On March 25, NIO announced its unaudited financial report for the fourth quarter and full year of fiscal 2021, of which the total revenue of Q4 was 9.9 billion yuan, an increase of 49.1% year-on-year, and the annual revenue was 36.14 billion yuan, an increase of 122.3% year-on-year.
In Q4 2021, NIO delivered a total of 25,034 vehicles, an increase of 44.3% year-on-year, and a total of 91,429 vehicles were delivered in 2021, an increase of 109.1% year-on-year. As one of the three new energy royal families, the strength of Weilai Automobile is obvious to all, although there is still a gap with the heads of BYD and Tesla, but the growth momentum is very obvious.
Car manufacturers value the most, in fact, is the gross profit margin of the whole vehicle, the higher the gross profit margin, the more money the company earns from each car. According to the financial report, the gross profit margin of Weilai Automobile's vehicle sales for the whole year was 20.1%, which is already very high in the automotive industry. Toyota has always been the most profitable brand in the automotive industry, and with excellent cost control, the company's vehicle gross margin in Q4 2021 is 19.2%, and Volkswagen's vehicle gross margin for the same international manufacturer is 17.5%.
If you think it is still low, then you can look at other domestic independent brands, the gross profit margin of the whole vehicle is even less than 10%, and some car companies are even in the state of selling a loss, Weilai can achieve such results, it is already quite remarkable, but compared with Tesla, it is still inferior. Xiao Lei learned that Tesla's bicycle gross profit margin is as high as 30%, which is the ceiling of the industry.
Nowadays, the cost of car companies is rising at a speed visible to the naked eye, and the prices of raw materials such as lithium batteries and chips required for new energy vehicles are soaring. Therefore, Tesla, BYD, Ideal, Xiaopeng, Lantu and many other manufacturers have announced that they will increase the price of their models. The prices of electric vehicles and gasoline have both risen, making it impossible for many small consumers to mention the interest of buying a car. However, at this time, Weilai started a "counter-trend" and announced that there was no intention of price increases in the short term.
Li Bin, founder, chairman and CEO of WEILAI Automobile, said that ES7 will be released in the second quarter of this year, as a high-end SUV of more than 400,000, with a market space of 200,000 vehicles. I have to say that Weilai has made great achievements in the high-end new energy vehicle market, and it is expected that ET7, ET5 and other models can also get good sales.
Having said that, Xiao Lei believes that Weilai Automobile has a great impact on other car companies and battery suppliers in the field of power replacement technology, and the substation may become one of the most ideal ways to replenish electric vehicles in the future, but the company has also burned a lot of money for this, and looks forward to achieving greater progress in 2022.