138,700 on sale! Geely Galaxy L7 listed, hybrid market volume intensified
The daily economic news reports that the mixed market has welcomed another challenger.
On May 31, Geely Galaxy L7 was officially launched. The new car launched a total of 5 models. The official guide price was 138,700~ 173,700 yuan, which was lower than market expectations. And many netizens also called "Zhenxiang" "Hybrid car price has been shot down" "Independent real cow" and so on.
In fact, the "price war" launched by the car market this year has spread to the new car market, which can be seen from the hybrid ace products of the independent Three Musketeers. On May 15, Haval Xiaolong MAX was officially launched, with a total of 3 models, priced at 159,800~ 179,800 yuan; on May 25, BYD’s new Song Pro DM-i Champion Edition was officially launched, and the new car released a total of 4 models, continuing the tradition of "the same price of oil and electricity" and guiding the price 135,800~ 159,800 yuan.
From the above data, it can be seen that Geely Galaxy L7, Haval Xiaolong MAX and BYD Song Pro DM-i Champion Edition have a high degree of overlap in the price range of these two models, which will form a frontal competition.
Picture source: Every reporter, Sun Tongtong, photo
"The recent listing of autonomous hybrid products is not priced high, which is conducive to full competition in the new energy vehicle market. It can also enhance product competitiveness and achieve replacement for oil vehicles. At the same time, it will further reduce the general price of hybrid models." Cui Dongshu, secretary-general of the National Passenger Car Market Information Association, said in an interview with the Daily Economic News reporter.
In fact, the above-mentioned models are not just about price, but also compete in various aspects such as new car performance configuration, intelligent technology, and user service.
As the first model of the Galaxy product series, Geely Galaxy L7 is equipped with a "new generation Raytheon Hybrid 8848" power system, with a thermal efficiency of 44.26%, a fuel consumption of 5.23L (NEDC 4.4L) for 100 kilometers of power loss, and a comprehensive cruising range of 1370km under CLTC conditions. In addition, the new car is equipped with a Qualcomm Snapdragon 8155 chip as standard, and the Keyword Spotting speed is only 0.5 seconds. It supports full scene visibility, four-tone zone recognition, and deep continuous dialogue.
It is worth noting that the battery safety is also regarded as a brand life infra by Geely Galaxy. It is understood that Geely Galaxy L7 is equipped with the "Aegis battery safety system" for the first time. Not long ago, the new car completed the vehicle-level safety test at the China Automotive Research and Automotive Safety Technology Center, and passed the vehicle speed 40km/h forward scraping, the vehicle speed 7km/h rear scraping, the vehicle 20km/h negative impact and the vehicle bottom support four vehicle-level battery safety tests.
The Haval Xiaolong MAX, which was listed first, was also highly expected by Great Wall Motors. It is reported that the Haval Xiaolong MAX is the first model equipped with the Great Wall’s new hybrid architecture Hi4 intelligent electric hybrid four-wheel drive system, carrying the important mission of the Haval brand’s transformation to new energy.
Image source: Photo by Fan Wenqing, a reporter
It is worth noting that in the field of new energy vehicles, both Geely Galaxy and Great Wall Haval are trying to catch up with BYD in front. Data show that BYD’s cumulative sales in 2022 exceeded 1.86 million new cars, an increase of more than 150% year-on-year. In the first quarter of this year, BYD’s cumulative sales exceeded 552,000 vehicles, an increase of 92.81% year-on-year, and its share in the domestic new energy vehicle market increased by 13 percentage points.
It is worth mentioning that BYD has taken the lead in the hybrid market. The cumulative sales of hybrid models last year were 946,000, an increase of 246.7% year-on-year. Among them, the Song PLUS DM-i won the championship of the SUV model sales list in 2022 with more than 380,000 sales. The BYD Song PLUS DM-i is already a model released two years ago, and is expected to be released in the middle of this year. Industry experts speculate that the mid-term change will also be like the series of championship models launched by BYD Dynasty Network this year, with multi-faceted upgrades in configuration, but the price will be reduced.
In the context of the launch of a number of new cars, the hybrid market also shows great growth potential. According to the data of the Passenger Federation, from January to April this year, the retail sales of plug-in hybrid models increased by 92.1% year-on-year, and the retail sales of pure electric models increased by 19.9% year-on-year. It is argued that in addition to BYD, Geely and Great Wall, more brands will join the "hybrid war", and this market segment will also be more "involution".
Original title: 138,700 on sale! Geely Galaxy L7 listed, hybrid market volume intensified
Editor: Li Zhoufang
Editor in Charge: Liao Yi
Review: Feng Fei