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Xiaomi's push for 120,000 deliveries sparks debate as average car price nears 400,000 yuan: Lei Jun targets middle class, while Huawei buyers are white-collar

Xue Hua Tue, May 28 2024 08:07 PM EST

On May 27th, Xiaomi revealed its first-quarter financial report for 2024. During the performance meeting, Xiaomi announced its ambitious goal of delivering 120,000 new cars by the end of 2024.

Previously, Xiaomi disclosed that deliveries of the SU7 model would exceed 100,000 units, with Lu Weibing confirming that new cars are currently in development.

Lu Weibing stated that Xiaomi's car deliveries have exceeded expectations. "The Pro version, originally scheduled for delivery by the end of May, began deliveries ahead of schedule on May 18th. As of May 15th, a total of 10,000 units have been delivered, setting a new industry record for delivery speed."

Xiaomi's remarkable performance after going public has indeed caught the attention of many, with some bloggers offering different perspectives on the hot sales of the Xiaomi SU7.

One blogger remarked: "Xiaomi is targeting the middle class, while BYD is expanding its reach to the lower-middle-income group (not exclusively, as there are also many middle-class and wealthy individuals like those admiring the Equations Cheetah). The Huawei M9 is squarely aimed at the high-income group."

Regardless of whether everyone agrees, the data shows that Weijie's performance is indeed improving.

Data indicates that in April, Weijie's average price was 398,000 yuan, with sales of 24,780 units, a year-on-year increase of 461.1%; from January to April, cumulative sales reached 110,679 units, a year-on-year increase of 668.4%; in April, the average price of its models reached 398,000 yuan, surpassing Audi and BMW, and closely following Mercedes-Benz. s_b731f2117ec2424b9cb0a9b2f0e27475.jpg