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<Research>CLSA: XPENG-W GX Should Optimize Product Mix, Support Margins; Reiterates Outperform
Recommend 12 Positive 16 Negative 7 |
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XPENG-W (09868.HK) launched its new model, XPeng GX, today (21st), with a price range of RMB269,800-349,800, and offering a limited-time RMB10,000 discount, lower than the pre-sale price and market expectations, CLSA said in its report. Within this price range, the GX provides strong autonomous driving and safety features with outstanding cost-performance, although interior differentiation is limited, said the broker. CLSA expected that, after the initial promotional phase, margins could stabilize at around 15-20%, despite margins during the launch period being briefly diluted by discounts. Overall, the GX should help optimize XPENG's product mix, support margins, and facilitate the achievement of the broker's 2026 sales forecast of approximately 453,000 vehicles. The broker reiterated its Outperform rating, with an H-share TP of HKD80 and a US-share TP of USD20 for XPeng Inc. (XPEV.US). Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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