Claims of the alleged price drop and collapse of Xiaomi cars have flooded social media in China in recent days, with sensational headlines such as “the 500,000+ yuan SU7 Ultra is now barely worth 350,000 and no one will buy it” or “dealers reject Xiaomi used cars”. According to the official reactions of the company, such claims are largely incorrect and represent a grossly distorted reality.
The appearance of dramatic videos with “tear sales”, kneeling and other emotional scenes further fueled the impression that the Xiaomi car market experienced a sudden crash and breakdown. However, the analysis of specific cases shows that these are selective examples and deliberate exaggeration in order to gain reviews and potential customers.
mydriversAccording to second-hand electric vehicle dealers, claims that “no one is buying the Xiaomi SU7” mostly refer to inquiries from sellers who do not deal in electric cars or deal with Xiaomi models. When a vehicle is offered through channels that specialize in similar models and the price is realistically set, mass rejection of the purchase is not a common practice.
What is actually happening in the market of used Xiaomi SU7 models
Experts point out that the earlier phase of selling the SU7 model was marked by shortages and resale at significantly higher prices. The current drop in prices represents a return to normal market flows for used vehicles, not a “crash”. Traders who bought vehicles during the period of higher prices can now suffer losses due to market correction, which is a real and well-known phenomenon in the auto industry.
An additional problem is fake ads. A case has been recorded where a used SU7 Ultra was allegedly advertised for 338,000 yuan, although no such offer actually exists. Some irresponsible sellers use stolen photos and unrealistically low prices to attract buyers, then redirect them to more expensive vehicles on the spot with the excuse that “the car has just been sold”.
According to current data from major automotive platforms, the average price of a used SU7 Ultra model is around 400,000 yuan, which corresponds to a value retention of approximately 75 percent.
Xu Jieyun, assistant to the president of the Xiaomi Group and deputy director of the strategic marketing sector, responded to these allegations, saying that “the truth is extremely absurd” and calling on the public to look at the facts carefully.
Lei Jun has repeatedly spoken publicly about maintaining the value of the SU7 model and denied the rumors. Citing the December 2025 report from the China Automobile Association, he said the Xiaomi SU7 has a value retention rate of 80.1 percent, which puts it at the very top of the industry. He also pointed out that the upcoming refresh of the model will inevitably bring a slight drop, but that the vehicle will still remain among the best in its class.
Data from the Guazi Used Cars platform further supports this picture. In the electric vehicle segment, the Xiaomi SU7 took first place with a one-year value retention rate of 91.78 percent, which means that a vehicle loses about a tenth of its initial price on average during the first year.
The expert’s conclusion is that the used Xiaomi car market has stabilized and returned to a rational framework. However, buyers are advised to be extra careful when buying electric second-hand vehicles, checking the actual mileage, battery condition, service history and choosing verified sales channels, reports mydrivers.