On December 27, WM Motor Technology Group applied for bankruptcy reorganization and added new announcement information, and the case was heard in Shanghai No. 3 Intermediate People's Court. Weimar, which filed for bankruptcy reorganization, can be said to be a typical representative of being eliminated under the reshuffle of new car-making forces in 2023.
Looking back on the past year, the reshuffle wave of new domestic car-making forces has further intensified, some car companies have reduced their lives, and some car companies have collapsed. An obvious phenomenon is that a very small number of leading car companies have achieved stable delivery and revenue growth, while most car companies are fading out of public view.
In the year of the restructuring of the new forces, some people have fallen
One of the most embarrassing events of this year should include WM Motor, as one of the first new car-making forces in China, to file for bankruptcy reorganization.
The original WM Motor, together with NIO, Xpeng and Ideal, was collectively known as the "Four Little Dragons of New Forces". In the past few years, WM has received a lot of financing, with a total of 12 rounds of financing, and the announced financing scale has reached 35 billion yuan, with investors including Shanghai State-owned Assets Investment Platform, SAIC Group, Tencent Investment, Sequoia China, Hongta Group, etc.
From 2018 to 2020, WM Motor's delivery volume was still relatively objective, and the annual delivery ranking hovered between the top four of the new forces. It's just that the good times don't last long, and the prospectus previously submitted by WM Motor shows that WM Motor's delivery data in 2021 will be 4420,000 units;According to the data of the passenger association, WM will sell 29,450 vehicles in 2022.
The turning point of the predicament is in 2022, when WM Motor frequently reported negative news such as salary cuts, production stoppages, rent arrears in the headquarters building, and large-scale withdrawal of dealers from the network. The situation has not improved in 2023, and the equity of a number of companies related to WM Motor has been frozen.
In October this year, WM Motor Technology Group filed for bankruptcy review, and there was an uproar in the industry. After the news of the bankruptcy reorganization application came out, Weimar quickly issued a notification letter saying that it would not lie down and would actively save itself. Until recently, Tianyancha information showed that the case of WM Motor Technology Group's application for bankruptcy reorganization was tried in Shanghai No. 3 Intermediate People's Court on December 27.
The result of WM Motor's bankruptcy reorganization is still unknown, but looking back on WM Motor's past car manufacturing process, it is difficult to help but sigh. Moreover, there are not many cases similar to Weimar.
This year, Tianji Automobile has been exposed to the news of suspension of production and arrears of wages one after another, from the Tianyan check platform, Tianji Automobile has been enforced many times, and the equity of many companies held by Tianji Automobile Technology Group has been frozen.
The latest equity freeze occurred on December 6, the equity was executed by Zhejiang Electric Coffee Automobile Technology ***, that is, Tianji Automobile), the equity was executed by the enterprise Shaoxing Xinka Investment Management Partnership (Limited Partnership), and the amount of frozen equity was 38.9 billion yuan, and the freezing period is from December 4, 2023 to December 3, 2026.
The negativity of the new car-making force is also Aiways. At present, Aiways Shanghai has filed for bankruptcy review. On December 4, Aiways was also listed as a dishonest person subject to execution by the Shangrao County People's Court for refusing to perform the settlement agreement without justifiable reasons, and was restricted from high consumption.
In the competition for capital, technology, products, and delivery among new car manufacturers, any car company with shortcomings in any link may be quickly kicked out of the table. An intuitive data comparison is that in 2017, there were nearly 200 new domestic car-making forces. By the end of 2023, only the new forces with mass-produced car sales are NIO, Ideal, Xpeng, Nezha, and Leap ......
The new forces of car manufacturing are divided, and the winners are still running wildly
Although there are many laggards, there are also gainers. Between NIO, Xpeng, and Ideal, which have just stabilized their foothold in the automotive industry, the rankings have also been adjusted.
From January to November 2023, NIO delivered a total of 142026 vehicles, a year-on-year increase of 331%；Xpeng delivered a total of 121486 new vehicles, a year-on-year increase of 11%.Li Auto delivered a total of 325677 vehicles, reaching the annual sales target of 300,000 units ahead of schedule.
The ideal car that is running wildly has achieved a bumper harvest in sales with the naked eye. Not only that, but it has also achieved a turnaround in performance and increased hematopoietic capacity.
In the third quarter of this year, Li Auto's sales growth led to a significant increase in revenue, with a revenue of 346 in the quarter800 million yuan, a year-on-year increase of 2712%；Operating profit and net profit were 23400 million yuan and 28100 million yuan, achieving four consecutive quarters of profitability.
However, unlike Li Auto's turnaround, NIO and XPeng are still under pressure to lose money. NIO's third-quarter financial report showed that revenue reached 190700 million yuan, a year-on-year increase of 466%；The net loss was about 45600 million yuan, down 248%。Xpeng Motors achieved revenue of 85 percent in the third quarter300 million yuan, a year-on-year increase of 250%。The same increase in revenue but not profit, the net loss in the third quarter reached 38900 million yuan.
It can be seen that the first echelon of new car-making forces has been significantly differentiated, and the product line is relatively single, and the delivery growth rate of NIO and Xpeng with more product lines has slowed down.
In the second echelon, the brand positioning is more affordable Leap, and a total of 12 new cars have been delivered from January to November this year550,000 units, actually slightly ahead of Xpeng;Nezha's total deliveries in the first 11 months were 12240,000 units, down 15% year-on-year, becoming the only car company with a cumulative sales decline among the new forces with annual sales of 100,000 units.
Whether it is "Wei Xiaoli", or Leap and Nezha who are under pressure in the second echelon, or Weimar and Skyrim who are facing the dilemma of shutting down, their current situation is not accidental. At the beginning, the new forces of car manufacturing happened to encounter the new energy vehicle outlet, and they had unlimited scenery in the capital market.
However, in 2022, as the heat of the capital market declines, the stock price will gradually respond**, which will put more pressure on the new car-making forces that have not yet formed a sales scale. On the other hand, what has an important impact on its scale and strength is actually directly related to the siege of traditional forces.
There was a traditional "second generation" siege in the front, and a "Hua Xiaomei" pursuit in the back
When it comes to the "handle" of new energy sales in 2023, I have to mention BYD. In November this year, BYD's sales volume was 30190,000 units;From January to November, BYD's cumulative sales have reached 26720,000 units, basically sitting firmly on the throne of the annual "sales crown".
Also on the hot list is GAC Aion. In November this year, GAC Aion's sales reached 41,567 units, and the cumulative sales in the first 11 months have reached 434056 units, a year-on-year increase of 7999%。In addition, AITO Wenjie sold 18,827 units in November, Changan's Deep Blue sold 16,157 units, and Geely's Zeekr delivered a total of 13,104 units.
From the intuitive sales volume, it can be seen that the traditional "second generation" has gradually grasped the advantages of smart electric vehicles, and has begun to win the dividends of the rapid growth of the new energy vehicle market, and has overtaken "Wei Xiaoli".
For new energy vehicles, traditional car companies are more in a wait-and-see attitude in the early stage. The obvious change in 2023 is that with the spread of the new energy war, the traditional forces are making full efforts, and their rapid growth has made the new energy vehicle market more and more competitive.
In addition to the "second generation" of traditional car manufacturing, mobile phone manufacturers represented by Huawei, Xiaomi, and Meizu are actually creating pressure.
On December 28th, the 1000th day of Xiaomi's official car, Xiaomi Auto held an automotive technology conference, and Lei Jun, founder, chairman and CEO of Xiaomi Group, officially announced the birth of Xiaomi's first car, Xiaomi Su7.
Huawei's car-making business is also evolving. On September 12, the new M7 was launched, and the number of orders exceeded 100,000 by the end of the year. At the end of November, the number of reservations for the Zhijie S7 cooperated by Huawei and Chery also exceeded 20,000 units. In addition, Huawei's car BU will be split, and Huawei will issue a "hero post" in 2023, sign a memorandum of investment cooperation with Changan, and issue equity opening invitations to Cialis, Chery, JAC, and BAIC.
Meizu is also hurrying to "get on the bus". Also at the end of November, Shen Ziyu, chairman and CEO of Meizu, announced that he would create an exclusive DreamCar MX for Meizu friends, and said: "Meizu will not lose to Huawei. ”
There is a siege of the "second generation" of traditional car manufacturing in the front, and there is a "Hua Xiaomei" pursuit in the back, and it is indeed very difficult for "Wei Xiaoli" to break out of the encirclement.
The new energy vehicle market has changed from a blue ocean to a red ocean, and it is foreseeable that in 2024, the competition between different forces will be more obvious, and the market may further concentrate on the head. Under the impact of all parties, who among the new car-making forces can finally stay at the table will become the biggest suspense next year.