FAW Pentium b70s “metaverse” was listed and impacted the sedan SUV market with low price strategy

Zhou Ju, a reporter from economic observer. Com, on March 18, the Pentium b70s, a new model of FAW Pentium that has been preheated for a long time, was officially launched. The new car launched seven models, with 1.5T and 2.0T displacement, at a price of 109900 yuan to 142900 yuan. Pentium b70s is the first independent sedan SUV of FAW and the first new car under Pentium’s brand-new brand strategy. Its market performance is highly expected.

It is worth noting that, unlike the previous online press conference of automobile brands, FAW Pentium cooperated with Baidu, a technology company, to build a launch conference of Pentium b70s in xirang metaverse world with xirang app as the carrier, becoming the first batch of automobile brands settled in xirang metaverse virtual scene.

“Xirang” is a metaverse product released by Baidu at Baidu AI developer conference in December 2021. It is an immersive virtual space parallel to the physical world. This move is considered to be one of the measures taken by FAW Pentium to strengthen the emotional link with consumers and promote the process of brand rejuvenation under the outlet of “metaverse”.

Pentium b70s positioning sedan SUV, but this market segment is not the mainstream in China. From its pricing point of view, it seems that we hope to break through the market with low price strategy.

At present, SUVs with sporty design in the market include Mazda cx-4, Tielong Versailles c5x, Qichen T90, Haval f7x, Chang’an cs85 coupe, etc. Among them, the prices of joint venture models are about 150000 yuan, while the prices of independent brand models are between 110000 and 150000 yuan.

It can be seen that the Pentium b70s with a starting price of less than 110000 yuan will compete directly with independent models such as Haval f7x, Qichen T90 and Chang’an cs85 coupe, and is expected to compete with joint venture brand products with higher cost performance. Pentium directly pointed out in its press release that the starting price of 109900 yuan of b70s will lower the access threshold of sedan SUV models, while the starting price of 2.0T model is only 126900 yuan, which is the only 2.0T sedan SUV reaching 120000 yuan in the current automobile market.

In addition, the Pentium b70s, as the first strategic model under the brand-new brand strategy of FAW Pentium, has also significantly improved its intelligent networking function. It is reported that the new car has reached the level of L2 intelligent driving, and is equipped with functions such as lane keeping, ACC adaptive cruise, front vehicle collision warning, intelligent speed limit reminder, automatic emergency braking, full-automatic parking system (APA), 360 degree panoramic image and so on. In addition, the Pentium b70s is also equipped with Pentium d-life 5.2 AI intelligent ecosystem + smart home services.

However, in the sedan SUV market with limited market capacity, it is difficult to say whether the Pentium b70s can shoulder the important task of improving Pentium sales.

At the press conference, Sui Zhongjian, general manager and Deputy Secretary of the Party committee of FAW Pentium Car Co., Ltd., said that Pentium plans to reach 600000 Pentium brand annual sales by 2025, and the sales of new energy vehicles account for more than 30%.

As an independent brand of FAW Group, Pentium has been established for 16 years, but it has not reached the expected goal in terms of scale. In 2021, FAW Pentium sold only 57700 vehicles, which is quite challenging to achieve the goal of 600000 vehicles in four years.

In order to realize the reversal of market performance, Pentium has made continuous efforts to change in recent three years. In October 2018, FAW Pentium released the “new Pentium” development strategy, rebuilt the brand structure, and launched Pentium’s “Tianma Xingtu strategy” in 2019 to enter the Internet of vehicles.

In terms of products, since 2018, Pentium has successively launched new models such as Pentium T77, Pentium t33, T99 and Pentium T77 pro to meet the changes of automobile consumption demand. The launch of Pentium b70s is considered that Pentium hopes to open up new market segments and explore new growth poles.

In May 2021, FAW Pentium held a new brand strategy press conference for the 15th anniversary, announcing that it will realize brand strategy transformation in 2023, with production and sales of 300000 vehicles, sales of 600000 vehicles in 2025 and challenge 1 million vehicles at the same time.

The listing of b70s became the first shot of FAW Pentium in its brand-new brand strategy. It is worth noting that b70s will adopt a different sales model from the past. Wang Shengli, deputy general manager and general manager of sales branch of FAW Pentium sedan Co., Ltd., said at the press conference that b70s will continue the online sales mode since pre-sale. Users can enjoy the vehicle delivery of 4S store by placing an order online through Pentium yomi app. In order to let users get more clear and transparent prices and save redundant bargaining links in the process of car purchase.