On the opening day of the Shanghai auto show, Citi analysts noted a subdued presence from Xiaomi compared to the previous year. This was largely due to the absence of the YU7 model, which was not displayed at the event. Additionally, media coverage of a car accident involving a Xiaomi vehicle in China on April 1 was highlighted as a potential reason for the company’s quieter stance.
Despite these challenges, Xiaomi remains committed to its launch schedule. The company plans to unveil the YU7 model in June or July, aligning with the anticipated release of the car accident investigation report. Currently, Xiaomi is dealing with an impressive backlog of over 200,000 orders for the SU7 model.
Delivery times for Xiaomi’s vehicles differ based on the model. The standard SU7 faces a wait of 6-7 months, the PRO model has a lead time of 5-6 months, and the Max model requires a 4-5 month wait. Interestingly, the Ultra model boasts a shorter lead time than the Max, underscoring its popularity.
Looking ahead, Citi analysts speculate that the next significant event for Xiaomi could be its Q1 2025 earnings release, coupled with the launch of new products in the smartphone and smart glasses sectors. These developments could serve as catalysts, potentially boosting the company’s share performance in the future.
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