On June 1, 2024, Ideal Automobile announced its delivery data for May 2024. In May 2024, Ideal Automobile delivered 35020 new cars, a year-on-year increase of 23.8%. As of May 31, 2024, Ideal Automobile has delivered a total of 774571 vehicles.
As of May 31, 2024, Ideal Automobile has 487 retail centers nationwide, covering 144 cities; 374 after-sales repair centers and authorized sheet metal spray centers covering 214 cities. Ideal Automobile has put 426 Ideal Supercharging Stations into use nationwide, with 1888 charging stations.
Previously decided to postpone the launch plan of pure electric SUVs
On the evening of May 20th Beijing time, Li Xiang, founder, chairman, and CEO of Ideal Automobile, suddenly announced this news during the 2024 Q1 financial report conference call of Ideal Automobile. "We will not release pure electric SUV products this year, but in the first half of next year," Li Xiang said.
He explained that this decision was mainly based on two reasons.
Firstly, having sufficient self operated supercharging piles is a necessary condition for selling mid to high end pure electric SUVs.
Secondly, Ideal Automobile needs to upgrade and increase the number of booths and shopping malls.
Q1 sales surpassed by direct competitors
In terms of sales, Ideal Automobile delivered a total of 80400 vehicles in the first quarter, a year-on-year increase of 52.9%, still in the first tier of new car manufacturing forces, with a year-on-year growth rate higher than most car companies.
However, the market misjudgment of Ideal MEGA and the product switching of L7, L8, and L9 have still had a certain impact on Ideal car sales. The sales of Ideal Automobile in the first quarter were temporarily surpassed by its direct competitor Wenjie. However, in April, Ideal delivered a total of 25787 new cars, a year-on-year increase of 0.4%, and sales exceeded expectations.
Looking ahead to the second quarter, the ideal expected delivery volume is 105000 to 110000 vehicles, a year-on-year increase of 21.3% to 27.1%, and the total revenue is 29.9 billion to 31.4 billion yuan, a year-on-year increase of 4.2% to 9.4%.