Still moist in 2022?
First, let's look at the financial report data.
In 2022, the total delivery volume of Xpeng vehicles was 65,438+020.757, an increase of 23.0% compared with 2026,5438+0.
The total revenue in 2022 was 26.86 billion yuan, an increase of 28% compared with 20.99 billion yuan in 20021year. The net loss in 2-22 years is 910.40 billion yuan.
In the fourth quarter of 2022, the total revenue was 510.40 billion yuan, down 39.9% year-on-year and 24.7% quarter-on-quarter. In the fourth quarter, Xpeng delivered 22,204 vehicles, down 46.8% year-on-year, of which Tucki G9 delivered 665,438+089 vehicles in the fourth quarter.
The income from financial reports and other aspects was 480 million yuan, up 29.9% year-on-year and down 65,438+07.7% month-on-month. The quarterly sales cost was 4.7 billion yuan, down 37.7% year-on-year and 20.4% quarter-on-quarter.
The quarterly gross profit margin is 8.7%, and the quarterly R&D expenses are 654.38+23 million yuan. As of June 65438+February 3, 20221day, Xpeng Motors had a capital of 38.25 billion yuan.
With the increase of transportation capacity, the throttling is effective.
Judging from the overall financial report, Xpeng Motors showed mixed messages. First, let's look at the sad side.
In the fourth quarter of 2022, G9 got off to a bad start, which was closely related to the word-of-mouth dispute at the beginning of listing. Fortunately, Tucki G9 delivered 4,020 vehicles in June, 5438+February, up 160% month-on-month, showing that the production capacity is rising. At the same time, in the earnings conference call, He Xiaopeng also mentioned that he will continue to invest in two production bases this year to build three vehicle platforms and improve delivery capacity.
From the positive signal, Tucki's proposal of reducing costs and increasing efficiency in the third quarter of 2022 has achieved initial results. In the fourth quarter, the operating cost of Tucki was 4.695 billion yuan, a year-on-year decrease of 37.67%, which was also lower than the 7.533 billion yuan in the third quarter. From the data point of view, sales and management expenses have decreased, and only the investment expenses of R&D have increased. On the night of March 17, the share price of Tucki U.S. stocks rose sharply, once rising by more than 13%, and finally closed at 6. 12%. Judging from the high share price, the market is also full of hope for the future of Tucki. In the earnings conference call, He Xiaopeng repeatedly mentioned economies of scale, capacity growth and cost control, which also won the trust of investors in some aspects. At present, what Xpeng motor needs to do is how to fulfill its promise and meet the market's expectations of Xpeng motor.
At the financial report meeting, He mentioned that in the past, technology research and development mainly focused on performance and function, but in the future, the R&D ability of Xpeng Motors will be reflected in maintaining performance while greatly reducing costs, and through technological innovation, configuration optimization and other means, the cost of vehicle hardware power system will be reduced by about 25%.
Tucki G6, which will be unveiled at this year's Shanghai Auto Show, will also adopt integral die casting, and the packaging cost of the whole vehicle can be reduced by 40-50% through new methods. The battery core will also adopt the platform design. The cost will also drop significantly; In 2024, the Bom cost of XNGP software and hardware will also drop by 50%. At the same time, as the prices of various raw materials return to a reasonable level, it is believed that Tucki will also bottom out and rebound, pushing up profits and income. In this regard, Xpeng Motors also plans to turn losses into profits in 2025.
At present, Tucki still has two years. Does Xpeng Motors have sufficient defense? As mentioned earlier, by the end of 2022, Tucki will have 38.3 billion yuan in cash, 43.5 billion yuan at the end of 2 1, and 5.2 billion yuan will be burned every year. At this rate of burning money, it won't be a problem for Tucki to last for three or four years, and it can also ensure the normal experience and the pace of new product launch.
The reform is in full swing and unbreakable.
I believe people who are concerned about the automobile industry know that in the past few months, internal reforms in Tucki have been in full swing, involving personnel, organizational structure, brand promotion and so on. And this information was also put on the table for discussion at this financial report meeting.
The first question is: What changes did the airborne in Wang Fengying bring to Xpeng?
Since Wang Fengying took over as President of Xpeng Motors, he has been mainly responsible for product planning, matrix and sales organization. Although Wang Fengying has only been in Tucki for more than a month, many substantial changes have taken place in Tucki.
First, there are relevant media reports that the internal marketing system of Xpeng has been transformed. In the internal organization and management structure, auto trade and UDS channels have merged. In terms of sales system, the sales areas of two major domestic channels have been removed, and more than 20 sales districts have been re-divided nationwide. Direct stores and authorized dealers in each community are responsible for the community.
Previously, Xpeng automobile adopted a mixed mode of "self-built direct sales+authorized dealers joining" in the terminal network, in which the direct sales channel belongs to Xiaopeng Automobile Trade and the authorized dealers belong to UDS, and the two institutions are equal in the framework, and in some cases, there will be problems of internal consumption in the system.
For example, self-operated stores and franchise stores sometimes have the phenomenon of "grabbing customers". Many users in Tucki said that they had received "persuasion" calls after placing orders, saying that after-sales service and service are more guaranteed when they buy in direct stores, while franchised stores can strive for more benefits for users.
Through this adjustment, Xpeng Motors consumes the competitive relationship between the two teams in organizational structure, which helps to reduce internal friction and improve efficiency.
Second, after completing the optimization and integration of the channel organization structure, He Xiaopeng also said that he would continue to firmly promote the self-operated and authorized channel model, and the proportion of authorized points would also increase relatively. At present, the ratio of direct stores to authorized stores in Tucki is about 7:3.
In addition, He Xiaopeng also said that he will actively expand the layout of third-and fourth-tier cities in the future, and the channels will be mainly done through partners, which will also enable Tucki to achieve faster expansion at less cost. In the future, Xpeng Motors can also consider more models suitable for third-and fourth-tier channels in product planning.
Through this operation, we can also see that Xpeng Motors is grabbing customers in the sinking market and boosting sales. Realize the scale effect. However, this approach seems to be some traditional brands? But from another angle, it is not surprising that Wang Fengying, a traditional brand, brought traditional industry thinking to Tucki.
Apart from the changes that Wang Fengying brought to Tucki, Xiao Peng himself also made many changes. We all know that after the third quarter of 2022, He will put more emphasis on eco-enterprises returning to Xpeng cars and personally making explosions. For example, in order to make more innovations in product planning and design around users' perceived value and differentiation, He Xiaopeng began to be personally responsible for the design part, and at the same time set up three modeling front-end teams to compete creatively.
In addition, in terms of organizational structure, He said that since February this year, the design team, R&D team, production, supply chain and organizational management team and process system team of Xpeng Motors have all reported directly to He himself, so as to improve the planning ability and decision-making efficiency.
Electric EV: It has achieved initial results, and we still need to continue our efforts in the future.
Although the financial report data is not bright, after the financial report meeting, the share price of US stocks in Tucki rose, which also proved that the capital market recognized Xpeng Motors' self-help attitude. So how should Xpeng go in the future?
In the short term, the performance of P7i will also affect the company's next performance. In addition, the price reduction of battery materials will also help alleviate the profit pressure of Xpeng Motors. According to the official information of Tucki, since the listing of P7i, the store passenger flow and order volume have also increased significantly. The reputation of G9 is gradually accumulating, and the order volume is also growing steadily. G9 is also expected to be a marathon runner.
In the long run, the current turmoil in the automobile market is very serious. First, the fuel truck was forced to swing his fist, which led to a fierce price war in the industry. In addition, Tesla's new manufacturing technology will also bring more room for price reduction for Tesla in the future.
In addition to external troubles, internal worries can not be ignored. The first is whether the product strength can better grasp the hearts of users, and whether the banner of "intelligence" that Tucki has been holding high can catch up with competitors in terms of landing speed, scale and product experience this year.
He Xiaopeng also said that in the third quarter of 2023, everything will change. Then, we will test them one by one.
This article is from the author of Icano. Electric EV, copyright belongs to the author. Please contact the author in any form. The content only represents the author's point of view and has nothing to do with the car reform.