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XIAOMI-W SU7 New Orders Plunge 55% MoM in Apr
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XIAOMI-W (01810.HK) has experienced a tremendous impact on its automobile division from a fatal accident last month, arousing public concerns over the safety of its intelligent driving features, Reuters reported. Separately, the new energy vehicle (NEV) sector is embroiled in a false advertising scandal, with reports indicating that some buyers of the high-end model SU7 Ultra are collectively demanding refunds of their deposits. This has led to an around 55% MoM slump in new orders for Xiaomi SU7 in April. The decrease in orders has persisted into May, with the first two weeks seeing order volumes plunging to 13,500 units, a sharp drop from the 23,000 units in the second week of March. AASTOCKS Financial News Website: www.aastocks.com |
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