全球汽车：2026年最值得期待的新车发布

Harry Martin, CFA+44 20 7676 8965harry.martin@bernsteinsg.comAlice Buckley+44 20 7676 6739alice.buckley@bernsteinsg.comStephen Reitman+44 20 7762 5535stephen.reitman@bernsteinsg.comSteve Pereira Fernandes, CFA+44 20 7676 7254steve.pereira-fernandes@bernsteinsg.comGali Salvatorelli Naraghi+44 20 7676 6741gali.salvatorelli-naraghi@bernsteinsg.com 2025 was a turbulent year for autos (aren’t they all) but the intensityof new car launches showed no signs of easing this year includingsome genuinely great products. Xiaomi’s YU7 SUV took the Chinamarket by storm in July gaining 240,000 orders in the first 18 hourson sale, and European OEMs fought back at the IAA Munich show for readers who have had a very good year, the 999 production runis not yet fully sold. Starting price: £850k, after options most likely >£1m. EXHIBIT 1:Aston Martin Valhalla In the US new product launches continue although tariffsand changing emission rules appear to be taking up most ofmanagement’s focus; with sales of its cars in the US down byalmost 8% yoy in 11M25, it is of little surprise that Tesla is ratheremphasizing its efforts in AI, Robotaxi operation and humanoidrobots. In Japan, despite the impact of US tariffs, many automakers We compile our favourite launches to come in 2026, hopefullyproviding a useful guide to anyone entering the holidays with Source: Company website McLaren W1 The W1 is McLaren’s successor to the top of the range hypercar theP1. Launching on the back of an F1 championship win is perfecttiming, and McLaren also got new owners this year after beingacquired by CYVN Holdings of Abu Dhabi who also own luxury BEVstart up Forseven and a strategic interest in NIO. This new structure KEY LAUNCHES INTO EUROPE & U.S. IN 2026 LUXURY Aston Martin Valhalla The Valhalla is a leap forward for the Aston Martin brand as its first-ever mid-engine supercar with PHEV technology. This car wasactually first launched a decade ago, but saw delays and majorchanges to product (as well as many cancelled deposits) but isfinally hitting the road. First deliveries have already started in Q42025, with 500 set to be delivered in 2026 (BERNe). This car will Starting price: £2m On 9 September 2025, Ferrari announced the launches of the849 Testarossa and the 849 Testarossa Spider. These succeedthe SF90 Stradale and the SF90 Spider, and share the concept ofa V8 powertrain supplemented by two conventional e-motors atthe front and an axial flux motor at the rear, supplied by YASA. 849Testarossa deliveries will begin in 2Q26 and the 849 Testarossa Starting price of 849 Testarossa and 849 Testarossa Spider:€460,000 and €500,000 respectively EXHIBIT 4:Ferrari 849Testarossa EXHIBIT 5:Ferrari 849Testarossa Spider Ferrari F80 The €3.6m F80 is the latest top-of-the-line supercar from Ferrari.The first “handful” of shipments of the planned 799 unit productionrun started in 4Q25. Shipments will ramp up during 2026, peakin 2027 and run down in 2028. The F80 succeeds the LaFerrari(2013-16) which was priced at €1.2m; this had a 499 unitsproduction run and was made available to Ferrari’s most loyalcollectors. The number of eligible customers who were interestedin having an allocation at the time was said to be double the Ferrari Amalfi On 2 July 2025, Ferrari announced the launch of the Amalfi, thesuccessor to the Roma, Ferrari’s entry model. The Roma begandeliveries in 4Q20, and was phased out in 3Q24. Upon its release,the Roma had a base price of €200,936, and which over its lifecycle rose to €219,071. The Amalfi is set to begin deliveries in Starting price: €240,000 Starting price: €3.6m EXHIBIT 6:Ferrari Amalfi Ferrari Elettrica Although we haven’t been given any images of the forthcomingElettrica, at its CMD on 9 October 2025 Ferrari provided alot oftechnical detail on the platform and drive-train (Ferrari Elettrica). Atthe start of 2026, the company plans to show the Elettrica’s interiordesign and user interface which benefits from inputs from Jony Ive Ferrari 849 Testarossa and 849 Testarossa Spider EXHIBIT 10:BMW iX3 from€68,900 in Germany products. The full unveiling of the car will take place a few monthslater before customer deliveries begin as planned in 4Q26. Starting price (Bernstein estimate): €520,000 EXHIBIT 8:Still to be unveiled Ferrari Elettrica Source: BMW Source: BMW Mercedes-Benz GLC electric After having faced difficulties in generating strong sales volumesfrom its EVA2 BEV-native platform launched in 2021 with the EQSfollowed by the EQE, Mercedes has made a reset. In July 2025,it started to deliver the first vehicle that adopted its new MMAplatform designed for entry-level cars, namely the all-electricCLA. The CLA has thus far received excellent reviews, includingGermany’ most popular and influential car magazineAuto Motor undSportthat gave it the highest score a BEV has ever received, andthe UK’sCAR Magazinethat opined there’s a case that the electricCLA is the best ever compact car that has come fro