The selling prices of SUV models in the C/D segment market mainly concentrate within the range of 250k to 350k (>70%).
Among them, EREV models represented by Li Auto and AITO account for more than 50% of the market share, while models account for 18% of the share.

In the main target market of the L90, the AITO M9 EREV and Li L9 EREV hold an absolute dominant position. Among pure electric models, the ES8, NIO’s current flagship SUV, has a starting price as high as 500k RMB, lagging significantly in sales compared to the AITO M9 EV and Xpeng X9 EV. For the L90 to enter this market, the pricing of its products will be crucial.

Based on the fact that EREV dominates this niche market and the preliminary simulation of the competitive relationship between ONVO L90 and its competitors, the reasonable pricing range for L90 is 299,800 – 349,800 RMB.
Its annual sales volume benchmark is expected to be 30,000 – 35,000 units, and optimistically, it will reach 40,000 – 50,000 units.

In the Chinese market in 2024, Porsche SUV retail volume declined by 33% YoY, with main model Cayenne dropping by 25%; sedan retail volume fell by 31% YoY; among sportscars, the 718 and 911 declined by 26% and 42% respectively.

From a city tier perspective, Porsche retail sales in tier 1 & new tier 1 cities declined by 31% YoY, while retail sales in tier 2 & 3 cities declined by 34% YoY.

In the 500,000+ yuan segment, Porsche’s share in Tier 1 and New Tier 1 cities dropped from 9.8% in 2023 to 8.5% in 2024, while its share in Tier 2 and Tier 3 cities declined from 8.1% in 2023 to 7.1% in 2024. This indicates that the rise of Huawei AITO is encroaching on the luxury car market, including Porsche.

As a direct competitor to the Porsche Cayenne, Huawei’s AITO M9 has completely outperformed the Porsche Cayenne in the retail market thanks to its powerful product capabilities.