分类： hanzhen

　　Zhongxin Jingwei Client, September 13th (Fu Yumei) Recently, China Automobile Finance and Hedge Rate Research Committee released "2019 China Automobile Hedge Rate Report" (hereinafter referred to as "Report"), which showed that the average hedging rate of mainstream new energy vehicles in the past three years was only 32.31%, much lower than that of traditional fuel vehicles. Judging from the one-year preservation rate of pure electric vehicles, except for Tesla, which is over 60%, the preservation rates of other models are generally low.

　　This data has attracted the concern of some new energy owners: a new energy vehicle with a starting time of more than 100,000 yuan is only worth tens of thousands of yuan a year? The current situation of low hedging rate has once again attracted the attention of the new energy used car market inside and outside the industry.

　　In the slogan of a second-hand trading market in Beijing, Xin Jingwei Fu Yumei took a photo.

　　Low hedging rate leads to the obstruction of profit space.

　　The Report takes the cruising range of 300 kilometers as the dividing line, and counts the ranking of the preservation rate of one-year-old pure electric vehicles with cruising range less than 300 kilometers and more than 300 kilometers respectively.

　　According to the "Report", among the top ten pure electric vehicles with a maximum cruising range of not less than 300 kilometers and a one-year-old car, Tesla MODEL X and MODEL S rank in the top two, with preservation rates of 68.09% and 64.75% respectively; Weilai ES8 ranked third with a hedging rate of 47.89%. Geely Emgrand sedan and Chang ‘an Yidong New Energy ranked the last two, with the preservation rates of 38.03% and 36.82 respectively.

　　Among the top ten pure electric vehicles with a cruising range of less than 300 kilometers and a one-year-old car, BMW i3 ranks first with a value-preserving rate of 46.55%. Beiqi New Energy EU260 maintains a value of 30.91%, ranking second; The preservation rate of the other eight models is below 30%.

　　Compared with fuel vehicles, the vehicle maintenance rate within three years is still basically maintained at around 59%-75%.

　　Mr. Sun, a new energy used car dealer in Beijing, told the Zhongxin Jingwei client that after a year of using a new energy vehicle, most of them have only one-third of the residual value, which is equivalent to a new energy vehicle bought at an original price of more than 100,000 yuan. Only tens of thousands of pieces can be sold when it is sold. "Many new energy owners can’t accept it when they come to consult for the first time. I don’t believe that the car that I have only been driving for one year has depreciated so much."

　　Mr. Sun pointed out that the low maintenance rate of new energy used cars also led to its profit margin being much lower than that of fuel vehicles. "The profit of new energy used cars generally does not exceed 3,000 yuan, and the circulation is not very fast. In contrast, the profit of a 5-7-year-old fuel vehicle is higher than that of a 1-year-old new energy vehicle. But if you switch to a new energy vehicle a few years ago, you can’t sell it now. "

　　Due to low profits and many restrictions, the recognition of new energy used cars in the market is not strong. During the visit to the used car trading market, the Sino-Singapore Jingwei client communicated with several dealers. They said that the business of new energy used cars is not good because of the low rate of preservation. One of the dealers still has a backlog of a 2017 JAC iEV6E recovered three months ago. The original price of the car purchased with tax was close to 140,000, and now the price is only 35,000 yuan. He said that if you want to collect new energy used cars, you must be no more than three years old. "And it is best to be the top brands such as Tesla, BAIC and BYD, otherwise it is very likely to become ‘ Trading at a loss ’ 。”

　　Photo by Zhongxin Jingwei Fu Yumei in a used car market trading area in Beijing

　　Short battery life is the "culprit"?

　　In addition to the offline trading market, the Sino-Singapore Jingwei client also found that the low-priced sale of new energy used cars has become a common phenomenon when consulting some online trading platforms for used cars. Some old models three years ago, the price is even far lower than 1/3 of the original price. So, what is the reason for such a low rate of preservation of new energy used cars?

　　Wang Yongqing, head of used car inspection technology of Youxin, told the client of Zhongxin Jingwei: "The first reason for this phenomenon is that the early electric vehicles had a short cruising range and could not even meet the daily driving needs after the batteries aged. In addition, the after-sales maintenance service of new energy vehicles has not been fully improved, and the complaint rate is high. Once some manufacturers’ vehicles are transferred, they no longer enjoy the original warranty. "

　　Jia Xinguang, executive director of china automobile dealers association, also said that compared with fuel vehicles, the low maintenance rate of new energy used cars mainly comes from their battery problems. "Even if the engine works for 3 to 5 years, the battery is facing the problem of easy aging."

　　According to the 2018 China New Energy Vehicle Industry Report released by iResearch, 40% of the cost of new energy vehicles is concentrated on power batteries. According to many new energy vehicle owners, because there is no subsidy, the cost of replacing the power battery is sometimes even similar to buying a new car. Mr. Sun pointed out that under normal circumstances, the battery life of new energy vehicles is between 4 and 6 years, and the service life of some poor quality batteries is shorter. The cost of replacing batteries determines that it cannot raise the price in the market.

　　In addition, many people in the industry report that compared with fuel vehicles, new energy used cars lack a perfect evaluation system, which is indispensable in the pricing process of used cars. Wang Xiaoyu, co-founder and vice-president of Cheduoduo Group, pointed out at the 2019 Summit on User Value and Maintenance Rate of New Energy Vehicles that the evaluation system of new energy used cars is still not perfect, especially the problem of difficult battery evaluation, which makes it face great challenges.

　　It is understood that with the development demand of the new energy used car market, many platforms have begun to explore corresponding solutions. For example, the second-hand car platform of Guazi recently announced that it has started the evaluation and research on the battery part of new energy vehicles, and established a "car with many brains" to evaluate and price used cars according to the energy consumption rate, driving range and charging efficiency of new energy vehicles. The Youxin used car platform has also begun to digitize vehicle information by means of video detection and VR, and visually present the quality of batteries and vehicle sources.

　　The speed of upgrading is fast, and the data of hedging rate remains to be seen.

　　It is worth noting that the limitation of the market size of the new energy used car itself makes the current situation of its hedging rate face uncertainty. Ding Shaoguang, head of melon seeds used car brand, told Zhongxin Jingwei client that the proportion of new energy vehicles is still too small compared with fuel vehicles, so the relative market size of new energy used cars is not large.

　　Yan Jinghui, an expert from the china automobile dealers association Expert Committee, also pointed out that the current data on the hedge ratio remains to be seen because the number of new energy vehicles entering the used car market is limited.

　　Yan Jinghui said that most of the used cars entering the new energy market are old cars with a cruising range of less than 200 kilometers. Because of the fast replacement frequency of new energy vehicles, few car owners are willing to accept used cars with too much performance difference.

　　Wang Yongqing also stressed that the second-hand cars with new energy are easy to fall behind in technology, while consumers are relatively more willing to buy models with more advanced technology.

　　In July this year, less than four months before the release of the 2019 Tucki G3, Xpeng Motors released the 2020 Tucki G3. In contrast, the 2020 driving range has increased by more than 100 kilometers, but the price is not much different. This phenomenon angered the old car owners, led to many rights protection incidents, and also made Xpeng Motors encounter the biggest crisis since its listing.

　　Yan Jinghui said that the most direct performance of new energy vehicles to launch new models is the increase in cruising range, and the old cars are easily eliminated by the market, which is one of the reasons for its serious depreciation problem.

　　Expert: The problem of hedging rate may be improved in the future.

　　In view of the market pain points faced by new energy used cars, the Report proposes that in addition to Tesla’s brand effect, businesses such as "value-preserving repurchase" and manufacturer-certified used cars provided by manufacturers have realized effective strategies to increase the channel and value-preserving rate, which plays an important role in improving the value-preserving rate of electric vehicles.

　　The owner of a new energy source in Beijing told the Zhongxin Jingwei client that he expected manufacturers and 4S stores to provide corresponding preferential services, such as replacement services, rather than directly reselling them in the second-hand market at low prices.

　　The Zhongxin Jingwei client consulted a 4S shop with a domestic new energy vehicle with an original price of 140,000 yuan, two years’ purchase and a cruising range of 200 kilometers. The staff said that the replacement price was about 30,000 yuan, but an additional subsidy of 5,000 yuan could be provided. It is understood that many 4S stores provide subsidies ranging from several thousand yuan to 10 thousand yuan for replacement services, and support cross-brand car replacement.

　　Car companies are also introducing corresponding measures. A few days ago, Weimar released a user care plan, hoping to alleviate users’ anxiety about battery performance and preservation rate through services such as vehicle replacement and upgrading, lifetime warranty of power battery, vehicle replacement and transfer.

　　"Changing electricity, repurchasing, and sharing, these measures may improve the current low value-added rate of new energy used cars." Jia Xinguang said. He also stressed that in order to improve the preservation rate of new energy vehicles, it is still necessary to focus on its biggest pain point, that is, work hard on power batteries.

　　Many people are optimistic about the future of the new energy used car market. Yan Jinghui said that with the gradual stabilization of the quality of new energy vehicles, new energy vehicles with a cruising range of more than 250 have gradually entered the used car market, and the supporting facilities such as charging piles have become increasingly perfect. With the efforts of all parties, the problem of the value preservation rate of new energy used cars will gradually be improved.

　　Mr. Sun also told the Zhongxin Jingwei client that there are not many dealers who specialize in new energy used car business like him in the Beijing used car trading market. "There may not be one in hundreds." However, he believes that under the situation that the used car market of fuel vehicles is becoming increasingly saturated, new energy vehicles that gradually enter the mainstream vision will become the future trend. He hopes to pass the current "bottleneck period" as soon as possible and seize the market share of new energy used cars before the trend comes.

　　Wang Yongqing said that at present, new energy vehicles are in a high-speed development stage, and practitioners in the new energy used car industry need to keep up with the development of the industry, respond in time, do a good job in technical iteration, and meet the needs of consumers in a series of after-sales services such as maintenance. (Zhongxin Jingwei APP)

For SAIC, Zhiji Automobile is a proper "prince", and it comes with its own aura and is highly anticipated.

Investment from SAIC, Ali and Zhangjiang Hi-Tech recently reached RMB 3 billion, with a valuation of RMB 30 billion.

At the presentation of SAIC’s 2022 semi-annual report, Zhiji was a "major strategic innovation project" of SAIC, and it was also mentioned in the semi-annual report that Zhiji Automobile was an important starting point for SAIC’s "upward development of independent vehicles".

At the beginning of the year, during the worst epidemic in Shanghai, SAIC tried its best to allocate resources to ensure that key new products such as Zhiji L7 went on sale. Zhiji Automobile has also been emphasizing the background of SAIC.

However, the sales of Zhiji L7 are not satisfactory. Since the delivery in late June, the delivery volume is not good. According to the data disclosed by the Association, in September, Zhiji L7 sold 1,019 units, and in July and August, it sold 816 units and 1,007 units respectively.

In the past, there were competitors such as Weilai, and behind them, there was a "direct biography" brother Feifan Automobile, which was about to go public. At that time, it would also seize the resources of SAIC. Can Zhiji afford to be the prince of SAIC?

In January, it sold for 1000 yuan, but it was difficult for the prince to win public support.

In September, the auto market improved.

Recently, according to the latest automobile sales data released by China Automobile Industry Association, the automobile sales volume in September was 2.61 million units, up 9.5% month-on-month and 25.7% year-on-year, maintaining a high-speed growth momentum. Among them, the sales volume of new energy vehicles reached 708,000, a year-on-year increase of 93.9%, and the market share reached 27.1%.　

Tesla’s ModelY sold 51,802 units in September, holding the top spot. The top 30 models have sold more than 5,000 vehicles per month. Among the new forces making cars, Ideal L9 sold 10,123 units. In the pure electric vehicle market with a price exceeding 400,000 yuan, the sales volume of Weilai ET7 in September was 2,928.

"ZhiJi monthly sales of one thousand, must be failed. Although it is said to be a high-end positioning of around 400,000, it will take thousands of units a month, which is similar. " Mr. Zhou, an insider of the car circle, said.

The sales volume is bleak. Besides the brand has just started and its popularity is not high, Zhiji’s investment in channel construction is not strong, which is also an influencing factor.

According to the statistics of Lujiu Business Review, Zhiji has about 40 experience centers and about 35 delivery centers in China. This kind of coverage network is somewhat inadequate.

Taking Beijing as an example, Lu Jiu’s business review learned that Zhiji has only four experience centers in Beijing. Among them, Beitou Shopping Garden Store has just opened on National Day. In contrast, LI has 18 stores in Beijing. Weilai Automobile has 21 stores in Beijing.

Not only that, in terms of distribution channels, Zhiji is also relying on SAIC. During the visit, Lu Jiu’s business review found that several Zhiji sales points in Beijing were made by traditional 4S Buick dealers.

For example, Wangfujing APM store, Zhiji automobile and Buick dealer Gadalai cooperate. Take the mode that Zhizhi pays to rent the storefront, and the dealer hires people to be responsible for the management.

This is somewhat similar to Huawei’s channel vendors, but slightly different. The M5 and M7 sample cars displayed in Huawei Experience Store are all purchased by the store owner himself. The sample cars in Zhiji’s store are directly provided by Zhiji, and dealers do not need to pay for them themselves.

Users book cars online, dealers take sales commissions, and deduct employees’ sales commission and marketing expenses, which is their own profits.

"Zhiji is like this, in order to reduce the pressure on dealers. If you pull the dealer alone, the cost will be invested. If the sales volume does not come up, it will be very troublesome later. " Mr. Zhou said.

When some car companies push new products, they will "apportion" the dealers, and at the same time, they will take some newly pushed models while entering those models that sell well. Mr. Zhou believes that Zhiji’s approach is somewhat similar to this method.

In addition, Zhiji is also conservative in brand investment. "SAIC is a state-owned enterprise, and its budget is very strict, so there are fewer advertisements." The sales staff of Zhongguancun exhibition shop told Lu Jiu’s business review.

If the sales volume does not come up, the turnover of sales staff will be great. "The basic salary of sales is 4,000 yuan. We can probably get 800-1000 yuan when we sell a car. Especially in the past few months, sales have not yet started. Some salespeople can’t sell cars, so they get a basic salary. The pressure in Beijing is great. He left without moving." The sales of Liu, who led the exhibition at Heshenghui, said.

In view of the current sales situation, what further measures does Zhiji have? Lu Jiu’s business review asked Zhiji’s official about this, but as of the time of publication, he didn’t get a reply.

02 35-400,000 range

The prince’s tough battle is not easy to fight.

As the "No.1 Project" of SAIC, Zhiji Automobile has high hopes. SAIC hopes that the Prince will fight hard and attack the independent luxury car market that the Group has not been able to win.

SAIC defines Zhiji as a high-end luxury brand. In the company’s 2021 annual financial report, there is such a description: through the listing of new products such as Zhiji, SAIC Audi and Cadillac, the product camp of luxury brands is further strengthened.

In terms of vehicle size, price and configuration, the target of Zhiji L7 is Weilai ET7. The models with two configurations of Zhiji L7 are priced at 368,800 and 408,800 respectively; The price of Weilai ET7 is about 450,000 to 530,000.

"Wisdom has more control and performance. We call this car the control involution king, which is a bit niche and biased towards those who like to play with cars. " A sales person surnamed Ren told Lu Jiu Business Review.

"We are cheaper than ET7. ET7 is mainly expensive in its service, because they have power exchange service. These are all costs, which will ultimately be reflected in the price of the car." He said that at present, Zhiji L7 has no power exchange service, so the price is cheaper than Weilai.

Compared with Zhiji, Weilai started early, has a strong brand influence, and relies on the unique positioning of "car as a service" to form a strong user stickiness.

In terms of sales volume, there is also a considerable gap between Zhiji L7 and Weilai ET7. Weilai ET7 sold 2,928 units in September and 4,349 units in June.

The prices of two products of Zhiji L7 have reached the price range of BBA. According to public information, only Weilai can occupy a place in the market segment of 350,000-400,000 yuan.

Hi-Tech Intelligent Automobile Research Institute believes that this road of Zhiji is very difficult. The top matching of Zhiji L7 with a price of 408,800 yuan is the model range of BBA, and the general effect will not be very good if the top matching is used to play the low matching of joint venture brands.

Tamia Liu, CEO of Zhiji Automobile, once said: "It is miserable and helpless for users who spend more than 400,000 plus tax close to 500,000 to buy BBA."

Today’s Zhiji car, the differentiated competition has not been shown, but the price and positioning have kept up. This kind of unsynchronization has the most intuitive appearance in sales volume. Although relying heavily on the brand and production and supply resources of SAIC, as an independent luxury brand, Zhiji lacks sufficient persuasion.

Can brothers still sit still when they are competing for the crown prince?

In the past, there were independent brands such as Weilai and many joint venture brands. Behind them, Zhiji Automobile also faced the resource competition of another brother, Feifan Automobile.

Feifan Automobile is an R brand wholly owned and operated by SAIC and its employees, and it is also a brand within SAIC. In contrast, Feifan car is more like a "prince" than Zhiji.

In the planning map of SAIC, it is Zhiji Automobile and Feifan Automobile that promote the development of independent brands. Moreover, Feifan Automobile, like Zhiji, is also a "major strategic innovation project" of SAIC.

Tamia Liu, co-CEO of Zhiji Automobile, has served as an important manager in various positions of SAIC, and has served as product manager, director of market operation department, director of product planning and deputy general manager of quality and economic operation department.

Wu Bing, CEO of Feifan Automobile, has 20 years working experience in SAIC. According to public information, Wu Bing has successively held important positions in several subsidiaries of SAIC-GM, Shanghai Automotive Group Insurance Sales Co., Ltd. and Xiangdao Travel.

Backed by SAIC and endorsed by SAIC is the basic strategy of Zhizhi. In Zhiji’s sales store, the words "Ali makes cars, SAIC quality" are particularly eye-catching.

In manufacturing, Zhiji also relies on SAIC platform. "SAIC has many resources, including the rear wheel steering technology of the car, the design of the chassis, chips and hardware equipment, all relying on SAIC’s supply chain." Ren surnamed sales of Zhongguancun exhibition shop said.

On September 22nd, SAIC announced that it will jointly invest with China Petrochemical, China Petroleum and Contemporary Amperex Technology Co., Limited to establish Shanghai Jieneng Zhidian New Energy Technology Co., Ltd., and will build charging piles at 50,000 gas stations nationwide.

Zhiji characterized this news as good for car owners, and all sales points made publicity signs: "Zhiji’s energy replenishment system will be expanded again, and relying on Jieneng Zhidian, a subsidiary of SAIC, we will fully promote the strong upgrade of the charging network."

Flying every car is the same strategy.

Wu Bing, CEO of Feifan Automobile, was also deliberately highlighting the resources of SAIC in an interview. It has always been emphasized that Feifan Automobile does not start from scratch, "but is carried out on the basis of SAIC’s huge resources".

On September 22nd, SAIC cooperated with PetroChina, Sinopec and Contemporary Amperex Technology Co., Limited, and Feifan Automobile also served as its own resource. Moreover, compared with Zhiji, Feifan and Jieneng Zhidian have a closer relationship.

"SAIC is in a difficult time now, and it is in urgent need of independent brands to do it as soon as possible. In the past, independent brands had a habit of having more brands, having more children and fighting, and the east was not bright and the west was bright. " Mr. Zhou said.

Although Wu Bing has been saying that Fei Fan and Zhi Ji do not constitute competition, in fact, the competition between them is inevitable.

The first is the competition for resources.

Feifan automobile is positioned at the high end, and Zhiji automobile is positioned at the high end. However, the price difference is not very big. The price difference between Feifan and Zhiji is about 50,000 yuan. As two independent new energy brands under SAIC, there is inevitably competition in the undertaking of SAIC brand resources.

In addition, the positioning of the two brands will overlap in the future.

The news learned by Lu Jiu’s business review is that Zhiji will launch a B-class car next year, which is the model that the company wants to take. This B-class car will have direct competition with Feifan.

"In fact, the L7 car is not a real car, it is a brand car. The real car is the B-class car released next year, and the company plans it like this. " "Just like Tesla, the earliest model started at 800,000, and then there were 300,000 models up and down," said Ren, a salesman at the Zhiji exhibition store.

Sales staff revealed that the B-class car released by Zhiji next year will be marked with ET5, Mmodel 3 and other models, which is Zhiji’s brand strategy.

Feifan R7 will be delivered at the end of October, and when the market runs away for some time, especially next year, Zhiji will launch a B-class car, when the two brands will directly fight.

If Feifan’s car sales are improving, SAIC will have to adjust its resource allocation in the case of tight resources.

To prove that he can be a "prince", Zhiji’s time is running out.