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《大行》花旗:小鵬(09868.HK)G7定價符合預期
花旗表示,小鵬汽車-W(09868.HK)於7月3日推出G7(中型純電動SUV),定價符合預期,為19.58萬至22.58萬元人民幣。G7在產品發布後9分鐘內錄得超過1萬份不可退款訂單,表現符合預期,因其已預售超過20天。該行認為,G7後期的訂單增長趨勢將是關鍵。在定價方面,G7比P7+貴1萬至2萬人民幣,這是房車與SUV之間的正常價格差距。 花旗認為G7的性能中規中矩,原因包括:(1)其車型尺寸(中型)小於YU7/i8(中大型);(2)僅提供兩輪驅動,最大馬力296匹(比極氪7X低100匹以上)。鑑於中規中矩的性能,該行認為G7的賣點在於高級駕駛輔助系統(ADAS)和智能座艙,但這不太可能使G7成為如小米(01810.HK)YU7般的熱銷車型。考慮到符合預期的定價、不錯的用戶優惠及當前競爭環境,該行預計G7的穩定月銷量為8,000至10,000輛。 花旗予小鵬汽車 (XPEV.US)「買入」評級,目標價29美元。
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