AutoBeta(AutoBeta.net)02/01 Report--

On February 1, Feifan Automobile officially announced that it would adjust the price of some models of its MARVEL R and ER6 models. Specifically speaking, the adjusted price of MARVEL R is 21.98- 261,800 yuan. Except for the price of entry-level models, the price of rear-drive PRO version and four-wheel drive PRO version is increased by 2000 yuan. After adjustment, the price of Feifan ER6 is 15.68- 201,800 yuan, and the price of all models rises by 1000 yuan. The models with this price adjustment have not been adjusted in terms of configuration, while the option fee remains unchanged for models with optional White Warrior (Pearl White) and Black Warrior (Pearl Black) paints.

Feifan Automobile is actually SAIC R, and SAIC R is SAIC Roewe independent pure electric brand. On April 20,2020, SAIC Roewe exposed a brand-new R mark. Roewe said that the brand-new R standard will become the exclusive symbol of mid-and high-end new energy vehicles, covering the mid-and high-end products of Roewe New Energy, including MARVEL and ER series models. On October 29,2021, SAIC Group announced that it would invest in the establishment of an automobile company named "Extraordinary Automobile Technology Co., Ltd.". The original R brand of passenger car branch will be market-oriented operation by Feifan Automobile in the form of independent company, and the market of medium and high-end electric vehicles will be deeply cultivated in the future.

Yang Xiaodong, vice president of SAIC Group, once said that R standard bears the historical mission of SAIC passenger car independent brand upward, but under the background of hot performance of new energy vehicle market this year, the sales volume of R brand may still be far from the expectation of the market. Cui Dongshu, secretary-general of the Association, once said that under the condition that the joint-venture brand new energy high-end vehicles have not been effectively launched, the high-end of self-owned brand new energy is still relatively favorable, which is a development opportunity for self-owned brands. Compared with overseas brands, independent high-end new energy brands have strong regional advantages and local advantages of traditional industrial chain combination, but there are disadvantages in technology and intelligence.

As for the reason for the price increase of Feifan automobile, it has certain relationship with the subsidy slope of new energy automobile. On December 31,2021, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology and the National Development and Reform Commission jointly issued that the subsidy standard for new energy vehicles in 2022 will decline by 30% on the basis of 2021, specifying that the subsidy for new energy vehicles will be terminated on December 31,2022, and no subsidy will be given to vehicles licensed after December 31. After the policy was issued, it immediately caused a wide impact in the industry.

According to statistics, since December 2021, Tesla, Xiaopeng Automobile, Nezha Automobile, GAC Ai 'an, Zero Run, Polar Star and other new energy automobile brands have been officially announced to raise the prices of some of their models. On December 28,2021, the price of zero-run T03 under zero-run automobile was increased. The price of 2022 model was 689 - 84,900 yuan, while the price of 2021 model was 598 - 99,800 yuan. The price of 2022 lowest equipped model was 8000 yuan higher than that of 2021 model. On December 31,2021, Tesla announced an increase in the price of Model 3 and Model Y, in which the price of Model 3 rear-wheel drive version was adjusted to 265652 yuan, up 10,000 yuan compared with the previous one; the price of Model Y rear-wheel drive version was adjusted to 301840 yuan, up 21088 yuan compared with the previous one.

On January 11, Xiaopeng Automobile announced that the price of all models increased by thousands of yuan, among which Xiaopeng P7 rose by 4300-5900 yuan, and the price after the latest subsidy was 2242 - 409,900 yuan;P5 rose by 4800-5400 yuan, and the price after the latest subsidy was 1627 - 229,300 yuan; G3i rose by 4800-5400 yuan, and the price after the latest subsidy was 1546 - 193,200 yuan. Also on January 1, the price of Polar Star 2 single-motor standard endurance version and single-motor long-endurance version increased by 5000 yuan, and the official price of Polar Star 2 was adjusted to 2578 - 338,000 yuan. In addition, BYD released a "description of model price adjustment" on its official Weibo, announcing that the official guidance price of new energy models related to its Dynasty network and Ocean network will be adjusted, ranging from 1000 yuan to 7000 yuan. The price adjustment will take effect from February 1, and customers who have paid a deposit before this will not be affected by the price adjustment.

Subsidies for new energy vehicles mean that consumers need to pay more for car purchases, and the impact on sales in the short term is inevitable, but from the perspective of future market development, there may be a phenomenon of "buying more and more", because subsidies for new energy vehicles will be cancelled after next year, and consumers will no longer enjoy subsidies. From the perspective of overall consumption expectation, automobile demand is relatively rigid, and the current terminal price increase has limited impact on demand. At the same time, relevant policies to promote consumption may appear on the policy side.

For the new energy vehicle subsidy slope impact, Shengang Securities pointed out that the terminal price short-term fluctuation but long-term stability. Tesla, FAW-Volkswagen, NIO, Xiaopeng and other automobile enterprises take countermeasures such as price increase and price difference compensation after subsidy slope retreat. The short-term terminal sales price may fluctuate, but with the gradual appearance of scale effect of electric vehicles, the long-term terminal price is expected to remain stable.

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