Li Auto Inc. May 2024 Delivery Update
Li Auto Inc. (Nasdaq: LI; HKEX: 2015) reported a 23.8% year-over-year increase in vehicle deliveries for May 2024, totaling 35,020 units. The company has now achieved cumulative deliveries of 774,571 vehicles. Since its launch on April 24, 2024, 15,000 units of the Li L6 have been delivered, marking a record pace. Sales of the Li L7, Li L8, and Li L9 models are also gaining momentum due to new pricing strategies. Li Auto's market share in the RMB200,000+ NEV segment grew to 13.5% from January to April, consolidating its leading position among Chinese auto brands. The company operates 487 retail stores, 374 service centers, 214 authorized body shops, and 426 supercharging stations across China.
- Vehicle deliveries rose 23.8% YoY in May 2024, reaching 35,020 units.
- Cumulative deliveries hit 774,571 vehicles as of May 2024.
- 15,000 Li L6 vehicles delivered since April 24, 2024, indicating strong uptake.
- Sales of Li L7, Li L8, and Li L9 models are increasing due to new pricing strategies.
- Market share in the RMB200,000+ NEV segment grew to 13.5% from January to April.
- Li Auto operates 487 retail stores in 144 cities, expanding its reach.
- No specific financial data provided for Q2 2024, leaving financial health unclear.
- No mention of profitability or net income figures in the report.
- Potential supply chain challenges hinted at without detailed explanation.
Insights
The May 2024 delivery update from Li Auto appears promising. Posting a 23.8% year-over-year increase in deliveries to 35,020 vehicles signifies solid growth. The cumulative delivery figure of 774,571 vehicles speaks to the company’s expanding footprint in the new energy vehicle (NEV) sector. Notably, the introduction of the Li L6 has been a success, with over 15,000 units delivered since April 24. This points to effective execution in both production and supply chain management. Another key highlight is the 13.5% market share in the NEV segment priced above
Examining Li Auto’s recent achievements, the company’s strategy of aggressive expansion and market penetration is evident. The establishment of 487 retail stores across 144 cities and 374 servicing centers in 214 cities indicates a comprehensive approach to ensuring customer support and brand presence. Additionally, the installation of 426 supercharging stations with 1,888 stalls is indicative of the company’s commitment to enhancing the user experience and addressing range anxiety, which remains a critical factor for EV adoption. These strategic moves not only boost consumer confidence but also strengthen Li Auto’s competitive edge. Retail investors should consider these infrastructure investments as a positive signal of the company's long-term commitment to growth and customer satisfaction.
BEIJING, June 01, 2024 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today announced that the Company delivered 35,020 vehicles in May 2024, up
“We have delivered over 15,000 Li L6s since deliveries began on April 24, setting a record pace for our newly launched models. We are fully committed to securing the supply chain and ramping up production of Li L6 to ensure users receive their vehicles at the earliest possible opportunity. Sales of the 2024 Li L7, Li L8, and Li L9 continue to gain momentum, driven by the new pricing strategy we implemented,” commented Xiang Li, chairman and chief executive officer of Li Auto. “Our market share in the RMB200,000 and higher NEV market continues to experience healthy year-over-year growth, expanding to
As of May 31, 2024, the Company had 487 retail stores in 144 cities, 374 servicing centers and Li Auto-authorized body and paint shops operating in 214 cities, and 426 super charging stations in operation equipped with 1,888 charging stalls in China.
About Li Auto Inc.
Li Auto Inc. is a leader in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Its mission is: Create a Mobile Home, Create Happiness (创造移动的家,创造幸福的家). Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and comfortable products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. The Company started volume production in November 2019. Its current model lineup includes Li MEGA, a high-tech flagship family MPV, Li L9, a six-seat flagship family SUV, Li L8, a six-seat premium family SUV, Li L7, a five-seat flagship family SUV, and Li L6, a five-seat premium family SUV. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions while expanding its product line by developing new BEVs and EREVs to target a broader user base.
For more information, please visit: https://ir.lixiang.com.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “targets,” “likely to,” “challenges,” and similar statements. Li Auto may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “HKEX”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about Li Auto’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Li Auto’s strategies, future business development, and financial condition and results of operations; Li Auto’s limited operating history; risks associated with extended-range electric vehicles and high-power charging battery electric vehicles; Li Auto’s ability to develop, manufacture, and deliver vehicles of high quality and appeal to customers; Li Auto’s ability to generate positive cash flow and profits; product defects or any other failure of vehicles to perform as expected; Li Auto’s ability to compete successfully; Li Auto’s ability to build its brand and withstand negative publicity; cancellation of orders for Li Auto’s vehicles; Li Auto’s ability to develop new vehicles; and changes in consumer demand and government incentives, subsidies, or other favorable government policies. Further information regarding these and other risks is included in Li Auto’s filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and Li Auto does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Li Auto Inc.
Investor Relations
Email: ir@lixiang.com
FAQ
What were Li Auto's vehicle deliveries in May 2024?
How many Li L6 vehicles were delivered since its launch?
What is Li Auto's market share in the RMB200,000+ NEV segment?
How many retail stores does Li Auto operate as of May 2024?
What is the cumulative number of vehicle deliveries for Li Auto as of May 2024?
