G6 fell from the peak to the bottom, and the sales volume was less than a fraction of the Model Y, Wang Fengying could not save Xiaopeng Motors?

The sentence "Dapeng rises with the wind one day and soars to 90,000 miles" shows the ambition of Xiaopeng Motors, and the background of the expansion of ambition is the extremely high confidence that Wang Fengying gave Xiaopeng after joining. A year later, Xiaopeng's 2023 financial report was announced, and Wang Fengying officially showed her report card to the outside world - there are inevitably many regrets in the successful change, and it is Dapeng that rises with the wind, and Xiaopeng is still Xiaopeng.

When it comes to the data of the financial report, it is very embarrassing. In 2023, Xpeng's revenue will be 30.68 billion yuan, and the net loss will reach 10.89 billion yuan, compared with 8.71 billion yuan in 2022, the loss will expand, which is not a good thing;

Gross profit margin, even more unbearable. In 2022, the gross profit margin was 11.5%, and the gross profit margin of vehicles was 9.4%, and in 2023, the gross profit margin fell to 1.5%, and the gross profit margin of vehicles fell to -1.6%. Although, if you compare it on a quarterly basis, Xpeng's gross profit margin has picked up in the fourth quarter, but for the whole year, it has almost returned to the original starting point - 2023, which is the worst year for Xpeng.

It is worth affirming that under Wang Fengying's vigorous and resolute changes, Xiaopeng has regained its vitality. In the past, because of the mutual struggle of many executives, as well as flickering upward, Xiaopeng became their ATM, but at the same time, Xiaopeng was gradually hollowed out.

From the beginning of 2023 to the end of 2023, we can all see Xiaopeng's measures in terms of personnel, from Wang Fengying and Yi Han joining, to Wu Xinzhou, the backbone of intelligent driving, leaving and returning to his old club, Yi Han resigned and returned to his old club, the vice president of procurement was investigated, Xu Jing, the public relations director, was replaced, and Wang Fengying's closest people joined, etc., etc., compared with the stability of Xiaopeng's personnel in the past, it can be further explained that the decline of Xiaopeng lies in people.

Change is effective, but it is also a time bomb. Let's not talk about the sensational Xiaopeng P5 and Xiaopeng P7 rights protection incidents, as Xiaopeng's last straw G6, because it set a sufficiently amazing price when it was listed, it became a hit once it was launched, once supporting Xiaopeng's sales, and because of this model, Xiaopeng's stock price suddenly soared.

However, with the continuous start of the price war, Xiaopeng G6 is difficult to highlight the cost performance, even if the terminal gives a discount of about 10,000 yuan, but compared with the strong funds of traditional manufacturers, it can be described as a small thing, and it is difficult to compete with the terminal, so sales began to decline all the way. The data shows that in December last year, the sales of Xiaopeng G6 were still 7673 units, and in January this year, it suddenly fell to 1803 units, and in February it was only 1161 units, and the weekly sales volume in March was about 500 units.

Why did it suddenly fall so severely? This inevitably leads to speculation. What needs to be known is that Wang Fengying was proficient in channel management when she was at Great Wall Motors, and after coming to Xiaopeng, one of the measures has attracted everyone's attention, that is, from the original focus on direct sales to the later focus on distribution.

The direct sales model is that the manufacturer directly sells the new car to the consumer, and the distribution model is that the new car is pressed into the hands of the dealer first, and then sold to the consumer. If there are enough dealers, there will be enough new cars, and the monthly data will be good enough – even if the new cars have not yet been sold to consumers.

It is understood that at the beginning of 2024, Xpeng Motors further asked dealers to reserve inventory to improve efficiency and achieve the annual sales target of 280,000 units.

Rider observation: a new one, focusing on selling one

One of the more interesting details is that since the launch of Xpeng X9 in January this year, the main sales force of Xpeng has changed from G6 to X9. It stands to reason that if the product power of the G6 is still strong enough, it is reasonable that both models should be the main force.

There are two reasons why this is the case. One is that the cost performance of the G6 is really not good, and it is difficult to get up again after being pressed down by the opponent; the second is that the X9 is a new car, and Xiaopeng puts more energy on the new body, thus ignoring the old car G6. No matter what the real reason is, "a new one, focus on selling one" seems to be Xiaopeng's consistent approach, otherwise there would be no G3, P5, and P7 have been defended successively.

In this case, can Wang Fengying's answer sheet be regarded as a full score? It is difficult to judge. Can Wang Fengying really save Xiaopeng? It is also difficult to draw conclusions.