SAIC MOTOR(SH:600104) 2 1 Shi Ji Jing Ji Bao Dao·2025-11-14 15:26Core Insights - The launch of the IM LS9 marks a significant entry into the competitive large six-seat SUV market, with over 5,000 pre-orders within 25 minutes of its announcement [1] - The large six-seat SUV segment is expected to see sales exceed one million units for the first time in 2025, growing from 200,000 units in 2021 to 600,000 units in 2024 [1] - The market is facing challenges of homogenization, with many competitors offering similar features, making consumer choice increasingly difficult [1] Product Differentiation - IM LS9 targets consumers who desire spaciousness without sacrificing driving quality and technological experience, particularly those transitioning from performance or off-road vehicles [3] - The LS9 features advanced technology such as a dual-direction 24° rear wheel steering and a digital chassis system, enhancing maneuverability and stability [3][4] - The vehicle's energy consumption is rated at 2.81L/100km, which is 10-15% lower than similar hybrid models, ensuring performance even in low battery conditions [4] Pricing Strategy - The LS9 is priced between 322,800 to 352,800 yuan, which is approximately 70,000 yuan lower than the Li Auto L9 and 130,000 yuan lower than the AITO M9, aiming to penetrate the market through competitive pricing [4] - The company plans to expand its distribution network to cover 150 cities by the end of the year, with over 500 outlets, ensuring extensive market reach [4] Brand Positioning and Challenges - IM faces challenges in brand recognition and market competition, as its previous models were primarily in the 200,000-300,000 yuan range, and the LS9's higher price point may test its brand premium capabilities [5] - The company emphasizes long-term investment in core technologies rather than superficial features, aiming to establish itself as a serious player in the high-end market [5] - The success of the LS9 will depend not only on product quality but also on brand strength, ecosystem, and service capabilities in a highly competitive environment [5]