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2024-09-08 Update From: AutoBeta autobeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)05/21 Report--
A few days ago, Li wanted to post on Weibo, "if the total sales of the ideal L9, L8 and L7 fall to 5,000 or 6,000 vehicles per month, the gross profit margin of the ideal car will become negative." At the same time, Li wants to say, "the cost control ability of most of our peers is obviously better than ours, and it is worth our serious study." It is not the cost but the sales volume that is more likely to go wrong. The attribute of the automobile industry is too demanding on scale. "
Li Xiang has also expressed his views on the topic of cost control of car companies before. After BYD released its 2022 annual report at the end of March, Li commented that "BYD's fourth-quarter gross profit margin is comparable to Tesla's fourth-quarter gross profit margin (direct management system), taking into account the lower average selling price. BYD vehicle cost management is significantly better than Tesla. Finance is the most rational examination question, this answer paper is very excellent. It is understood that the ideal gross profit margin for cars is 22.4% in the first quarter of 2023 and 20.0% in the fourth quarter of 2022.
Since the beginning of this year, the ideal car has ranked first in the new power market. In April 2023, ideal car sales were 25681, an increase of 516.30% over the same period last year, far surpassing other new power brands such as Nezha, Polar Krypton and Ulay. While setting a new monthly delivery record, it achieved delivery of more than 20, 000 vehicles for two consecutive months. At the same time, ideal car continues to rank among the top five luxury brands in the Chinese market, becoming the highest-ranked Chinese brand on the list, surpassing other traditional luxury brands except BBA.
On May 10, ideal Automobile announced its results for the first quarter of 2023, showing that the ideal automobile business income during the reporting period was 18.79 billion yuan, an increase of 96.5 percent over the same period last year, of which vehicle sales revenue was 18.33 billion yuan, an increase of 96.9 percent over the same period last year. The net profit was 934 million yuan, turning a loss into a profit from a net loss of 10.866 million yuan in the same period, and an increase of 252.0% over the net profit of 270 million yuan in the fourth quarter of 2022. Ideal Automobile has also become the first new car-making force to make a profit for two consecutive quarters. In addition, the gross profit margin is 20.4% and that of vehicles is 19.8%.
Ideal said the increase in sales revenue was mainly due to increased deliveries and an increase in the average selling price of ideal L-series models. Data show that ideal cars delivered a total of 52600 new cars in the first quarter, an increase of 65.8% over the same period last year. Ideal expects delivery of 7.6-81000 vehicles in the second quarter, up 164.9% and 182.4% from a year earlier, after it announced that it would deliver 25700 vehicles in April, meaning delivery would remain above 25000 in May and June.
At present, ideal cars are all sold at more than 300000 yuan. as to whether they will enter the market with a price range of 200000-300000 yuan, Li Xiang pointed out at the financial report meeting that "the competition in the range of 200000-300000 yuan is more fierce, and it needs to have stronger economies of scale." and then enter the price range of 20-300000 yuan. "
Overall, in the luxury car market of more than 300000 yuan, including traditional fuel vehicles and new energy vehicles, ideal cars have been firmly in the top five and are getting closer and closer to BBA. Different from NIO, although the products sold by both are priced at more than 300000 yuan, it is ideal that there are only three models, and the style is popular. It is worth mentioning that, in addition to the add-on program, ideal car has announced to enter the pure electric market, the first pure electric MPV will be released at the end of the year, followed by the launch of six pure electric models, "extended range + pure electric" walking on two legs is still worth looking forward to.
However, with the intensification of market competition, there are more and more competitors for ideal cars, especially Wei Brand of Great Wall Motors, whose newly launched Blue Mountain and upcoming new mocha are aimed at L8 and L7 respectively, both of which are much lower than ideal counterparts in terms of price, which may put some pressure on the ideal. However, Li Xiang said that more and more brands to participate in the competition is good for us, users see that publicity may eventually choose our products, the biggest competition with the L8 model or (Tesla) Model Y. "
Earlier, ideal car CEO Li wanted to release an internal letter clearly stating that ideal Automobile's strategic goal in 2025 is to gain 20% market share and become the number one smart electric vehicle company in China. Li Xiang said in an internal letter that China is expected to sell more than 8 million smart electric vehicles in 2025 and that gaining more than 20 per cent market share is a necessary condition for becoming a leading Chinese company.
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