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Weilai "service rights and interests" major adjustment!

2024-04-24 Update From: AutoBeta NAV: AutoBeta > News >

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On January 25th, Xilai released the 2024 version of worry-free service products. The biggest change of this adjustment is the binding of insurance and service fees, using the car insurance + service charging model, which is divided into premium version, enjoyable version and light version, with prices of 4999 yuan / year, 1399 yuan / year and 499 yuan / year respectively. Compared with the previous version, the core change is the cancellation of maintenance points and the reduction of value-added service vouchers. It is reported that the 2024 version of worry-free service will be launched on February 20.

Many users believe that the 2024 version of worry-free service products have shrunk compared with the previous version. Li Bin, founder of Weilai and CEO, also said bluntly at the user communication meeting of worry-free service products that this iteration would satisfy 90% of users and 10% of users might feel unfair. "We need to be careful this year, and the general direction of Weilai this year is cost management," Li Bin said. after the acquisition of an insurance agency, after converting all the rebates into the cost, the light version and the happy version can make some money, but the premium version is not necessarily the top version. The previous service is sure to be at a loss, and if the user base is large, it is really difficult to sustain. "

Li Bin explained the reasons for the iteration of worry-free service in 2024, including: different users have different mileage. Previously, worry-free service products were unfair to some users. 90% of users are satisfied with this iteration, and 10% of users may feel unfair. In addition, worry-free service has always been a loss-making business, which is caused by many reasons, partly because the rule-making of Weilai is not reasonable, and users have formed some holes in the service of compliance.

This iteration introduces an entry-level version of worry-free service, which is suitable for more users who use less cars. Under the premise of ensuring the service quality, the service items have been adjusted. In response to the user's question of "whether the service can not change substantially every year," Li Bin responded that it is impossible to do so, and it should be adjusted according to the operation situation every year. At the same time, Li Bin stressed: "although some of the service rights and interests have been cut, the service of Weilai is still incomparable in the industry."

In addition, Weilai also announced that it will launch a high-speed electricity change service fee-free activity during the Spring Festival (2.8-2.18).

As a major "customer-oriented" car company, high-end service experience has always been one of the core competitiveness and differentiation, but also where the confidence of product premium lies. Several users said that although the price of worry-free service is about 5,000 yuan higher than that of insurance, because it can provide one-button maintenance, car delivery, car wash, parking and other services, "it is really convenient, so I will always buy it."

Because of this, there is no lack of abuse of worry-free services. However, behind this "sea bottom fishing" service, with the increase in the number of users, in order to maintain service standards, it needs to invest more manpower. And this is bound to face more and more financial pressure.

At the same time, a series of actions such as R & D expenses and expanding new business have put great pressure on Lulai Finance. In the first three quarters of 2023, the total net loss of Weilai reached 15.656 billion yuan, exceeding the loss for the whole year of 2022. In the case of no significant increase in sales, Weilai has always been on the road of "change".

In 2023, a total of 160000 vehicles were delivered, an increase of 30.7 per cent over the same period last year and only 65 per cent of the annual sales target of 245000 vehicles. On December 5, 2023, Li Bin said on the third-quarter earnings call that if Lulai were made entirely independently, manufacturing costs would be reduced by 10%.

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