On March 5, Weilai Automobile announced the unaudited financial report for the fourth quarter of 2018 and 2018. According to the financial report, the total revenue of Weilai Automobile in the year of 2018 was 4.951 billion yuan, and the net loss was 9.639 billion yuan, a year-on-year increase of 92.0%. The financial report also announced the cancellation of the plan to set up the factory in Jiading, indicating that Weilai will still adopt the model of foundry production.
This leads to the fact that Weilai, in the West known as NIO, is making a loss of approx. 800.000 yuan ($120.000) per car sold.
Weilai’s financial report shows that in the fourth quarter of 2018, ES8 production was 8,069 units, an increase of 91.8% compared with 4,206 units in the third quarter. The total output of ES8 in 2018 is 12,775 units. The number of ES8 deliveries in the fourth quarter was 7,980, an increase of 144.2% compared to 3,268 in the third quarter.
In terms of revenue, total revenue for the fourth quarter of 2018 was 3.435 billion yuan ($499.7 million), an increase of 133.8% compared with the previous quarter. The gross profit margin was 0.4%, and the gross profit margin for the previous quarter was negative 7.9%. Car sales were 3.381 billion yuan ($491.8 million), an increase of 137.0% from the previous quarter. The gross profit margin of auto sales was 3.7%, which was negative 4.3% in the previous quarter. Operating losses were 3.446 billion yuan ($501.3 million), an increase of 22.7% compared with the previous quarter and an increase of 106.4% compared with the same period in 2017.
In 2018, the total revenue of Weilai was 4.951 billion yuan (US$720.1 million), and the gross profit margin was 5.2%; the total sales of automobiles was 4.855 billion yuan (US$705.8 million), accounting for 98.0% of the total revenue; The loss was 9.956 billion yuan ($1.3956 billion), an increase of 93.7% year-on-year; the net loss was 9.639 billion yuan ($1,401.9 million), an increase of 92.0% year-on-year.
Wei Lai signed a framework agreement and memorandum with the Shanghai Jiading District Government and related units to establish the Weilai New Energy Electric Vehicle Advanced Base in 2017. In February 2018, the second factory of Weilai officially completed the site selection and plans to settle in Shanghai. Waigang Town, Jiading District.
The Beijing News reporter combed the financial report released by Wei Lai and found that Wei Lai had reached an agreement with the relevant entities to stop the construction plan of the production base, and the strategy focused on the vehicle manufacturing cooperation model. This undoubtedly shows that Weilai will still use the model currently produced by JAC.
Xie Dongying, chief financial officer of Weilai, also expects that the delivery volume in the first quarter of 2019 will be higher than expected, which is partly due to the expected reduction in subsidies for electric vehicles in China in 2019, which will accelerate the delivery at the end of 2018, as well as during the New Year's Day and Chinese New Year holidays. Seasonal decline. Due to the wait-and-see policy for 2019 electric vehicle subsidies and macroeconomic trends, delivery in the second quarter of 2019 is expected to remain low. In addition, ES6 orders are expected to increase after the ES6 show car enters the Weilai Center in May.
The vice president of the Chinese Academy of Engineering, Zhong Zhihua, is aware of the problems ahead.
Zhong Zhihua, member of the National Committee of the Chinese People's Political Consultative Conference and vice president of the Chinese Academy of Engineering, responded to topics related to domestic new energy vehicles, according to a manuscrpit published by Wenhui.
Some people on the Internet said that the cost of domestic new energy vehicles is high and they can't be sold. There are many problems. For this kind of voice, Zhong Zhihua said that new energy vehicles are new things, involving many technical difficulties and industrial bottlenecks. With the promotion and efforts of the government and enterprises, China's new energy vehicle development has achieved remarkable results. It is currently the world's largest in scale and continues to make innovations in technology.
At present, domestic new energy vehicles are facing international and domestic pressures, and there is still a certain gap with market expectations. In the next stage, domestic new energy vehicles will further increase technological innovation. Government and society should continue to support the development of new energy vehicles from infrastructure to marketing environment. Enterprises should also increase their technological innovation. At the same time of high quality and cost performance, the company will further innovate its business model and make the new energy vehicles' vehicles and services more competitive in the market.
This year, Tesla officially accelerated the pace of entering China. In January, it announced that it will establish the largest super factory in Shanghai. This move means that Tesla is very optimistic about the Chinese market, but it will undoubtedly bring huge new domestic energy vehicles. Shock.
The production and sales volume of China's domestic new energy vehicles increased by more than 50% year-on-year in 2018, and this year's production and sales growth has doubled. As a populous country, new energy vehicles can have such objective data in the case of full popularity. It must be said that in China, new energy vehicles have very promising markets.
On March 1st, Tesla's entire model showed a substantial price adjustment. In the Chinese market, the Model 3 price cut range is 26,000 yuan - 44,000 yuan, the Model S price cut range is 113,000 yuan - 27,500 yuan, and the Model X price cut range is 174,500 yuan - 341,100 yuan.
"Price reduction is Tesla's own decision, although it is very sudden, but fundamentally, it is likely to be aimed at targeting the market after the subsidy is cancelled." Automotive industry analyst Jia Xinguang told the Zhongxin Jingwei client that it is currently The United States is still China, and subsidies for new energy vehicles are gradually decreasing.