Tesla promotes price reduction and points reward promotion methods
On October 24, Tesla China suddenly announced the adjustment of its price, of which the starting price of Model 3 was reduced to 265,900 yuan. The starting price of Model Y has been reduced to 288,900 yuan, returning to below 300,000 yuan. Among them, the Model Y long-range version has been adjusted to 357,900 yuan, with a price reduction of 37,000 yuan, which is the version with the highest reduction this time. In addition, in order to increase promotions, Tesla China has also launched a point reward policy. Whether it is a Tesla owner or a prospective owner, after recommending friends successfully pick up the car, they will have the opportunity to enjoy the recommendation benefits such as points exchange gifts and superimposed gifts.
Yicai Comment: Recently, Tesla released its third quarter financial report this year. Although Tesla's revenue and operating margin hit record highs in the third quarter, it was lower than the previous expectations of Wall Street analysts. This is directly related to Tesla's lower than expected delivery volume. In the first three quarters of this year, Tesla delivered 908,600 vehicles, but its annual target was 1.4 million vehicles, only 65% of the annual target. To achieve the annual target, Tesla's delivery volume in the fourth quarter of this year will reach nearly 500,000 vehicles, which is a arduous goal. In addition, some industry insiders also pointed out that due to the impact of the economic environment and competition among peers, Tesla expects the growth rate of demand to begin to slow down, and the order reserves and store entry volume have declined. To stimulate demand growth, Tesla fired the first shot to cut prices.
1 new energy retail sales in October are expected to decline by 10% month-on-month
On October 24, the China Passenger Car Association announced that the retail sales of narrow passenger cars in October are expected to be 1.91 million, and will increase by 11.4% year-on-year and 0.7% month-on-month; among them, the retail sales of new energy vehicles are expected to decline by 550,000 vehicles, a year-on-year increase of 73.5% year-on-year and 10% month-on-month. The penetration rate of new energy vehicles will also drop from 31.8% in September to 28.8%. This is mainly because the top manufacturers are affected seasonally.
Yicai Comment: Under the pressure of the annual target, many manufacturers have increased their promotion efforts. In mid-October, the overall market discount rate of passenger cars was about 14%, and the overall price expanded compared with the previous month (13.7%). Affected by this, the China Passenger Car Association believes that based on the October retail target survey, the year-on-year growth rate of manufacturers accounting for about 80% of the overall market reached double-digits. In addition, the epidemic situation in October has repeated, and the auto market is under certain pressure. Whether it is a narrow passenger car or a new energy vehicle, the month-on-month growth rate in October has turned from positive to negative, especially for new energy vehicles, with a month-on-month decline of 10%. However, the China Passenger Car Association predicts that as the end of the year approaches, new energy production capacity will be further released, new products will be launched in batches, and manufacturers will accelerate the distribution of new cars. Stimulated by the expiration of national new energy subsidies and local license policies, consumers will purchase in advance at the end of the year, which will provide strong support for the overall new energy vehicle market.
Lynk & Co 09 EM-P1 Yuanhang Edition is officially launched
On October 23, Lynk & Co announced that the high-performance intelligent hybrid electric SUV Lynk & Co 09 EM-P Yuanhang Edition is officially launched. Lynk & Co 09 EM-P Yuanhang version offers two versions: AM and PM, among which the PM version has an equity price of 349,800 yuan, and the AM version has an equity price of 339,800 yuan. Lynk & Co 09 is a flagship SUV launched by Lynk & Co at the end of October last year. The launch of this car has allowed Lynk & Co to enter the price range of 300,000 yuan for the first time, which shows its importance. The addition of Lynk E-Motive, the smart electric hybrid technology of Lynk 09, also indicates that Lynk E-Motive has entered a new stage of full electrification.
Yicai comment: In terms of electrification, Lynk & Co actually prepared very early. It began to deploy hybrid models in 2018, and Lynk & Co PHEV models began to be sold to Europe in 2020. In June this year, Lynk E-Motive released Lynk E-Motive, the first oil-electric hybrid vehicle under this technology, and brought the 01 EM-F. According to the plan, Lynk E-Motive products will be launched in the second half of this year, including the Lynk E-Motive version released this time, achieving full coverage of electrification of main products. Within two years, Lynk and Co will launch three more hybrid models; by 2025, all Lynk and Co products will be equipped with Lynk E-Motive technology to achieve electrification of all products.
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