Li Auto, the Chinese electric vehicle (EV) manufacturer, has reportedly increased its sales target for the year after experiencing robust delivery growth in recent months. According to sources familiar with the matter cited in a report by local media outlet 36kr, Li Auto has raised its full-year sales target from the original 300,000 units to an ambitious 400,000 units.
The company’s founder, chairman, and CEO, Li Xiang, has also established specific sales targets for various models. The Li L7, Li Auto’s first five-seat SUV, has been set a goal of achieving 20,000 deliveries in a single month by October. Additionally, Li aims to maintain deliveries of the higher-priced Li L9 and Li L8 models above 10,000 units each, with an overall monthly target of 40,000 units.
See also: Li Auto CEO Sees Promise in Battery Swap Model, Acknowledges NIO’s Business Strategy
To meet this revised target, Li Auto would need to average approximately 45,000 deliveries per month for the remaining six months, assuming it achieves 30,000 vehicle deliveries in June.
Li Auto’s recent performance has been characterized by significant growth, particularly notable as the broader new energy vehicle industry in China has experienced a slowdown. In May, the company delivered a record-breaking 28,277 vehicles, marking the third consecutive month in which deliveries exceeded 20,000 units. From January to May, Li Auto’s cumulative deliveries reached an impressive 106,542 unit.
During Li Auto’s first Family Tech Day event on June 17, the Li L7 achieved a milestone by selling over 1,000 units in a single day, as previously announced by Li.
See also: Li Auto delivers 31,716 vehicles in Q1 2022, up 152% year-on-year
The Li L7, which was almost canceled during its development phase, was launched on February 8 and currently offers three versions with varying starting prices. All of Li Auto’s existing models are extended-range electric vehicles (EREVs), including the Li L8 and Li L9, which are higher-priced six-seat models.
Li Xiang disclosed on Weibo on June 18 that he had initially considered canceling the Li L7 last September but was dissuaded by other executives. While most members of Li Auto’s management team initially suggested setting an annual sales target of 360,000 units, Li Xiang opted to establish a budget target based on annual sales of 306,000 units. He explained that this decision was influenced by concerns about the economic environment this year and the company’s failure to meet budget targets in previous years.
