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Less than a year after its listing, Fang Chengbao tried to exchange price for volume.

On the evening of July 29, Fangcheng Leopard officially released its one-year brand renewal strategy and adjusted the price of its only model on sale, the Leopard 5. Compared with six months ago, the price of all models was reduced by 50,000 yuan.

Founded on August 16 last year, the Fangcheng Leopard brand is BYD's main force in the 300,000 to 350,000 yuan hard-core SUV market. The first model, Leopard 5, was launched on November 9 last year. At that time, the prices of the three versions ranged from 289,800 yuan to 352,800 yuan. In April this year, Leopard 5 launched the Yunnian luxury version priced at 329,800 yuan.

This time, the price of the four versions has been reduced by 50,000 yuan, with the lowest price dropping to less than 250,000 yuan, and the entire series ranging from 239,800 yuan to 302,800 yuan.

The reporter found that the configurations of the four versions did not change before and after the price adjustment. The company did not lower the price due to reduced configuration, but simply lowered the selling price, indirectly withdrawing from the high-end market of more than 300,000 yuan.

Jiang Han, a senior researcher at Pangu Think Tank, analyzed that this price reduction may be an effective means for Fangchengbao to quickly capture market share, increase brand awareness and sales.

Auto analyst Mr. Zhong holds a similar view. He believes that Fangcheng Bao was priced relatively high when it was first established. Judging from its current sales, market acceptance is not high. If sales do not increase significantly, Fangcheng Bao will be forced to resort to price cuts for promotions.

Photo by Wu Di

In fact, the sales of Fangchengbao have not been optimistic since the beginning of this year.

In the first half of the year, its total sales were only 18,000 units, with an average of about 3,000 units per month. The situation is still going downhill. From April to June, the average monthly sales of the Fangcheng Leopard have not exceeded 3,000 units for three consecutive months. In contrast, the Great Wall Tank, which is also a hardcore off-road vehicle, sold 116,000 units in the first half of this year, with an average of nearly 20,000 units per month. Among them, the Tank 400 Hi4-T, which is in a similar price range to the Leopard 5, has sold more than 3,000 units in the past three months.

In the first half of this year, Leopard 5 ranked 7th in the domestic hard-core SUV rankings, and Great Wall occupied 3 of the top five. Specifically, the first place was Jetour Traveler (priced at 139,800 yuan to 219,800 yuan), with sales of 52,000 units, followed by Tank 300 (priced at 199,800 yuan to 330,000 yuan), with sales of 41,800 units, and the third was Haval Big Dog (priced at 99,800 yuan to 124,900 yuan), with sales of 40,200 units; the fourth was Tank 500 Hi4-T (priced at 335,000 yuan), with sales of 20,200 units; the fifth was Tank 400 Hi4-T (priced at 285,800 yuan to 289,800 yuan), with sales of 19,500 units.

The hot-selling model is still dominated by models priced between 100,000 yuan and 300,000 yuan, and the new brand Fangchengbao has failed to shake the existing situation.

In April this year, Fangchengbao held a product launch conference and exhibited three models, including Fangchengbao Bao8, Fangchengbao SUPER3 and Fangchengbao SUPER9.

According to the plan, Fangcheng Leopard will launch another medium-to-large hard-core SUV model Leopard 8 in the third quarter of this year to consolidate its electric off-road products. In the future, the company will continue to launch sports cars and other models based on the "2+X" product plan.

It is reported that the price reduction of Leopard 5 is also to pave the way for the later launch of Leopard 8, and it will be differentiated from Leopard 8 in terms of price, but this statement has not been confirmed by Fangcheng Leopard.