AutoBeta(AutoBeta.net)01/17 Report--

After Tesla, AITO asked about the price reduction, another car enterprise official announced the price reduction.

On the afternoon of January 17, Xiaopeng officially announced a price adjustment for some of its models. Xiaopeng said that the new New year price system for G3i, P5 and P7 models will be launched at 14:00 on January 17, 2023. After the adjustment, the price of the Xiaopeng P5 is 15.69-202900 yuan, which is 23000 yuan lower than the original 17.99-225900 yuan. The price of the Xiaopeng P7 is 20.99-249900 yuan, which is 3.0-36000 yuan lower than the original 23.99-285900 yuan. The price of Xiaopeng G3i is 14.89-176900 yuan, which is 2.0-25000 yuan lower than the original 16.89-201900 yuan.

Taken together, the lowest drop in the three models of Xiaopeng G3i/P5/P7 is 20, 000 yuan and the highest is 36000 yuan. At the same time, Xiaopeng Automobile also said in the announcement that the first car owner who ordered G3i/P5/P7 within one year before this announcement will give Spring Festival feedback at the same time, including vehicle quality guarantee, which will be extended to 10 years / 200000 km (when the first car owner replaces this new car, he can enjoy the same quality guarantee again); vehicle maintenance, given 4 years of basic maintenance.

According to the official website, Xiaopeng has a total of four models: Xiaopeng G3i, Xiaopeng P7, Xiaopeng P5 and Xiaopeng G9, that is to say, the price reduction of Xiaopeng does not involve the newly launched main model Xiaopeng G9. Data show that a total of 120757 Xiaopeng cars were delivered in 2022, an increase of 23 percent over the same period last year and only 48.30 percent of the annual sales target, lagging behind ideal cars and Lulai cars.

In fact, Xiaopeng's annual sales will be surpassed by ideal cars and Xilai cars. In 2022, Xiaopeng Automobile showed a month-on-month decline for several months in succession, ranking at the bottom of the list of new car-building forces. Since then, it has also carried out in-depth organizational structure adjustment, including the establishment of three product matrix organizations, etc., and the number of P7, P5 and G3i cars has been streamlined on the products. Among the subdivided model sales, according to the new car traffic insurance data, Xiaopeng P7 sold 58900 vehicles in 2022, which is the best-selling model under Xiaopeng Automobile; Xiaopeng P5 is 37700; Xiaopeng G3i is 17500. Xiaopeng G9, as a new model on the market, has sold a total of 6332 vehicles since it officially started delivery on October 27th.

Xiaopeng is the third car company to announce a price reduction this month. it should be noted that when Tesla announced the price reduction at the beginning of this month, relevant people inside Xiaopeng replied that Xiaopeng has its own sales tempo and will decide product prices and promotional activities according to its own situation, rather than following other car companies. On January 6, Tesla China announced a sharp price reduction of its two domestic cars, by as much as 48000 yuan, becoming the car company to start a price reduction in 2023, of which Model 3 fell by 2.0-36000 yuan and Model Y by 2.9-48000 yuan. Surprisingly, Tesla's unprecedented price reduction has brought it considerable sales performance. according to reports, after the price reduction, Tesla stores generally ushered in sales growth, and existing cars were emptied in many places. the number of orders in some stores even soared 500% month-on-month. Of course, in addition to the Chinese market, there are varying degrees of model price adjustments in the Asia-Pacific region, including South Korea, Japan, Australia, Germany, Britain, France and other European markets, as well as Tesla in the United States.

On January 13th, AITO announced the price reduction of its M5 EV and M7 models, becoming the first domestic car brand to follow Tesla's price reduction. Among them, the adjusted prices of the two M5 EV models are 259800 yuan and 289800 yuan, respectively, 28800 yuan and 30, 000 yuan, respectively; the price of the M7 top model remains unchanged, and the adjusted prices of the other two models are 289800 yuan and 309800 yuan, both by 30, 000 yuan. In addition, AITO also launched a "Thanksgiving" campaign for older car owners, providing benefits with a total value of 3.3 to 35000, including vehicle extension and points.

Whether it is Tesla, AITO or Xiaopeng Automobile, the ultimate goal of price reduction is to exchange sales at low prices and seize more market orders. it should be noted that Tesla is a car company with high bicycle profit margins in the automobile industry, which is also the source of other car companies' rising prices, while Tesla dares to lower prices. For most of the new energy manufacturers that have not yet made a profit, following Tesla's price reduction may make the financial performance even worse. According to the financial report, in the first three quarters of 2022, Xiaopeng Motor and Cyrus are in a state of loss, of which Xiaopeng Motor has accumulated revenue of 21.75 billion yuan and accumulated losses of 6.778 billion yuan; Selis has accumulated revenue of 23.123 billion yuan and a cumulative net loss of 2.675 billion yuan.

Xiaopeng Automobile Financial report

Among the models of this price reduction, the Xiaopeng G9 is no longer in the category of price reduction. Xiaopeng G9 is the latest model of Xiaopeng, which went on sale on September 21 and began delivery on October 27th. The car undertakes the double-layer task of raising gross profit margin and brand influence. Xiaopeng's failure to adjust its price may also be based on vehicle gross profit margin. The tram report believes that whether Xiaopeng can achieve growth in the future, the follow-up market performance of Xiaopeng G9 is particularly important.

In addition, affected by factors such as the decline of new energy subsidies and rising prices of raw materials, more new energy manufacturers choose to transfer part of the cost pressure by raising prices after 2022. Previously, car companies, including BYD, Chery New Energy, Changan Deep Blue, Naga, Weima and other car companies have announced price increases. In addition, there are also car companies that will not follow the trend of price adjustment. On January 16, Zhao Yuhui, vice president of Polar Krypton Intelligent Technology, said, "Polar Krypton will not follow the trend of price adjustment." Take the newly upgraded 2023 polar krypton 001 as an example to achieve a leapfrog product power at the current corresponding price. "

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