9 months loss of 3.58 billion! Xiaopeng Automobile, which wants to rely on the G9 to fight the world, is deeply involved in the "fraudulent insurance" storm

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In the first three quarters of this year, under the premise of a substantial increase in revenue, the company's net profit has suffered a large loss, and even the loss continues to increase, and the company is expected to achieve breakeven in the next two years.

However, at the time of the listing of the company's new car G9, it suffered consumer complaints, and the company fell into the quagmire of yin and yang contracts and insurance fraud.

The cumulative loss in the first three quarters was 3.58 billion

Recently, Xiaopeng Automobile, a new energy automobile manufacturer, released the third quarter report showing that during the reporting period:

Xiaopeng Automobile's total revenue was 5.72 billion yuan, an increase of 52.1% month-on-month and a sharp increase of 187.4% year-on-year;

Among them, the sales revenue of automobiles was 5.46 billion yuan, up 187.7% from the same period in 2020 and 52.3% from the second quarter of 2021.

Although the revenue of Xiaopeng Automobile has increased significantly, even more than doubled year-on-year, it is still in a state of increasing revenue without increasing profits, and even the loss is still expanding.

In the third quarter, Xiaopeng Automobile achieved a net profit loss of 1.595 billion yuan, an increase of 38.4% from the net loss of 1.15 billion yuan in the same period of the previous year, and the market expected a net loss of 1.177 billion yuan. The data shows that in the first three quarters, Xiaopeng Automobile accumulated a loss of 3.58 billion yuan.

According to the financial report, in the third quarter:

Xiaopeng Automobile's gross margin was 14.4%, compared to 11.9% in the second quarter. Auto gross margin (i.e. gross profit from auto sales as a percentage of auto sales revenue) was 13.6% for the third quarter of 2021, compared to 3.2% for the same period in 2020 and 11.0% for the second quarter of 2021.

He Xiaopeng, CEO of Xiaopeng Motors, said on the earnings call that Xiaopeng Motors will strive to overcome the chip shortage and the challenges caused by the epidemic in some regions in the fourth quarter, and it is expected that the total number of deliveries of Xiaopeng in the fourth quarter of 2021 will be 34,500 to 36,500 units, and the total revenue will reach 7.1 billion to 7.5 billion yuan.

Can G9 salvage the net profit loss?

In fact, since the beginning of this year, Xiaopeng Motors has opened a "sell, sell and sell" model, with Xiaopeng Motors delivering 25,666 units in the third quarter, a new quarterly high and up 199.2% from 8,578 units in the same period in 2020, and 47.5% from 17,398 units in the second quarter of 2021.

From January to October this year, Xiaopeng Automobile delivered a total of 66,542 vehicles, an increase of 289% year-on-year.

At the end of October, the cumulative delivery volume of Xiaopeng Automobile exceeded 100,000 units. According to the latest data, the total delivery volume of Xiaopeng Automobile in November was 15,613 units, achieving a single monthly delivery of more than 10,000 units for three consecutive months, an increase of 54% month-on-month and a year-on-year increase of 270%.

On the basis of the record total delivery, the delivery scale of Xiaopeng Automobile's three models on sale, P7, G3i and P5, also reached a new high in November. thereinto:

Xiaopeng P7 delivered 7839 units, an increase of 30% month-on-month;

Xiaopeng G3 series products delivered 5620 units, an increase of 54% month-on-month;

In October, the Xiaopeng P5 was launched to deliver 2154 units.

Xiaopeng Automobile said that the company's fourth new model, the smart flagship SUV Xiaopeng G9, has been officially unveiled and plans to start delivery in the third quarter of next year.

Gu Hongdi, vice chairman and president of Xiaopeng Automobile, said:

Xiaopeng Motors aims to deliver half of its deliveries in China and half from overseas, and expects to break even within 2 years.

But whether the newly listed G9 is welcomed by the market, and whether it can bring new profit growth points to the company is still unknown?

The price before and after delivery is different, suspected of "cheating insurance"?

However, under the opening of the "selling, selling and selling" model of Xiaopeng Automobile, the company has fallen into a "fraudulent insurance" storm.

According to Jiangsu TV, a Nanjing consumer chose to buy a Xiaopeng P7, negotiated the price with the distributor and paid a deposit of 5,000 yuan and signed a car purchase agreement. However, when going to the store to pick up the car, the 4S shop asked Mr. Chen to increase the price by 7,000 yuan before he could pick up the car.

The sales director of Xiaopeng Automobile Nanjing Jingfeng Store said that it involves the issue of state subsidies, he said that if the price of the vehicle exceeds 300,000, he will not get the state subsidy, so the cars sold here are first to make a low contract price, control the price below 300,000, and then make up the price. Maybe that's where you need to pay an extra $7,000 to deliver the car.

In response, Xiaopeng Motors said:

After verification, the store clerk did not clearly understand the relevant promotion policies in November during the communication process with the customer, resulting in misunderstanding of the customer, and in the follow-up processing process, the customer did not solve the problem in time. In this regard, Xiaopeng Automobile sincerely apologized for the inconvenience and trouble caused to the customer. In the future, Xiaopeng Automobile will standardize the store sales and delivery process, strengthen the training of store personnel's professional knowledge, and bring better services to users from the sales end and delivery end.

At present, the national new energy subsidy policy is to enjoy subsidies for pure electric vehicles with a price of no more than 300,000 yuan before subsidies: models with a cruising range greater than or equal to 300km and less than 400km are subsidized by 13,000 yuan, and models with a cruising range greater than or equal to 400km are subsidized by 18,000 yuan.

For the "yin and yang contract" questioned on the Internet to defraud the state of new energy subsidies, Xiaopeng Automobile does not have any statement.

Disclaimer: This article is for knowledge sharing only, just to pass on more information! This article does not constitute any investment advice, and any person making investment decisions accordingly is at your own risk.