Xiaomi’s SU7 has been on the market for just two months, and some car owners have already started to sell their vehicles. Some commentators believe that the situation of the Xiaomi SU7 is a microcosm of the new energy vehicle market in China.
The Xiaomi SU7 is an all-electric sedan under Xiaomi Automobile Co., Ltd., positioned as a “C-class high-performance ecological tech sedan.” It was launched in the market in April this year and delivered to customers. However, just two months later, some car owners have started to sell their vehicles, and the Xiaomi’s second-hand car market has started to get active.
Damei, a well-known Chinese media platform, introduced several cases of car owners selling their vehicles recently on June 18.
According to Damei, a car owner named Zeng Wei (pseudonym) from Jiangsu received his Xiaomi SU7 at the end of April, only drove 2600 kilometers, and has already sold the car; Meng Jing (pseudonym) from Beijing, who only got his license plate in May and drove less than 3000 kilometers, listed his SU7 Max in ‘Xiaguang Purple’ color for sale at 328,000 yuan on a second-hand trading platform in June; Fang Cheng (pseudonym) initially placed an order for the Xiaomi SU7 in April but decided to sell his order after learning that he would have to wait until after October to get the car, opting to purchase another electric vehicle from a different Chinese brand.
As for the reasons for selling the vehicles, Zeng Wei sold his SU7 due to financial constraints from the car loan, car insurance, cost of charging facilities, monthly installments, rent, and low income; Meng Jing sold his SU7 because of his taller stature; after driving it for some time, he felt that the disadvantages of the SU7 compared to SUV models were becoming more prominent, as the driver’s seat felt cramped and the rear seat space was not comfortable enough. He found that the SU7 was not suitable as a family car and decided to sell it.
Since Zeng Wei’s SU7 had lower specifications, there was little interest in his car except from second-hand car dealers. He had to lower the price by 9,000 RMB to sell it to a dealer; Meng Jing’s SU7, on the other hand, with the “Founder’s Edition” and the popular “Xiaguang Purple” paint color, attracted many inquiries after being listed online, despite being priced 2,000 RMB higher than the official price on the website.
A master’s degree holder from the Chinese Academy of Sciences and an independent investor, “Chang Brother Investment Chat,” published an article on June 18 stating that the second-hand market for Xiaomi SU7 is heating up, revealing the shortcomings of the electric vehicle market in China.
The article mentioned that firstly, while car companies are pursuing individuality and technology, they have overlooked the practical attributes of cars as transportation vehicles.
Secondly, in a rapidly changing market, consumers’ demands are becoming more diverse, and how companies can innovate while meeting consumers’ basic needs is a question worth pondering.
Furthermore, car companies should listen to the market’s feedback, continually optimize products, improve services to gain consumers’ trust and support.
“Chang Brother Investment Chat” also reminded consumers looking to buy cars to make rational decisions and not follow trends blindly or regret their impulsive choices.
Since the release of the Xiaomi SU7, concerns such as “non-refundable deposits,” “seat bulging,” “unfulfilled paint jobs,” “cutting corners in production,” and “multiple accidents during test drives” have repeatedly trended on social media.
On the morning of June 7, in a community entrance in Haikou, Hainan Province, a Xiaomi SU7 lost control, collided with two electric cars, resulting in 1 death and 3 injuries. Some Chinese media speculate that the accident may be related to brake failure, although Xiaomi has denied this claim.