According to the American automobile website Electrek, Tesla Model Y has dominated the electric vehicle market for a long time. Not only is it the best-selling electric car in the world, it even became the best-selling car in the world at one point. However, this Tesla model is facing serious challenges. In China, it has already started to feel the impact of Xiaomi YU7.
Model Y and YU7
When Xiaomi released the YU7 earlier this year, it unabashedly compared it to the Model Y, comparing almost every specification and price of the YU7 to the Model Y. This is not surprising, as the YU7 has obvious advantages over Tesla’s upgraded Model Y. Xiaomi aims to overtake the Model Y in sales, and it's off to a strong start, with over 200,000 pre-orders within minutes.
Right now, the entire Chinese electric vehicle market is feeling the impact of Xiaomi YU7. Due to the large number of orders, Xiaomi CEO Lei Jun even recommended consumers to buy competitors' cars.
Although the delivery of Xiaomi YU7 has only started two months ago, this model seems to have already put pressure on Tesla Model Y.
YU7 sales rise, Model Y declines
The latest insurance data disclosed by automobile consulting company ThinkerCar shows that in the past two weeks, as Xiaomi YU7 deliveries in China have increased to more than 3,000 units per week, Tesla Model Y deliveries have declined and are well below the previous peak level.
If this trend continues, Xiaomi YU7 sales are expected to surpass Model Y by the end of the year. However, Tesla may start cutting prices before then, and may even launch a cheaper simplified version of the Model Y.
SU7 sales steadily exceed Model 3
In addition to SUVs, the Xiaomi SU7 sedan seems to have had a similar impact on the Tesla Model 3. In the past year, Xiaomi SU7 sales have been better than Model 3. At the beginning of this month, Model 3 sales once surpassed SU7 in one week, but it was overtaken by SU7 in the last week.
Tesla sales in China are down 6% year-to-date so far this year, according to registration data.