On February 24, Dong Yudong, CEO of Great Wall Motor Company Limited(601633) 's Euler brand, said in a statement on Euler's official app that "the black cat and white cat stopped receiving orders, not stopping production. We did encounter difficulties".
Prior to this, on February 14, Euler brand issued a notice to the terminal that black cat and white cat stopped receiving orders. "In the environment of lack of core and less power, based on the current production capacity, if we continue to receive orders, the delivery of new orders will have to wait until the second half of 2022." Dong Yudong explained the reason why he stopped receiving orders. In addition to the long delivery time, more importantly, "take black cat as an example. After the sharp rise in raw material prices in 2022, black cat lost more than 10000 yuan per unit."
Euler black cat and white cat, as two A00 models within 100000, have relatively low profits. In the case of declining subsidies and chip shortage, there is a situation of "selling one and losing one". "Although the industry generally believes that the chip supply is improving, in fact, it is still selling at a competitive price. Whoever gives more money will give it to whoever. Such models with low profits can only be sold at a loss." A person familiar with the matter told the associated press.
booking users wait for 4 months
The financial Associated Press reporter saw on Euler's official app that such a statement is not enough to calm the complex mood of many booking users who have waited until now since October last year.
"It's been more than four months now. After waiting so long, it's neither refundable nor non refundable. I don't know when to deliver the car." A user who booked Euler black cat posted a post on Euler app complaining.
There are many similar posts and messages on the app, and what's more troublesome is that many users in the purchase restriction area are also facing the risk of expiration of new energy vehicle indicators. "The salesperson said he could pick up the car years ago, but he hasn't mentioned it yet." One user said.
"Unsubscribe matters can be communicated with the store." Euler customer service said. However, some users are worried that it will cost more to unsubscribe now and buy other models under the condition of general price increases in the new energy market.
As Dong Yudong said, "it's a helpless move to stop receiving orders". Euler black cat and white cat are the sales responsibility of Euler brand. In 2021, the cumulative sales volume of Euler brand was 135000, with a year-on-year increase of 140%. Among them, the sales volume of black cats was 69018, accounting for 51.11%; The sales volume of white cats was 19026, accounting for 14.09%, and the total sales volume of the two models accounted for more than 65%.
"At present, black and white cats are mainly due to the insufficient supply of chips in esp." Dong Yudong said that last week, Great Wall Motor Company Limited(601633) three senior executives, including Chairman Wei Jianjun, went to Shanghai in person, "we have been on the way to urge the core."
Many industry organizations said that the shortage of chips has begun to improve gradually, and judging from the initial annual output of Volkswagen, Toyota and other giant car companies, they also have the trend of fighting a turnaround this year. But there is a deeper logic behind Euler's abandonment of orders for popular models because of a shortage of chips.
profit space has been compressed again and again
The low profit is the common dilemma faced by many A00 models, including Euler black cat and white cat.
Market information shows that the chip market is still at a high level, "a chip manufacturer's chip with a few yuan has been fired to 2800 yuan." The person familiar with the matter told reporters.
In addition to chips, the rising price of power batteries used in new energy vehicles has also become the norm. At the same time, subsidies for new energy vehicles have declined, reducing the profits of new energy vehicles again. Take black and white cats as an example, their bicycle subsidy will be reduced by 3900-5400 yuan.
Many car companies choose to raise the price, and another good cat product of Euler has also launched the price protection policy. After the price protection policy is over, the official guidance price of its bicycle will be increased by 5400 yuan. However, the black cat and the white cat win by their cost performance. "If the price increase is announced again, I'm worried that consumers will not buy it." An Great Wall Motor Company Limited(601633) insider said.
In fact, the A00 class new energy vehicles launched by major automobile enterprises not only have to shoulder the task of "walking volume", but also have the consideration of automobile enterprises under the "double points" policy. There are two voices in the industry about the price of points in 2022. One is that "the price of points in 2022 is higher, which is expected to be 6000-10000 yuan / minute"; The other believes that "points may become relatively worthless in 2022".
Previously, Dong Yudong said that the overall sales volume of new energy vehicles increased by 169.1% last year, and more and more points were generated in the new energy market. According to Dong's judgment, the unit price of "double points" this year may be between 500-800 yuan. Under such anticipation, Euler finally chose "broken arm".
It is also a common practice for car companies to provide less affluent chips to more profitable products. Before stopping receiving orders, Euler has begun to transform upward. Following the good cat, Euler's products cover the A-level to B + markets, and their positioning and price are higher than those of black cat and white cat.
"Ballet cat, lightning cat, punk cat and other new cars will be listed in the second and third quarters of this year, but the specific time of listing also depends on the preparation of materials." The above Great Wall Motor Company Limited(601633) insiders disclosed to reporters.
