Today, LINGPAI’s sales figures for July were released. LINGPAI received 6,540 orders in July, a MoM increase of 59%; and delivered 4,404 vehicles, a YoY increase of 666% and a MoM increase of 12%.
Among them, the T03 model received 6,125 orders in July, a MoM increase of 63%; and delivered 4,283 vehicles, a MoM increase of 14%.
It can be seen that the T03 model has contributed significantly to LINGPAI’s sales. In July, 93.6% of LINGPAI’s orders were for the T03 model, and 97.2% of the delivered vehicles were T03s.
However, as the C11 model, a popular mid-size SUV, has not yet been formally delivered, it is worth noting that LINGPAI has only officially delivered the T03 micro-electric vehicle and the S01 small sports electric car.
Due to its more cost-effective price and suitability for “second family cars”, the T03 model’s important position in LINGPAI’s sales could have been expected.
Comparing with NIO and Xpeng’s sales, the LINGPAI T03 model currently has sales figures that can rival the top tier of domestic new energy vehicle manufacturers, although its average vehicle price is not yet comparable. At the same time, we can see that LINGPAI’s order volume exceeds its vehicle deliveries, which may be due to its current capacity constraints.
On July 20th, LINGPAI announced its new 2.0 era and established its own factory in Jinhua. Its founder, Zhu Jiangming, stated that the annual production capacity of LINGPAI’s Jinhua factory can reach 200,000 vehicles at maximum capacity. In addition, in the pre-IPO round of financing, the Hangzhou municipal government invested 3 billion yuan, which also means that LINGPAI’s second-phase factory has a great chance to settle in Hangzhou. We speculate that LINGPAI is building its own factory to not only lay out its future electric vehicle market strategy but also increase its production capacity for the future development of the brand.Although on the total list of new energy vehicle insurance numbers in June seen on the 42 Garage website, the Lynk&Co T03 could only rank 14th. Currently, it is not as good as its opponents such as Wuling Hongguang MINI EV, Changan Benben, Ola Black Cat, and Chery Little Ant in the micro-car market. However, in March of this year, when the Lynk&Co T03 first appeared on the total list, only 1,995 of its vehicles were insured, ranking 20th. By June, it had surpassed many other more highly-ranked “players.” The development of its sales data shows that Lynk&Co is making effort to catch up with its predecessors and competitors.
As of August 1st, 2021, Lynk&Co has sold a total of 26,148 cars this year, whereas its sales in the whole of 2020 were only 11,391. After announcing a new 2.0 era, Lynk&Co achieved a good selling point with a significant increase in both YoY and MoM sales. When the more popular Lynk&Co C11 is officially delivered, Lynk&Co’s sales data should see even greater growth.
Source: LINGAKE Automotive
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.