AutoBeta(AutoBeta.net)03/20 Report--

On March 19, Xiaopeng announced its results for the fourth quarter and the whole year of last year. According to the data, Xiaopeng's total revenue in the fourth quarter of last year was 13.05 billion yuan, an increase of 154% compared with 5.14 billion yuan in the same period in 2022. In terms of sales, sales in the fourth quarter of last year were 60158, up 171 per cent from a year earlier.

In terms of car sales, revenue in the fourth quarter of 2023 was 12.23 billion yuan, an increase of 162.3% compared with the same period in 2022. Officials said the increase was mainly due to accelerated sales growth of the G6 and G9 in the fourth quarter of 2023. In terms of net loss, Xiaopeng posted a net loss of 1.35 billion yuan in the fourth quarter of last year, a decrease of 1.01 billion yuan compared with 2.36 billion yuan in the same period in 2022. The net loss in the third quarter of 2023 was 3.89 billion yuan, a decrease of 2.59 billion yuan.

It is worth noting that although Xiaopeng Motor has improved in all aspects of data in the fourth quarter of last year, it is still unable to change the situation of Xiaopeng Motor's loss last year. Data show that Xiaopeng Motor's total revenue last year was 30.68 billion yuan, and the net loss of Xiaopeng Motor for the whole of last year was 10.38 billion yuan, an increase of 1.24 billion yuan compared with 9.14 billion yuan in 2022.

In terms of sales, Xiaopeng sold 141600 cars last year, accounting for nearly half of its sales in the fourth quarter. In terms of gross profit margin, Xiaopeng's gross profit margin was-1.6% last year. As of December 31, 2023, Xiaopeng Motor has a cash reserve of 45.7 billion yuan. For comparison, by the end of 2023, the cash reserve of ideal car is 103.67 billion yuan, while that of Lulai Automobile is 57.3 billion yuan.

Judging from these data, Xiaopeng handed over the financial report data is not ideal. In fact, Xiaopeng has been lagging behind since the first half of last year. Statistics show that Xiaopeng's cumulative sales in the first half of last year were only 41400, down 39.93% from the same period last year.

To this end, Xiaopeng Motor has also made adjustments in many aspects. In terms of products, the ace model Xiaopeng G6 was launched in June last year, and the launch of this model has also brought a quantity boost to Xiaopeng car sales. Statistics show that Xiaopeng G6 sold a total of 44545 vehicles last year, accounting for more than a quarter of Xiaopeng's total sales last year. In September last year, Xiaopeng G9 was launched. In addition to the new models, Xiaopeng has also carried out preferential activities on its models such as Xiaopeng G6, Xiaopeng G9, Xiaopeng P7 and so on. This measure has also greatly increased Xiaopeng's car sales, which exceeded 20,000 in December last year.

However, in 2024, Xiaopeng's sales performance in the first two months did not continue the sales trend of December last year. Figures show that Xiaopeng sold 8250 cars in January and only 4545 in February. With regard to the downturn in sales, the official launched a large-scale MPV Xiaopeng X9 in pure electricity on January 1, with a total of four new models with a price of 359800-419800 yuan. At the same time, a new round of organizational structure adjustment has been carried out. In terms of sales channels, officials have also made adjustments, saying that they will start an innovative dealer cooperation model, by establishing a channel inventory of about half a month, speed up terminal delivery, fully activate the enthusiasm of dealers, and effectively increase sales.

In terms of products, officials also plan to launch new brands. Recently, Xiaopeng founder he Xiaopeng revealed at the China Electric vehicle 100 Forum that Xiaopeng will launch a brand-new brand A-class product of 100000 to 150000 yuan to the world within a month, and put the AI model into the car in the second quarter. He Xiaopeng pointed out that the new brand in this market price belt will subvert technological innovation, create a new species of AI smart driving, and provide young people with a real AI smart car.

According to the official plan, about 30 new products or modifications are planned in the next three years, and two new models will be launched this year, one of which will be released on 300000 + and 150000 platforms. The first model of the 150,000-class platform is Xiaopeng's first car codenamed "MONA" with Didi; the first car of the 300000-class platform, or a car codenamed "F57", will go on sale in the second half of the year.

It remains to be seen whether these measures can help Xiaopeng turn around its sales. In addition to the results, officials also said that for the first quarter of this year's sales outlook, delivery will be between 21000 and 22500 vehicles. This figure means that Xiaopeng needs to sell more than 8250 cars in March, and with reference to January sales, it is not difficult to achieve the outlook for the first quarter of this year.

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