Original Wu Di International Finance News
Brand merger and new car entry, Geely wants to break into A0 pure electricity market.
On October 9th, Geely Star, a pure electric A0-class car owned by Geely, would like to go public. The new car has launched two series and five models, with a guide price of 72,800 to 101,800 yuan, and the current limited-time equity price is 69,800 to 98,800 yuan.
Image source: Geely official website
In A0 market, price and cost performance are the focus of consumption. The price of Geely Xingyuan is right between BYD Seagull and Dolphin, and these two cars are also regarded as the biggest competitors of Geely Xingyuan in the market.
However, the proportion of A0-class new energy vehicle market in the overall automobile market is not obvious. According to the data of the Association, in the first eight months of this year, the retail volume of China automobile new energy market reached 6.009 million vehicles, of which A0 market only accounted for 8.5%, about 510,800 vehicles.
With the influx of more A0-class new cars, the market share has also expanded, from 6.4% in 2020 to 12% in 2023, and the market has expanded by 5.6% in three years. The market expects that the A0-class new energy market will keep growing this year.
Due to its late entry, Geely has lost its first-Mover advantage, and the current A0 market has long been occupied by popular models such as BYD and Wuling.
The data shows that the cumulative sales of BYD Seagull in the first eight months of this year was 232,200, Dolphin was 92,400, Wuling Bingo was 105,300, and the cumulative sales of the three vehicles reached 429,900. According to the data provided by the Federation, the cumulative sales of the three vehicles in the first eight months accounted for 84.16% of the A0-class new energy vehicle market, of which BYD alone accounted for 63.55%, which was in an absolute dominant position.
How to snatch users from seagulls, dolphins and other overlords has become a difficult problem for Geely.
Geely said that the car was built on Geely’s brand-new pure electric platform, with rear drive and independent suspension. It designed a number of storage functions in space, expanded the rear space, and reduced the restrictions of the car size on space use.
Cartography: Wu Di
In terms of body size, the length, width and height of Geely Xingyuan are 4135 mm, 1805 mm and 1570 mm respectively. The overall body is slightly larger than seagulls, dolphins and bingo, and the wheelbase is 2650 mm longer than seagulls and bingo. In terms of storage space, Geely Star is willing to surpass the three competitors with a large volume of 375 liters to 1320 liters.
In addition to large space, Geely Xingyuan is equipped with Flyme Auto intelligent cockpit system. Developed by Star Meizu, this system is the first time Geely has applied it to A0-class pure electric vehicles. Previously, it was carried on Lectra 08 EM-P, Yinhe E5 and other vehicles. In addition, the top model of Xingyuan is equipped with L2 intelligent assisted driving function, and the limited-time price of this model is 98,800 yuan. Among the competitors, the top version of Dolphin is also equipped with L2 intelligent assisted driving, and the price reaches 129,700 yuan, which is 30,900 yuan higher than that of Geely Xingyuan.
In terms of battery selection and cruising range, Geely Star is willing to carry lithium iron phosphate battery from Contemporary Amperex Technology Co., Limited. The cruising range varies from 310 km to 410 km depending on the configuration. The off-line cruising range is the longest among the four models, while the on-line cruising range is 405 km higher than that of seagulls, the same as that of bingo and 520 km lower than that of dolphins.
In addition to the release of new cars, Geely made adjustments to the car market strategy. The CEO of Geely Automobile Group, Gan Jiayue, announced that the geometric brand was officially merged into the Galaxy brand, and Geely New Energy will focus on building the Galaxy brand, and the geometric brand will become the smart boutique car series of Galaxy.
Earlier, Yang Xueliang, senior vice president of Geely Holding Group, made a notice of this move. He said that the geometric channels were upgraded and merged into the Galaxy, and the channels of the Galaxy were enriched and explored.
According to the data, Geometry is a brand of high-end pure electric vehicles launched by Geely in 2019. Before the merger, Geometry models on sale included Panda MINI, Geometry E Firefly, Geometry G6, Geometry A, Geometry C, etc. Among them, Panda MINI is the model with the lowest brand price at present, only 29,900 yuan to 56,900 yuan, which is 171,900 yuan different from Geometry C with the highest price of 207,800 yuan.
In the first eight months of this year, the cumulative sales volume of geometric cars reached 108,200, of which the cumulative sales volume of Panda MINI reached 69,000, up 25.71% year-on-year, while the sales volume of other models was poor, and all of them were in a state of decline year-on-year. Among them, the Geometric G6, with the largest decline, sold only 2,981 vehicles in the first eight months of this year, down 98.81% year-on-year.
The merger of Geometry into Galaxy focusing on small cars is also in line with the current sales situation of Geometry brands, but BYD and Wuling Zhuyu are in the forefront, not to mention reshaping the A0 pure electricity market structure, even if it is not easy to get a share.
Reporter Wu Di
Editor Sun Wanqiu
Original title: "Geely, Breaking into BYD’s" Absolute Ruling Area ""
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