XIAOMI(HK:01810) Sou Hu Cai Jing·2025-05-25 21:07Core Insights - The sales data for Xiaomi SU7 in April 2025 reveals a significant shift in consumer purchasing power across Chinese cities, with new first-tier cities showing remarkable growth while traditional first-tier cities like Beijing experience a decline [1][3]. Group 1: Sales Performance - New first-tier cities dominate the sales rankings, occupying 12 out of the top 20 spots and contributing 61% of total sales, with Hangzhou leading at 1,866 units sold [2][3]. - Traditional first-tier cities like Shanghai, Shenzhen, and Guangzhou remain competitive, but Beijing's sales drop to 681 units, placing it 12th, alongside second-tier cities [3][4]. Group 2: Market Dynamics - The rise of new first-tier cities is attributed to economic growth driven by industry and population advantages, such as the internet economy in Hangzhou and manufacturing in Wuhan, attracting high-income consumers [3]. - Policy support and infrastructure improvements in new first-tier cities, like relaxed electric vehicle license policies in Hangzhou, have further stimulated sales [3][4]. Group 3: Competitive Landscape - The disparity in performance among first-tier cities is linked to strict policies in Beijing, competition from established brands in Shanghai and Shenzhen, and Xiaomi's faster expansion in new first-tier cities [4][6]. - Second-tier cities like Nanchang, Wenzhou, and Jinan are emerging as strong competitors, driven by rising disposable incomes and Xiaomi SU7's cost advantages [6][8]. Group 4: Strategic Recommendations - To maintain its market position, Xiaomi should focus on overcoming policy barriers in restricted cities like Beijing by exploring partnerships with rental and ride-sharing companies [8]. - Enhancing service networks in second-tier cities, including expanding charging infrastructure and after-sales support, is crucial to address consumer concerns [8][9]. Group 5: Conclusion - The sales data for Xiaomi SU7 reflects broader economic trends in China, indicating a shift from a centralized consumption model to a more diversified market landscape, emphasizing the importance of understanding urban dynamics for future success in the electric vehicle sector [9].