Introduction

Introduction

It has to be said, the task is arduous and the road is long.

In September, with the entrance of Ledo L60, Zeekr 7X, ZEEKR R7, and AITO 07, the so-called 'Four Little Dragons' have apparently begun encircling and suppressing Tesla Model Y.

In the eyes of most onlookers, this star player who has long dominated the monthly sales crown for a single model in the Chinese auto market is facing its toughest battle since entering China. The days of making easy money are over.

However, using September sales figures as evidence alone does not seem convincing.

Tesla Model Y sold a staggering 48,202 units, even setting a new annual high at one point. It's hard not to marvel at its immense popularity and recognition, and to worry about the 'Four Little Dragons' on their mission to encircle and suppress it.

Of course, faced with these results, some may argue, 'September sales figures alone don't tell the whole story. After all, Ledo L60, Zeekr 7X, ZEEKR R7, and AITO 07 have just begun deliveries and have not yet reached a steady state of delivery. Whether Tesla Model Y will be dethroned or seriously wounded is far from decided.'

In other words, October sales figures may be more indicative.

Little did they know that last week, with the official release of the much-anticipated terminal performance report by the Passenger Car Association, the answer was revealed. First, how do you feel when you see that Tesla Model Y still sold 36,204 units?

Well, in my heart, I can only describe it as 'terrifying'.

Although there was a significant drop of about 12,000 units compared to September, considering that the Shanghai factory of this American new energy vehicle company tends to prioritize supplying the overseas market in the first month of each quarter, combined with the increasingly effective 'five-year interest-free' car purchase policy being extended for the fourth time, and with the end of the year approaching, it will surely do everything possible to boost sales and ensure it meets its targets. Plus, rumors suggest that the 'Renewed Version' has already started trial production and will enter the market in the first quarter of next year.

Obviously, Tesla Model Y has not yet faced the difficult times described at the beginning, and it still has many cards to play. There is not much concern about its future prospects.

In contrast, the competitive intensity posed by the 'Four Little Dragons' at this stage is still quite limited.

However, ideally and objectively speaking, if the timeline is extended to make the sample size larger, and if Ledo L60, Zeekr 7X, ZEEKR R7, and AITO 07 continue to attack in unison, it is not impossible for them to tear a chunk out of Tesla Model Y.

In the following sections, I will summarize and look ahead to the present and future of the 'Four Little Dragons' based on their respective performances.

Let's first focus on Ledo L60.

Thanks to its smart decision to 'subtract' in terms of configuration, leveraging NIO's brand, charging, and service dimensions, and with the adoption of the BaaS (Battery as a Service) model, the starting price has dropped below 150,000 yuan. Among the 'Four Little Dragons', in terms of cumulative orders at the beginning of its launch, Ledo L60 was undoubtedly the most explosive.

However, the problem lies in production capacity.

In October, Ledo L60 delivered 4,319 new vehicles, which doesn't seem too bad at first glance, but when combined with the complaints of various customers waiting to pick up their cars, the dilemma it faces becomes apparent.

Responsibly speaking, due to the drag on the manufacturing side, some potential Ledo L60 owners are being quickly snatched up and lost, and I personally know several such cases.

Even more terrifyingly, because the delivery cycle for getting the product into consumers' hands is too long, the buzz around this product is also weakening.

Now, looking back at Li Bin's spoilers about the production pace of Ledo L60 in a previous interview, 'Our internal expectation is to reach 5,000 units in October, 10,000 units in December, at least 16,000 units in January next year, and climb to 20,000 units in March next year.'

Obviously, this is far from enough and insufficiently prepared, especially without stockpiling in advance. Ultimately, it leads to the most undesirable situation: 'A good product is hampered by production capacity.'

As for the future, Ledo L60 must address the aforementioned 'pain points'; otherwise, it's not alarmist to say that the only path ahead is to 'repeat the mistakes of NIO ET5.'

In contrast, Zeekr 7X, which announced its price just one day later, did not make similar mistakes.

Even exaggerating a bit, among the 'Four Little Dragons,' it has become the most well-prepared in terms of production capacity. Thanks to advance stockpiling, it was able to deliver vehicles immediately upon launch, successfully capturing the first wave of consumers.

In the just-concluded October, Zeekr 7X delivered 11,643 new vehicles. According to official data, cumulative deliveries exceeded 20,000 units within 50 days of its launch.

Faced with such results, I want to say, 'A new energy vehicle can stand out only if it has no obvious shortcomings, is priced with sincerity, and ensures efficient and controllable vehicle pickup. None of these elements can be lacking.'

Undoubtedly, Zeekr 7X has achieved this.

However, it cannot be ignored that looking within Zeekr, its increasing prominence has significantly impacted the market share of similar models like Zeekr 001 and Zeekr 007. The 'pie' is only so big, presenting a challenge for this new-energy vehicle company: how to solve the internal competition.

In contrast, ZEEKR R7, with the 'aura' of Huawei and its product positioning, has become the most expensive among the 'Four Little Dragons'. From the slides of its press conference, it's clear that its benchmark is not Tesla Model Y but rather Tesla Model X.

Judging by this standard, ZEEKR R7, which delivered 4,730 new vehicles in October, is a clear winner. After all, the latter, with its 'gull-wing doors,' cannot sell that many in China in a year.

But it's obvious to all that ZEEKR R7's long-cherished wish is to unseat Tesla Model Y.

Based on currently available information, its sales performance undoubtedly brings great relief to the entire HUAWEI AITO brand. In just two days, from November 9 to November 10, Beijing time, large bookings exceeded 1,500 units.

Not only did this dispel the gloom of its 'sibling' AITO S7 falling short of expectations, but it also proved from the side that Chinese consumers prefer SUV models.

Moreover, in the latest new car catalog released by the Ministry of Industry and Information Technology last week, the extended-range version of ZEEKR R7 was prominently listed. Such an urgent pace also proves from the side Huawei's determination to sell well. In the future, referring to the output of AITO M9 and AITO M7, a monthly delivery volume of over 10,000 units may just be the passing grade.

As for AITO 07, it delivered 5,636 new vehicles in October.

It must be acknowledged that in terms of numbers, it is indeed better prepared in terms of production capacity compared to Ledo L60. However, it was expected that with its 'dual-power' (gasoline and electric) option, it would gain a certain first-mover advantage among the 'Four Little Dragons.'

But judging from the current results, due to various reasons, there is still much room for improvement.

For AITO 07, the challenge lies in increasing its visibility to more potential customers, convincing those who are unfamiliar with it to include it in their shortlist, and amplifying its advantages in design, quality, and intelligence. This is a constant test of the marketing capabilities and team efficiency of this new-energy vehicle company.

Next, similar to the situation with ZEEKR R7, a monthly delivery volume of over 10,000 units will likely be the passing grade. Only in this way can the entire AITO truly gain a firm foothold in the fiercely competitive market.

As for the encirclement and suppression of Tesla Model Y by the 'Four Little Dragons,' it's too early to say they've won, or even that they've torn off a chunk.

That's just how it is.