大行评级丨花旗:予小鹏汽车“买入”评级及目标价29美元 G7定价符合预期

格隆汇
Jul 04, 2025

花旗表示,小鹏汽车于7月3日推出G7(中型纯电动SUV),定价符合预期,为19.58万至22.58万元。G7在产品发布后9分钟内录得超过1万份不可退款订单,表现符合预期,因其已预售超过20天。该行认为,G7后期的订单增长趋势将是关键。在定价方面,G7比P7+贵1万至2万,这是房车与SUV之间的正常价格差距。 花旗认为G7的性能中规中矩,原因包括:(1)其车型尺寸(中型)小于YU7/i8(中大型);(2)仅提供两轮驱动,最大马力296匹(比极氪7X低100匹以上)。鉴于中规中矩的性能,该行认为G7的卖点在于高级驾驶辅助系统(ADAS)和智能座舱,但这不太可能使G7成为如小米(01810.HK)YU7般的热销车型。 考虑到符合预期的定价、不错的用户优惠及当前竞争环境,该行预计G7的稳定月销量为8,000至10,000辆,予小鹏汽车“买入”评级,目标价29美元。

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