. Under the industry consensus that breakeven can only be achieved when monthly sales stabilize at 30,000-40,000 vehicles, IM Motors still has distance from the safety line.

In August 2026, Xu Yin took over domestic marketing as Vice President, Liu Tao "business focus shifted overseas".

The question is: A co-CEO, had the most core domestic business "divided" away by a lower-level Vice President — what is this if not reducing power?

Verified with IM Motors PR, co-CEO is indeed one level higher than Vice President. Then why does a higher-level executive yield the main battlefield to a lower-level person? Title unchanged, power gone. This "soft transition" rhetoric is familiar in any enterprise.

But this brings up a bigger question: Is Liu Tao's problem just Liu Tao's individual problem?

Liu Tao's marketing style — stunts, bashing, drifting crashes — not formed in one day. Who approved these strategies? Who approved these launch events? If Liu Tao alone can decide IM Motors' marketing direction, then what is CEO Jiang Jun doing? If Jiang Jun approved these plans, does Jiang Jun need to take the blame for Liu Tao's "crash" together?

Moving Liu Tao away, bringing Xu Yin up, can this solve IM Motors' fundamental problem?

Question Three: Xu Yin — A Variable, Why Trust Him?

Finally look at Xu Yin.

Xu Yin is an SAIC "veteran", worked in the group for nearly 20 years. In 2015 served as Roewe Brand Regional Marketing Senior Manager, in 2018 responsible for SAIC Passenger Vehicles National New Energy Sales. Around 2020 sent to Thailand, served as MG Sales (Thailand) General Manager, SAIC Chengda Co., Ltd. Vice President. In June 2026 transferred back from Thailand to domestic, served as IM Motors Vice President.

Resume not bad, but good resume doesn't equal ability to fight this battle well.

Xu Yin admitted himself: "Thailand market itself is also very competitive, but after coming back found domestic even more competitive, rhythm also faster." After returning home held meetings with dealers, got two sets of data: First half domestic 527 new cars launched; January to July whole market decreased 20%.

What is his tactic? No longer "compete on parameters, compete on range, compete on 0-100", but provide "emotional value". Co-branded with Prof. Jimmy Choo, tag "Not For Everyone". All models standard equipped wire-controlled chassis, using hard technology to support bottom, using soft value to break circle.

Sounds beautiful, but how many cars can be sold?

Xu Yin himself didn't give a clear answer. He said: "If they are satisfied, we have such great potential, and have such cheap prices, I believe sales will flow naturally."

"Flowing naturally" — these four characters are the most expensive four characters in the automotive industry. In a market where over 500 new cars are launched in half a year, in a brand missing targets for five consecutive years, "flowing naturally" is more like a self-soothing phrase.

Besides, Xu Yin has only been in office for two months. A car's launch cycle cannot be only one or two months, when he intervened in L6 project "work had already progressed to middle-late stage". This L6's success or failure, largely not Xu Yin's credit or fault — he took over a report card drawn by others.

What truly tests Xu Yin is the next car, next complete marketing cycle. But that is at least a year later matter.

Can IM Motors afford to wait?

The Same Question Behind the Three Questions

Jiang Jun stays put — five years, report card looks bad, but position is getting more stable.

Liu Tao is "softly transitioned" — decently marginalizing the "founding member", but how many fundamental problems solved?

Xu Yin is a variable — resume beautiful, tactic novel, but in China's most ruthless automotive market, everything yet unverified.

These three question marks point to the same core question: Does IM Motors' management accountability mechanism really exist?

CEO doesn't need to be responsible for failing targets for five consecutive years, co-CEO transferred away due to marketing crash but title remains unchanged, a new Vice President is expected highly but hasn't even walked through a complete cycle — this is not a problem solvable by one personnel adjustment, this is a problem of the entire governance structure.

Can Xu Yin fight this battle well? Don't know. But what can be determined is: If Jiang Jun continues to "sit steady in the command tent", if accountability only falls on the execution layer without touching the decision layer, if "soft transition" becomes the norm — then whoever is replaced, the result might be the same.

SAIC's first 100 millionth car is IM LS9 Hyper. This is glory, also pressure. But glory cannot serve as food, sales and profit are the hard truth.

Can Xu Yin's "emotional value" exchange for sales? Liu Tao's "overseas market" is real territory expansion or real exile? Jiang Jun's "stability" is truly a stabilizing needle or immovable as a mountain?

Answers are not at the launch event, but in the market. And the market, never waits for anyone.