Xiaomi YU7 GT Launch Triggers Surge in Order Transfers with Cash-Back Incentives

[Market Update] Following the launch of the Xiaomi YU7 GT, a wave of order transfers has emerged on secondhand platforms, with some sellers offering cash-back incentives.

Key Trend: Cash-Back of $700 Becomes New Tactic

The Xiaomi YU7 GT officially launched on May 21, with a manufacturer-suggested retail price of RMB 389,900. Shortly after order reservations opened, platforms like Xianyu were flooded with numerous order transfer listings, priced between RMB 1,000 and RMB 20,000. Some sellers are advertising a RMB 5,000 cash-back offer. In practice, buyers use a seller-provided “voided order” account to lock in the vehicle, and upon delivery, receive the cash rebate—effectively reducing the required payment for the RMB 20,000 deposit to just RMB 15,000.

Underlying Strategy: Exploiting the “Voided Order Activation” Policy

Sellers claim Xiaomi operates a “pay-one, refund-one” mechanism—once a new order locks the vehicle, the deposit from the previous (voided) order is refunded via the original payment channel. Chat screenshots from sales personnel indicate this practice already existed during the SU7 launch and is now being replicated for the YU7 GT. Although not explicitly prohibited by Xiaomi, this tactic has raised concerns about order compliance and fairness in vehicle allocation.