"Tuhu is so cheap, can it make money?"
As a veteran driver who drives around the world, every time I go to a Tuhu store to maintain the vehicle after placing an order, I always have this question.
The background of this question is that earlier, I went to the 4S shop every time to maintain the car, one or two thousand at a time for small maintenance, four or five thousand for large maintenance, not counting all kinds of inexplicable consumables replacement. Probably after the comprehensive change from 2019 to Tuhu, the same car small maintenance is a few hundred yuan each time, and the large maintenance is more than a thousand yuan, and there will be no inexplicable additional consumption.
From one or two thousand yuan (or four or five thousand yuan) to a few hundred yuan (or more than a thousand yuan), every time I go to Tuhu to raise a car, I always have a feeling of being a thief.
Now, Tuhu has announced the IPO process, published operational and financial data, and solved the answer that I had been wondering for several years, which made me even more uneasy, and I always felt that I should bear some responsibility for Tuhu's losses.
According to the data released by Tuhu, Tuhu car maintenance achieved revenue of 7.040 billion yuan and 8.753 billion yuan in 2019 and 2020, respectively; Losses during the period were RMB3.428 billion and RMB3.928 billion, respectively. As of the first three quarters of last year, the company's revenue reached 8.441 billion yuan, an increase of nearly 42% year-on-year, and the loss attributable to shareholders was 4.435 billion yuan.
According to this calculation, in less than three years, Tuhu Car has experienced a loss of up to 10 billion.
Although this loss is affected by the fair value of convertible redeemable preferred stock, tubusk losses in the past three years are still as high as nearly 3 billion.
Tuhu's huge loss of nearly 3 billion yuan is a fact, and this fact casts a shadow on its listing. Radar Finance wrote the article "More than two years of losses of more than 10 billion, Tuhu car IPO story is not "sexy"", not optimistic about Tuhu listing, but also believes that there is chaos behind the Tuhu franchise model, customer service and experience is not doing well.
I think that Tuhu's loss of 3 billion yuan is not entirely a fact, because behind this nearly 3 billion loss, it may be that the oil of an old driver like me is cheaper than dozens of dollars, and the tires have been benefited by hundreds of yuan, which is a real sense of gain. In other words, Tuhu's loss of 3 billion is a pseudo-loss, but it has exchanged this 3 billion for a more valuable number of users and user trust, which cannot be measured in money.
On the occasion of Tuhu's announcement of its listing, I sent a circle of friends: a good company like Tuhu deserves more market returns. In recent years, I have mainly maintained my cars in Tuhu, not only cheaper than 4S stores, but mainly because the process is more transparent and reassuring.
To put it simply, from the position of the old driver, there are three aspects to Tuhu's attraction to me or Touhoo's advantages. Remarks: The following advantages are limited to Tuhu's own stores, excluding partner stores and third-party stores.
1. Tuhu is affordable. Tuhu is not only cheap to maintain, but also consumables such as tires, brake pads, and transmission oil are also much cheaper than 4S stores, and old drivers who have used them know.
Of course, it is necessary to explain that I have been maintaining the car at the Beijing Yuntong Xingbao 4S store before, which has a movie theater, a massage hall, a children's activity room, and a buffet lunch (once we went to 4 people and managed the meals of 4 people). I think these costs should be covered behind their high prices.
2, Tuhu has no routine. I maintained the car in Beijing Yuntong Xingbao, in addition to the high price, there are other problems. Every time I went, either the brake pads had to be replaced, or the battery was out of power to change the battery, and even once the engine was repaired for 3 days. Of course, I have no evidence that Yuntong Xingbao is in the routine of me, I just suspect that Yuntong Xingbao is routine me.
Just a little bit of suspicion was enough to be my motivation to abandon Yuntong Xingbao and choose Tuhu. In the past 3 years, I have used Tiger to repair N tires, maintained several times, replaced 4 tires, changed the brake pads several times, and changed the transmission oil, each time simple and efficient, without any new items. In addition, on The Tuhu side, even the glass of the lounge is transparent, and you can see the construction process of the master at a glance.
3. Tuhu's service standards are uniform everywhere. Friends who are familiar with me know that my main job in recent years is to drive to the sinking market to visit, in just a few years I drove 130,000 kilometers, to the northern provinces and cities of a number of sinking counties and towns.
I use Tuhu not only in Beijing, I also use Tuhu in Shanxi, Inner Mongolia and other places, and the Tuhu car service standards in various places have been highly unified, and I dare to choose Tuhu with my eyes closed.
Again, the above advantages are limited to Tuhu car self-operated stores, and this prerequisite must be explained to everyone. Friends who like Tuhu, even if the distance is a little farther, also try to choose their own stores.
Written in the end: Tubu tiger, which originally chose to go public in the United States, was replaced by the Hong Kong Stock Exchange, which is an extremely wise choice. Because the Hong Kong stock market is relatively stable and there is not much policy risk, after Tuhu obtains financing, it can open stores in more places to benefit old drivers like me who like to drive around.