Core Viewpoint - Xiaopeng Motors has launched its first super extended-range model, the X9, which is positioned as a mid-to-large MPV, with two configurations priced at 309,800 yuan and 329,800 yuan respectively, along with various launch benefits [2] Product Strength - The core advantages of the Xiaopeng X9 lie in its range and spatial flexibility, featuring a 63.3 kWh battery and a 60L fuel tank, achieving a CLTC comprehensive range of 1,602 km and a pure electric range of 452 km, surpassing competitors like the Denza D9DM and Weipai Gaoshan [2] - The vehicle's charging efficiency is notable, with a 5C supercharging capability that allows for 313 km of range in just 10 minutes, alleviating range anxiety for family users [2] - The design includes a three-row electric folding feature that provides 2,514 L of flat storage space, larger than that of the Denza D9DM, although the luxury features in the second row are less pronounced compared to competitors [2] Intelligent Configuration - The Xiaopeng X9 is equipped with a Turing AI chip with 2,250 TOPS of computing power, supporting VLA 2.0 assisted driving and local VLM large models, offering a higher functionality coverage than competitors [3] - Despite its advantages, Xiaopeng's late entry into the extended-range market poses challenges, as consumer concerns about noise and power limitations persist, leading to declining sales in the segment [3] - The dual noise reduction technology in the X9 keeps the range extender noise below 0.5 dB, although real-world performance under various conditions remains to be validated [3] Market Outlook - Overall, the Xiaopeng X9 has the potential to stand out in the 2025 extended-range vehicle market, with its focus on range and cost-effectiveness driving an upgrade in industry perceptions of "full-scenario range" [4] - The extended-range vehicle market is currently experiencing a phase of adjustment after rapid growth, with expectations that pure electric vehicles will remain the core direction for domestic new energy vehicles, making extended-range models transitional products [4] - The market performance of the X9 will be crucial for Xiaopeng's influence in the extended-range segment, as the competition in the extended MPV market intensifies with the entry of the X9, leading to a more challenging environment focused on technology and cost [4]

Core Insights - The domestic MPV market is undergoing a reshuffle with the rise of new energy brands like Tengshi and Lantu, while SAIC-GM Buick's GL8 family maintains its leading position [1][2] - The new GL8 Lushun was officially launched on August 26, with three configurations priced between 339,900 and 399,900 yuan [1][3] - The MPV market has seen a retail volume of 598,000 units in the first seven months of this year, reflecting a year-on-year growth of 6% [1] Market Dynamics - The demand for MPVs is shifting due to changes in consumer preferences and the push for electrification, with projections indicating that by 2025, 50% of MPV sales in China will be new energy vehicles [1][2] - The entry of several domestic brands into the high-end MPV market has altered the competitive landscape, with Lantu Dreamer PHEV and Tengshi D9 DM leading the plug-in hybrid market in July [2] Product Features - The new GL8 Lushun features over 20 luxury configurations, including Nappa leather seats and a 30-inch 6K screen, enhancing its appeal in the luxury MPV segment [3] - The GL8 Lushun is equipped with the "Zhenlong" plug-in hybrid system, offering a comprehensive range of 1,450 kilometers and an electric range of 202 kilometers, a 46% improvement over the previous model [3] Strategic Shifts - SAIC-GM Buick is pivoting its strategy in response to the competitive pressure from domestic brands, with the GL8 PHEV models becoming a significant part of its lineup [2][4] - The company plans to drop the PHEV suffix for the Lushun and Lushang models, indicating their transition to being the main offerings in the new energy era for the GL8 family [4]

Group 1: Market Overview - In April, the new energy vehicle market saw significant growth, with BYD leading sales at over 380,000 units, followed by Leap Motor and Xiaopeng with remarkable increases in sales [1][4][18] - The overall sales of passenger cars reached 372,615 units, reflecting a year-on-year growth of 19.4% [6] Group 2: BYD Performance - BYD's new energy vehicle sales reached 380,089 units in April, marking a year-on-year increase of 21.3% [3][4] - The sales of BYD's main models, including the Dynasty and Ocean series, totaled 347,053 units, up 16.5% year-on-year [4] Group 3: Other Key Players - SAIC-GM-Wuling's new energy vehicle sales surged by 83.2% to 69,678 units, contributing to a total global sales of 126,455 units, which is a 22% increase [9][10] - Leap Motor achieved a monthly sales record of 41,039 units, a year-on-year increase of 173% [13] - Xiaopeng Motors delivered 35,045 vehicles in April, representing a staggering year-on-year growth of 273% [17][18] - Li Auto's sales reached 33,939 units, with a year-on-year increase of 31.6% [21][24] - Great Wall Motors sold 28,813 new energy vehicles, reflecting a year-on-year growth of 28.42% [27][28] - GAC Aion's sales reached 28,301 units, maintaining positive growth in the new energy vehicle market [33] - Xiaomi delivered over 28,000 vehicles in April, expanding its retail presence significantly [37] - NIO's deliveries totaled 23,900 units, with a year-on-year increase of 53% [40] - Deep Blue's sales reached 20,138 units, marking a year-on-year growth of 58% [45] - Zeekr sold 13,727 units, with a year-on-year increase of 18.7% [47] - Avita's sales reached 11,681 units, a significant year-on-year increase of 122.6% [50] - Lantu sold 10,019 units, reflecting a year-on-year growth of 150% [53] - IM Motors delivered 4,366 units, showing a year-on-year increase of 55% [56]

M.A.D.E产业研究价格指数由安路勤发布，反映乘用车市场终端价格、优惠变化的综合指数体系 整体市场价格变化指数 点 击 蓝 字 关 注 我 们 本文全文共 2431 字，阅读全文约需 8 分钟 二、2025 M.A.D.E产业研究·整体优惠变化指数—2月 三、2025 M.A.D.E产业研究·各车身形式指数—2月 轿车市场 一、 2025 M.A.D.E产业研究·整体价格变化指数—2月 MADE·2月整体市场价格变化指数为-9.75，市场成交均价14.93万 i. 本月市场整体成交均价较上月下降11,853元，环比下降7.36% ii. 本月轿车、SUV和MPV市场终端成交价格均有所下降，轿车市场（10.82%↓）、SUV市场 （3.55%↓）、MPV（3.96%↓） MADE·2月整体市场优惠变化指数为-0.48，市场优惠幅度2.71万 i. 本月市场整体优惠幅度较上月下降3,126元，环比下降10.4% ii. 本月轿车和MPV市场有所下降，SUV市场基本持平SUV（0.1%↑），其中轿车（20.1%↓）、 MPV（5.1%↑） SUV市场 MPV市场 新能源市场价格变化指数 一、2025 M.A.D. ...