On August 22nd, I was invited to attend the NETA V media communication meeting. The speaker was Chen Yinbin, Senior Director of UV Brand Department of NETA Automotive Brand Center, and he brought up some points that overturn the initial impression that people had of NETA V.
The Fastest 100K
It took 21 months for NETA V to reach 100,000 accumulative sales. However, the sales performance was achieved under the influence of unfavorable factors such as the epidemic, supply chain, and factory production capacity, so it is far from the best performance, and the next 100k sales will be faster.
In the first 7 months of this year, NETA V accounted for 12.5% of the pure electric vehicle market in the A0 segment, which is still a remarkable figure.
Among them, Chen Yinbin also mentioned that 97% of NETA V’s users come from the C-end, and more than half of them are female users.
Based on user needs, NETA V will launch various commercial versions, such as the previously launched NETA V Witch Edition.
NETA V’s Product Strategy
Regarding how NETA V achieved 100,000 sales quickly, it can be simply summarized into two aspects:
- “Using big to attack small”
On space, performance, and intelligence, NETA V uses superior size, power, and intelligence (L2 assisted driving + large screen) to compete with other models in the same class, achieving a dimensionality reduction attack.
- Being sensitive and responsive to user needs
For example, responding quickly to the needs of female consumers and quickly launching the NETA V Witch Edition. Chen Yinbin also mentioned that follow-up commercial versions will be launched based on the demands of consumers.
Overseas Markets
Chen Yinbin revealed that he is currently in Thailand because NETA V models are about to be launched in Thailand.
As early as September 2021, NETA V launched the right-hand drive version and officially appeared at the Bangkok Motor Show in March of this year. Currently, it is about to be launched in Thailand. Chen Yinbin is optimistic about the sales prospects of NETA V in Thailand.
Regarding the Southeast Asian market, Chen Yinbin mentioned that, using Thailand as an example, their pure electric vehicle market is equivalent to the level of China 3-5 years ago. NETA’s overseas expansion is seizing the opportunity, and the product has sufficient competitiveness after being tested in the domestic market.Before, Zhang Yong mentioned that NETA’s current strategy is “Entering Cities + Going Global”, the global strategy will not be limited to Thailand or Southeast Asia. However, considering that the demands for car models vary in each region, I speculate that NETA S will become the flagship product of NETA’s overseas market.
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.