On December 31, 2021, the four departments of the Ministry of Finance issued the subsidy policy for new energy vehicles in 2022: the national subsidy standard for new energy vehicles in 2022 will be reduced by 30% on the basis of 2021. On January 11, 2022, Xiaopeng Motors announced that the guidance price of the P7, P5 and G3i models on sale has been raised as a whole, ranging from 4300 yuan to 5900 yuan. Among them, the starting price of the main model Xiaopeng P7 after the price increase is 224,200 yuan.
The specific change brought about by the subsidy policy is that the national subsidy policy in 2021 is a subsidy of 13,000 yuan for a cruising range of 300-400 kilometers, and a subsidy of 18,000 yuan greater than or equal to 400 kilometers. In contrast, under the national subsidy policy for new energy passenger vehicles in 2022, the pure electric vehicle model with a pure electric mileage of 300-400 kilometers is subsidized by 0.91 million yuan, and the pure electric vehicle model with a pure electric mileage of 400 kilometers or equal to 400 kilometers and priced at less than 300,000 yuan is subsidized by 12,600 yuan.
The price increase of Xiaopeng Automobile involves most of the Models of Xiaopeng P7, all models of P5 and all models of G3i. Among them, only the P7 Pengyi Version, P7 Performance Edition, and P7 Pengyi Performance Edition, which are priced at more than 300,000 models, are not affected by the subsidy decline and remain unchanged at the original price.
After the price adjustment on January 11, the Xiaopeng P7 car series rose by 4300 yuan to 5900 yuan, the new price range was 22.42-40.99 million yuan, the Xiaopeng P5 series rose by 4800 yuan to 5400 yuan, the new price range was 16.27-22.93 million yuan, the Xiaopeng G3i series rose by 4800 yuan to 5400 yuan, and the new price range was 15.46-19.32 million yuan.
It is worth mentioning that Xiaopeng Automobile has performed well in the past 2021, with 16,000 units delivered in December, an increase of 181% year-on-year, and the annual delivery volume in 2021 reached 98,155 units, an increase of 263% year-on-year. Among them, the flagship sedan P7 delivered a total of 60,569 units throughout the year. The subsidy decline may have an impact on the sales of Xiaopeng Automobile, and whether it can make up for changes in the policy environment by relying on strength and continue to maintain sales growth is a problem that Xiaopeng must face.