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

The phone will be delivered in September.

Author | Wang Lei, Cao Tingting

"there are no new models in Weilai next year."

On the evening of August 29, Li Bin made it clear in a conference call on the second quarter that there would be only regular product improvements in the coming year.

In this case, digesting existing products has become a top priority, and Weilai also gave sales guidance for the third quarter-55000-57000 vehicles.

This means that with monthly sales exceeding 20,000 in July, the level of 20,000 will not be maintained in August and September. However, in Li Bin's view, this is just a transition, and Lulai's goal is to deliver 30,000 vehicles a month.

Delivery data aside, Weilai's second-quarter results are not very good.

Because of the low sales in April and May, Weilai's operating income in the second quarter was 8.77 billion yuan, less than the 9.254 billion yuan expected by the market and 14.8% lower than the same period last year.

Source: Weilai's quarterly gross margin was only 87 million, down 93.5% from the second quarter of 2022, and the overall gross margin also fell to 1%, compared with 13% in the same period last year.

Sell more cars in order to make more money, how to sell the car, has become the next strategic focus.

01. Why can't you sell well by digging up sales from BBA?

Li Bin explained that the number and ability of sales staff in Xilai lags behind its competitors and cannot meet the demand for selling 7-8 models at the same time. The sales team of BBA is 6 times that of Weilai, and the sales team of the new force of car building will also be twice as large as that of Wei.

Wei Lai's approach is to recruit a wide range of sales. Li Bin said that the sales team of Weilai needs to reach about 5000 people in order to achieve the same sales ability as its peers.

Indeed, the Super Lab learned from the Weilai delivery Center that the sales staff of Weilai is expanding rapidly.

We have already sold 30 stores, and we are still recruiting them. Li Wei, a salesman at a Weilai center in Shenzhen, said that since Wei came to adjust rights and interests, after the price was reduced, the store began to recruit more sales staff rapidly, and the number began to double in a short period of time from the initial 13 people in the store.

Source: Super Electric Lab he came to this store in 2021 and can be regarded as an "old man". Two years ago, the number of sales consultants in the store was less than 10, but later it stabilized at 12 or 13. Since mid-June, Weilai has begun to recruit and sell widely. At present, the number of people in the store has expanded to more than 30. "there are still a lot of people coming for interviews every day."

Most of these new consultants are job-hoppers from BBA and other auto companies. "they may have heard that the sales commission has been adjusted."

Since Wei came to announce the adjustment of rights and interests, Li Weiming obviously felt that more people asked about cars and more people bought cars.

In July, he sold a total of 22 cars, ranking second among the sales consultants in the store, far from the first place, and his store can sell about 30.

Along with sales, there is also a high commission. At present, the commission of scheduled cars, existing cars and exhibition cars has been greatly increased. The higher the car price, the more the commission. The commission for a car ranges from 1500 to 2000 yuan, and the commission for inventory cars and exhibition cars will be even higher.

Source: Weilai for these sales staff, after the sales volume, the commission and income are indeed more. If they sell well, there is no problem with a monthly income of 50,000 yuan.

Also since last month, there has been constant news that Weilai's monthly sales salary is more than 100000 yuan, and some even reach hundreds of thousands.

Although it is not as exaggerated as online, wages are indeed rising. The temptation of these real gold and silver also makes the sales of BBA begin to turn to Wei.

But there are two sides to everything. As more and more sales join the company, polarization may be inevitable. Sales consultants have a monthly minimum sales assessment, stores have a final elimination system, and sales that continue to fall short of standards will face dismissal.

Li Wei said that his store is very curly, with a minimum of eight per month, and if it is not finished for three months, he may have to "see you again".

In the case of continuous updates and iterations of the sales team, Weilai plans to complete this sales capacity building by the end of September, and the results of sales capacity building begin to show gradually from October.

02. The Alps will be available next year, although there will be no new cars next year, but the Alps will have them.

It has been revealed that the Alps will release its first model in the second half of next year, and the research and development of the new model is going as planned. The TT model (production line verification car) has been taken off the line. "this model will be very competitive and the second car under the brand is already under development."

Li Bin said that Alps is aimed at the mass market brand, its development concept is different from that of the future, the brand will not have many models, will pursue the sales of each car more, and will focus more on the home market.

It also means that every model in the Alps will carry the banner of sales in this segment.

Previously, according to 36 krypton reports, the Alpine brand will focus on the mid-market of 20-300000 yuan, with direct competitors from Tesla, Toyota and Volkswagen.

And the first Alps model will be a car, the new car will use Wei from the research, self-produced new generation of single motor.

Source: many people do not agree with the information that the first model of the Alps is a car. @ Wu Ying and @ Dehalai point out that as far as they know, the Alpine test car is more like an SUV.

Shen Fei, senior vice president of Weilai Energy, revealed as early as the beginning of the year that all Alps models are based on 800V high voltage architecture, and the brand's battery pack will be thinner than Weilai's.

As for the battery pack, there is speculation that the new Alpine car will carry batteries of both 60kWh and 90kWh capacities and are compatible with the existing third-generation power stations.

03, with the delivery of mobile phones in September, with the gradual emergence of the sub-brand of Ulai, the mobile phones of Ulai are going to meet with you.

For the mobile phone business, Li Bin made a separate introduction at the earnings meeting. Weilai's mobile phone is mainly developed for new automobile users, especially for users of NT2 platform products, which is essentially based on vehicles and has a better mobility and connectivity experience.

Source: Li Bin said that the introduction of mobile phones can help improve the competitiveness of Xilai Motors. It is not to compete with mobile phone manufacturers, but to use mobile phones as a carrier to provide the best experience for its users. Moreover, the underlying software and logic of mobile phones and cars have many similarities.

The most critical message is that the phone is scheduled to be delivered in late September.

Prior to this, Li Bin has disclosed a lot of information about the Lulai mobile phone, such as "basic performance is very good", no hot, power saving, long standby time. Feel quite good, the back recognition is very high a series of content.

Interestingly, Li Bin also gave those high-value consumers a vaccination, saying that the Lulai mobile phone is comparable to Android's flagship, and it is absolutely super-equipped to be an iPhone backup.

Source: first of all, but all mobile phone manufacturers must have the best sense of identity in the same level when dealing with their products. Since it is already the Android flagship machine, the positioning used as an iPhone backup has fallen behind the momentum.

In addition, Li Bin also said that because a lot of domestic Android software has been done very carefully, the experience of some small features is "estimated to be a gap between expectations."

And the Weilai mobile phone for the second-generation platform models will have a good experience on the interconnection, but the first-generation platform models are limited by the car-side hardware, some of the experience will be sacrificed.

Finally, let's review the Weilai financial report at a loss of 260000 on the sale of one.

In terms of revenue that everyone is most concerned about, revenue in the second quarter of Xilai is 8.77 billion yuan, and the market is expected to be 9.254 billion yuan, down 14.8% compared with the second quarter of 2022 and 17.8% compared with the first quarter of 2023.

The net loss further widened to 6.0558 billion yuan, up 119.6% from the second quarter of 2022 and 27.8% from the first quarter of 2023.

Judging from the available data, the cumulative net loss in the first six months of Weilai reached 10.795 billion yuan, while the cumulative net loss in the same period last year was 4.54 billion yuan, an increase of 137.77% over the same period last year.

In terms of cost expenditure, the R & D expenditure of Xilai reached 3.345 billion yuan in the second quarter, which has exceeded 3 billion yuan for three consecutive quarters, an increase of 55.6% and 8.7% respectively compared with the same period last month.

Source: at the same time, with the decline in revenue and the continued expansion of R & D costs, the gross profit of Lulai Motor in the second quarter was only 87.7 million yuan, down 93.5% from the second quarter of 2022 and halved from the first quarter of this year. In the second quarter of this year, the overall gross profit margin of Xilai fell to 1%, up from 13% at this time last year.

Based on these data, a rough calculation shows that every car sold by Weilai will lose nearly 260000 yuan, resulting in a long-lasting version of the Xiaopeng G6.

Weilai began to upgrade in April, until the end of June to the end of the product replacement period of six or three months, just full of the entire second quarter, the emergence of such a not-so-ideal report card is also expected.

As of June 30, 2023, the cash reserve of Lulai Automobile was 31.5 billion yuan, a decrease of 6.3 billion yuan compared with the first quarter. Horizontal comparison of new power competitors, ideal car and Xiaopeng car cash reserves of 73.77 billion yuan and 33.74 billion yuan respectively.

Li Bin also said on the conference call that the new product release affected the company's operating cash flow in the first and second quarters of this year. After that, some fixed asset investment and some R & D projects will be postponed, and the cash flow is expected to improve in the third quarter.

Source: Weilai also gave its highest delivery and revenue guidance in this financial report: the delivery volume in the third quarter is expected to be 55000-57000 units, an increase of 74.0%-80.3% over the same period last year; revenue in the third quarter is expected to be 18.9 billion-19.52 billion yuan, an increase of 45.3%-50.1%.

However, to achieve the target of 250000 vehicles for the whole year, Xilai needs to sell at least 110000 vehicles in the fourth quarter.

Can Weilai finish it?

This article is from the official account of Wechat: Superelectricity Lab (ID:SuperEV-Lab), by Wang Lei and Cao Tingting.

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.