Popularity of New Xiaomi SU7 Leads to Rapid Resales
Unusually, new Xiaomi SU7 electric cars are already appearing on the secondary market with significant markups. While such a situation usually concerns limited series or exclusive models, the SU7 is a mass-market product. However, after receiving 289,000 orders in just the first hour, some owners are attempting to resell them.
The market already has about 80 SU7s available, with prices ranging from 350,000 to 390,000 yuan. For comparison, the new model starts at 279,900 yuan. Such markups are explained by long waiting times: from 57 weeks for the base version to 41 weeks for the top trim.
High Residual Value
Despite an expected price drop on the secondary market, the SU7 may retain its high value. Data shows that this model demonstrates the best residual value among Chinese cars, losing only 11% of its value in the first year. This is explained by the popularity of the Xiaomi brand among Chinese consumers.
The situation with the SU7 resembles trends observed with other popular electric cars, where a supply shortage led to artificial price increases. However, as deliveries increase, the market is expected to stabilize, although brand loyalty may continue to keep prices high.