Domestic Large SUVs Collectively Move Upmarket

[Market Trend] A wave of domestically produced large SUVs has hit the market, with prices dropping into the RMB 100,000 range, directly challenging joint-venture brands in their traditional stronghold segments.

Core Development: Homegrown Brands No Longer 'Budget Alternatives'—Now Directly Competing with Foreign Flagships

The AITO M9 starts at RMB 479,800, while the NIO ES9 is priced between RMB 498,000 and 628,000, placing them in direct competition with premium foreign SUVs. Meanwhile, models like the Leapmotor D19, Chery Fulwin T11, and Deepal S09 have pushed the entry point for large SUVs below RMB 200,000, with new entrants even penetrating the RMB 100,000+ price bracket.

Strategic Foundation: Cost Control + Electrification & Intelligence Enable Competitive Pricing

Foreign brands are constrained by their reliance on legacy ICE platforms and global pricing strategies, making it difficult to lower prices without sacrificing profitability. In contrast, Chinese automakers leverage in-house developed triad EV technologies (battery, motor, ECU), localized supply chains, and software-defined vehicle capabilities to deliver high-spec vehicles at lower prices.

Industry Impact: The Joint-Venture Mid-to-Large SUV Segment Is Rapidly Shrinking

With sustained strong sales of models like the Li Auto L9 and Zeekr 9X, consumer demand for "spacious interiors + intelligent cabins" has surged, forcing a restructuring of the market landscape. Foreign brands are already showing signs of weakness in this segment.