Xiaopeng Motors has also joined the price war!
On January 17, Xiaopeng Motors officially announced a price adjustment, involving the G3i, P5, and P7 models, with a drop of up to 36,000.
Xiaopeng is also the second car company in China to officially announce a price cut after Tesla's price cut. Unlike Tesla's simple and rude price cuts, Xiaopeng Motors is also the same as the previous price cuts, making up for the rights and interests of car owners who have suffered losses.
The first car owner who ordered G3i/P5/P7 within the previous year will also be rewarded with Spring Festival rewards at the same time. Specifically, the vehicle warranty will be extended to 10 years or 200,000 kilometers, and 4 years of basic maintenance will be given as a gift.
This is exactly the same as the operation of Wenjie to send points to send maintenance. Obviously, after seeing the incident of Tesla's rights protection, car companies even seem to be deliberate in reducing prices.
In fact, shortly after Tesla’s price cut, someone asked Xiaopeng Motors whether it would follow up with price cuts. The insiders of Xiaopeng Motors replied that Xiaopeng Motors has its own sales rhythm and will determine product prices and promotional activities according to its own situation. Instead of following other car companies.
Sure enough, under the situation that Tesla's "price reduction" has changed to "big promotion", Xiaopeng Motors can't sit still.
01 200,000-250,000 hand-to-hand combat
First look at the price reduction details of Xiaopeng:
The price of Xiaopeng P5 has dropped from the original 179,900 to 225,900 yuan to 156,900 to 202,900 yuan, a reduction of 23,000 yuan.
The price of Xiaopeng G3i has been adjusted from RMB 168,900 to RMB 201,900 to RMB 148,900 to RMB 176,900, a decrease of RMB 20,000 to RMB 25,000. Among them, the 460N+ and 520N+ versions dropped by 25,000 yuan, and the 460G+ dropped by 20,000 yuan.
As the sales manager of Xiaopeng Motors, the adjustment of Xiaopeng P7 is the largest this time.
The price of the P7 dropped from 239,900 to 285,900 to 209,900 to 249,900, and the price dropped by 30,000 to 36,000 yuan. The 480G, 480E and 586G versions all dropped by 30,000 yuan, and the long-endurance version 625E dropped by 36,000 yuan. , The price of 249,900 is very cost-effective.
Currently, the price of Xpeng’s flagship model, the G9, remains unchanged.
In fact, after the announcement was made, many people said that Xiaopeng just changed from "dark surrender" to "bright surrender". Because before this, the terminal has already started to reduce the price in different ranges. For example, the whole series of Xiaopeng P5 terminal has a discount of 18,000 yuan, and the discount rate of P7 is even larger, at about 25,000-30,000 yuan. Although the G9 was launched not long ago, its terminal The discount can also reach 5,000 yuan.
It is worth noting that the poster for the price adjustment of Xiaopeng Motors this time was complained by netizens for "repeating the same mistakes". Netizens accused the display of this announcement still exposing the problem of the cumbersome SKU entries of Xiaopeng models, which caused new users to not know how to choose a model for a while.
In this price reduction, Xiaopeng's main model P7 has the highest price adjustment. Correspondingly, its best-selling configuration models have come to a price range of around 230,000.
This is a deep-water area for new energy sales. In the price range of 200,000 to 250,000 yuan, BYD has the absolute right to speak. Led by BYD Han and Haibao, they are also responsible for the sales of this market segment.
In addition, the zero-run C01, which is also a new force, cannot be ignored. It is worth mentioning that at the same time as Xiaopeng's official resignation, Leapmotor launched a limited-time preferential car purchase policy for the "New Year's Gift" for the C01 model. Users who place an order and pick up the car within the announced time can enjoy the policy of 5,000 yuan to 30,000 yuan. This operation is actually a discount of 25,000 yuan in disguise.
Everyone knows the biggest reason for Xiaopeng Motors' official resignation this time.
On January 6 this year, Tesla announced a price cut for both Model 3 and Model Y, with a maximum drop of 48,000 yuan.
The starting price of Model 3 dropped from 265,900 yuan to 229,900 yuan, a price cut of 36,000 yuan, and the starting price of Model Y dropped from 288,900 yuan to 259,900 yuan, a price cut of 29,000 yuan.
After Tesla's price cut, it will directly compete with models such as BYD Seal, Leap C01 and Xpeng P7.
And from the price point of view, after Tesla's sharp price cuts, Xiaopeng Motors has lost its price advantage. After the price reduction of Tesla Model 3, the starting price was lowered from 265,900 yuan to 229,900 yuan, which is already lower than the original starting price of 239,900 yuan for Xiaopeng P7.
Considering the factors of product appeal and price, consumers naturally prefer Tesla. So for the current Xiaopeng Motors, price reduction may be one of the few options.
Now after Xiaopeng’s price reduction, the price of the main model Xiaopeng P7 has dropped to 209,900 to 249,900 yuan, and it continues to maintain a price advantage with Model 3.
In terms of sales volume, Xiaopeng Motors, the "sales champion" in 2021, will only deliver 120,757 vehicles in 2022, which is not as good as Nezha, Ideal and Weilai, and the completion rate of the annual sales target is only 48.30%.
The sluggish market sales, especially the sluggish performance of the flagship model Xpeng P7 and the flagship model G9, also paved the way for price cuts.
After this price cut, Xiaopeng will also start to participate in the competition with traditional car companies.
Interestingly, Xiaopeng recently recruited a traditional leader to join the group——Wang Fengying, the former president of Great Wall. Although Xiaopeng officials did not directly confirm the joining information, many people in the industry believe that the news has a high probability it is true.
02 The wave of price cuts is bound to come
Tesla's price cuts and promotions have given a blow to new energy car companies that have recently withdrawn from price increases or parity sales due to state subsidies.
Although there were incidents of consumer rights protection after the price cut, the terminal performance was immediate. Chaodian Lab learned that the number of passengers and orders at Tesla stores in second- and third-tier cities has surged after the price cuts, and even the number of orders at stores in some cities has increased by 500% from December to December.
Moreover, Tesla’s price cuts are not limited to China. In just two weeks, Tesla has announced price cuts in more than a dozen countries around the world, with a maximum drop of 30%.
Taking the US market as an example, Tesla lowered the price of Model 3/Y models. If the subsidy policy given by the US is included, the price reductions of the two models are as high as 26% and 31%.
In addition to the US domestic market, Tesla has also lowered the prices of European models, ranging from 1% to 17%.
Returning to China, due to the "catfish effect" of Tesla's price cuts, Wenjie Automobile followed closely and became the first new energy brand to follow up and start a price war.
Some models of Wenjie M5 EV and Wenjie M7 have an overall decrease of 28,800 to 30,000 yuan. Different from Tesla, Wenjie Motors has provided corresponding compensation plans for old car owners.
Now Xiaopeng Motors is also following suit, becoming the second new energy car company to announce its downgrade.
Tesla's price cuts have already disturbed the market. Other new energy brands have changed from holding prices on the sidelines to following the trend to cut prices, which shows the lethality of the "price war".
However, price reduction is still feasible for Tesla, which can sacrifice profits in exchange for market share, but not all car companies can fight price wars.
Tesla's gross profit margin was once as high as 32.9%, while BYD's gross profit margin was around 17%.
In the real price war, car companies with deep blood can still resist the first resistance, but those car companies with low profits or even losses are the ones that are really hurt.
Therefore, some netizens ridiculed car companies for cutting prices: "Tesla cuts prices because it has money but no attitude, Huawei has money and attitude, and Xiaopeng Motors has the worst attitude when it has no money."
But for many car companies, in the face of Tesla's gunfire, they have to fight.
After Xiaopeng, more car companies will join the price war.
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