Author: Tao Yanyan
Annual Inventory of Domestic Auto Companies
(1) Always in the limelight: NIO
We bought the Xiaopeng P7 when it was first released, so we reviewed Xiaopeng’s 2022 performance with the perspective of a car owner. In 2022, Xiaopeng delivered a total of 120,757 vehicles, a 23% increase from the previous year. From the first delivery to December 31, 2022, Xiaopeng has delivered a total of 258,710 vehicles. In 2023, Xiaopeng’s boss He Xiaopeng revealed that they will release five new and updated models, including the updated P7, G3, and P5, with the new models being a coupe SUV and MPV.
Here we review Xiaopeng’s performance and explore their upcoming challenges in terms of products, including the challenges brought about by price reductions.
The G7 will be Xiaopeng’s most important product in 2023. Like the P7, the G9 is a very accurate product positioning — differentiated from Tesla’s Model 3 and Model Y, with both sides attacking and defending on intelligence, and more creativity in interior and exterior design. However, the dilemma for the G7 now is that it needs to be impressive enough to attract customers, but its price is currently sealed by the Model Y before it is even launched. This is currently the key issue concerning how Xiaopeng will break the deadlock.
Review of Xiaopeng’s 2022 Sales
Xiaopeng’s independent development of autonomous driving technology is the starting point of its intelligent label. Although the final product was amazing when it was first released, this starting point overlooked the basic principle of vehicle customer positioning, which ultimately led to a divided product and brand, as well as a relatively scattered customer base.
The competitive landscape that Xiaopeng’s products must face is fierce:
◎G9 competes with NIO and Ideals flagship products;
◎P7 and Tesla Model 3 and BYD Han EV compete for customers;
◎P5 and G3 directly compete with BYD.
Xiaopeng’s current products are mainly centered around the P7, while the P5, which was supposed to have mass appeal, did not become the foundation of the pyramid (it’s a pity, as the appearance is a little mediocre). Therefore, the product strategy for 2023 is to let G7 and P7 find their own space along the market that Tesla’s Model Y and Model 3 have opened up. Other ideas, such as equipping family sedans with automated driving assistance, are a bit too idealistic in terms of technology.
In the first half of 2022, Xiaopeng’s highest moment was delivering 5,000 units in a single week. However, in the second half of the year, Xiaopeng faced difficulties because of the pressure on its model matrix in the market as P7 sales weakened. G9 faces the challenge of having a low starting price while also lifting the brand up. This is difficult for a car model that takes longer to gain popularity.
From the data, we can see some problems:
◎Consumers who buy cars priced under 200,000 RMB pay a lot of attention to appearance design and cost performance, and arming these types of cars with a technological feel does not work well (as it makes them appear more expensive).
◎For cars priced over 350,000 RMB, there cannot be any shortcomings. It is difficult to stand out by relying on only a few selling points, such as 800V+automated driving. Especially with NIO and Ideals intelligent development, the three companies do not have any significant differences, making it difficult for G9, which was expected to be popular, to succeed.
◎P7, such a car model, needs energy to update and maintain. P5’s Lidar has hurt P7’s potential customers. The combination of technology and car models has not resulted in success, but has instead hurt the incremental relationship of the car model.
## Advantages and Disadvantages of Xiaopeng and Prospects for 2023 Xiaopeng's advantage is actually deep learning Tesla. In terms of intelligentization of automobiles, intelligent auxiliary driving has been fully opened through city NGP in Guangzhou. In order to compete for the title of "the first domestically produced high-level intelligent auxiliary driving in urban scenes", Xiaopeng chose to land on P5. This decision can be said to have its advantages and disadvantages. The advantage, of course, is to prove that their strength in the field of autonomous driving has reached the world's leading level, and even achieved some leading positions in some subdivided scenarios. At the same time, Xiaopeng has also made many design attempts in intelligent driving and intelligent cockpit to establish a sense of trust between man and machine. For example, the instrument SR intelligent auxiliary driving environment simulation display added the signal of the side turn signal, the vehicle drivable area guidance surface, and the turning point prompt. However, this also confuses the matching between vehicle models and technical configurations. P5 can be played at a high level, but P7 doesn't even have a lidar. How can consumers recognize it? ![▲ Figure 5. Xiaopeng's intelligent driving and intelligent cockpit development are still very distinctive.](https://42how-com.oss-cn-beijing.aliyuncs.com/article/image_20230203180559.png) There is also a deviation in Xiaopeng's understanding of the value of technology and market value. From the perspective of the automaker, Xiaopeng's achievements are remarkable: ◎The first to use 800V SiC; ◎The first to use 480kW fast charging piles; ◎The first to use 3C and 4C cells for mass production. But these achievements of automakers have no practical significance for consumers (other automakers will soon catch up). What consumers see is that Xiaopeng's cars still lack L9 and ES7. After selecting all the configurations, the prices are similar, but how to make up for the gap between this model? Automakers must consider the ideas of customers, rather than just burying their heads in the technology (although we admire this kind of technology-based company, the company), even if Tesla has no other way but to reduce the price. **Conclusion: When Xiaopeng Automobile first released P7, it was a bit like a low-end (high cost-effective), localized Tesla-this is also one of the reasons why we chose to be early P7 owners. But today, Xiaopeng's sales lack heat compared to Tesla. In a sense, Xiaopeng Automobile's development has encountered problems similar to those of Tesla in advance. We hope Xiaopeng Automobile will get better and better in 2023. I really want to change to G7, waiting for it!**
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This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email email@example.com.