Xiaomi’s automotive arm managed to expand deliveries in October even as China’s electrified-vehicle market contracted sharply, and the SU7’s leadership in the premium sedan segment gave that growth a firmer footing than a single strong month would suggest.
According to the China Passenger Car Association (CPCA), Xiaomi Auto recorded 50,123 retail sales in October, with wholesale shipments reaching 50,168 vehicles in the same month. The figures marked a 3.0% increase year-on-year and a 25.3% rise from September. Xiaomi itself had announced more than 50,000 vehicle deliveries on November 1; the association’s data now puts a precise number on wholesale shipments and adds a separate retail sales figure.
A Counter-Cycle Performance
The gain stands out against a difficult backdrop. CPCA data show retail sales of alternative-drive vehicles in China fell 13.7% in October, while overall passenger car retail sales dropped 27.1%. Xiaomi Auto placed sixth in the monthly ranking of electrified vehicles.
Media reports indicate the SU7 was China’s best-selling sedan in the segment above 200,000 RMB in October, and it also led cumulative sales from January through October — a position that extends beyond one standout month. The SUV lineup adds further support: according to Lei Jun, all four Xiaomi models ranked above that price threshold in China’s October ranking of electrified cars, pointing to demand spread across several vehicles rather than a single nameplate.
Should investors sell immediately? Or is it worth buying Xiaomi?
Daiwa Raises Its Target
Daiwa lifted its price target for Xiaomi on November 3 to HK$35 from HK$30, reaffirming its “Buy” rating. Among the reasons cited by the bank was an expected improvement in smartphone margins, tying the upgrade to the outlook for the handset business as well as the car unit. Xiaomi shares were up 0.9% on the day.
Robots Clock In
Xiaomi also reported progress on humanoid robots at the World Internet Conference on November 3. A robot completed an eight-hour shift at a sorting station in the factory for the first time, according to the company, while a robotics system began a trial operation in the Xiaomi Youth Apartments — a test that takes the technology outside the manufacturing floor.
The Road to 550,000
For January through October, roughly 336,500 vehicles were delivered, against a full-year target of 550,000. Despite October’s strength, that goal remains demanding, and the coming months will show whether the current pace can be sustained. The third-quarter 2026 results, scheduled for November 24, are the next concrete checkpoint for investors, with the interplay between business development and guidance likely to matter most.
Ad
Xiaomi Stock: Buy or Sell?! New Xiaomi Analysis from November 10 delivers the answer:
The latest Xiaomi figures speak for themselves: Urgent action needed for Xiaomi investors. Is it worth buying or should you sell? Find out what to do now in the current free analysis from November 10.
Xiaomi: Buy or sell? Read more here...
