After the Xiaomi SU7 exploded, who was the biggest "victim"?

智行驾道

2024-05-17 18:16Posted in Guangdong automotive creators

In 43 days, the delivery of Xiaomi SU7 reached 10,000 units - Xiaomi has become the fastest new force to achieve more than 10,000 deliveries.

According to Xiaomi's official, as of 24 o'clock on April 30, the number of Xiaomi SU7 locked orders reached 88,063 units. According to the well-known car blogger @Sun Shaojun, as of May 15, the number of Xiaomi SU7 locked orders has exceeded 100,000 units.

In the more than a month after the release of Xiaomi SU7, the car circle was stirred up by this car, which can be described as "earth-shaking", and you can see and discuss Xiaomi SU7 both online and offline, and its degree of breaking the circle is unprecedented.

If someone holds the moon with stars, there will be someone who is secretly sad. Xiaomi SU7 won 100,000 orders, which means that its competitors have 100,000 fewer potential customers.

April was the first full delivery month for the Xiaomi SU7, with a total of 7,058 new vehicles delivered. At the same time, what is the performance of those frequently compared competitors - Tesla Model 3, Zeekr 001, Zhijie S7, Xpeng P7, etc.? Have they resisted Xiaomi's attack?

Model 3: Significant decline, but Xiaomi is not the "culprit"

There is no doubt that Tesla Model 3 is the first competitor of Xiaomi SU7, whether it is the frequent mention of Lei Jun at the press conference, or various media and car reviews comparison, as long as it is a pure electric car priced at 20-300,000 yuan, Model 3 must be an unavoidable object.

In April this year, Model 3 sales in China were 5,065 units, nearly 2,000 fewer than the Xiaomi SU7, and its month-on-month and year-on-year declines were sharply reduced, -65% and -61.6%, respectively. So, is the big drop of the Model 3 brought about by the Xiaomi SU7? There may be some reasons, but not all.

After the Xiaomi SU7 exploded, who was the biggest "victim"?

In fact, the Model 3's decline is not limited to this April. From January to April this year, the cumulative sales of Model 3 in China were 37,110 units, a year-on-year decrease of 33.6%. Compared with the same period last year, Model 3 sales have declined to a certain extent every month this year, of which April is the lowest sales of Model 3 in the last six months, and the last sales trough was on the eve of the launch of the facelifted Model 3, and a large number of users are in a wait-and-see mode.

On the other hand, Tesla's problems are not limited to China, and its global growth is also facing challenges. Sales in the first quarter of this year were 387,000 units, down 8.53% year-on-year and more than 20% quarter-on-quarter, which was its worst result in the same period since the first quarter of 2020.

As a model released eight years ago, the Model 3 is gradually showing a lack of competitiveness in the highly competitive Chinese market. Therefore, the Xiaomi SU7 is at most just another push on the downward path of the Model 3.

ZEEKR 001/007: Blocking the door before listing, and the cold and warm after listing are different

Before the Xiaomi SU7 went on the market, there were many models of Geely blocking Xiaomi at the door on the Internet, which was quite a bit of a big deal to see the excitement.

In fact, the two brother models of Geely's sub-brand ZEEKR, ZEEKR 001 and ZEEKR 007, are in direct competition with Xiaomi SU7. In April, the sales of these two models were 11,267 and 3,827 respectively, of which ZEEKR 001 increased by 50.1% month-on-month and 74.3% year-on-year, respectively.

If you look at the comprehensive sales from January to April, the cumulative sales of ZEEKR 001 increased by 111% year-on-year, ranking first in the sales of more than 200,000 Chinese pure electric brands. Obviously, ZEEKR 001 has not only not been affected by Xiaomi SU7, but has seen a significant increase.

Sun Shaojun, the founder of "car fans" and a car blogger, said that a large number of users were on the sidelines before the release of Xiaomi SU7, and after the release, it was found that the positioning of the two models was significantly different, so many wait-and-see users began to place orders for ZEEKR 001.

In short, many users who are watching ZEEKR 001 may just want to see if there will be more surprises in the "cost-effective killer" Xiaomi, and after the release, it was found that Xiaomi SU7 focuses on driving and control, and ZEEKR 001 focuses on family comfort and large space, so they decisively turned to the latter.

However, the "little brother" of ZEEKR 001, ZEEKR 007, was not so lucky. In April, ZEEKR 007 sold 3,827 units, down 17.8% month-on-month. Since its launch in December last year, the cumulative sales of ZEEKR 007 have only been 19,397 units, with a monthly average of less than 4,000 units.

Due to the higher degree of price overlap and the fact that they are all sedans, ZEEKR 007 is significantly more pressured by Xiaomi SU7 than ZEEKR 001. Three days after the release of Xiaomi SU7, on April 1, ZEEKR 007 announced the launch of a rear-wheel drive enhanced version, priced at 209,900 yuan, which is 6000 yuan lower than the standard version of Xiaomi SU7, which has obvious implications.

But judging from the sales volume in April, it may take time for ZEEKR 007 to beat Xiaomi SU7.

Zhijie S7, Xpeng P7: The competition is obvious, and the price is reduced

Xiaomi SU7's other two competitors, the Zhijie S7 and Xpeng P7 (including the Xpeng P7i), are also stars in the industry.

Zhijie S7 is jointly built by Huawei and Chery, with many Huawei technology blessings, and the past grievances between Xiaomi and Huawei in the mobile phone market have added to the gunpowder between Xiaomi SU7 and Zhijie S7.

In April, Zhijie S7 sold 5,012 units, a month-on-month increase of 56.7%, but more than 2,000 units less than the sales of Xiaomi SU7 in the same period.

The poor sales of the Zhijie S7 may be partly due to capacity issues. On March 15 this year, Yu Chengdong, Executive Director of Huawei, CEO of Device BG, and Chairman of Intelligent Vehicle Solution BU, publicly stated that due to the relocation of the factory and the shortage of chip supply, the mass production and launch of the Zhijie S7 were delayed, and it began to fully recover in April.

On the other hand, the new Zhijie S7 was released on April 11, so it has accumulated a lot of waiting users, and the market is still in a period of adjustment.

In order to deal with Xiaomi SU7, Zhijie S7 has also made many responses, and its new model with the same configuration has reduced the price by 20,000 yuan compared with the old model. In addition, after the launch of the new Zhijie S7, in order to "cut off" the order of Xiaomi SU7, Zhijie took out a cash subsidy of 5000 yuan to the owner of the Xiaomi SU7 order, competing for the latter user.

But for now, the first leg between the two sides officially clashed, and Xiaomi won.

The Xpeng P7 may be the most overlooked of the Xiaomi SU7's major competitors, and few car critics have compared the two models after the Xiaomi SU7 was launched. But in fact, the price positioning of the two cars completely coincides, both are coupe models, and both focus on intelligence, and their product positioning and price overlap is much higher than the above four models.

In April, the Xpeng P7 (including the Xpeng P7i) sold 2,383, up 48.4% month-on-month, but down 41.3% year-on-year, making it the worst performing model among the Xiaomi SU7 competitors.

From January to April this year, the cumulative sales of Xpeng P7 were 6,606 units, a year-on-year decrease of 36.5%, and the monthly average was only about 1,600, which was only 1/5 of the peak. Therefore, the Xpeng P7 is actually similar to the Model 3, not only in April, but in the slump for a long time.

The latest facelift of the Xpeng P7i was in March last year, and now more than a year has passed, and its main configuration is somewhat backward compared with the above models, such as the lack of 800V high-voltage architecture.

As the former sales leader of Xpeng Motors, Xpeng P7 has also tried to save sales many times in the past year. In November last year, Xpeng P7i 550 version was launched, 550 Pro, 550 Max two prices were 223,900 yuan and 239,900 yuan respectively, and the price of the entry version of the new car was reduced by 26,000 yuan; in December, Xpeng P7i announced the highest discount of 26,000 yuan for the whole system; followed by January this year, Xiaopeng announced that the maximum discount for the Xpeng P7i Pengyi version was 50,000 yuan, the comprehensive preferential price was 289,900 yuan, and the price of all models started at 208,900 yuan.

However, the declining price has not been exchanged for rising sales, and the Xpeng P7 wants to regain its footing, and urgently needs to launch a new model with more competitive products and prices. In the reality of more and more models, the margin for error left for Xpeng is getting smaller and smaller.

Summary: Xiaomi SU7 is a "catfish" that brings more incremental users

According to the data of the China Passenger Car Association, the overall growth of China's new energy vehicle market in April this year was 28.3%, of which the year-on-year growth of pure electric vehicles was only 10.1%.

In April 2023, only the Model 3, ZEEKR 001 and Xpeng P sold more than 3,000 units in July for 20-300,000 yuan pure electric cars, and their total sales were 23,723 units.

In April this year, except for Xpeng P7, the sales of the above five models exceeded 3,000 units, and the total sales of these five models reached 32,229 units, a cumulative year-on-year increase of 35.8%, much higher than the growth rate of new energy vehicles and pure electric vehicles in the same period.

In the past, a major challenge faced by the new energy market of more than 200,000 yuan was that pure electric vehicles were limited by the brand, battery life and other reasons, almost only Tesla Model 3 and Model Y two popular models, and the ideal and Wenjie models with high sales of independent brands focused on extended range models.

Now the addition of Xiaomi has significantly boosted the EV market at this price point, which is obviously a good thing for the entire industry. After all, only by making the cake bigger first can each family get enough cakes. Moreover, there is no winning general in the market, Xiaomi's current scenery does not mean that it will be able to have the last laugh, and other car companies still have a way to deal with it.

From this level, despite the growth of some models and the decline of others, the overall market of 20-300,000 yuan pure electric cars has gained a greater increment.

Therefore, the circle-breaking effect brought by Xiaomi SU7 has made many people who originally did not pay attention to electric vehicles become potential users of pure electric vehicles, which in turn has promoted the rapid growth of the entire 20-300,000 yuan pure electric car market. This is not a bad thing for Xiaomi and its competitors.

In general, high competition is not only conducive to car companies to improve product strength, but also allows users to buy the desired models at a more favorable price. Although the competition is cruel, it can only "suffer" the car companies.

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