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<Research>Citi: XPENG-W's MONA M03 Max Model Lineup & Pricing in Line; Monthly Sales Expected to Rise to 17-18K Units
Recommend 14 Positive 28 Negative 15 |
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According to a report from Citi, XPENG-W (09868.HK) (XPEV.US) has launched the MONA M03 Max (502/ 600 km range versions), which supports Advanced Driver Assistance Systems (ADAS, including Highway + City NOA), with an average price of RMB129,800/ 139,800. Meanwhile, the MONA M03 Plus (515/ 620 km range versions) has also been upgraded, with the average price unchanged at RMB119,800/ 129,800. In Citi's opinion, the announced model lineup and average pricing were generally in line with market expectations. The broker forecasted that monthly sales of the MONA M03 (Plus + Max) would rise from the current level of around 14,000 units to between 17,000 and 18,000 units (with most orders expected to go to the Max version), considering several factors including that recent price competition from carmakers like BYD COMPANY (01211.HK) and LEAPMOTOR (09863.HK) on entry-level models has reduced the competitiveness of the M03 Plus (which has not changed its price) compared to BYD/ Galaxy models. Citi set its target price for XPENG-W's US shares at USD29 and gave it a Buy rating. AAStocks Financial News |
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