Shulou(Shulou.com)11/24 Report--

At the beginning of 2023, Tesla dropped a blockbuster on the new energy vehicle market.

On January 6, Tesla's official website announced that the prices of Model 3 and Model Y sold in China would be reduced by up to 48000 yuan. Among them, the starting price of Model 3 dropped to 229900 yuan, making it the lowest price in history for Tesla models, and the starting price for Model Y dropped to 259900 yuan.

The price of Model 3 rear drive version is 229900 yuan, with a price reduction of 36000 yuan. Expected delivery date: 1-4 weeks.

The price of Model 3 high-performance version is 329900 yuan, with a price reduction of 20,000 yuan. Expected delivery date: 1-4 weeks.

The price of Model Y rear drive version is 259900 yuan, with a price reduction of 29000 yuan. Expected delivery date: 2-5 weeks.

The price of Model Y long-lasting version is 309900 yuan, with a price reduction of 48000 yuan. Expected delivery date: 2-5 weeks.

The price of Model Y high-performance version is 359900 yuan, with a price reduction of 38000 yuan. Expected delivery date: 1-4 weeks

For the price reduction, Tesla Vice President of Foreign Affairs Tao Linfa Weibo said: "behind Tesla's price adjustment, there are numerous engineering innovations." in essence, it is a unique excellent law for cost control: including not limited to vehicle integrated design, production line design, supply chain management, and even optimizing robotic arm coordination routes in milliseconds. Proceed from the 'first principle' and insist on pricing at cost. Respond to the national call with practical actions to promote economic development and unleash the potential of consumption. "

However, the old car owners don't seem to buy it. Under Tesla's latest official price reduction Weibo, many old car owners left messages and complained: "bought for a day, reduced by 30,000, do not give an explanation?" , "reduced by 60,000 in three months", "asking for subsidies to old car owners to overcharge, and so on." Even online, there are rights groups organized by old car owners to go to Tesla offline stores to pull banners to safeguard their rights.

In response to the question of whether Tesla's old car owner has price protection measures, some media consulted Tesla's Chinese customer service as the car owner, who said that if the car owner has placed an order but did not mention the car, he can choose between the current official website price and the order price, but it will conflict with the previous subsidy policy. If the car owner has mentioned the car before the price reduction, he will not be able to enjoy the above policy, and it is less likely to have a relevant compensation policy.

With many price cuts in a short period of time, Tesla's bicycle profit is higher than that of BBA. In fact, this is Tesla's fifth official price reduction since October last year, but this time the price reduction is really tough enough.

On October 24, 2022, Tesla officially announced a price reduction for domestic models, with the Model 3 rear-drive version reduced from 279900 yuan to 265900 yuan and the high-performance version from 367900 yuan to 349900 yuan. The Model Y rear drive version dropped from 316900 yuan to 288900 yuan, the long-lasting version to 357900 yuan, and the high-performance version to 397900 yuan.

On November 8, Tesla official Weiwei said that Tesla's current car insurance subsidy program for time-limited pick-up has been put online. Among them, from November 8 (inclusive) to November 30 (inclusive), purchase the car insurance combination of existing cars and cooperative insurance institutions and complete the pick-up on schedule, the final payment can be reduced by 8000 yuan; from December 1 (inclusive) to December 31 (inclusive), the final payment can be reduced by 4000 yuan.

On December 7, Tesla pushed another 6000 yuan subsidy, from that day to December 31, to buy a qualified Tesla car and complete the delivery, users will enjoy an additional 6000 yuan subsidy.

On January 1, 2023, Tesla launched another discount activity, from January 1, 2023 to February 28, 2023, to complete the delivery of new car orders for Model 3 and Model Y, you can not only get a delivery incentive plan of 6000 yuan, but also get an insurance subsidy of 4000 yuan. In addition, there is also an interest rate discount program for car purchase by installments.

According to Sandalwood vehicle monitoring data, Tesla delivered a total of 41993 new cars in China in December, of which 30823 were delivered by Model Y and 11170 by Model 3, down sharply from 60735 in November.

In addition, in the third quarter of 2022, Tesla produced a total of 365000 cars, delivered 343000 vehicles, 22000 higher than delivery; in the fourth quarter of 2022, Tesla produced 439700 vehicles, delivered 405300 vehicles, and produced 34400 vehicles higher than delivery.

For the whole year of 2022, Tesla produced a total of 1.3696 million cars and delivered 1.3139 million vehicles, which was 55700 higher than that of delivery. Although sales increased by 40% year-on-year, it fell short of the growth target of 50%.

From these data, it is not difficult to see that overcapacity and oversupply is the root cause of Tesla's price reduction. In the face of the huge capacity of Tesla Super Factory, we must increase market demand by reducing prices. However, Tesla does have this capital. After all, Tesla is the car company with the highest bicycle profits at present.

According to Tesla's financial report for the third quarter of 2022, its net profit was $3.292 billion and car sales were 343800. It is roughly estimated that Tesla's bicycle profit reached $9575, or about 69000 yuan, with a gross profit margin of 25% to 30%, while BBA's gross profit margin is generally less than 20%, far less than Tesla.

Although the price reduction is relatively large, it is speculated that after the price reduction, Tesla's gross profit margin for bicycles can still reach more than 20%, which is still higher than BBA, so Tesla still has room to reduce prices in the future.

New energy subsidies end superimposed Tesla price cuts, new energy car companies had a rough start to the year, and domestic new energy car companies had a hard time at the beginning of 2023. The "national subsidy" of new energy vehicles, which has lasted for 13 years, officially withdrew from the historical stage at the beginning of the new year. In the face of the lack of subsidies of thousands or tens of thousands of yuan, the vast majority of car companies have no choice but to raise prices.

BYD announced at the end of November last year that it would adjust the official guidance prices of its related models from January 1, ranging from 2000 yuan to 6000 yuan. After BYD, GAC also announced that it would raise the official price of its models from January 1, ranging from 3000 yuan to 8000 yuan, due to factors such as the termination of new energy subsidies and the rise in the price of raw materials such as batteries.

In addition, car companies such as Nezha, Chery, Changan, Volkswagen and BMW have also raised the prices of their new energy vehicles one after another.

In the face of the withdrawal of state subsidies for new energy, car companies have already faced a lot of pressure, and Tesla's price reduction happened to take place at the beginning of the year. It can be predicted that the order volume of domestic new energy vehicle enterprises will be affected in a short period of time.

After Tesla's price reduction, the price of Model 3 and Model Y has been pulled directly to the most competitive price of 20-300000 yuan for new energy vehicles. At this price, BYD Han and Seal will face direct competition from Model 3, especially the sports BYD Seal has a lot of overlap with Model 3 in product features. After this price reduction, some consumers may give up buying BYD because of Tesla's brand halo.

For BYD, which has sold more than 1.8 million vehicles this year, the impact is limited. However, it is even worse for the new power brands, which are still losing money, because they are unlikely to follow up on price cuts.

Rough statistics show that the models in this price range include Xiaopeng P7, Xiaopeng G9, Polar Krypton 001, M5, Nezha S, Zero run C01, Polar Fox Alpha S, Euler Lightning Cat, Feifan R7 and so on.

In the face of Tesla's price reduction, the pressure on these models is bound to increase, and the test of 2023 will begin.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.