XIAOMI(HK:01810) Sou Hu Cai Jing·2026-01-14 23:10Core Viewpoint - The recent news highlights a significant drop in the resale prices of Xiaomi's electric vehicles, particularly the SU7 model, leading to public controversy and scrutiny of the company's automotive segment [1][3][8]. Group 1: Resale Price Decline - Reports indicate that the resale prices of Xiaomi's electric vehicles have plummeted, with the SU7 model experiencing a drop of over 100,000 yuan from its initial price of approximately 530,000 yuan to around 410,000 yuan [3][11]. - The SU7 Ultra has seen the most dramatic depreciation, with some vehicles losing more than 150,000 yuan in value within a year [3][11]. - The media's portrayal of the situation suggests a collapse of the "value retention myth" associated with Xiaomi's vehicles, raising concerns about their market performance [3][6]. Group 2: Company Response - In response to the negative publicity, Xiaomi executives, including Lei Jun and Xu Jieyun, publicly refuted claims of a drastic price drop, stating that the actual turnover efficiency and value retention rates of Xiaomi's second-hand cars are above average [8][11]. - A report from the China Automobile Circulation Association indicates that the SU7's value retention rate was 88.91% in the first half of 2025, ranking it first among all models, and 80.1% by December of the same year, indicating that the vehicle's value retention remains strong despite some decline [11]. Group 3: Factors Behind the Controversy - The controversy surrounding Xiaomi's vehicles is attributed to various factors, including the natural pressure of model updates, the fading of initial hype, and the stabilization of supply after ramping up production [6][12]. - The company has become a target for negative publicity due to its high visibility and the competitive nature of the automotive market, where rival companies may resort to discrediting tactics [12][15]. - Internal controversies, such as marketing strategies that have drawn criticism, also contribute to the negative narrative surrounding the company [12][15].