Xiaomi YU7 squeezes Tesla Model Y out of China: deliveries in two months, a year-long waiting list, but insurers are already reporting

Tesla Model Y has long held the lead among electric vehicles. It is not only the most popular electric car, but also a car that for a while became the best-selling car model globally. But now his position was under serious pressure. In China, Model Y sales were significantly affected by the launch of Xiaomi YU7.

Xiaomi immediately made it clear that YU7 was created as a competitor to the Tesla Model Y. During the presentation at the beginning of the year, the Chinese manufacturer compared almost every characteristic and price with the global bestseller Tesla. And this was natural, because in most respects, the YU7 looks very favorable against the background of updated version of the Model Y.

Xiaomi announced an ambitious goal — to surpass Model Y in sales. The launch turned out to be extremely successful: within minutes of the presentation, the company collected more than 200 thousand pre-orders.

Despite the fact that YU7 deliveries started only two months ago, the impact of the new model is already noticeable. Data from insurance registrations show that in the last three months, YU7 has been actively replacing Model Y in the Chinese market. This is reported by ThinkerCar.

The volume of pre-orders for the YU7 literally shook up the entire segment of compact electric SUVs in China. Later, the excitement subsided a bit when it became clear that new customers would not be able to get the car until next year. At the same time, Xiaomi still needs to increase production to meet this interest. But now that deliveries have reached more than 3,000 cars per week, Tesla’s pace is slowing and remains far from its previous peak.

Analysts are already comparing the situation with how the first Xiaomi model — sedan SU7 — had an impact on the Tesla Model 3. Throughout the year, the SU7 has been consistently outselling the Model 3 in terms of sales. At the beginning of this month, Tesla had hopes of regaining its position, but the situation quickly returned to the usual scenario.

According to registration statistics, Tesla’s sales in China have fallen by 6% since the beginning of the year.

Source: electrek