At the end of March, the 2021 financial report of "Wei Xiaoli" was all released, and as a representative of the new car-making forces, the three inevitably had to be compared. From the overall revenue to the net profit, gross profit margin, cash flow, all aspects are the focus of attention inside and outside the industry. In the past year, who has earned the most in "Wei Xiaoli"? Who's living best? Through the series data released by them, it is not difficult to glimpse the fierce competition of the mid-to-high-end new energy track.
NIO has the highest revenue and the highest average price of bicycles
According to the financial report data released by the three car-making companies of "Wei Xiaoli", Weilai Automobile ranks first with an operating income of 36.14 billion yuan, far exceeding Xiaopeng Automobile and Ideal Automobile, whose revenue is 20.99 and 27.01 billion yuan respectively. Because the sales gap between Weilai, Xiaopeng and Ideal is not large, and Weilai Automobile is not the brand with the highest sales volume, it can be seen that the average price of Weilai's bicycles is higher, which drives vehicle revenue. Previously, NIO released the ET5 model, which has a starting price of 328,000 yuan and is the entry model of NIO. Because the price of its models is not cheap, the overall operating income of Niolai is quite considerable with the help of sales.
Relevant data show that the average selling price of Nio's bicycles is as high as 430,000 yuan, while the ideal car is 338,000 yuan and Xiaopeng Automobile is 212,000 yuan. Although Xiaopeng Automobile has the highest sales volume, its overall revenue lags far behind That of Weilai Automobile.
According to the understanding of the car buyer, Weilai Automobile is the earliest brand in the new car-making force, and it is also one of the new car-making forces that consumers are most familiar with. From the nippon EP9 setting a new record in New Taipei, to the release of NIO ES8, ES6, EC6, ET7, ET5 and other models, and then to the "viral marketing" becoming an industry model, NIO's brand influence continues to grow and its product lineup continues to enrich.
Xiaopeng Automobile has the highest sales volume and the lowest net profit
In the closing battle of 2021, Xiaopeng Automobile has won in terms of sales. With an increase of 263% year-on-year and an annual cumulative sales of 98,155 vehicles, Xiaopeng Automobile has created revenue of more than 20 billion yuan with three models: Xiaopeng P7, Xiaopeng P5 and Xiaopeng G3i. Among them, the main model sold is the Xiaopeng P7, and the price range of this car is 270,900-349,900 yuan (the price after the price increase in 2022), and the annual cumulative sales volume exceeds 60,000 units.
However, the high sales volume can hardly hide the large scale of losses. Due to the low price of Xiaopeng Automobile's models, the main selling price range of Xiaopeng P5 and Xiaopeng G3 is about 200,000 yuan, resulting in its overall revenue is not high. Coupled with various expenditures such as research and development, Xiaopeng Automobile's net profit in 2021 was -4.863 billion yuan, with a loss of nearly 5 billion yuan, which was the highest net profit loss among the three car companies.
According to the simple calculation of the amount of loss and sales data, Xiaopeng Automobile will lose about 50,000 yuan for every car sold in 2021. Considering the low gross profit margin, Xiaopeng Automobile will launch more high-end models in the future, such as the upcoming flagship model G9, which is expected to increase the high-end attributes of Xiaopeng Automobile and increase its operating income. In addition, achieving better cost control through manufacturing technology is also the primary consideration of Xiaopeng Motors.
It is worth mentioning that Xiaopeng Automobile is facing severe delivery problems in 2021, a large number of booking users continue to complain due to the long delivery cycle, coupled with the occasional spontaneous fire news exposure, resulting in the negative image of Xiaopeng Automobile further deteriorating. In other words, Xiaopeng Automobile will not only solve the gross profit margin problem and delivery problem in the future, but also step up the repair of its brand image to enhance net profit.
Ideal cars have the highest gross margin and the least losses
Among the new forces of car manufacturing, the ideal car is the least optimistic. Since its launch, the brand has only one ideal ONE model. And the ideal ONE is still a range extender model, the technical route is inconsistent with the current mainstream new energy vehicles, and it has been questioned more after launch.
However, Ideal ONE sold 90,491 new cars in 2021, achieving a year-on-year increase of 177.4% in sales and operating income of 27.01 billion yuan. Since the price of the ideal ONE is 338,000 yuan (before the price increase, the price is 349,800 yuan after the price increase), the bicycle price is higher, and the net profit and net profit growth in the context of the surge in sales are also very impressive. However, the R&D expenses of Ideal Auto are only 3.29 billion yuan, lower than WEILAI's 4.592 billion yuan and Xiaopeng Automobile's 4.114 billion yuan, which may also be a major premise for its net profit leadership.
Among the three companies, the ideal gross profit margin was the highest, reaching 20.6%, slightly higher than That of Weilai. Xiaopeng Automobile ranked at the bottom with a gross profit margin of 11.5%. For reference, the gross profit margins of the three independent giants of BYD, Geely and Great Wall in 2021 are 17.39%, 17.1% and 16.16% respectively. It has to be said that the ideal ONE has created a miracle for the ideal car.
Looking at the 2021 financial report, the development situation of the three major head enterprises of Weilai Automobile, Xiaopeng Automobile and Ideal Automobile has been revealed clearly. Weilai Automobile's revenue, Xiaopeng Automobile's net profit, and ideal gross profit margin, there is nowhere to hide the shortcomings. However, the cash flow of the three companies is quite considerable, especially Weilai Automobile and Ideal Automobile have reserves of more than 50 billion yuan, which also means that they still have strong strength to continue to develop in the next few years. At present, survival is no longer a problem for "Wei Xiaoli", but how to deliver new cars on time under the influence of lack of cores and epidemics.