[China Merchants Securities: Xiaomi Auto sales are expected to reach 350,000-400,000 this year, and YU
7 may become the next hit] China Merchants Securities International issued a report stating that Lei Jun, founder of Xiaomi Group (01810.HK), recently announced that the group's first SUV model YU 7 will be released at the end of this month and is expected to be launched in July. The bank believes that YU
7 has great potential for hits and will continue the growth trend of SU 7. Xiaomi Auto is expected to double its growth next year. The report stated that Xiaomi SU 7 was not affected by the price war and demand remained strong. YU 7 may have a greater hit effect than SU
7 because its number of retained users is three times that of the same period when SU 7 technology was released. The bank predicts that the starting price of YU 7 is about 250,000 yuan, and the largest direct competitors are Tesla Model
Y, NIO EC6 and Xiaopeng Motors G7. The bank predicts that Xiaomi YU 7's steady-state monthly sales will reach 30,000-40,000 units, and Xiaomi Auto's sales this year will reach 350,000-400,000 units. Among them, SU 7+YU
7 is expected to hit 50,000-60,000 units, and next year is expected to challenge 700,000-800,000 units. Xiaomi Group is considering continuing to launch new models next year, and if the production capacity is released enough, it is expected to exceed 1 million units.
