"Brand new car 5.x fold Polar Star 2, the owner recommends a reliable channel", in a second-hand platform search for Pole Star 2, there will be a lot of such news. The words of temptation, the astonishing discount, can't help but produce the illusion of untrustworthiness.
But this is true.
"This batch of cars is mainly the first version of the Polar Star 2 produced from June to October 2020, and it is all taken directly from the manufacturer." Li Fan (pseudonym), an auto dealer owner, told Auto Market Monogatari, "These vehicles can enjoy normal after-sales service at Volvo in the future." ”
At the same time, The Story of the Car Market also learned that in addition to the first version, the price of other models of the PoleStar 2 is also discounted to varying degrees. The start-up version of the single-motor standard endurance version has been reduced from 257,800 units to 193,000 units.
But even so, Polestar's sales performance in the Chinese market is still not improving.
Not long ago, Polestar announced its 2021 sales data: the cumulative global sales volume was 29,000 vehicles, an increase of 185% year-on-year. When it comes to the Chinese market, it only mentions the year-on-year growth rate of "471%". Combined with Polestar's 2020 insurance volume in China (only 365 vehicles), the results in 2021 are obviously only stuck in the scale of more than 2,000 vehicles.
This kind of two-sided performance itself carries a certain contradiction. This contradiction runs through Polestar's 2021.
As a new power brand that has been established for more than four years, such a performance is obviously difficult to convince the public. And for China, the world's largest electric vehicle market, Polar Star's performance is somewhat abnormal. What the hell happened to Polar Star? Why is there such a big difference in performance between the Chinese market and overseas markets? Where is the way out of Polar Star?
#01
The price "crashes" channel chaos
In the past four years, Polestar has launched two models, polestar 1 and Polestar 2. The former is a plug-in hybrid GT sports car priced at 1.45 million (now discontinued and discontinued); the latter is a pure electric sedan officially benchmarked Tesla Model 3, which is highly expected by Polestar.
Polestar hit the news of the "fracture" sales, many people have heard about it, and there has been a lot of exposure on the Internet. However, these various prices are from the tone of auto traders or car sales platforms.
The car is almost brand new, and the formalities cannot help but make people suspect that it is a second-hand car. "The first edition was not actually sold on the terminal, the car was bought out by a wholesaler, and all the goods on the market are currently wholesale from this company." A lot of auto traders just earn the middle difference. Li Fan said to the car market Story.
"This is a promotional exercise for stock cars." Li Fan said truthfully, "PoleStar also hopes to sell as soon as possible, which can digest the inventory as soon as possible and withdraw funds." ”
Polar Star Exhibition Hall | Car Market Story Photo
With questions about the price, Cheshi Monogatari also visited a number of Polar Star Spaces in Beijing.
As the physical sales terminal of the Polar Star brand, Polar Star Space has only two real direct-operated stores in the country, the Parkview Fangcaodi store in Beijing and the Jing'an Kerry Centre store in Shanghai, and the rest are all jointly opened with partners.
When asked if PoleStar 2 has a discount, Wang Ming (pseudonym), a salesman at PoleStar Space, said: "If you are sure to want a car, I will tell you the specific offer, and now I can't tell you the price after the specific offer." ”
As a flagship store, Beijing QiaoFu Fangcaodi Store, the sales expression is very crisp and official, "We are all at a national unified price, and there is no discount on the model." Asked about the "fracture price" online, he was indignant, "We also want to know where to buy a car at this price." ”
Today, for Polestar, price transparency can only be the appearance, not the truth.
In the bustling shopping mall, the Polar Star Space appears deserted. Walking into the huge storefront, there was only one customer from beginning to end, and the sales clerk was also late, and there was a pair of introductions to the only sale of Polar Star 2.
The domestic distribution of polar star space is | Image source: PoleStar official website
Due to the sparse traffic, polar star space in some cities can only choose to close the storefront. Last year Polestar's Xi'an and Nanjing stores were closed. In the recent performance forecast, PoleStar announced that the number of retail networks in the Chinese market will increase from 15 to 20 in 2021. However, if you open the official website of Polar Star, you can find that this number is actually only 18.
Obviously, the slowness of the channel layout is also the main factor hindering the development of Polestar. For the time being, it is not compared with tesla, Weilai, Xiaopeng and other leading new forces, that is, there is also a big gap compared with Gaohe, which has only been established for more than two years. At the beginning of last year, the first batch of 10 High He center HiPhi Hubs were opened, and the number of them expanded to 37 across the country in one year.
#02
Why is the performance of Central Europe so different?
Compared with the "water and soil dissatisfaction" in the Chinese market, Polestar has performed well in the European market and can basically rank in the top 20 positions. According to EU-EVs, half of Polestar's sales in 2021 will come from the European market. As the world's largest auto market, China accounts for only one-tenth of this proportion.
Why is there such a big difference?
First of all, Polestar was born out of Volvo and was born in Europe.
S60 STCC | Image source: Network
Polestar first appeared in the STCC (Swedish Touring Car Championship) in 1996, just like BMW's M, Mercedes-Benz's AMG, Audi's RS, high performance is rooted in its bones. In 2015, Volvo wholly acquired Polestar as its high-performance division. In 2017, Polestar officially became a sub-brand of Volvo, and later announced its Chinese brand name - PoleStar.
In other words, Polestar has been deeply rooted in the European market for nearly 30 years and has accumulated a certain brand influence and user base.
Secondly, in the face of new energy vehicles, the preferences of European consumers are also very different from those of Chinese consumers. As the birthplace of the automobile industry, Europe has retained more consumer concepts in the era of fuel vehicles, and performance, quality, etc. are still the key factors for consumers to consider.
"Moreover, the demand for electric vehicles by European consumers is still mainly based on transportation, limited by geographical conditions, and there are not so many concerns about the level of endurance." Auto analyst Liu Ming believes that "at the same time, in the past two years, Europe's subsidies for electric vehicles have also been very large, and from the perspective of car purchase costs, it is also one of the main reasons why people choose electric vehicles." ”
Chinese consumers are different, with stronger demand for mileage, service and intelligence. Tesla, Xiaopeng and so on are known for intelligence, and Weilai has become a fan of many consumers with its services.
Different consumption concepts have produced unique market characteristics. For Polar Star, it is obviously difficult to achieve both fish and bear paws.
Polar Star 2 in the exhibition hall | Car Market Story Photo
In addition, it can also be seen from the brand concept of "pure, pioneering and high performance" of Polar star that Pole Star pays more attention to the needs of European consumers. In terms of "pure" model design, the Polar Star brand inherits the Nordic style and minimalist aesthetic design. And the minimalist aesthetic and lifestyle is the mainstream in Europe and the United States.
"It's clear that Polestar has a serious lack of understanding of Chinese consumers." Liu Ming was straightforward. Polarstar's overall layout in the world is European design and development, Manufacturing in China, and global synchronous sales. Polar star is completely controlled by foreign parties in research and development, and China does not have much say. Polaris has a design and R&D team in Sweden and an independent engineering R&D team in the UK.
"All in all, Polar Star is actually a European brand in its bones, whether it is styling design or engineering design, it is mainly based on the needs of European consumers, and it lacks enough attention to Chinese consumers." Liu Ming concluded.
#03
What was once "higher than the sky" now?
It has to be said that as the pioneer of high-end electric vehicles under the Geely system, PoleStar has been pinned on high hopes from the beginning. Especially after the "defeat" in the high-end market of geometric impact, Li Shufu, chairman of Geely Holding Group, set the tone for Polestar Automobile: "Blue (Polestar) is better than blue out of blue (Volvo).
Aside from holding high, Polestar seems to have no other choice. Polar star started from a high point, and from the beginning positioned itself as a high-performance electric vehicle brand. The first car, the Polestar 1, sold for $1.45 million. And Polar Star has always wanted to think of itself as luxurious and high-end, but the cruel reality makes it have to "bow its head". It wasn't until 2020 that a second car, the Polar Star 2, was sold for less than a fraction of a Polestar 1.
Exterior view of the Polar Star Exhibition Hall | Car Market Story Photo
"But even so, Polestar is still stuck in the 'quagmire' in the Chinese market, and its strategic position is on the verge of being lost." In other words, Polar Star is now in the situation of 'daddy doesn't hurt, mother doesn't love', and the situation is slightly embarrassing. Geely Holdings originally wanted to use it as a 'submachine gun' to impact the high-end electric vehicle market, who ever wanted to be dud at a critical moment. Liu Ming said to Cheshi Monogatari.
"The appearance of the Pole Star is a little hasty, it is more like a product of the wave of electrification."
To a certain extent, this also reflects Geely's confusion in the electrification layout. From the initial "Blue Geely Action", to the geometric brand, to the emergence of polar stars, it undoubtedly did not achieve the expected effect, and eventually led to the emergence of extreme krypton.
In other words, the future of Polar Star does not depend on its own development, but on the development of its electric vehicle business.
Geely Holding Group has always been committed to becoming a globally competitive and influential smart electric mobility and energy service technology company. On the electrified track, Geely currently has kryptonite on the top and geometric and maple leaves on the bottom. In addition, Volvo also wants to be a leader in the smart pure electric luxury market, and plans to become a 100% pure electric luxury car company by 2030.
In the eyes of many people in the industry, PoleStar has obviously no drama to sing and is on the verge of being strategically abandoned.
So where is the way out of Polar Star?
"The way out for Polar star in the future is to exist as a niche high-performance brand, and the other is to serve as a 'bridgehead' for Geely to enter the European market." Liu Ming said truthfully, "Somewhat similar to Proton's influence in the Southeast Asian market, Polar Star's brand equity can play a certain role in the European market." ”
At this stage, in the field of electric vehicles, Geely Holding System has two major electric vehicle architectures, SEA Haohan and SPA2, and the next generation of pure electric exclusive modular architecture is also stepping up development. Geely, Volvo, Lynk & Co and PoleStar brands will all share the above architecture.
Once, Polestar was an athlete on the track; 4 years ago, he turned around and "went to the sea" to become a "tidemaker" in the wave of electrification; now, the harsh reality has forced him to reconsider his strategic positioning.
End
Add friends please note the company and position