© Reuters. Morgan Stanley feedback on Huawei-backed AITO’s M9 launch
Huawei-backed automaker AITO unveiled its newest M9 SUV on Tuesday, hitting the market with a beginning value of Rmb469.8k. The M9 lineup presents each EREV (extended-range electrical automobile) and BEV (battery electrical automobile) variations, with the BEV variant priced Rmb40k increased.
The automobile’s value exceeded the lowered market expectations, but Morgan Stanley described the automobile’s specs and technological options as “compelling”.
“Without including a cheaper PLUS version in the portfolio, M9’s starting price came in higher than the market’s expectation of sub-Rmb450k”, wrote Morgan Stanley analysts in a notice.
Consistent with M9’s declare because the “top SUV below Rmb10mn,” the M9 contains options corresponding to city ADS, 800V charging (for the BEV mannequin), air suspension programs, AR-HUD, and sensible voice management the comes customary throughout all variations.
Publish-launch discussions with buyers revealed an anticipation for the entry-level M9 EREV to be competitively priced between Rmb400-450k, aligning it with rival choices like Li Auto (NASDAQ:)’s L9 out there phase.
Nevertheless, gross sales professionals interviewed by Morgan Stanley expressed confidence within the AITO M9’s superior options justify the automobile’s premium pricing. They consider the M9’s specs give it a big edge over equally sized SUVs/MPVs from overseas manufacturers out there.
Notably, the M9 swiftly rolled out for check drives throughout greater than 250 retail shops, with an preliminary batch slated for supply by January’s finish and mass deliveries anticipated by February’s shut.
In line with Morgan Stanley, suggestions from the availability chain signifies that pre-orders for the M9 have exceeded 50,000 models previous to the official launch. Traders are carefully monitoring the conversion of those pre-orders into confirmed orders.
Preliminary suggestions from the availability chain hints at a possible 20-30% conversion price, substantiated by the M9 locking in 10,000 confirmed orders inside two hours of its debut, as per AITO’s experiences, a pattern Morgan Stanley analysts discover promising.