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Sales continue to be poor! Cyrus sales announcement in June

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


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Today, Cyrus released production and sales of KuaiBao in June 2023. Data show that Selis sold 18754 vehicles in June, down 27.04% from the same period last year. Cumulative sales from January to June were 92163, down 26.66 per cent from a year earlier. Among them, sales of Selis new energy vehicles in June were 9348, down 24.72 per cent from a year earlier, and sales of Selis cars were 5668, down 25.99 per cent from a year earlier. Selis accumulated sales of 25761 vehicles from January to June, up 19.37% from a year earlier.

In terms of production: Selis produced 16430 vehicles in June, down 26.76 per cent from a year earlier. The cumulative output in the first half of the year was 91487 vehicles, down 26.8% from the same period last year. Among them, the output of new energy vehicles in June was 8287, down 27.99% from the same period last year, while Selis produced 5170 vehicles in June, down 26.63% from the same period last year.


It is worth noting that sales of Selis's intersecting brand have been low since 2023. According to the data, the retail sales of AITO from January to May in 2023 were 4469, 3512, 3625, 2437 and 4083 respectively. In addition to poor sales, Cyrus's financial results are not satisfactory. According to the official 2022 financial report, Selis's operating income in 2022 was 34.105 billion yuan, an increase of 104.00% over the same period last year, of which the revenue from new energy vehicles was 24.934 billion yuan, up 482.8% from the same period last year, accounting for 73.1% of the company's operating revenue. The net loss was 3.822 billion yuan, compared with 1.824 billion yuan in the same period. Deducting the non-net loss of 4.296 billion yuan, and the net loss of 2.793 billion yuan in the same period.

As for the losses in 2022, Cyrus said: production costs rose in 2022 due to the sharp rise in the prices of raw materials such as chips and power batteries. Although the sales volume has achieved continuous positive growth in the first-third quarter, the passenger flow into the store and marketing activities are limited, affecting the supply, logistics, production and many other links, product production and sales volume did not meet expectations. In addition, the previous investment in fixed assets is larger, depreciation and amortization expenses are higher, resulting in increased losses.



In addition, according to the financial results released by Cyrus in recent years, Selis's losses continue to increase after its further cooperation with Huawei, and Selis has lost more than 10 billion yuan in the four years from 2019 to 2022. The deduction of non-net profit is-884 million yuan in 2019,-2.308 billion yuan in 2020,-2.793 billion yuan in 2021 and-4.296 billion yuan in 2022. Selis has said that the increase in loss is mainly due to the transformation of the new energy vehicle market. Marketing expenses, soaring R & D costs and team expansion.

It is not difficult to see that even with huge losses, Cyrus is determined to build cars in cooperation with Huawei. According to an "internal letter to all partners" released by AITO, Cyrus and Huawei jointly decided to set up a "Joint working Group on AITO sales Services", which will be fully responsible for the end-to-end closed-loop management of marketing, sales, delivery, service, channel and other business from July 1, a move interpreted by the outside world as a further strengthening of Huawei's right to speak on the trademark. In this regard, on the afternoon of July 2, the relevant responsible person of Huawei responded that the establishment of a working group had nothing to do with the right of both sides to speak, and was aimed at improving the customer service experience and improving the management of channel services as a whole.


At present, AITO has three models on sale: M5, M5 EV and M7, of which M5 is the main source of sales. In the first quarter of 2023, AITO's retail sales totaled 11615 vehicles, of which 7322 were sold in the M5 and 4293 in the M7. According to the official news, a new M9 model will be released at the end of this year. It is understood that the car is located in a medium-and large-sized SUV, with an expected price range of 50-600000 yuan. The M9 will also be the most expensive model in the series. Huawei Yu Chengdong has said that he is confident that the M9 will become the most luxurious, high-end and smart car on the market.


There is no denying that the cooperation between Cyrus and Huawei is successful. Cyrus's popularity has also been raised after partnering with Huawei, but the AITO brand is over-reliant on Huawei and is almost built by Huawei. Although there is no strict boundary between the body and soul of a car, from another point of view, who does the most technical and profitable part means the soul. Cyrus uses Huawei technology to achieve corner overtaking, and all the models sold are built by Huawei, whether it is Huawei Hongmeng cockpit or Huawei Drive ONE pure electric drive extended range platform, online and offline sales channels and core components are inseparable from Huawei's support.

In addition, since Huawei CEO Ren Zhengfei stressed in March that Huawei / HUAWEI cannot be used in vehicle promotion and appearance, it has more or less had an impact on AITO sales. As we all know, the earlier announcements are basically bound to HUAWEI for publicity, if the AITO brand fades the aura of Huawei, Cyrus will immediately show its original shape. In addition, as the price of the car market becomes more and more popular, Cyrus will be in a more and more disadvantageous position and will face a new round of tests.

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