In December 2023, Xingtu Auto successfully ended the year with monthly sales of 14,169 units, and the annual sales reached 125,000 units, a year-on-year growth rate of 1349%。
This achievement not only far exceeded the annual sales target of 80,000 units set by Xingtu, but also surpassed the average level of most domestic auto brands and the entire industry in terms of growth rate. Specifically, the total sales volume of the domestic passenger car market in 2023 will be 255310,000 units, up 10% y/y.
Sales doubled. The sales performance of Xingtu in 2023 can be traced back to the launch of Xingtu 2 in February last yearThe opening work of stage 0 - Xingtu Yaoguang.
The car has achieved a revolutionary improvement in both design and technical application, and is known for its "high cost performance", laying a solid foundation for its sales growth. Xingtu Yaoguang as Xingtu 2The first model of 0, with Chery's advanced car manufacturing technology, has achieved the market positioning of "200,000-level experience and 10,000-level experience", which has been verified by the market as very successful.
Throughout the year, the monthly sales of Xingtu Yaoguang remained stable at more than 5,000 units, accounting for more than 40% of Xingtu's total sales.
Thanks to the strong sales of Xingtu Yaoguang, the monthly sales of Xingtu will exceed 10,000 units from July 2023 and continue until the end of the year, successfully crossing the important threshold of brand scale.
However, this achievement of Xingtu is not an easy task, especially when its sales mainly rely on fuel vehicles. In 2023, the domestic fuel vehicle market share will further shrink, with sales of 13.82 million units, a year-on-year decrease of 24%。In the context of the continuous erosion of the market share of fuel vehicles by new energy vehicles, the achievements of Xingtu are particularly precious.
Regarding this achievement of Xingtu, Huang Zhaogen, assistant general manager of Chery Automobile Co., Ltd. and general manager of Xingtu Marketing Center, said in an interview that he felt great pressure in his heart. He also stressed that although Xingtu's annual sales have exceeded 100,000 units, this is only a phased victory in the long-term development strategy, and there is still a long way to go to make the team feel complacent.
Join the independent high-end camp.
Xingtu's performance among independent high-end car brands should not be underestimated, and its sales growth and market size have increased significantly in 2023. With Lynk & Co's 220,000 units, WEY brand 4Compared with 10,000 units and Hongqi's 370,000 units, Xingtu's growth rate and scale show its competitiveness in the industry.
Especially in terms of the price of a single bike, a key indicator of a brand's premium power, the average selling price of Xingtu has increased from 13 in 202190,000 to 17 in 202320,000 has surpassed traditional joint venture brands such as Volkswagen and Nissan, and stands at the forefront of independent high-end brands. At the same time, the average price of Xingtu's bicycles has also equaled or even exceeded Lynk & Co's 15020,000 yuan.
In the context of the first decline in the average price of bicycles in the overall market, Xingtu's achievements are particularly outstanding, thanks to its long-term persistence and emphasis on basic work.
Although Xingtu's growth is not the fastest, every step is firm and steadfast, which is also the basis for its explosive growth.
User support is another key factor in Xingtu's success. Through the six one service commitment, the "double network co-training" service network, quality lunch 20 and other high-end services, Xingtu continues to improve user satisfaction and attract a large number of high-net-worth users.
The proportion of replacement and purchase among Xingtu car owners has reached 66%, the conversion rate of joint venture customers is 57%, and the proportion of high-quality professional groups such as teachers, doctors, and civil servants has also reached 36%. These data show that Xingtu is steadily moving forward on the road of pursuing high-quality development and has become a strong competitor of mainstream independent high-end brands.
The first shot of new energy transformation was fired.
By 2024, Xingtu aims to achieve an ambitious annual sales volume of 300,000 units to establish its position as a second-tier luxury brand.
In order to achieve this goal, Xingtu will focus on grasping the development opportunities of the new energy market.
At present, China's new energy vehicle market is developing strongly, and the cumulative sales of new energy passenger vehicles in 2023 have reached 88640,000 units, and the market share rose to 347%, compared to 28That's a significant increase of 1%.
Although the Xingtu brand has only been established for a long time, with a history of only 6 years, it has been able to gain significant support and development in the field of new energy technology by relying on the strong background of Chery Group.
At present, Xingtu has established a comprehensive product line covering three mainstream new energy technologies: pure electric, plug-in hybrid and extended-range electric, and has launched the M3X platform designed for hybrid models and the E0X platform for electric vehicles, and has also introduced cutting-edge technologies such as Lion Zhiyun and Galaxy Ecology to form its own unique competitive advantage.
In particular, the first model developed based on the E0X platform, the Star Era ES, was officially launched on December 20, 2023, as the first model in China to be equipped with air suspension at the 200,000 yuan level, its excellent product performance has received a warm response from the market as soon as it was launched, and there have been more than 20,000 cumulative orders.
Industry experts have commented that the rise of China's independent high-end brands such as Xingtu is accelerating, and the low energy consumption and ultra-comfortable performance of the E0X platform will become a new standard in the industry, indicating a new trend of high-quality development of China's automobile industry.
National public opinion: In addition to the Star Era ES, Xingtu will also launch a number of new energy models such as Yaoguang C-DM and Star Era ET in the first quarter of 2024, as well as a range extender model in the fourth quarter.
The plug-in hybrid market that Yaoguang C-DM is about to enter is one of the segments with the largest growth potential in China, and the industry sales data for 2023 shows that the annual sales of plug-in hybrid vehicles have reached 2.75 million units, a year-on-year increase of 851%。Xingtu has broken down its sales target for 2024 into a "343" structure, that is, gasoline-powered vehicles, hybrid vehicles and pure electric vehicles account for 30% and 30% of total sales, respectively.
In view of the comprehensive improvement of Xingtu's technical route and model layout, the future development potential in the field of high-end new energy should not be underestimated.
In the future, whether the new product can help Xingtu Auto achieve the goal of selling 300,000 units in 2024, I believe time will reveal the answer for us.