March is considered to be "earnings month", and listed companies basically release "bills" for the past year. The automotive industry in this month is also full of financial reports, overseas brands in Mercedes-Benz, BMW and Audi financial reports have been released, people marvel at its "financial skills", Although the Chinese brand Wei Xiaoli is still in the loss, but still preempt Geely, Great Wall, BYD these traditional manufacturers, released financial reports.
For financial reports, each brand naturally reports good news rather than worry. However, if you compare Wei Xiaoli, who has just crossed the line of life and death, and Mercedes-Benz, BMW and Audi, which have gone through a century-old journey, how many roads do they have to go?
1
Wei Xiaoli, while losing money, is arrogant
Last week, Weilai, Xiaopeng and Ideal Automobile (commonly known as "Wei Xiaoli") released the financial report data of the past year. After comparing and observing, Yipinjun found that although these three companies were still in a state of loss, it did not hinder their arrogant posture.
Through the above table of financial report data, it can be found that Xiaopeng Automobile has the highest sales in the past year, almost touching the threshold of annual sales of 100,000 vehicles, and the cumulative sales of Xiaopeng P7 have exceeded 100,000 vehicles, and this year will also usher in the listing and delivery of Xiaopeng G9, the growth momentum is not reduced, but due to its relatively low product positioning, resulting in low revenue and vehicle gross profit. In the past year, the sales volume of "Wei Xiaoli" fell to the second place, especially in the fourth quarter, and the sales volume opened up the gap with Xiaopeng and Ideal, which has a certain adverse impact on the development speed of Weilai, and this year with the delivery of Weilai ET7 and ET5, it is expected to usher in new growth at the sales end. The most arrogant of these three is the ideal car, which can achieve monthly sales of more than 10,000 with only one car, and the gross profit of the whole vehicle is the highest, and the depth of loss is the shallowest.
It is worth noting that these three new forces are currently in a state of "no bad money", and the cash reserves in their hands are all on the scale of 40 to 50 billion. Therefore, they are also more willing in research and development, especially Xiaopeng Motors, whose R & D investment accounts for 19.6% of the overall revenue. This helps them accelerate the pace of technological innovation and deepen the brand's moat.
2
BBA, counting money while transforming
Although Wei Xiaoli is full of wind and water, after all, he is still in a state of loss, and the waist pole is not so hard. In contrast, Mercedes-Benz, BMW and Audi (referred to as BBA), these centuries-old luxury brands, the family foundation is a lot more substantial, especially Mercedes-Benz, Audi, although sales have declined, but the profit is growing significantly.
In the BBA's financial report, there are two sets of data worth paying attention to: First, net profit, these three luxury brands have also suffered from unfavorable factors such as lack of cores and raw material price increases in the past year, but from the perspective of profitability, they are very strong. In particular, Mercedes-Benz, in the case of a 5% decline in sales, the net profit can increase by 255%, which shows how strong the profitability of its bicycles is. The second is their transformation in electrification, from the data revealed in the financial report, the sales scale of BBA in the past year has reached about 100,000 vehicles, almost equal to the scale of Wei Xiaoli, but from the perspective of future development, their investment scale and product quantity will be far greater than these new forces.
3
Ji Changbi, while holding out, rushed forward
Last week, Geely, Great Wall and BYD (referred to as "Jichangbi") also released financial reports, through the financial report information of these three companies, it is not difficult to see that these three companies have maintained good financial data, the gross profit level of the whole vehicle is about 17%, and the profit has also had a good net profit into the account.
However, these three companies also have their own "troubles". With fuel vehicles as the absolute core of Geely, the Great Wall began to be challenged by BYD with new energy vehicles as the core, we see that Geely, the Great Wall of new energy vehicle sales accounted for 10% or less, and BYD accounted for more than 80%, it is not difficult to understand that the sales of only 700,000 bydd, in terms of revenue can "call" Geely and the Great Wall, but in terms of net profit, because the overall research and development is much higher than the two, resulting in a look that is not so bright.
What would be the result if we made a horizontal comparison between Wei Xiaoli, Ji Changbi and BBA? Let's do a "fun" data analysis.
Through the above table, we can find that Wei Xiaoli and BBA are almost 2 Geely Great Wall BYDs in the sales dimension, almost 6 Geely Great Wall BYDs in the revenue dimension, and almost 16 Geely Great Wall BYDs in the net profit level. It is inevitable to lament that sales may be able to catch up with BBA in the short term, but there may be a longer way to catch up in terms of revenue and profit.