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On November 21, ideal released its sales ranking for the new week (November 13-November 19). Data show that ideal car weekly sales of 10, 000, as of November 19, ideal car sales this month has reached 25400, continue to lead the new power. At the same time, ideal car surpassed 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.

Specifically, ideal car sales in the new week (November 13-November 19) are 10, 000, much higher than the second zero running car, which is 4500, while Mengjie, Xiaopeng and Weilai ranked third to fifth, respectively. Weekly sales were 4300, 4200 and 3700, respectively. In addition, BMW, Tesla, Audi and Mercedes-Benz all sold more than 10,000 luxury brands in China, while ideal car ranked fifth with 10, 000 vehicles, making it the highest-ranked Chinese brand on the list.

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 Xilai, although the products sold by both are priced at more than 300000 yuan, there are only three models at present, and all of them are popular styles. Take the new week's model sales as an example, the ideal L7 sales are 4000, while the ideal L8 and L9 sales are 3000.

On October 31, ideal CEO Li posted on Weibo: "after the monthly delivery of the three models is completed, we will continue to challenge the next higher difficulty: the overall 50, 000 / month, and the ideal L7's 20, 000 / month." It stressed, "50,000 per month refers to the current three models (L9, L8, L7), otherwise it will not be a challenge."

Since entering 2023, the sales of ideal car has ranked first in the new power market of car building. In October 2023, ideal delivered 40422 new cars, a month-on-month increase of 12.10% and a year-on-year increase of 302.13%, setting a new high for monthly delivery. this is also the first time that it has delivered more than 40,000 vehicles a month for the first time this year. So far, in the first 10 months of this year, ideal car delivered a total of 284647 new cars, an increase of 193.51% over the same period last year, which also means that ideal car will achieve its annual sales target of 300000 vehicles ahead of schedule.

The rise in sales has also led to better financial results for ideal cars. On November 9th, ideal Motor announced its third quarter 2023 results. According to the financial report, the revenue of ideal Automobile in the third quarter was 34.68 billion yuan, an increase of 271.2 percent over the same period last year; operating profit and net profit were 2.34 billion yuan and 2.81 billion yuan respectively, achieving four consecutive quarterly profits; gross profit margin was 22.0 percent; investment in research and development was 2.82 billion yuan, an increase of 56.1 percent over the same period last year; free cash flow was 13.22 billion yuan, and cash reserves were 88.52 billion yuan.

For ideal car to achieve quarterly profits, Li would like to say that with the continuous expansion of the business scale, ideal car will maintain healthy profitability and continue to invest in research and development to support the company's long-term development.

According to the plan, ideal MEGA, the fourth model of ideal Motor, will begin mass production in February next year. At the 2023 Guangzhou Auto Show, ideal MEGA, the first pure electric MPV model under ideal Motors, was unveiled and booked at the same time, and the price will be less than 600000 yuan. In other words, the MEGA model will hit the market of more than 500000 yuan.

As for the future performance of the new car, Liu Jie, vice president of ideal Automobile, said in an interview with the media that the goal of ideal MEGA is to become the top seller of more than 500000 models, regardless of energy form and body form. It is pointed out that the market segment has a sales scale of about 60,000 vehicles, and the share of an excellent product is at least 10%. If it does not meet this standard, it may not be an excellent product.

In addition, Liu Jie said that the penetration rate of new energy vehicles in the market of more than 200000 yuan has exceeded 35%, but the penetration rate of new energy vehicles in the market of more than 500000 yuan is only 11%. This also means that there are not enough good products in the market of more than 500000 yuan to promote users to change from fuel vehicles to new energy vehicles, and there are huge opportunities behind this phenomenon. At the same time, Liu Jie reiterated the ideal car's goal of pursuing a 20% gross profit margin. It said that a gross profit margin of 20% is an important operating requirement for an ideal car. If an enterprise wants to become a high-end brand or luxury brand recognized by consumers, it is useless to rely on marketing and packaging. It must rely on long-term and solid R & D investment. It must reach a gross profit margin of 20% in order to support and ensure long-term sustained R & D investment.

For the short-term fourth quarter performance, ideal expects monthly delivery of more than 40,000 vehicles, quarterly delivery volume is expected to reach 125000 to 128000 vehicles, an increase of 169.9% to 176.3% over the same period last year; quarterly revenue is expected to reach 38.46 billion yuan to 39.38 billion yuan, an increase of 117.9% to 123.1%.

According to the latest report, supply chain authorities say that the sales of ideal cars to supply chain enterprises in 2024 are estimated to be 800000. With regard to this sales target, the person in charge of ideal Automobile responded that the specific target figures for 2024, including production capacity, have not yet been disclosed, and generally speaking, it is desirable to challenge luxury brands to the first place in 2024.

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