Looking back at the automotive industry in 2024, it would be more accurate to say that “a hundred flowers will bloom” rather than “competition will intensify”.
New forces and traditional car companies are flourishing in many areas; fuel, pure electric, and hybrid are all excellent, and they have injected infinite vitality into the industry. This competition without gunpowder, while the fittest survive, stimulates the potential of car companies and pushes the entire automotive industry to a higher level.
As one of the three independent brands under the eldest son of the Republic, FAW Bestune did not move forward by inertia along the traditional established route in this fast-paced era, but instead followed the latest market trends and changed its original stable brand image through truly differentiated products and marketing strategies to create a vibrant Bestune that moves towards innovation.
To build cars for young people, "listening to advice" is the most important
Right now, when people talk about intelligence and electrification, they are not just talking about changes in product attributes, but about understanding the needs of the younger generation of consumers who grew up in the new era, and resonating with them in the context and way they speak.
In terms of insight into user needs, FAW Bestune, which has gone through multiple cycles of ups and downs in the auto market, undoubtedly has a more forward-looking judgment. The Bestune Pony, which will be launched at the end of May 2024, is the best embodiment of its accurate insight into market demand.
Let's go back to 2022, when the mini electric vehicle market reached its peak, with annual sales reaching 1.08 million units. During this period, a number of mini electric vehicles represented by Wuling Hongguang MINI EV became famous in the market, meeting consumers' needs for convenient and economical travel.
However, as the market gradually becomes saturated and consumer demand changes, the micro electric vehicle market has entered a dark moment. In 2023, the sales volume of the micro electric vehicle market has dropped sharply, with the annual total retail volume falling to 946,000 units, a decrease of 12 percentage points compared with 2022. In particular, in the first half of 2023, the cumulative retail sales volume of the micro electric vehicle market was only 300,000 units, a sharp decline of 42.1% year-on-year.
Entering 2024, the micro electric vehicle market will recover. According to statistics, in the first half of 2024, the retail sales of small and micro electric vehicles reached 440,000 units, a year-on-year growth rate of 35%. This growth rate ranks second among all types of vehicles, second only to the 54% of large SUVs. Among them, the cumulative retail sales of micro pure electric vehicles from January to September 2024 reached 796,000 units, a year-on-year increase of 29.2%.
It can be said that with urban traffic congestion and parking difficulties becoming increasingly prominent, micro electric vehicles, with their convenience, economy and environmental protection, will become the travel choice of more consumers for quite some time.
The Pentium Pony has accurately hit this market demand and become a hit in the segment, with sales exceeding 10,000 units for four consecutive months.
Although the price of the Pentium Pony is affordable, the sense of value it brings to users is not ambiguous at all. Incorporating the concept of co-creation between new car companies and users, the Pentium Pony has launched a long-range version based on the original three versions, with a pure electric range of 222 kilometers, meeting the travel options of more long-distance commuting users; in addition, in order to match the actual usage scenarios of users in different markets, the long-range version of the Pony retains the SKU combination of slow charging and fast and slow charging. It can be said that the main theme of the Pentium Pony is "listening to advice". Pentium will try its best to meet the common needs of users.
As Fang Yang, deputy general manager of FAW Bestune Automobile Co., Ltd. said, "FAW Bestune must be a brand that listens to users the most. Being with users and understanding them better than they do is a concept we must practice. In the future, we hope to explore a relaxed, pleasant and enjoyable new life with our users."
If the Bestune Pony is a timely product launched by FAW Bestune based on its inherent market cognition system, then the Yueyi 03 released at the 2024 Guangzhou Auto Show is the vanguard of Bestune's exploration of new market directions. This product, which serves young families, is the first model of the Bestune "Yueyi" new energy family in the future.
The naming method of Chinese plus numbers not only allows users to clearly understand the spirit and tone conveyed by the brand, but also accurately anchors the market segment.
Of course, the most noteworthy thing is the breakthrough technology of this car. Yueyi 03 is built on the FME pure electric platform, and it leads the same level in terms of space, energy saving, and intelligence, which are the three aspects that users care about most.
In terms of energy saving, Yueyi 03 achieves an electricity consumption of 11.8 degrees per 100 kilometers with the efficient combination of Huawei motors and Zhongxin Aviation's lithium iron phosphate batteries. Looking at the entire market, it is very energy-saving.
In terms of space, the space utilization rate of this car reaches "78%", which is 10 percentage points higher than the 67.2% of a best-selling model of the same level, and the space performance is better.
In terms of intelligence, Yueyi 03 is the first to be equipped with an AI large model and cooperates with Bestune's self-developed smart cockpit system, which meets the needs of young consumers for technology and convenience, and also reflects Bestune's innovative capabilities in the field of intelligence.
This year, the Yueyi series will launch its second model, Yueyi 07. This mid-size SUV, which focuses on the 5-seat market, will form a plug-in hybrid system through the combination of FAW's self-developed engine and motor, hitting the fastest growing plug-in hybrid market.
Whether it is Xiaoma, Yueyi 03 and 07, the Pentium brand is trying to accept the new era context of young people and use its decades of technological accumulation as support to make more people accept its vibrant new image in this increasingly competitive market.
Product first, marketing breakthrough
Good products are the most basic element to becoming a successful company. When everyone has good products, innovative and thoughtful marketing is the "shortcut" to capturing the minds of users.
Let’s take the example of Bestune Pony again. As FAW Bestune itself described it, “The secret of Bestune Pony’s traffic lies not only in its excellent product strength, but also in its continuous innovation in marketing methods. From leveraging momentum, creating momentum, to strong experience, every action is truly played with users, and it has successfully occupied the C position in the hearts of young people.”
For example, FAW Bestune invited hurdle goddess Wu Yanni, popular male god Zhang Xincheng, energetic sister Wu Xin, and fashionable mother Hu Ke to join the Pony circle of friends, allowing young users' idols to become good friends of Bestune Pony.
For example, DIY customization with various designs, the unique pony IP, the magical and brainwashing pony PONY emoticons, and the "viral" pony dance videos spread on the Internet and quickly occupied the minds of young people.
For example, by collaborating with the popular IP My Little Pony, the "five good" product strengths of Pentium Pony, "good looking, easy to drive, fun, economical, and safe", are combined with the five major characteristics of My Little Pony, "dreams, creativity, kindness, courage, and self-confidence", to achieve spiritual resonance, allowing users and the product to have a stronger soul connection.
At the 2024 Guangzhou Auto Show held in November last year, Bestune also attracted a large number of users through the "Bestune Vitality Block" to experience scenes close to daily life. Here, consumers can not only experience the unique charm of the Yueyi 03 model in person, but also immerse themselves in a fashionable and vibrant environment through interactive activities in the block. "Scenario-based marketing" effectively deepens the bond between the brand and consumers, and also reflects Bestune's innovative marketing skills.
This series of innovative marketing models not only enhances users' awareness and favorability of the Bestune brand, but also stimulates their enthusiasm for participation and desire to share, making these new cars a hot topic and traffic focus on social media. Behind this is the Bestune brand's keen insight and quick response to market trends, and its subjective initiative in the context of the new era.
at last
In 2024, the Bestune brand sold 150,777 vehicles, a year-on-year increase of 25%, the highest level in ten years. Among them, 82,872 new energy products were sold in 2024. A year-on-year increase of 214%, and a new energy penetration rate of 55%. Compared with itself, FAW Bestune has achieved considerable growth. Compared with the market, China's narrow passenger car sales increased by 3% year-on-year in November, and Bestune significantly outperformed the market. Compared with the trend, China's new energy vehicle penetration rate has exceeded 50% for consecutive years, even reaching 60%, and FAW Bestune's new energy vehicle sales have gone with the trend. In the era of smart electric vehicles, FAW Bestune breaks the routine and actively transforms, and the sales growth demonstrates the effectiveness and potential of the transformation.
