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【汽车】7月新势力交付表现分化,理想i8/乐道L90相继上市——特斯拉与新势力7月销量跟踪报告(倪昱婧/邢萍)
光大证券研究·2025-08-05 23:06

Core Viewpoint - The article highlights the performance of various electric vehicle manufacturers in July, noting a decline in deliveries for Li Auto and NIO, while XPeng achieved a record high in sales [3]. Group 1: Sales Performance - Li Auto's delivery volume decreased by 39.7% year-on-year and 15.3% month-on-month to 30,731 units [3] - XPeng's delivery volume increased by 229.4% year-on-year and 6.1% month-on-month to 36,717 units [3] - NIO's delivery volume increased by 2.5% year-on-year but decreased by 15.7% month-on-month to 21,017 units [3] Group 2: New Model Launches - Li Auto launched its second pure electric model, the i8, priced between 321,800 to 369,800 yuan, featuring the VLA driver model [4] - The L90 model from the LeDao brand was launched with a price range of 265,800 to 299,800 yuan, highlighting its spaciousness and family-friendly features [4] Group 3: Delivery Timelines and Policies - Tesla's delivery timelines for the domestic Model 3 and Model Y remain stable, with limited-time subsidies available until August 31 [5] - Li Auto's delivery timelines for the L6 remain at 1-3 weeks, while the L8 and L9 have extended timelines [5] - XPeng's delivery timelines for various models have shortened, indicating improved supply chain efficiency [5] Group 4: Industry Trends - The issuance of new smart connected vehicle operation licenses indicates a potential turning point for the commercialization of Robotaxi services [6] - The industry may shift from price competition to technology upgrades and cost reductions, influenced by the "anti-involution" strategy [6]