AutoBeta(AutoBeta.net)05/24 Report--

On May 23, ideal Automobile was released in the third week of May 2023 (5.15-5.21). Its weekly sales far surpassed that of other new power brands and won the title of weekly sales of new power brands in the Chinese market. At the same time, ideal car surpasses other traditional luxury brands other than BBA to maintain the top five luxury brands in the Chinese market, making it the highest-ranked Chinese brand on the list.

The data showed that the ideal car sales in the third week of May was 7100, far higher than the second zero running car, which was 3100, while Tengli and Polar Krypton were 2600 and 2000, respectively, and only 1400, ranking eighth on the list. In addition, BMW, Mercedes-Benz, Audi and Tesla all sold more than 10,000 luxury brands in the Chinese market, while ideal car ranked fifth with 7100, making it the highest-ranked Chinese brand on the list.

It is worth mentioning that on May 15, Li wanted to post on Weibo, "We have been complained and reported by many colleagues, so it is a pity that we were temporarily unable to release real insurance data last week (May 8-May 14)." I think some colleagues can't stand the fact that some people start to fake the risk data (every car company will buy it) and take the initiative to release the real risk data of the first week to quickly correct the deviation. " In addition, Li Xiang also mentioned on social media, "the amount of insurance of the ideal car last week is not less than 6K (that is, 6000 vehicles), but 7K (that is, 7000 vehicles), which is hereby corrected!" As for why the ideal car re-announced weekly sales, Li did not respond.

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, up 516.30% from a year earlier, setting a new record for monthly delivery, while delivering more than 20, 000 for two consecutive months. So far, from January to April this year, ideal cars have been delivered a total of 78265 units, an increase of 118.11% over the same period last year.

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. Li Xiang said on a conference call after the results that he would strive to achieve the target of delivering 30,000 vehicles a month in 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.

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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