Li Auto faced a setback with deliveries dipping to 25,787 vehicles in April, marking an 11.03 percent drop from the previous month despite a marginal year-on-year increase of 0.41 percent. The company’s cumulative deliveries as of April stood at 739,551 vehicles, showcasing a mix of challenges and growth opportunities.
The beginning of 2024 was challenging for Li Auto, with deliveries declining in January and February, reaching a low of 20,251 units in February, partly due to the Chinese New Year holiday. However, March showed promise with a rebound to 28,984 units as the holiday effects waned.
Li Auto’s latest move involved a strategic pricing adjustment. On April 22, the company slashed prices for all models except the recently launched Li L6, with reductions in the L-series ranging around RMB 20,000 ($2,760) and the Li Mega seeing the most significant cut at RMB 30,000.
The Li L6, introduced on April 18, comes in Pro and Max trims starting at RMB 249,800 and RMB 279,800, respectively, making it the most affordable model in Li Auto’s lineup. This move underscores the company’s commitment to adapt to market conditions and consumer preferences.
Despite these adjustments, challenges remain for Li Auto, particularly with the initial reception of the Li Mega MPV and the performance of the L-series. The company is closely monitoring these developments to stay competitive in the dynamic Chinese electric vehicle market.
