Understanding the Market | XPENG-W fell over 4%, Citigroup stated that the release of Xiaomi YU7 brings negative impact, and it is expected that the pricing of XPeng G7 may be adjusted downward
XPENG-W's stock price fell over 4%, reporting HKD 71.15 as of the time of writing, with a transaction volume of HKD 2.382 billion. Xiaomi released its first SUV, Xiaomi YU7, which has shown strong order performance and is expected to negatively impact the pricing of XPeng G7, potentially lowering it to RMB 210,000 to maintain competitiveness. The XPeng G7 will officially launch next week with a pre-sale price of RMB 235,800, and pre-order users can enjoy purchase discounts
According to the Zhitong Finance APP, XPeng-W (09868) fell over 4%, down 4.05% to HKD 71.15 as of the time of writing, with a transaction volume of HKD 2.382 billion.
In terms of news, Xiaomi officially launched its first SUV, the Xiaomi YU7, last night, starting at a price of RMB 253,500. According to Xiaomi Auto's official disclosure, the Xiaomi YU7 surpassed 200,000 units in three minutes for pre-orders; in one hour, pre-orders exceeded 289,000 units. Citigroup believes that the YU7's order performance is strong, and if there are no capacity constraints, it is expected that the monthly sales of the YU7 could reach 60,000 to 80,000 units, significantly enhancing the visibility of Xiaomi's electric vehicle profit margins. The YU7 not only has a positive impact on Xiaomi but also benefits related suppliers, but it brings negative effects to XPeng and others. The bank pointed out that due to the increased attention on the YU7, the pricing of the XPeng G7 may be lowered to RMB 210,000 to maintain competitiveness and attract more attention.
On June 23, XPeng Motors posted on Weibo, stating, "See you next week for the XPeng G7," previewing that the XPeng G7 will officially launch next week. Positioned as a mid-size SUV, the XPeng G7 has already announced its pre-sale price, with two versions, Max and Ultra, launching at a pre-sale price of RMB 235,800. Before the official launch, users who pre-order the XPeng G7 can enjoy a benefit of RMB 2,000 intention deposit offsetting RMB 5,000 of the purchase price, which can also be combined with launch benefits
