- Xiaomi EV’s November deliveries saw their first month-on-month decline since July, driven by a significant drop in SU7 series sedan deliveries.
- From January to November, Xiaomi EV delivered 361,625 vehicles.
Xiaomi EV’s deliveries last month showed a month-on-month decline, with the SU7 electric sedan experiencing a significant drop, while the YU7 SUV (sport utility vehicle) hit a new high.
Xiaomi’s (HKG: 1810, OTCMKTS: XIACY) electric vehicle (EV) unit delivered 46,249 vehicles in November, according to data released today by the China Passenger Car Association (CPCA).
This represents a 99.73 percent year-on-year increase but a 4.94 percent month-on-month decline — the first such drop since July.
Xiaomi EV said on December 1 that its November deliveries again exceeded 40,000 units, though specific figures were not disclosed.
From January to November, Xiaomi EV delivered 361,625 vehicles, bringing its cumulative deliveries to 501,096 units.
The YU7 SUV delivered 33,729 units in November, surpassing October’s 33,662 units to set a new monthly record.
Cumulative deliveries of the SUV reached 114,584 units by the end of November.
The YU7, Xiaomi’s second model launched on June 26, is its first electric SUV and a direct competitor to Tesla‘s (NASDAQ: TSLA) Model Y. Xiaomi EV began delivering the YU7 on July 6.
SU7 series sedans — including the standard SU7 and SU7 Ultra — delivered 12,520 units in November, down 45.93 percent year-on-year and down 16.49 percent month-on-month.
This marks the second consecutive month of year-on-year decline for the electric sedan lineup’s monthly deliveries, as well as the fourth consecutive month of month-on-month decline.
From January to November, the SU7 series delivered 247,041 units.
Earlier this month, Xiaomi EV announced it had produced a batch of vehicles in advance for expedited delivery to capitalize on more favorable purchase tax incentives before year-end.
This could be seen as Xiaomi EV achieving its first quarterly profit, as the EV business contributed 97.6 percent of Xiaomi’s innovative business revenue.
