Let's kick things off with a number—this represents Xiaomi's delivery volume over the past year.

As illustrated in the chart, prior to 2026, Xiaomi was riding high on the wave of the YU7's phenomenal sales, hitting a peak of over 50,000 units in December 2025 and continuously breaking records.

However, the year 2026 brought a dramatic shift. Deliveries plummeted to 39,000 units in January, then further down to around 20,000 units, before bouncing back to over 30,000 units with the introduction of the SU7, along with the standard and GT versions of the YU7.

From April 2026 to August 2026, according to Xiaomi's official data, its monthly deliveries hovered around the 30,000-unit mark, roughly the combined baseline for the SU7 and YU7 models.

Frankly, without additional models to spur sales, Xiaomi might have been stuck at the 30,000-unit level for an extended period. After all, the current automotive market is sluggish, with all players experiencing a downturn. For Xiaomi to maintain 30,000 units is already a noteworthy achievement.

But in September, Xiaomi rolled out two new models: the Pengcheng N70 and the Pengcheng N90, which are Xiaomi's extended-range electric vehicles—one a spacious five-seater and the other a roomy seven-seater.

Meanwhile, Xiaomi's Pengcheng models boast unique features, such as adaptable space, a flat floor, and sliding seats, providing consumers with diverse ways to enjoy their vehicles.

Consequently, it was anticipated that once these models hit the market, they would propel Xiaomi Auto's sales to new heights.

And indeed, just after September, Xiaomi officially announced that its deliveries in September surpassed 40,000 units.

Lei Jun then reposted this announcement, adding a note that the first-month deliveries of the Xiaomi Pengcheng exceeded 10,000 units.

This marked the first time since 2026 that Xiaomi had broken through the 40,000-unit barrier.

In fact, deliveries of the Xiaomi Pengcheng commenced on September 12, so by the end of September, it had been less than 20 days. Yet, over 10,000 units were delivered in that brief span, which is quite remarkable.

Furthermore, most of the vehicles delivered in those 20-odd days were pre-manufactured units. The true large-scale deliveries are yet to commence, as they will only begin once customer orders reach the factory for production and shipment.

Therefore, we have grounds to believe that in October, Pengcheng sales could exceed 20,000 units. Combined with the 30,000 units from the SU7 and YU7, Xiaomi Auto's deliveries could potentially surpass 50,000 units.

Of course, even if Xiaomi delivers 50,000 units in October, it is still improbable to achieve the annual target of 550,000 units. Based on September's 40,000 units, Xiaomi Auto's total deliveries by the end of September would only amount to around 286,500 units.

That leaves a gap of 260,000 units to reach the 550,000-unit mark. To accomplish that in the remaining three months would necessitate delivering 90,000 units per month, which is virtually unattainable.