According to East Money, nearly new Xiaomi YU7s are increasingly appearing on the used car market in China, with resale prices exceeding the manufacturer's suggested retail price. The YU7, Xiaomi's second model after the SU7, began deliveries on 6/7.
Data from Dongchedi shows over 80 Xiaomi YU7s listed for resale nationwide, priced between 48,300 and 53,800 USD (350,000-390,000 CNY). The original retail prices are 35,000 USD (253,500 CNY) for the Standard version, 38,600 USD (279,900 CNY) for the Pro version, and 45,600 USD (329,900 CNY) for the Max version.
Most resales are the Max version, typically with less than 100 km on the odometer. The price difference between used and new vehicles is commonly between $1,400 and $2,800 (10,000-20,000 CNY).
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A Xiaomi YU7 electric vehicle (left) parked next to a Ferrari Purosangue supercar in a parking garage in China. Photo: Yan Chuang |
A Xiaomi YU7 electric vehicle (left) parked next to a Ferrari Purosangue supercar in a parking garage in China. Photo: Yan Chuang
Industry reports suggest two primary sources for these listings: vehicles initially purchased by professional dealers for resale, and those bought from original owners by used car platforms, then resold at a markup.
At launch, Xiaomi reported 200,000 pre-orders within three minutes and 248,000 orders locked in within 18 hours. To address speculation concerns, the company implemented restrictions: each buyer could only place one order for an available or customized YU7 within the first 24 hours. Orders could be modified for up to 168 hours after deposit. After this period, orders were locked, changes were prohibited, and deposits were non-refundable.
Delivery times for new YU7 orders remain lengthy, according to Xiaomi's app. The Standard version takes 57-60 weeks, the Pro version 49-52 weeks, and the Max version 41-44 weeks from order lock to delivery.
The Xiaomi SU7 experienced a similar resale price increase after its launch. However, used SU7 prices later normalized.
Meanwhile, Xiaomi cited a new report by the China Automobile Dealers Association (CADA) and the Jingzhengu pricing platform, ranking the SU7 as having the highest one-year resale value among all models in China, at 88.91%. The Aito M7 (84.45%) and Li Auto Mega (79.58%) followed.
Xiaomi CEO Lei Jun shared the report on social media, thanking supporters. The Ministry of Industry and Information Technology of China is reportedly considering regulations prohibiting vehicle resale within six months of initial registration to curb short-term speculation in the used car market.
My Anh (CarNewsChina)
