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Xiaopeng was exposed to require dealers to reserve inventory! Official response

2024-04-13 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/08 Report--

Recently, "later Auto" media reported that Xiaopeng recently began to require dealers to stock up. A number of dealers have revealed to the media that the stock requirement is to purchase half of the vehicles with target sales every month.

In addition, there are informed sources revealed that with regard to the purchase of vehicles, actually in December last year, Xiaopeng began to require dealers to purchase vehicles from Xiaopeng to store inventory. At the same time, at the Xiaopeng dealer investor conference in February this year, Wang Fengying, president of Xiaopeng Automobile, also said: "in the past, some dealers sold cars of multiple brands at the same time, while other brands were in stock. If Xiaopeng does not give dealers some inventory pressure, they may not sell Xiaopeng fully."

In response to the news, Xiaopeng official responded today: the news is true, allowing dealers to reserve inventory for half a month is to faster delivery, improve efficiency, so that dealers have cars to sell. Domestic dealers generally use two months of inventory, half a month inventory is not a pressure on the warehouse, but our "direct marketing + distribution" mixed innovation model. It is understood that Xiaopeng adopted the direct operation mode at the beginning of its establishment, and opened the dealer to join the model in 2019. Last year, it was reported that Xiaopeng had adjusted its organizational structure and adopted the mixed mode of "self-building direct operation + authorized dealer joining" on the terminal network.

In fact, Xiaopeng's current adjustment of dealers may have something to do with the recent price war and the poor performance of Xiaopeng in the market in recent years.

As we all know, Xiaopeng's sales in the first half of last year were the brands with the worst decline on the New Power brand delivery list. Data show that Xiaopeng's car sales in the first half of 2023 were 41435, down 39.93% from the same period last year. To this end, Xiaopeng Motor has also carried out several organizational structure and personnel adjustments. In addition, many new models have been launched. On June 29 last year, Xiaopeng launched Xiaopeng G6. The new car positioning medium-sized pure electric SUV, a total of 5 models, the price range is 20.99-276900 yuan. As soon as Xiaopeng G6 came on the market, it was successfully sought after by the market, bringing a boost to Xiaopeng car sales. Statistics show that Xiaopeng G6 sold a total of 44545 vehicles last year.

Although Xiaopeng has made a series of urgent adjustments, the overall sales performance of Xiaopeng still lags behind other new car-building forces last year. According to the data, Xiaopeng sold 141601 vehicles in 2023, compared with 376030 ideal cars in 2023, an increase of 182.21 percent over the same period last year, while Lulai sold 160038 vehicles, an increase of 30.66 percent over the same period last year.

With the rise of the price war, the situation of Xiaopeng car has become more and more passive and has to follow up with the price reduction. In January, Xiaopeng officially launched Xiaopeng P7i discount promotion, the purchase of Xiaopeng P7i entry version of the model, limited time discount of 15000 yuan, after the discount price of 208900 yuan. If you buy the P7i Pengyi performance version, you can enjoy a time-limited subsidy of 50, 000 yuan, and the price is as low as 289900 yuan after the discount. In February, officials launched a huge Spring Festival event for Xiaopeng G6, with a cash discount of 20, 000 yuan, down to 189900. However, the official promotion campaign has had little effect. Figures show that Xiaopeng's sales fell 59 per cent month-on-month to 8250 in January. Xiaopeng's sales halved to 4545 in February, down 44.9 per cent from the previous month.

In this context, Xiaopeng Automobile requires dealers to stock inventory is also easy to understand. In this regard, some industry insiders pointed out that although Xiaopeng's move can quickly withdraw funds and improve sales. However, dealers will also bear certain risks, bring financial pressure, or dampen the enthusiasm of dealers. However, it is understood that Xiaopeng Automobile has also made corresponding sales policy adjustments in order to improve the enthusiasm of dealers. For example, the base rebate was cut by 1 percentage point, while the incentive commission was raised by 0.5 percentage point. Dealers who complete the bimonthly assessment get at least a 5.5% commission on the total car price.

Of course, whether Xiaopeng's move can promote sales in the end remains to be proved by subsequent events. According to earlier official planning, the annual sales target for this year is expected to exceed 280000, which means that about 23000 new cars need to be delivered every month. As a reference, Xiaopeng aims to sell 200000 vehicles in 2023, with an annual sales completion rate of 70 per cent.

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