Xiaomi SU7 officially launched. It sold out in just 10 minutes post-launch, underscoring the market’s high expectations for Xiaomi Motors. During this buying frenzy, Xiaomi’s issued F codes emerged as the “hard currency” for many consumers seeking to purchase cars.
Xiaomi SU7 Sells Out in 10 Minutes
Before the press conference, Xiaomi distributed F codes to select “Lei Jun” company employees and corporate partners, granting them priority access to purchase the Xiaomi SU7 founder edition model. These F-code recipients not only gained priority in ordering when stocks ran out but also had the privilege of selecting an exclusive founding edition number. However, the F code is only valid for 24 hours.
The F code, initially introduced for Xiaomi products, traces its roots back to the rush for Xiaomi mobile phones. Users possessing F codes back then could directly purchase popular products without the hassle of appointments or queues, making them immensely popular. Despite Wang Hua, general manager of Xiaomi Group’s public relations department, refuting rumors about the existence of F codes or similar preferential purchase channels, these codes once again proved pivotal during the Xiaomi cars’ launch.
F Codes Fetch High Prices
Xiaomi SU7’s debut captured consumers’ attention and sparked widespread industry discussions. With various configurations and price points across its standard, Pro, and Max versions, it catered to diverse consumer needs. Notably, the announcement of the limited edition 5,000 SU7 founding editions at the press conference garnered an enthusiastic market response, boasting unique features like a metal wordmark, an exclusive numbered nameplate, and a gift box.
Remarkably, given that car buyers and F code recipients need not align, Xiaomi cars’ F codes are highly sought after in the second-hand market. Many individuals are reselling F codes on second-hand platforms, fetching prices ranging from a few hundred yuan to tens of thousands. This reflects the market’s strong interest in and expectations for Xiaomi SU7.
At the Xiaomi car launch, Lei Jun announced that the Xiaomi SU7 was officially released, and the standard version is priced at 215,900 yuan (about $29898), the Xiaomi SU7 Pro version is priced at 245,900 yuan (about $34052), and the Xiaomi SU7 Max version is priced at 299,900 yuan (about $41530). According to official data from Xiaomi Auto, after the Xiaomi Auto Launch, Xiaomi SU7 sold over 10,000 units in 4 minutes, 20,000 units in 7 minutes, and 50,000 units in 27 minutes after its launch.
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