蔚來-SW蔚來樂道L90定價凸顯性價比，銷量有望超預期

西部證券

2025/08/07

事件：2025年7月31日，蔚來汽車旗下樂道品牌第二款車型樂道L90正式上市，六座版售價26.58-29.98萬元，電池租用方式售價17.98-21.38萬元；七座版售價27.18-29.98萬元，電池租用方式售價18.58-21.38萬元。解決用戶空間體驗痛點，全家人出行均可享受VIP待遇。樂道L90定位純電大型SUV，車身尺寸長寬高分別為5145/1998/1766(1786)mm，軸距為...

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08:17","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2557586203","market":"us","top_or_hot":-1,"title":"蔚來-SW蔚來樂道L90定價凸顯性價比，銷量有望超預期","media":"西部證券","content":"<div>\n<p>事件：2025年7月31日，蔚來汽車旗下樂道品牌第二款車型樂道L90正式上市，六座版售價26.58-29.98萬元，電池租用方式售價17.98-21.38萬元；七座版售價27.18-29.98萬元，電池租用方式售價18.58-21.38萬元。解決用戶空間體驗痛點，全家人出行均可享受VIP待遇。樂道L90定位純電大型SUV，車身尺寸長寬高分別為5145/1998/1766(1786)mm，軸距為...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025080708302994d46bc7&s=b\">網頁鏈接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>蔚來-SW蔚來樂道L90定價凸顯性價比，銷量有望超預期</title>\n<style 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n蔚來-SW蔚來樂道L90定價凸顯性價比，銷量有望超預期\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">西部證券</strong><span class=\"h-time small\">2025-08-07 08:17</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>事件：2025年7月31日，蔚來汽車旗下樂道品牌第二款車型樂道L90正式上市，六座版售價26.58-29.98萬元，電池租用方式售價17.98-21.38萬元；七座版售價27.18-29.98萬元，電池租用方式售價18.58-21.38萬元。解決用戶空間體驗痛點，全家人出行均可享受VIP待遇。樂道L90定位純電大型SUV，車身尺寸長寬高分別為5145/1998/1766(1786)mm，軸距為...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025080708302994d46bc7&s=b\">網頁鏈接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025080708302994d46bc7&s=b\">西部證券</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4504","symbol_name":"橋水持倉","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025080708302994d46bc7&s=b","article_id":"2557586203","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025080708302994d46bc7&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, 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sales are expected to exceed expectations","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SW":1,"09866":0.6,"NIO":1,"EVS.SI":0.6,"NIO.SI":0.6},"content_text":"事件：2025年7月31日，蔚來汽車旗下樂道品牌第二款車型樂道L90正式上市，六座版售價26.58-29.98萬元，電池租用方式售價17.98-21.38萬元；七座版售價27.18-29.98萬元，電池租用方式售價18.58-21.38萬元。解決用户空間體驗痛點，全家人出行均可享受VIP待遇。樂道L90定位純電大型SUV，車身尺寸長寬高分別為5145/1998/1766(1786)mm，軸距為3110mm。大空間是L90的一大亮點，其中六座版二排過道寬度180mm，垂向高度1330mm，小朋友可自由穿梭；三排38°靠背最大調節角度，962mm有效頭部空間，330mm高坐姿，92mm腳部垂向空間，185cm大個子可自由舒躺；七座版還有超大床模式，將整車座椅全部放倒，可形成長3150mm、寬1380mm的超大平層活動空間；除了430L標準容積後備箱，L90還增加240L智能電動前備艙，可車內語音、手機app、輕敲兩下等多種方式開啓，便於行李裝卸。此外，整車採用輕量化技術，最低能耗14.5kWh/百公里。充換電時間均很快，其中換電只需3分鐘，快充充電10%-80%約25分鐘。全面切換為端到端模型，智能化賦能出行安全。樂道L90搭載英偉達Orin X輔助駕駛芯片和高通8295P高性能座艙芯片。此外，今年樂道智能輔助駕駛將全面切換為端到端模型，行車泊車更輕鬆便捷，駕駛更安全。滿配不超30萬元，定價凸顯性價比。樂道L90全系標配座椅加熱、智能電動冰箱、二排右側小桌板、8英寸後排場景屏、ARHUD等舒適性配置，max和ultra版還有吸頂娛樂屏、空氣懸架等，此外ultra版還加配二排右側零重力座椅，售價不超30萬元，性價比凸顯。舒適性配置與全車內外大空間的組合，也十分適合大家庭、長途旅行羣體，預計銷量有望超預期。盈利預測：我們預計2025-2027年公司營收分別為990/1330/1487億元，按年增長51%/34%/12%，當前股價對應2025-2027年PS分別為0.75/0.56/0.50倍。維持「增持」評級。風險提示：行業競爭加劇，公司銷量不及預期風險；樂道、螢火蟲等新品牌進展不及預期風險；換電站業務不及預期風險；匯率風險等。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}