A 60-Week Waitlist Has Turned Xiaomi’s SUV Into a Goldmine for Resellers | Carscoops
The Chinese tech giant has received 289,000 orders for the YU7 within just one hour of the new SUV's launch.
7 hours ago
by Brad Anderson
The demand for nearly new Xiaomi YU7s has surged due to lengthy wait times.
The entry-level YU7 Standard has a delivery timeframe of up to 60 weeks.
The SU7 sedan reportedly holds over 88% of its value in the first year.
It’s common for dealers and initial owners of popular vehicles to take delivery and then quickly sell them for a profit. Typically, these vehicles are limited-edition performance models or those produced for a brief period. However, the Xiaomi YU7 does not fall into either category, yet people are already attempting to flip them.
Shortly after it was announced that Xiaomi received 289,000 orders for the YU7 within an hour of opening orders, several of the first vehicles have already appeared for sale. Currently, around 80 YU7s are listed for resale in China, some with significant markups. Clearly, Americans are not the only ones facing steep dealer premiums.
Early Listings, Quick Markups
According to CarNewsChina, used YU7 prices range from approximately 350,000 yuan to 390,000 yuan (around $48,300 – $53,800 at present exchange rates). While Xiaomi’s all-electric SUV appears to be a great deal at those prices, new YU7s start at 279,900 yuan ($38,600) and can go up to 329,900 yuan ($45,600).
Although the YU7 is aimed at the mass market, the immense demand means customers will have to wait a considerable time for delivery. Currently, the wait for the entry-level model is 57-60 weeks, while the Pro variant requires a wait of 49-52 weeks. The flagship Max has wait times of 41-44 weeks.
Resale Value May Remain Strong
Once more YU7 models begin to reach buyers' driveways, the prices of used ones will eventually decline. However, considering the strong affinity Chinese consumers have for the Xiaomi brand, depreciation may be minimal. Local data indicates that the Xiaomi SU7 sedan has achieved the highest resale value among Chinese cars, maintaining 88.91 percent of its value after the first year.
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A 60-Week Waitlist Has Turned Xiaomi’s SUV Into a Goldmine for Resellers | Carscoops
The Chinese tech powerhouse garnered 289,000 orders for the YU7 within only an hour of launching the new SUV.