Citi said the market response to the launches of Li Auto’s updated L8 and BYD’s updated Denza N8L has been neutral.
According to Jin10, Citi said Li Auto (02015.HK) released the new L8 on June 23, adding stronger features but no longer offering a six-seat version. Citi’s preliminary estimate said the L8 could benefit from replacement demand, with first-month orders possibly reaching 8,500 units, followed by monthly sales stabilizing at 5,000 to 6,000 units.
Citi said BYD (01211.HK) also released the new Denza N8L on June 23, with the price raised by RMB 20,000 versus the previous model. The bank attributed the increase mainly to a larger battery capacity of 72.26 kWh and an all-electric range of 430 km. Citi said the new model’s main functions are similar to the previous version and expected the market reaction to be neutral, with monthly sales forecast at about 3,000 to 4,000 units.
Citi said investors remain more focused on June electric-vehicle retail sales performance.
STOCKS | Citi Sees Neutral Market Response to Li Auto L8 and BYD Denza N8L Launches
2026-06-24 12:49:28
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