At the 2024 Beijing International Auto Show, Lei Jun announced that the Xiaomi SU7 had locked in 75.723 orders 28 days after its official release, with 5.781 units already delivered. This set a new record for the first-month delivery volume of a new brand's first model in the industry. It’s important to note that locking an order means the vehicle will enter the production stage, and at this point, the deposit is non-refundable, making it highly likely to convert into actual sales orders.
Currently, the only factor seemingly affecting the rapid growth of Xiaomi's car deliveries is production capacity. However, Xiaomi is addressing this issue, with Lei Jun stating that the official daily production capacity has increased to over 400 vehicles, with an annual production capacity target of 100.000 vehicles.
Who Are the "Consumer Groups" Buying the Xiaomi SU7?
According to official data, 28% of the locked-in users are women, with an estimated female owner proportion of about 40-50%. Additionally, 29% of the users are BBA (Mercedes-Benz, BMW, Audi) owners, and 51.9% are Apple users. Although these user profiles are relatively "vague," it is clear that the majority of Xiaomi car buyers are young people.
Xiaomi's brand has always been known for its high cost-performance ratio, which is undoubtedly a huge attraction for the price-sensitive young consumer group. Furthermore, the Xiaomi SU7 is not just a car; it represents an experience of a technological ecosystem.
Despite mixed reviews online regarding the price of the Xiaomi SU7. it must be said that the SU7 has some "innovative" aspects in terms of product strength. So far, the Xiaomi SU7 has demonstrated competitive strengths in design, intelligent ecosystem, power performance, and chassis quality. Apart from the rear space not matching its dimensions, there are hardly any noticeable "shortcomings."
Reportedly, the Xiaomi SU7 will receive its first OTA update in early May, introducing wireless CarPlay and end-to-end valet parking features. By the end of May, the second OTA update is planned, which will officially release the City NOA feature.
Challenges and Prospects of Xiaomi’s First Car Model
As Xiaomi’s first car model, the SU7 did not debut in an "ideal time." Compared to the current market conditions, the SU7. which was planned a few years ago, faces relatively greater pressure. On one hand, it encountered the early-year price drop wave in the new energy vehicle market, making the price advantage of the Xiaomi SU7 less prominent under the competitors' price "anchor." On the other hand, the rapid development of three-electric and intelligent technologies makes it difficult for the Xiaomi SU7 to significantly differentiate itself from its competitors in terms of performance.
It must be said that with the increasingly fierce competition in the new energy vehicle field, launching its first car in 2024 undoubtedly does not give Xiaomi much timing advantage. However, relying on its brand user base, ecosystem advantages, and Lei Jun’s personal charm, Xiaomi cars are indeed quite popular.
Conclusion: Sustaining Success Amid Fierce Competition
The success of the SU7 is no accident. Its market positioning, brand effect, and deep understanding of young consumers have successfully carved out a niche in the automotive market. Will the Xiaomi SU7 continue to be active in the market after the initial hype? How will Xiaomi further penetrate the automotive market? This remains to be seen and is worth anticipating!
