Chinese electric vehicle (EV) manufacturer Li Auto witnessed a dip in January deliveries, a customary trend associated with the start of the year and the Chinese Lunar New Year holiday. According to the data released by the company, it delivered 31,165 vehicles in January, reflecting a notable 38.11% decrease from the preceding month. Despite the month-on-month decline, the figures marked a substantial 105.83% year-on-year increase.
The month of January, coinciding with the Chinese Lunar New Year, typically experiences lower car sales in China due to subdued demand following year-end releases and a population engaged in holiday festivities. The Chinese Lunar New Year holiday for 2024 spans from February 10 to February 17, with last year's holiday observed from January 21-27, 2023.
As of January 31, Li Auto has achieved a cumulative total of 664,529 deliveries since its inception. The company currently boasts an extensive retail presence, with 474 stores across 142 cities, complemented by 360 servicing centers and authorized body and paint shops in 209 cities.
Looking ahead, Li Auto has set ambitious targets for 2024, as indicated by its founder, chairman, and CEO, Li Xiang, who hinted at challenging the annual delivery milestone of 800,000 units and monthly deliveries of 100,000 units. In today's formal statement, the company reiterated its commitment to becoming China's top-selling premium car brand, aiming for a record-high of 800,000 annual deliveries.
Li Auto's existing lineup comprises three extended-range electric vehicles (EREVs) – Li L7, Li L8, and Li L9, all classified as plug-in hybrids. The company's expansion strategy for 2024 includes the introduction of several models, including its inaugural battery electric vehicle (BEV) model, the Li Mega MPV (Multi-Purpose Vehicle).
Highlighting 2024 as a year of unprecedented growth, Li Xiang emphasized the establishment of a portfolio featuring eight competitive models, comprising four EREVs and four BEVs, to cater to the evolving preferences of family users. The company's 2024 product launches are scheduled to commence in March, starting with the official introduction and deliveries of the Li Mega, alongside the 2024 versions of Li L7, Li L8, and Li L9.
Concurrently, Li Auto is actively upgrading its sales and service network, with a targeted expansion to 800 retail stores and over 500 authorized body and paint stores by the conclusion of 2024.