96 hours after the launch of Xiaomi YU7: Stores are open until 3 a.m., scalpers resell the product at a markup of 20,000 yuan, and rival brands reimburse customers' deposit to snatch orders.
Is the order frenzy of Xiaomi YU7 a sweet treat or a deadly poison? A deep dive into 10 key questions.
According to a report by CheDongXi on June 30th, Xiaomi YU7 recently opened for pre - orders. In just 3 minutes, the number of firm orders exceeded 200,000, and within 1 hour, it soared to over 289,000. These figures set a new sales record for global automakers. Subsequently, Xiaomi Auto officially announced that 18 hours after the launch of Xiaomi YU7, the number of locked orders had exceeded 240,000.
240,000 locked orders within 18 hours of YU7's launch
It's worth noting that a firm order means paying a deposit of 5,000 yuan, which is refundable if the order is not locked within 7 days. Once the order is locked, information such as configuration, license - plate owner, and delivery center cannot be modified, and the deposit is non - refundable.
Based on the starting price of 253,500 yuan, 18 hours after the launch of Xiaomi YU7, the sales revenue of the new car had reached 60.84 billion yuan.
Everyone knows about the popularity of YU7, but there are more questions behind the new car waiting to be uncovered. After some research, CheDongXi dissected 10 industry truths behind the hot sales of the new car.
1. It has been 72 hours since Xiaomi YU7 opened for pre - orders. What is the current number of new car orders? When can customers pick up their cars?
According to a report by blogger Sun Shaojun, Xiaomi added over 280,000 locked orders last week. 72 hours after the launch of Xiaomi YU7, each store added an average of 800 - 900 locked orders, with a locking rate of 75% - 80%.
Regarding the pick - up time, the Xiaomi Auto App shows that the standard version is expected to be delivered in 53 - 56 weeks, the Pro version in 48 - 51 weeks, and the Max version in 33 - 36 weeks. That means users who order the standard version have to wait at least a year for delivery.
Lei Jun previously made a solemn promise: "I will spare no effort to speed up production."
Lei Jun said he would spare no effort to ensure production
2. Which version of Xiaomi YU7 sells the best? What are the reasons?
According to relevant information, as of now, the standard version of Xiaomi YU7 (priced at 253,500 yuan) has the highest sales volume among the three versions, accounting for 55%, far exceeding the 25% of the Pro version (279,900 yuan) and the 20% of the Max version (329,900 yuan).
Configuration information of Xiaomi YU7
This result is highly consistent with the result of the "Which version to buy" vote initiated by Lei Jun before. In the vote with 15,000 participants, more than 6,700 people chose the standard version, far exceeding the top - end Max version.
The reason behind this is closely related to cost - effectiveness.
The standard version of Xiaomi YU7 is priced at 253,500 yuan, 26,400 yuan lower than the Pro version and 76,400 yuan lower than the Max version. It is also 10,000 yuan cheaper than the rear - wheel - drive version of Tesla Model Y (263,500 yuan), showing an obvious price advantage.
Moreover, the standard version of YU7 has a rich configuration. The whole series comes standard with an 800V high - voltage platform, a lidar, a 96.3kWh large - capacity battery, and a range of 835km and other core configurations, allowing users to meet their basic needs without additional options.
Endurance capacity of Xiaomi YU7
Compared with the four - wheel - drive system of the Pro version and the sub - 3 - second acceleration of the Max version, for most users, the cost - effectiveness advantage of the standard version may be more prominent.
3. Which functions of YU7 do users value more?
From user discussions and actual test feedback on major social media platforms (Weibo, Bilibili, car forums, Xiaohongshu, etc.), five functions/configurations of Xiaomi YU7 are the most popular among users.
A blogger praises Xiaomi's Sky Screen
They are: the Sky Screen panoramic display system, long - range and ultra - fast charging technology, standard intelligent driving across the whole series, dual zero - gravity seats + 135° luxury electric seats + a refrigerator, and safety protection design against sun exposure and motion sickness. These features have sparked extensive discussions and received wide recognition from users.
Sky Screen panoramic display system (Source: Internet)
4. What are the users' complaints after the new car was launched?
Three days after the launch of Xiaomi YU7, it was reported that there might have been a situation of secretly modifying the configuration list. Some car owners found changes in the rear - view mirror configuration after placing their orders.
Recently, many car owners reported that when they placed their orders, the Xiaomi Auto App showed that both the standard and Pro versions of YU7 had the "auto - dimming exterior rear - view mirror" function. However, after locking the order, this function was only marked on the top - end Max version on the "Quick understanding of version differences" page.
Netizens questioned Lei Jun about the configuration controversy of YU7 (Source: Internet)
Some car bloggers revealed that before 12:00 noon on June 29th, the exterior rear - view mirror configuration of the YU7 Pro version was clearly marked as auto - dimming, but after 12:00 noon, Xiaomi Auto urgently modified the configuration list. During the YU7 press conference before, only the Max version was marked with auto - dimming rear - view mirrors. Therefore, many people think this might be a mistake by Xiaomi's staff.
Prices and configurations of the three versions of Xiaomi YU7
As of now, Xiaomi Auto has not issued an official response to this incident.
5. What are the real challenges behind the hot orders of Xiaomi YU7?
The hot orders of Xiaomi YU7 seem extremely successful, but there are three major challenges behind them - the actual conversion rate, the user repurchase rate, and the vehicle delivery capacity.
Although the locking rate of Xiaomi Auto reached 75% - 80% within 72 hours, the locking rate does not equal the conversion rate. The "firm order" of Xiaomi is actually a refundable deposit, and the real conversion depends on the final vehicle pick - up.
In addition, as a new player in the automotive industry, Xiaomi's user repurchase rate highly depends on the first - time car - buying experience. The current configuration controversy and delivery delays of YU7 may affect users' brand trust. If these issues cannot be resolved in time, users may turn to other car brands.
6. What vehicle delivery challenges does Xiaomi Auto still face?
According to relevant reports, the initial annual production capacity of Xiaomi's first - phase factory was only 150,000 vehicles. With the factory running 24 hours a day, the monthly production capacity was further squeezed to 25,000 - 30,000 vehicles.
Although YU7 and SU7 share the same platform, 90% of the parts have been re - developed, making it difficult to adapt the production line and potentially further delaying the release of production capacity.
Currently, the number of locked orders for YU7 has exceeded 240,000. Even if the second - phase factory is put into production in July, it will still take time for the production capacity to ramp up. According to this progress, many media speculate that it may take more than a year to deliver the 240,000 new car orders, and some users may not get their cars until early 2027.
Overall rendering of the second - phase of Xiaomi Auto Factory (Source: Beijing Municipal Planning and Natural Resources Commission)
7. What impact does the popularity of Xiaomi YU7 have on the automotive industry ecosystem?
The sales boom of Xiaomi YU7 has given rise to a gray industry of scalpers reselling orders at a premium.
On the night when Xiaomi YU7 was launched, many scalpers resold YU7 orders at a premium of 10,000 yuan, and a small number of scalpers resold YU7 Max orders at a premium of 20,000 yuan.
Reselling of YU7 orders on Xianyu (Source: Internet)
According to an incomplete statistics by CheDongXi, as of 20:00 on June 30th, there were 439 orders of Xiaomi YU7 for delivery in Beijing being resold on Xianyu alone, with the resale premium ranging from 1,999 yuan to 20,000 yuan. The resale price mainly depends on the length of the delivery cycle.
Reselling and renting of YU7 orders on Xianyu
In addition to reselling orders, the car - rental business of YU7 is also on the rise.
On the Xianyu platform, many netizens claim to be among the first - batch car owners and offer daily rental prices ranging from 2,000 yuan to 15,000 yuan, which is even higher than the rental prices of Lamborghini, Ferrari and other models.
