Xiaopeng dropped 50,000! Tough Tesla?

Xpeng price reduction!

On January 23, 2024, Xpeng Motors (hereinafter referred to as "Xpeng") officially announced that the price of all Xpeng P7i models will be reduced, with a starting price of 208,900 yuan (the previous guide price of the entry version was 239,900 yuan), of which the highest configuration of the P7i 610 Pengyi performance version will drop by 50,000 yuan, and the price will come to 289,900 yuan.

At the beginning of the year, after new forces such as Ideal, Weilai, Zeekr, and Leap officially announced limited-time discounts, Xiaopeng also joined the ranks of price reductions.

But judging from the official news, Xiaopeng's price reduction did not mention the facelift information (ideal, Weilai, and Zeekrypton price reductions are all facelifted models that are about to be launched, and the old models are pushed to a limited time), and the official announcement clearly pointed out that the price reduction is aimed at Xiaopeng P7iXNGP urban intelligent driving full coverage has reached 243 cities, and a limited-time discount is specially launched, and the preferential period ends on February 29.

As Xpeng's first refreshed model in 2023, the P7i launched in the first quarter once pulled up the momentum of Xpeng in the first half of 2023, and has been supporting Xpeng's sales market before the launch of Xpeng G6 and 2024 Xpeng G9 in the second half of 2023: the cumulative sales in 2023 will reach 46,375 units, accounting for more than 32% of Xpeng's annual sales in 2023, and the monthly sales have been maintained at the level of 4,000 units, and the market demand is extremely stable.

With stable sales and no news of a facelift, from an internal point of view, there is really no reason for the Xpeng P7i to cut prices.

However, the external environment is quietly changing, especially on January 12, 2024, Tesla lowered the price of the new Model 3 by 15,500 and 11,600 yuan respectively, and the price of the new version of the Model 3 long-range all-wheel drive has dropped to 285,900 yuan;

It is worth noting that Tesla's sales in the first two weeks of the year were 3,200 and 7,400 respectively, and the weekly sales in the first week after the price cut (January 15-January 21) have reached 11,700, surpassing the sum of the sales in the previous two weeks. And Xpeng P7i, from the perspective of product positioning, is a direct competitor of Tesla Model 3, which is also likely to be the direct reason for the price reduction of Xpeng P7i.

From the sales side, in the third week of sales data released by Ideal, Xpeng's cumulative sales were only 4,600 units, compared with December sales, it is still "under great pressure", and Xpeng P7i, which has continued to stabilize sales, has become Xpeng's first model to reduce prices in 2024, which also shows Xpeng's rapid realization of the positive response to changes in the external competitive environment.

From the product side, Xpeng P7i is currently the only intelligent scissor door + intelligent driving + 3 seconds four-wheel drive CDC pure electric intelligent driving type in the same level, in the context of the full popularization of intelligent driving, the price of the Pengyi version of the model will be reduced, and it also shows Xiaopeng's strengthening of P7i's differentiated product strength.