On February 15, there was a network news that the black cat and white cat under the Euler brand no longer accepted new car orders. Subsequently, some dealers said that the two models have been discontinued. According to the news of the "Daily Economic News", the relevant person in charge of the Euler brand confirmed this news on the same day.
According to the China News Network today (16th) reported, there are Great Wall Motor related people to China News Finance said: due to chip shortages, spare parts supply, national subsidy and many other reasons, black and white cat model order backlog is more, customer purchase cycle is too long, affecting the customer experience, in order to avoid trusting the Euler brand car owners to bring bad feelings, comprehensive consideration of various factors, stop receiving new orders for Euler black and white cat models, manufacturers will coordinate internal resources to meet the existing order scheduling plan faster, to ensure that the order customers have booked cars to pick up the speed and purchase interests.
The Euler brand is a new new energy brand under Great Wall Motor, which has a series of good cat GT, good cat, white cat and black cat. Official data show that in January this year, the brand sold 13,229 vehicles, an increase of 28.94% over the same period last year. It is worth noting that from the sales data of the major models of the Euler brand in previous years, in the past period of time, black cat and white cat were one of its most important main products.
In January this year, the sales volume of the Euler brand was 13229 vehicles Screenshot of the announcement
Black Cat: Euler brand "fist product"
Euler brand said that Black Cat focuses on the 70,000 yuan boutique pure tram market, which is a fist product to fill the gap in the market and expand its product matrix. In December 2020, Euler Black Cat sold 10,010 vehicles (a total of 12,745 Euler brands sold 12,745 vehicles in the same period), up 334.7% year-on-year, achieving a single month of breaking 10,000, the first high-end model sales growth rate in the market segment, becoming the single product that contributed the largest sales volume (accounting for 78.54%).
The data also mentions that the white cat and the black cat form a CP combination, which is a "smart tide" for young people. According to the data, Euler sold 135,000 vehicles in 2021, an increase of 140% year-on-year. Among them, the good cat series (black cat, white cat) model will sell more than 88,000 units in 2021, accounting for 65% of the total sales of the Euler brand. The news about the suspension of production quickly attracted the attention of all walks of life.
Screenshot of 2020 data
Caitong Securities Research Report pointed out that Great Wall Motor's sales in January this year fell by 19.6% year-on-year and 31.2% month-on-month. In the same period, the Euler brand increased by 28.94% year-on-year, but fell by 36.78% month-on-month. From the overall situation of the company, the main factor in the year-on-year decline in its January sales volume is the shortage of chips, and it is expected that Q2-Q3 chips are expected to achieve a balance between supply and demand. In addition, the Spring Festival holiday also had an impact on January sales.
National replenishment slope: will the new energy market situation change in 2022?
Judging from the response of Great Wall Motors, factors such as "chip shortage, spare parts supply, and national subsidy" have led to a large backlog of orders for black and white cat models, and the customer car purchase cycle is too long. The shortage of automotive chips and supply chain problems have become a common topic, and the recent "national subsidy" has attracted relatively more attention in the industry.
According to the requirements of the "2022 New Energy Vehicle Promotion Subsidy Plan" (hereinafter referred to as the "Subsidy Plan") jointly issued by the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, and the Development and Reform Commission, from January 1, 2022, the subsidy standard for new energy vehicles will be reduced by 30% on the basis of 2021, and vehicles licensed after December 31, 2022 will no longer be subsidized. This means that 2022 will be the last year of the implementation of the subsidy policy for new energy vehicles.
The Subsidy Scheme clarifies the subsidy standards for different types and different fields of vehicle products. For example, in the subsidy scheme for new energy passenger cars (non-public domain), models with a cruising range of 300 km and less than 400 km are subsidized by 9,100 yuan, and models with a cruising range greater than or equal to 400 km are subsidized by 12,600 yuan. Plug-in hybrid (including range extender) passenger car, pure electric mileage ≥ 50 km (NEDC condition) or pure electric mileage ≥ 43 km (WLTC condition) subsidy of 4800 yuan.
Screenshot of the government website
In the sales market, the policy stirs up thousands of waves.
Comprehensive domestic media reports, before the introduction of the "subsidy plan", Tesla has said that it will increase the price of its models, after the introduction of the "subsidy plan", Tesla has once again raised the price; the sales staff of GAC Aeon has issued a signal of "want to buy fast", and Xiaopeng Automobile and FAW-Volkswagen have launched a time-limited price insurance policy. However, in the industry's view, the impact of subsidy decline on the consumption of new energy vehicles is limited.
As far as the industry is concerned, the more intuitive feeling is that the new energy vehicle market is shifting from policy-driven to market-driven, and its sales structure is also expected to shift, from "dumbbell type" to "olive type", and the main market of 100,000 to 200,000 yuan may have explosive growth. So is the reason behind the backlog of black and white cat orders under the Euler brand universal?
Cui Dongshu, secretary general of the National Passenger Vehicle Market Information Joint Association, told the Observer Network: Overall, new energy vehicles this year can still maintain a good growth, and it is expected that enterprises can actively and effectively respond to the market. The problem of automotive chips is expected to be effectively alleviated between Q2 and Q3; supply chain problems were affected to a certain extent in the early stages of the epidemic, but the overall situation is currently good. "The overall number of cases of not accepting new orders is relatively small."
In January this year, the auto market opened its doors, and new energy vehicles competed for deer
According to the information of the Association, the retail sales of the mainland passenger car market reached 2.092 million units in January 2022, down 4.4% year-on-year, down 0.6% compared with December 2021. The retail sales of new energy passenger cars in the current period reached 347,000 units, an increase of 132.0% year-on-year and a decrease of 27.0% month-on-month, which is basically the same as the 25% characteristic of January 2021.
From the perspective of car companies, the traditional car companies represented by the SCO Group and the GAC Group in the current period have performed relatively prominently in the new energy sector. In January this year, there were 11 companies with wholesale sales exceeding 10,000 vehicles, a significant increase of 6 over the same period, including: BYD 93,101 units, Tesla China 59,845 vehicles, SAIC-GM-Wuling 40,007 vehicles, Chery Automobile 21,179 vehicles, Geely Automobile 17,036 vehicles, GAC Aian 16,031 vehicles, SAIC passenger cars 14,414 units, Great Wall Motors 13,781 vehicles, Xiaopeng Motors 12,922 vehicles, Ideal Cars 12,268 vehicles, Nezha Automobile 11,009 vehicles, which can be described as " Herds chase deer".
Screenshot of the website of the Association
As an important part of the new energy layout, can the Euler brand become the killer of Great Wall Motors in this track?
On January 23 this year, Great Wall Motor Co., Ltd. released its 2021 performance report. In 2021, Great Wall Motor's total operating income was 136.317 billion yuan, an increase of 31.95% year-on-year. Net profit was 6.781 billion yuan, an increase of 26.45% year-on-year, and net profit after deduction of non-attributable net profit was 4.29 billion yuan, an increase of 11.8% year-on-year. Despite being backed by a tree, Euler herself still has a long way to go.
Zhang Xiang, an analyst in the automotive industry, said that the product structure of Great Wall Motors is mainly SUVs and pickup trucks, and cars account for a relatively small proportion. If you do new energy, SUV is also generally more energy-intensive than cars, and the mileage is shorter than that of cars, and it will be more difficult to meet national regulations. Great Wall Motors has only started to do new energy in the past one or two years, starting later than traditional car companies such as GAC and Geely.
From the data point of view, Great Wall Motor's total sales in 2021 are 1.281 million units, while Euler will sell 135,000 vehicles in 2021, accounting for only 10% of the total sales. From the price point of view, Euler black cat is priced between 69,800 yuan (301KM basic) and 84,800 yuan (405KM long-endurance type); the white cat as a whole is slightly higher, at 71,800 yuan (305KM luxury type) and 88,800 yuan (401KM flagship), still aiming at the low-end market.
The average selling price of a bicycle is an intuitive indicator of a brand's ability to premium. The average selling price of Great Wall Motors in 2021 is 106,400 yuan, and whether Euler can give full play to its value advantages may affect its long-term resilience in the new energy market.
Source: China News Network