Scalpers Target Xiaomi YU7 EV Reservations Amid High Demand in China
Scalpers are rapidly exploiting the intense demand for Xiaomi’s newly launched YU7 electric crossover in China by listing early reservation slots at significantly inflated prices on secondary markets. Immediately following the sales launch on June 26, the Chinese resale platform Xianyu featured listings for YU7 orders with premiums reaching up to RMB 20,000. To secure a vehicle, customers are required to place a refundable deposit of RMB 5,000. The surge in scalping activity coincides with Xiaomi’s announcement of record-breaking initial interest, having received over 289,000 reservations within the first hour of availability. Furthermore, more than 240,000 of these reservations were converted into confirmed sales within just 18 hours. Due to this overwhelming response, delivery wait times have extended considerably, with current estimates indicating a 57-week wait for the entry-level YU7 model and a 37-week wait for the top-tier YU7 Max. This situation highlights the strong market reception for the smartphone manufacturer’s second electric vehicle model, while also presenting challenges related to inventory management and fair access for genuine consumers amidst speculative trading practices on digital platforms.
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Scalpers Target Xiaomi YU7 EV Reservations Amid High Demand in China
Scalpers are rapidly exploiting the intense demand for Xiaomi’s newly launched YU7 electric crossover in China by listing early reservation slots at significantly inflated prices on secondary markets. Immediately following the sales launch on June 26, the Chinese resale platform Xianyu featured listings for YU7 orders with premiums reaching up to RMB 20,000. To secure a vehicle, customers are required to place a refundable deposit of RMB 5,000. The surge in scalping activity coincides with Xiaomi’s announcement of record-breaking initial interest, having received over 289,000 reservations within the first hour of availability. Furthermore, more than 240,000 of these reservations were converted into confirmed sales within just 18 hours. Due to this overwhelming response, delivery wait times have extended considerably, with current estimates indicating a 57-week wait for the entry-level YU7 model and a 37-week wait for the top-tier YU7 Max. This situation highlights the strong market reception for the smartphone manufacturer’s second electric vehicle model, while also presenting challenges related to inventory management and fair access for genuine consumers amidst speculative trading practices on digital platforms.
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