Xiaomi Auto announced its March 2026 delivery figures yesterday, reporting over 20,000 units delivered, a performance consistent with February. The new SU7, which began deliveries on March 23, has accumulated over 7,000 units in nine days. However, the previously high-flying YU7, which saw 37,869 units delivered in January, appears to be struggling with declining orders, fueling speculation that its initial launch bonus has run out. The YU7, launched on June 18, 2025, initially experienced explosive order growth, leveraging Xiaomi’s vast user base, an attractive starting price of 253,500 yuan (36,700 USD), and extensive marketing spearheaded by Lei Jun. Within three minutes of its launch, firm orders for the YU7 surpassed 200,000 units, reaching 289,000 in an hour, and over 240,000 locked orders within 18 hours. This massive order backlog propelled YU7’s deliveries, culminating in a peak of 37,869 units in January 2026, making it the top-selling vehicle in the domestic market and helping Xiaomi Auto break into the top three new energy vehicle manufacturers. Initially, delivery waiting times for the YU7 were substantial: 53-56 weeks for the Standard version, 48-51 weeks for the Pro, and 33-36 weeks for the Max. Today, Xiaomi Auto’s official website shows significantly shorter lead times: 7-10 weeks for the Standard, 9-12 weeks for the Pro, and 11-14 weeks for the Max. While increased production capacity might contribute to this reduction, it more strongly suggests a dwindling order book. Xiaomi YU7 in a Xiaomi store. According to Xiaomi Auto’s data, cumulative YU7 deliveries surpassed 200,000 units around February this year, indicating that most of the initial locked orders have been fulfilled. Goldman Sachs data from early March showed Xiaomi Auto’s weekly orders falling to approximately 4,000 units. Even if these were all YU7 orders, the monthly total would be less than 20,000 units, a stark contrast to its peak monthly sales of nearly 38,000 units. The YU7, which created a sensation at launch, appears to be losing momentum after fulfilling its initial wave of orders. According to Chinese media EV Insights, Xiaomi Auto has relied on “Lei Jun’s endorsement and Mi Fan purchases,” lacking a mature sales system and channel network. This reliance is a significant factor behind the order shortfall once the initial launch bonus dissipates. To address this, Xiaomi Auto recently brought on Kong Yanshuang, former General Manager of Tesla China, in March this year. Kong Yanshuang has taken over automotive sales responsibilities and is expected to strengthen Xiaomi Auto’s sales capabilities. Xiaomi Auto, from its announcement of entering car manufacturing, has only been in the game for five years, and its sales system is still evolving. Kong Yanshuang, with extensive experience in the automotive sector and proven capabilities in building sales systems and marketing, is poised to leverage Xiaomi’s strong brand influence to potentially replicate Tesla’s success in the Chinese market.
+37 others
