Deliveries of Li Auto's vehicles drop by 41%, relying on the upcoming September release of the i6 SUV for a turnaround
Li Auto, a Chinese electric vehicle manufacturer, is gearing up for the launch of its new Li i6 electric SUV next month. This announcement comes after the company relaunched the Li i8 with reduced variants and lower prices following a disappointing initial reception in August.
The company currently operates 543 retail stores across 156 cities in China, with 536 service centers and authorized body and paint shops in 222 cities. Li Auto also boasts an extensive network of 3,190 supercharging stations, equipped with 17,597 charging points.
In Q2, Li Auto posted flat net income, and the company has provided weak guidance for Q3. Despite this, Li Auto aims for stable monthly deliveries of 9,000-10,000 units for the Li i6 and 6,000 units for the Li i8 by the end of the year. Including the Li Mega, Li Auto's overall battery electric vehicle (BEV) models will stabilize at 18,000-20,000 units monthly.
The Li i6, priced between approximately RMB 250,000 ($35,040) and RMB 300,000, is expected to be a significant contributor to Li Auto's sales. Earlier today, Li Auto announced that monthly deliveries of the Li Mega surpassed 3,000 units, marking the third consecutive month of year-on-year delivery declines for the company.
From January to August, Li Auto delivered 263,198 vehicles, a year-to-date decrease of 8.64%. Cumulatively, Li Auto has delivered 1,397,070 units since its founding. August deliveries were 28,529 vehicles, a 40.72% year-on-year decrease.
The exchange rate is: $1 = RMB 7.1344.
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