Used Xiaomi YU7 electric SUV prices soar over $8,000 above new car price amid supply crunch

Xiaomi’s YU7, its second electric vehicle after the SU7 sedan, began deliveries on July 6. According to CarsNewsChina, citing data from Dongchedi, over 80 YU7 units are currently listed for resale across the country.

Resale prices range from 350,000 to 390,000 yuan, significantly higher than the official retail prices: 253,500 yuan for the Standard model, 279,900 yuan for the Pro, and 329,900 yuan for the Max.

Most listings are for the top-tier Max version, with mileage typically under 100 kilometers.

Analysts suggested that these vehicles are primarily from two sources: dealers who bought them for resale and used car platforms that resell at inflated prices, causing a "secondary markup" effect.

Xiaomi YU7 electric SUV. Photo from X

The Chinese tech giant received over 200,000 orders for the YU7 within three minutes of its June launch in Beijing, according to Business Insider.

Priced from $35,000, the YU7 is positioned to compete with Tesla's Model Y, China's top-selling electric SUV, which starts at $36,760.

Xiaomi CEO Lei Jun acknowledged that many of these early orders were likely placed by scalpers, leading the company to impose a per-person purchase limit, as reported by Supercarblondie.

Delivery times for new YU7 orders remain long.

Xiaomi’s latest app update indicates that the Standard version has an expected delivery time of 57–60 weeks, the Pro version 49–52 weeks, and the Max version 41–44 weeks.

Xiaomi’s first EV, the SU7, also saw similar price surges in the second-hand market post-launch. However, resale prices eventually normalized as supply caught up with demand.