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Do not sell less than 200000 cars! Li Xiang: more than 200000 of the share was eaten by the three car companies.

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


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On February 26th, ideal Motor founder, Chairman and CEO Li Xiang said at the fourth quarter and full-year earnings call of ideal Automobile in 2023 that ideal Automobile will not release less than 200000 models in the next five years, and it is expected that by 2030, in the market of more than 200000 household users, ideal will only occupy 1/3 to achieve more than one trillion in revenue.

In October 2018, ideal ONE, the first mass-produced model of ideal car, was released, delivered in December 2019, and stopped production and sale of ideal ONE in June 2023, officially retired from the historical stage. It is worth mentioning that, as the first model of the ideal car, the car is hot on the market. Retail data show that the ideal ONE sales from 2020 to 2022 are 32624, 90491 and 78791 respectively, and 9576 in 2023.

On June 21, 2022, ideal L9, the second mass production model under ideal Automobile, was launched. The new car was positioned as a large SUV with a price of 459800 yuan. On September 30 of the same year, the new generation of ideal ONE was named ideal L8. A total of two new models were launched with a price range of 35.98-399800 yuan. As a replacement product of the ideal ONE, in terms of product power, the L8 fully surpasses the ideal ONE, and the price of the new car is only 10, 000 yuan more expensive than the old ideal ONE (349800 yuan), while the top model is 50, 000 yuan more expensive; on the same day, the ideal L7 is also on the market at the same time, the new car launched a total of 2 models, the price range is 33.98-379800 yuan, the car in the large five-seat SUV, can be regarded as a smaller version of the ideal L8.

So far, ideal car products on sale include ideal L7, ideal L8 and ideal L9, and all three models are hot-selling products. Retail sales in 2023 show that the sales of the three models are 134100, 118000 and 114400 respectively. With three models, ideal Automobile will become China's first hundreds of billions of revenue new power car company in 2023. According to the financial report, the annual revenue of the ideal car in 2023 was 123.85 billion yuan, an increase of 173.5 percent over the same period last year; the net profit was 11.81 billion yuan, with a net loss of 2.03 billion yuan in 2022, making a full-year profit for the first time; and the gross profit margin was 22.2 percent, exceeding Tesla's 18.2 percent.

In this regard, Li Xiang said that in 2023, when the competition in the new energy vehicle market was fierce, ideal car achieved excellent results with three models of the ideal L series, and the annual delivery volume increased by 182.2% to 376030 vehicles compared with the same period last year. It has become the sales champion of new energy vehicles worth more than 300000 yuan in the Chinese market, achieving the best financial performance in history.

It is worth mentioning that the ideal car will also face a strong competitor in 2024. Official figures show that from February 1 to February 25 this year, the ideal car sold 16200 vehicles, compared with 17000, a difference of 8000 vehicles. According to the data, the ideal car may miss the top spot again in February. The previous January, the ideal car's top-selling position had been taken away by Q & A, with sales of 32973 and 31165.

In order to grab more market share, ideal car will launch a number of products this year, including four extended range and four pure electric. "2024 will be an unprecedented product year for ideal cars," Li said. "in March, the ideal MEGA will be released and delivered. In the same month, the 2024 ideal L7, ideal L8 and ideal L9 will also start large-scale customer delivery." And reiterated: "the ideal car in 2024 will continue to challenge the annual delivery target of 800000 vehicles."

From the price of the three models that have been laid out by ideal car at present, the prices of the three models are all at the level of 300000. In fact, as early as January 2023, Li Xiang made it clear that there would be no models less than 200000, and said: "the ideal L9 will stick to the 40-500000 price range, the ideal L8 and ideal L7 will stick to the 30-400000 price range, and the ideal L6 and ideal L5 will stick to the 20-300000 price range."

In this earnings call, Li would like to reiterate that the ideal car will not release less than 200000 models in the next five years. It was previously reported that the price of the ideal L6 model launched this year will be less than 300000 yuan, and the price of the ideal MEGA model will be less than 600000 yuan.

So why doesn't the ideal car sell less than 200000 cars? Li would like to explain: "by 2030, 35 per cent of China's household users selling for more than 200000 will be trillions, and if we win some more overseas markets, we will be able to exceed iPhone's global peak turnover."

At the same time, Li said on moments that more than 200000 of the new energy vehicle market in the fourth quarter of this year will be the result of the top three brands eating 70 per cent of the market share. And point out that it will be more concentrated than fuel-fueled cars and no different from smartphones.

In short, Li Xiang believes that three car companies will account for more than 200000 of the new energy market this year, although Li did not disclose who the three car companies are. So, who do you think these three head brands will be?

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