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Drop 13000 RMB! Another truckload of business officials announced a price reduction

2024-03-02 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)05/22 Report--

On May 22nd, Wuling Motors announced that the Wuling Hongguang MINIEV family will drop 13000 yuan to the highest level, and the whole system will be sold from 29800 yuan. Both new and old users can enjoy a discount. This price reduction is from May 22 to June 30. The reduced prices include Wuling Air ev clear Sky and Wuling Hongguang MINIEV.

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Specifically, the four Wuling Hongguang Air ev models have a maximum drop of 13000 yuan. Among them, the price of the Air ev four-seat 300km advanced version fell the most by 13000 yuan, and the price of the Air ev four-seater 300km, Air ev two-seater 300km advanced version and Air ev two-seater 300km standard edition decreased by 10,000 yuan respectively, from 76800, 75800 and 67800 to 66800, 65,800 and 57,800 respectively. The prices of four models of the Hongguang MINIEV family have plummeted by 6000 yuan, including 300km from 69800 to 63800 yuan, 300km from 67800 to 61800 yuan, 200km from 57800 to 51800 yuan, 200km from 55800 to 49,800 yuan, and the Hongguang MINIEV standard model from May 22 to June 30, with a price of 29,800 yuan, returning to the era of 20,000 yuan again.

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On July 24, 2020, SAIC GM Wuling launched Hongguang MINIEV mini electric car. The ultra-low price of less than 30, 000 made many consumers become car owners, and Hongguang MINIEV also won the title of "national walker" because of the ultra-low price of 28800 yuan. However, affected by the rising price of raw materials, in March last year, the price of all Hongguang MINIEV models rose by 4000 to 8000 yuan, and the starting price rose to 32800 yuan. The 2022 Hongguang MINI EV starts at 34800 yuan.

The advantages of cheap prices and scarce models once made Hongguang MINIEV a "popular style" in the A00 market and occupied a unique share in the market segment. Data show that from July 24, 2020 to January 29, 2023, Hongguang MINIEV has sold a total of 1.11 million vehicles worldwide.

According to Automotive Industry concern, apart from the cheap price, the most important reason why the Hongguang MINIEV is so popular is that there were no competitors in the market at that time. In the past two years, more and more competitors of the same level have emerged in the Chinese auto market, including Chery QQ ice cream, Changan waxy corn, Dongfeng scenery MINIEV and Geely Panda mini. These models have the same positioning and similar prices as the Hongguang MINIEV, and with the gradual increase of competitors. Hongguang MINIEV is also difficult to make a breakthrough in its previous achievements.

Data show that the cumulative sales of Hongguang MINIEV in 2021 increased by 250.7% to 395500 vehicles compared with the same period last year; although sales reached 404800 vehicles in 2022, the year-on-year growth rate was only 2.4%, with a significant slowdown in growth. For comparison, Chery QQ ice cream grew by 661.3% year-on-year in 2022, and Changan Mercedes-Benz EV increased by 20.5%. In addition, A0-class electric cars such as BYD Seagull and Ola good Cats have piled up, which has also led to the gradual carving of Hongguang MINIEV market share. After entering 2023, Hongguang MINIEV sales were not as expected. The cumulative retail sales from January to April in 2023 were 87928, down 26.5% from last year's 119686, of which April sales were 18086, down 27.4% from the same period last year.

For Wuling, to achieve sales growth, it is obviously not enough to rely on Hongguang MINIEV alone. For this reason, Wuling has successively launched models including Wuling NanoEV, Wuling Air ev clear Sky and Wuling colorful fruit. Wuling Air ev is the first global car of Wuling new energy, which is based on global architecture and global concept and is positioned as a mini electric vehicle, which is higher than Wuling Hongguang MINIEV.

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Air ev officially launched on December 12, 2022, the Chinese name is "clear sky", a total of 4 models are launched, the price range is 6.78-82800 yuan, the power of the whole system is driven by a single motor, the maximum power of the two-seater motor is 30kW, the peak torque is 110Nm; the maximum power of the four-seater motor is 50kW, the peak torque is 140Nm, and the pure electric mileage under the CLTC is 300km. After listing, it mainly competes with Baojun KiWi EV, zero run T03 and small ants and other models. However, after the launch of the car, the performance of the car market was mediocre, with Fine Sky sales of 2527 vehicles from January to April 2023, including 632,941,592,362 from January to April, respectively, according to retail data.

As for whether "price reduction" can boost the growth of clear sky sales of Wuling Hongguang MINIEV and Wuling Air ev? The odds are yes! However, "auto industry concern" and "price reduction" may enable Wuling to achieve sales growth in a short period of time, but it cannot become the magic weapon for Wuling's long-term sales target growth.

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