XIAOMI(HK:01810) Xin Lang Cai Jing·2026-01-13 11:32Core Insights - Xiaomi's entry into the automotive industry was initially met with skepticism, but the company has successfully delivered over 500,000 vehicles by the end of November 2025, with an annual delivery target of 410,000 for that year [1][2][3] Group 1: Sales Performance - As of November 2025, Xiaomi has delivered more than 500,000 vehicles, indicating strong market acceptance and performance [1][2] - The demand for Xiaomi vehicles is so high that customers are facing wait times of over six months to receive their cars [3] Group 2: Used Car Market - Recently, there has been a significant decline in the prices of Xiaomi's used cars, particularly in Shanghai, where the SU7 has dropped by approximately 50,000 yuan, and the SU7 Ultra has seen a price drop of up to 140,000 yuan [3][4] - The price drop in used cars is attributed to the release of the new generation SU7, which features upgrades in range and technology, with only a slight price increase of 10,000 yuan [4] Group 3: Market Dynamics - The rapid evolution of the electric vehicle market has led to increased competition, making it challenging for Xiaomi to maintain the resale value of its vehicles [4] - Xiaomi's high visibility and media scrutiny have resulted in a backlash, impacting the brand's perception and the resale market for its cars [4]