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According to 36 krypton and other media reports, he Xiaopeng, chairman and CEO of Xiaopeng Automobile, released a full-staff email on the evening of October 21, announcing a comprehensive organizational restructuring in order to reverse the decline in Xiaopeng automobile products and sales.

According to people familiar with the matter, the biggest change in Xiaopeng's organizational restructuring is that Xiaopeng began to business unit the organizational structure (business unit) to adjust the impact of the previously over-centralized organizational structure on operational efficiency. The adjustments include plans to establish a virtual committee organization, covering the five major committees of strategy, production planning, technical planning, production and marketing balance and the OTA committee. at the same time, Xiaopeng also plans to establish three virtual product matrix organizations, namely E platform product matrix, F platform product matrix and H platform product matrix. Insiders said: this major adjustment of Xiaopeng is no less than the "930" adjustment of Tencent in 2019, which has attracted a lot of attention, while the previous organizational adjustment of Tencent involved the restructuring and integration of the company's seven business groups. it also attracted the attention of the whole industry.

According to people familiar with the matter, the trigger for Xiaopeng to make this big adjustment is the problems in the listing of Xiaopeng G9, including the complexity of the product SKU, product planning divorced from user needs and marketing failure. Xiaopeng hopes that after the listing of the G9, it can bear the responsibility of raising gross profit margin and enhance the influence of the brand. In addition, before Xiaopeng G9 went on the market, Xiaopeng's products also had the problem of product iteration. Xiaopeng P5, the third model of Xiaopeng, was not as expected, and the main sales came from Xiaopeng P7, but this model has been on the market for nearly three years and the update is limited. Xiaopeng official did not respond to this comment for the time being.

According to the concern of the automobile industry, the Xiaopeng G9 is the latest model launched by Xiaopeng Motors, which officially launched on September 21, with a total of 6 models with a price range of 30.99 yuan to 469900 yuan. It is the first model under Xiaopeng with an average price of more than 300000 yuan, so it is highly expected. Before the launch of the new car, he Xiaopeng said that "the G9 will be the best SUV within 500000". At the time of the launch, he Xiaopeng continued to campaign for the Xiaopeng G9: "the Xiaopeng G9 will take over Porsche as the benchmark and will exceed Audi Q5 in sales next year." As soon as this remark came out, the topic of # he Xiaopeng saying that Xiaopeng G9 took the baton to Porsche # immediately appeared on the hot search list of Weibo. However, the configuration and price of the new car were modified in just two days, because some booking owners thought that the configuration of different versions of Xiaopeng G9 was complex, and it was difficult to distinguish the relationship between versions, which dazzled consumers. Some booking owners also said that the selling point advertised by Xiaopeng G9 was not standard, and the model could not be optional, so many booking owners openly shouted "cancel the reservation, which is affected by this." Xiaopeng car has made adjustments to the configuration and price of the Xiaopeng G9, among which the change is to increase the quantity without increasing the price, which is equivalent to a price reduction of 20,000 to 30,000 yuan in disguise.

As a new power car company of head car manufacturing, Xiaopeng Automobile was founded in 2014 and has become a new power car brand in China together with ideal Automobile and Xilai Automobile. Xiaopeng Automobile has four models on sale: Xiaopeng Automobile P7, Xiaopeng Automobile G3, Xiaopeng Automobile P5 and Xiaopeng G9. In terms of new car delivery, Xiaopeng delivered a total of 98155 new cars in 2021, exceeding the original target of 90, 000 and becoming the largest number of new car-building forces in the country.

But after entering 2022, Xiaopeng's life is not easy. In fact, before this round of major adjustments, Xiaopeng's organizational structure and personnel changes occurred frequently. For example, in May this year, there were media reports that Xiaopeng was carrying out executive adjustments and layoffs in several departments. And a number of senior executives have changed, and individual executives have left, including he Liyang, vice president of Xiaopeng's overseas business, who has recently left. His work is currently taken over by Jin Bin, vice president of Xiaopeng HR. In addition, Xiaopeng Motor has been reduced many times. On June 22nd, Xiaopeng Motor was reduced by JPMorgan Chase in 3.0208 million shares at an average price of HK $120.7484 per share, involving about HK $365 million. Citigroup (investment agency) reduced its stake in Xiaopeng Motor 563700 shares to less than 5%, and there is no need to announce any reduction thereafter. In addition, the market capitalization of the new car-building forces has declined collectively this year, of which Xiaopeng Motor has shrunk the most.

In terms of products, according to Xiaopeng's previous plan, Xiaopeng's annual sales target for 2022 is 250000 vehicles, with an impact on 300000 vehicles. Specific vehicle distribution, P7 models, P5 models and G9 models account for a total of 81%. The proportion of G3 models is 19%, of which P7 models account for 40%, and P5 models account for 27%; due to the late launch of G9 models, sales are expected to account for 14%.

The latest data show that in the first three quarters, Xiaopeng delivered less than 100000 vehicles. According to the target of 250000 vehicles, Xiaopeng only accounted for 39% of the target. Even if Xiaopeng delivered 100000 cars in the fourth quarter, there is also a big gap with the annual sales target of 250000 vehicles. Data show that from January to September in 2022, Xiaopeng delivered a total of 98553 vehicles, an increase of 74.7% over the same period last year, surpassing Fairai and ideal. But specific to each month is slightly behind. Take September as an example, Xiaopeng delivered a total of 8468 new cars in September, down 18.7% from the same period last year and 11.6% from the previous month, which was lower than the ideal. Xiaopeng P7 delivered 4634, Xiaopeng P5 delivered 2417, Xiaopeng G3i delivered 1233, all of which were mediocre. It should be noted that this is the first time that Xiaopeng has been at the bottom of the year, and sales have declined for three months in a row. In addition, according to the insurance data, since July, the insurance volume of Xiaopeng cars has shown a continuous downward trend, with the insurance volume from July to September being 15352, 11603, 9535 and 8416 respectively. As a comparison, the two car companies of NIO and ideal are almost stable at about 10, 000.

In the first half of 2022, Xiaopeng Automobile was the one that delivered the most new cars among the three "Wei Xiaoli" car companies. According to the financial report, the gross profit margin of Xiaopeng car in the first half of 2022 was 11.6%, of which the gross profit margin was 9.7%, compared with 10.6% in the same period. As a reference, the ideal gross profit margin of cars is 22.1%, of which the gross profit margin of cars is 21.8%.

Last month, Meituan and Wang Xing said, "for the past 20 or 30 years, the leader of China's high-end car market has been German BBA (Mercedes-Benz, BMW, Audi), and the next two or three years will depend on'Li Wei Hua'(ideal, Lulai, Huawei). No matter which company wins, China will win. " Although Xiaopeng Automobile, ideal car and Xilai Automobile are both new domestic car-building forces, from Wang Xing's remarks, in the "Wei Xiaoli" camp, it is obvious that he is not optimistic about Xiaopeng Automobile. With the fierce competition in the car market, Xiaopeng Motor may face more severe challenges.

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