On April 11, Great Wall Motor released its latest production and sales data. In the first quarter of 2022, the cumulative sales volume was 283,500 units, down 16.32% year-on-year, of which 29,322 units were sold overseas. Affected by the insufficient supply of parts, haval and Great Wall pickup truck sales fell by 25.13% and 27.68% respectively year-on-year. The Euler brand achieved growth, with cumulative sales of 33,754 units from January to March, up 10.01% year-on-year. Euler Good Cat sold 6374 vehicles per month, an increase of 56.8% month-on-month, and has sold 19460 vehicles this year, with a single model sales increase of 240% year-on-year.
It is a car brand designed specifically for women. According to public information, Euler ORA was released on August 20, 2018, which is the first independent new energy vehicle brand among China's mainstream independent car companies, with five models on sale, including black cat, white cat, good cat, good cat GT, and iQ. In the more than three years since the listing, the cumulative sales volume has exceeded 200,000 vehicles, and more than 70% of the owners are female customers.
Similar to tesla taken from the name of physicist Nikola Tesla, the reason for this name is to commemorate the world-famous mathematician Leonard Euler, which means that he will be meticulous and insist on building a good car. Relying on the advantages of Great Wall Motor's strong financial strength and comprehensive car-making technology system, Euler is positioned as a "new generation of electric cars", not to do "oil to electricity", and to integrate leading intelligent network technology, thus forming a distinction with traditional car companies.
10 days after the release of the brand, its first pure electric vehicle, Euler iQ, appeared at the Chengdu Auto Show, positioned as a pure electric compact cross-border SUV, and once launched, it won a total of 6,000 orders from three companies, including Universal Travel, Jingdong Auto Mall, and Hebei Dazheng Ren Group.
The design of the second model, The Euler R1, is a bold attempt: two round headlights, an arc-shaped overall shape, a small and cute appearance, and a 70,000 yuan boutique car market. Although it has been ridiculed by many fuel car owners as an "electric toy", it has gained the favor of female consumers. In just 273 seconds, the first limited 777 units were snapped up.
Euler, who tasted the sweetness, began to develop a similarly shaped Euler white cat, and officially renamed R1 as Euler Black Cat. It is not difficult to see that its product naming is not unrelated to the "cat sucking" that has exploded on the Internet, so as to stimulate the psychological empathy of users and thus enhance the "difference" of the brand. The color of the car is named high-heeled red, forgive green, and 10,000 meters, all of which are in line with the true preferences of female consumers.
In addition to accurate brand positioning and "net red marketing", Euler also specially tailored a lot of intimate function configurations for women's groups, such as automatic parking, 360-degree panoramic image, ACC adaptive cruise system, face recognition, smart dodge and lighting assistance and other functions are equipped, basically from the beginning to parking have coverage, basically solve various problems encountered in the daily car process, so that novice Xiaobai can also easily drive.
In March last year, Yu Fei, then general manager of brand marketing, said that Euler was positioned as a "global car brand that loves women more", and to establish the correct values of the industry for female users, we will strive to eat the "women" bowl of soft rice in the future. The cumulative sales of the brand in the whole year reached 135028 vehicles, an increase of 140% year-on-year; Euler Good Cat became the top seller in the A0-level BEV market with a result of 50,931 vehicles.
It is worth mentioning that while sales are growing rapidly, Euler has also been subject to a lot of controversy. At the end of last year, the "stealing chip" storm pushed the brand to the cusp of public opinion. In February this year, the cessation of orders for black and white cats caused heated discussions. It is reported that in addition to the supply of spare parts can not guarantee production, the two models have not been profitable since their birth, and the price of raw materials has risen sharply in 2022, and the loss of Euler Black Cat alone exceeds 10,000 yuan.
Don't want to sell more and lose more, Euler can only expand the market upwards, lightning cat, ballet cat, punk cat, cherry cat will be listed one after another, priced at 150,000-200,000 or even more than 200,000. Previously launched are small cars with low unit prices, and whether more expensive ballet cats can be sold is still unknown.
According to the planning of Great Wall Motor, by 2023, the global production and sales of Euler will reach 1 million vehicles, gaining a firm foothold in the price range of 100,000-200,000 yuan, and becoming a brand with global influence on the waist of electric vehicles. This goal is not ambitious, and it remains to be seen whether it can be achieved.