Author | Huang Yu Editor | Liu Baodan Last year, thanks to the success of the "Speeding" on iQiyi, the company has had a difficult time recently. On the one hand, the explosively popular TV series is on hiatus, and on the other hand, the derivative concert of the variety show "Plant Some Goodness" has been criticized for "free offline but paid online." According to Wall Street News, the second Wheat Field Music Festival, produced by iQiyi's reality show "Plant Some Goodness," was held on June 6th. Some viewers had previously received free offline tickets through official activities, while online viewers, even iQiyi members, had to pay RMB 12 for viewing, and the viewing period was valid until June 14th. This differentiated pricing model has caused dissatisfaction among many viewers, who question that iQiyi's move is "cutting corners." In response, iQiyi's customer service said, "You can buy tickets to watch the concert live according to your own needs, and the edited content of the concert will be launched on the main platform in the future." In fact, this is not the first time that long video platforms represented by iQiyi have been accused of "cutting corners." In recent years, membership grading systems, early access, and inventory restrictions have often caused user backlash, in addition to paying extra for derivative programs. The differential pricing model reflects the growth anxiety faced by long-form video platforms such as "i优腾."

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At the beginning of the year, Geely Technology, which once claimed to not follow the price war, has already been forced into this vortex.

Although sales in the first half of the year increased by more than 100% year-on-year, Ji Ke still faces significant challenges. On the one hand, it has not yet escaped the excessive dependence on its Ji Ke 001 model. On the other hand, there is still a considerable gap to achieve the full-year sales target. It needs more courageous actions. Therefore, the first promotion in the second half of the year targeted the Ji Ke X, the product with the lowest sales volume under the brand.

On the evening of July 1st, Geely Technology announced that the 2025 Ji Ke X model was officially launched, with an official retail price of 200,000 yuan and a limited-time sales price of 179,000 yuan, indirectly striking back against the 'price war'.

As the third model launched under the Ji Ke brand, this is already the second time that the Ji Ke X has been updated this year. The launch time of the 2024 Ji Ke X was less than half a year ago. Compared to the previous model, the 2025 Ji Ke X is reduced by 21,000 yuan.

In the current tense market environment, rumors of Ji Ke X's price reduction have been circulating. Some even claim that it can be purchased for less than 130,000 yuan. Shortly before Geely officially released the price, the Geely legal department issued a document clarifying that the '2025 Ji Ke X model price information' circulated on the internet was confusing and untrue.

Now that the official price has been announced, although there has been no significant price reduction as previously rumored, the current price of the Ji Ke X is still considered a breakthrough for this series. For less than 180,000 yuan, consumers can now own a Ji Ke X.

The 2025 Ji Ke X has three models: the four-seat rear-wheel drive Rubik's Cube version and the five-seat four-wheel drive sports version, both of which have an official starting price of 200,000 yuan, and the four-seat four-wheel drive Rubik's Cube version with a starting price of 220,000 yuan. The limited-time price reduction of 21,000 yuan applies to the four-seat rear-wheel drive Rubik's Cube version and the five-seat four-wheel drive sports version.

In terms of configuration, the 2025 Ji Ke X is not much different from the 2024 model. Therefore, some consumers express that, in a market where major new energy car companies are lowering prices, the new version of the Ji Ke X's price reduction has limited appeal.

The first Ji Ke X was officially launched in April last year and is positioned as a new energy compact luxury SUV with a starting price of 189,800 yuan. It is the lowest-priced model sold under the Ji Ke auto brand, competing with 'boutique small cars' such as Smart and MINI.

For Ji Ke, which was only founded two years ago, the Ji Ke X, as the third product launched following the mid-to-large-sized Ji Ke 001 and Ji Ke 009 models, has the responsibility of filling the product line gap and further driving sales growth. compact car markets are always subdivided markets with high sales volumes and increasing market share.

At the Ji Ke X launch event, Ji Ke CEO An Conghui once stated that the Ji Ke X is aimed at the largest compact luxury market in China and even the world. Only luxury brands occupy this market, and there are no decent luxury products. The Ji Ke X intends to set a new benchmark for compact luxury.

However, more than a year has passed since its launch, and the sales of the Ji Ke X seem to have failed to live up to An Conghui's high hopes.

Public data shows that at the beginning of its launch, the sales of the Ji Ke X were commendable, with monthly sales exceeding 4,700 vehicles at one point. However, since December last year, the sales of the Ji Ke X have entered a downward trend, with monthly sales from February to May this year averaging around 400 vehicles.

Currently, under the Ji Ke brand, there are four main models: Ji Ke 001, Ji Ke 007, Ji Ke 009, and Ji Ke X. Among them, the first model, Ji Ke 001, still supports most of Ji Ke's sales. Since this year, the sales of the Ji Ke X have been almost the same as those of the Ji Ke 009, which is priced between 500,000 yuan and 789,000 yuan, with the proportion of sales in May accounting for only about 2%.

In addition to fierce market competition, several industry insiders believe that the launch of the Ji Ke 007 in December last year has also had a considerable impact on the sales of the Ji Ke X. The Ji Ke 007 is positioned as a mid-sized sedan with a starting price of 209,900 yuan, and from the perspective of cost-effectiveness, it may be more attractive to consumers.

In terms of sales, the sales of the Ji Ke 007 have remained at around 4,000 vehicles since the beginning of this year.

In addition, some consumers have expressed that they are not willing to spend extra money to buy 'boutique small cars'.

As an independent listed company, Ji Ke must quickly turn losses into profits, realize the doubled delivery target of 230,000 units this year, and investors do not have much time to cultivate consumer mindshare for its compact luxury brands.

Ji Ke must quickly boost the sales of the Ji Ke X and make it a new growth point. On July 1st, Ji Ke announced its latest delivery figures, showing that it exceeded 20,000 units for the first time in a single month in June, with a total of 87,870 units delivered from January to June, an increase of 106% year-on-year, and the annual sales rate was about 38.3%, basically within the range of the annual sales target completion rate of most car companies in the industry, but there is still considerable pressure to achieve the full-year sales target.

In addition, it is worth mentioning that on July 1st, Geely Automobile, the parent company of Ji Ke, raised its full-year sales target from the previously expected 1.9 million units to 2 million units. Ji Ke also needs to shoulder the responsibility of sales, and price reduction promotions have become the most effective way forward.

It is reported that when the 2025 edition of JiKe X is launched, JiKe officially announced a new limited-time car purchase right for JiKe 007 and JiKe 001, which is a disguised price reduction.

In addition, at the Geely Auto Q1 earnings conference on July 2, An Conghui stated that JiKe will launch a mid-to-large-sized SUV called MIX and with the internal code name CX1E in August or September this year. Based on this, JiKe plans to achieve a monthly delivery of 20,000 units in the third quarter of this year, a monthly delivery of 30,000 units in the fourth quarter, and a 15% gross margin target for the whole year.

By next year, JiKe will also launch three new models, including two SUVs and a smaller hunting vehicle than 001, to further enrich the product line.

At the same time, globalization is also the focus of JiKe's current efforts. In June, JiKe announced its entry into right-hand drive markets such as Malaysia and Indonesia, and the first JiKe 001 and JiKe X were officially sent to Mexico. As of now, JiKe has entered nearly 30 international mainstream markets, including Sweden, the Netherlands, Thailand, and Mexico.

An Conghui revealed that JiKe will adopt a direct sales plus dealer network layout in the European market in the next step of its development. JiKe is currently actively promoting the localization production process of JiKe in Europe and will disclose it at the appropriate time.

It is reported that by the end of 2024, JiKe will enter 50 countries and regions around the world, including 8 luxury markets in Europe, as well as countries such as Southeast Asia, the Middle East, Latin America, and Australia.

As the industry competition becomes increasingly fierce, most car companies have either passively or actively joined this price war. Facing the dual test of consumers and capital markets, JiKe naturally also has to go all out.