Can Guangzhou Auto Show win the turnaround battle？ Pricing is the key

Can GAC make a comeback at the Guangzhou Auto Show?

The 2024 Guangzhou Auto Show has almost become the stage for new energy vehicles. The electric vehicle booth is crowded, while the fuel vehicle booth is deserted. This comparison shows that the electrification of vehicles has entered a critical stage, and the competition between electric vehicles and fuel vehicles will reach a climax in 2025. In this context, GAC Honda has launched a new brand "Ye", and its first model "Ye P7" is expected to be launched in the first half of 2025. Can this car help Honda break through in the new energy vehicle market?

The price of the product will be the key factor. The "Ye P7" already has all the elements of a popular electric car, such as a rear-drive/four-wheel drive ternary lithium battery, a high-performance large screen and HUD. The car offers a rear-drive option with a peak power of 200kW and a four-wheel drive option that increases the front maximum power of 150kW (350kW in total). The 100-kilometer acceleration time is 4.6 seconds, which is a first-line level among pure electric SUVs.

The "Ye P7" uses a ternary lithium battery pack with a maximum capacity of 90kWh, and is equipped with a floating center control screen and an LCD instrument panel. The instrument panel is naturally integrated with the center console, giving a strong sense of design. In addition, it is also equipped with a 41.9-inch HUD and a BOSE sound system with headrest speakers, which are rich in configuration.

However, with reference to the sales data of other Honda electric vehicles, the performance is not ideal. For example, the GAC Honda e: NP1 and e: NP2 and Dongfeng Honda e: NS1 and e: NS2 (Hunting Light) have low retail sales in October 2024. Among them, although the Honda Hunting Light was highly anticipated when it was launched, it failed to gain market recognition due to high pricing. Hunting Light has a full range of front-wheel drive, with a maximum power of 150kW in the motor, a battery capacity of 68.8kWh, and a range of only 545 kilometers. In contrast, the price of compact domestic electric SUVs is more competitive.