Recently, Ideal Auto released its 2020 and fourth quarter financial reports, and in 2021, Ideal Auto's gross profit margin continued to grow, while continuing to lose money. In the planning of Li Xiang, founder, chairman and CEO of Ideal Auto, Ideal Auto verified from the 0-1 stage that Ideal ONE can become the ceiling of the industry in the market segment of family cars, and achieved the first place in sales of medium and large SUVs. In the next few years, ideal cars will enter the 1-10 stage and enter a more subdivided range of 200,000-250,000 yuan of household users. Whether the ideal in 2022 can turn losses into profits through new cars is not known.
Sustained losses
The ideal fourth quarter achieved profitability, specifically, the total revenue in the fourth quarter of last year was 10.62 billion yuan, an increase of 156.1% year-on-year. In the automotive business, the sales revenue of ideal automobile vehicles in the fourth quarter of last year was 10.38 billion yuan, an increase of 155.7% year-on-year. Deliveries in the fourth quarter of last year were 35,200 units, up 143.5% year-on-year.
Operating profit for the fourth quarter of last year was 24.1 million yuan, compared with a net profit of 295.5 million yuan in the fourth quarter of last year, compared with an operating profit loss of 78.9 million yuan in the fourth quarter of 2020 and a net profit of 107.5 million yuan in the fourth quarter of 2020. The ideal fourth quarter was indeed profitable.
From the perspective of the whole year, it is still a loss, and last year's ideal automobile revenue was 27.01 billion yuan, an increase of 185.6% year-on-year. Last year, the sales revenue of ideal automobile vehicles was 26.13 billion yuan, an increase of 181.5% year-on-year. Ideal cars delivered more than 90,000 units last year, up 177.4% year-on-year.
Ideal Auto's vehicle gross margin was 20.6% last year and only 16.4% in 2020, while the increase in gross margin did not reverse the full-year loss. According to the financial report, the ideal operating loss for the whole year last year was 1.02 billion yuan, an increase of 52% year-on-year; the net loss reached 321.5 million yuan, an increase of 111.9% year-on-year.
New car stop loss?
The fourth quarter ideal for the first time to achieve a single quarter revenue of more than 10 billion yuan, of which the revenue from automobile sales accounted for 97.74%, the 2021 ideal ONE made a contribution to this self-evident. In May 2021, the higher price of the 2021 Ideal ONE was launched, and the starting price of the 2021 Ideal ONE increased by 10,000 yuan compared with the previous version.
The ideal of tasting the sweetness tries to stop the loss again by the new car. It is reported that the ideal 2022 will launch the whole series of large SUV ideal X01 in the second half of this year, the car is still a range increase, from the appearance point of view, the ideal X01 is different from the ideal ONE is not equipped with a wide size of the front grille, the overall shape is close to the aesthetics of pure electric vehicles, and equipped with BMW engines.
Previously, Li wanted to say that he would plan for the next 5-10 years, and Li wanted to say that future products will still be for home users, but the audience will be more segmented. The appearance of the ideal X01 is an important step in Li Xiang's long-term plan. Li Xiang even praised the ideal X01 to Haikou, calling the ideal X01 a product that clearly exceeded the needs of users.
It is worth noting that the price of the ideal X01 positioning of 450,000 yuan, the difference between the ideal ONE 300,000 yuan of weight car, a range extender into the luxury car field benchmarking products will undergo huge changes, consumers will pay for it? Many users who have previously purchased the ideal ONE are fuel vehicles at home, and the ideal extender in the order of 300,000 yuan has no endurance anxiety and can hang new energy license plates, and it is obvious that the ideal X01 is different from the ideal ONE.
If consumers do not pay, the future ideal only relies on the ideal ONE to support sales growth, and how long can revenue growth last. Placed on the long track, the ideal future will develop a pure electric plan, according to the ideal plan, the first pure electric is expected to be launched in 2023. When the ideal pure electric comes out in 2023, other pure electric brands may have produced a certain brand positioning in the minds of consumers.