A Xiaomi SU7 Ultra owner is reportedly selling their vehicle after just over three months of ownership, incurring a significant depreciation. Digital blogger “Cepingjun” announced plans to sell their SU7 Ultra for 410,000 yuan (56,400 USD), after having purchased it for around 560,000 yuan (77,000 USD). This potential sale represents a depreciation of about 150,000 yuan (20,650 USD).

The blogger took delivery of the Xiaomi SU7 Ultra on March 7th, meaning the car is being sold after only a little over three months. They noted that the second-hand market price for this model has been fluctuating significantly, and the stated transaction price is for reference only.

Previously, the initial Xiaomi SU7 model experienced high demand due to production shortages, leading to a “price inversion” in the used car market where its one-year retention rate exceeded 90%, significantly higher than the typical 70% for electric vehicles.

However, the Xiaomi SU7 Ultra does not appear to share this trend. One reason is that the SU7 Ultra’s delivery times are not as extended; the Xiaomi Auto app indicates a fastest delivery time of 19 weeks, much quicker than the 34 to 48 weeks for the standard SU7. Additionally, the SU7 Ultra targets the high-end performance market, a segment where users are less price-sensitive but the market capacity is limited, resulting in less premium potential in the second-hand market.

The Xiaomi SU7 Ultra was launched on February 27th of this year, with the standard version priced at 529,900 yuan (72,900 USD) and the Nürburgring limited edition at 814,900 yuan (112,200 USD). The car quickly garnered attention, with over 6,900 pre-orders in just 10 minutes and an impressive 10,000 orders within two hours, easily meeting its annual sales target.

Editor’s comment

The SU7 Ultra was launched at the end of February, meaning the unit sold by the blogger was among the first batch produced. While we lack further information on its condition or maintenance history, it appears unlikely to rival the “resale value myth” created by the Xiaomi SU7. Previously, even Xiaomi SU7s driven for a year and accumulating significant mileage still maintained excellent resale value.