Tuesday, July 16, 2024

Li Auto Reports 28,984 Vehicle Deliveries in March 2024, Showing 39.19% Year-On-Year Growth

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Li Auto announced that it delivered 28,984 vehicles in March, marking a substantial 43.12% increase from the 20,251 vehicles delivered in February. While this performance demonstrates a strong recovery, it still falls short of the 31,165 units delivered in January before the Chinese New Year holiday. Despite this, the March figures show a robust 39.19% increase from the same period last year, when the company delivered 20,823 vehicles.

In the first quarter of 2024, Li Auto delivered a total of 80,400 vehicles, surpassing the upper end of its revised guidance range of 76,000 to 78,000 vehicles. This represents a significant 52.9% increase year-on-year. However, it is a 39% decrease from the fourth quarter of 2023.

Li Auto also achieved a major milestone, surpassing 700,000 cumulative deliveries as of March, making it the first emerging new energy vehicle (NEV) company in China to achieve this feat. Li Xiang, Chairman and CEO of Li Auto, expressed gratitude for the trust and support of over 700,000 families, emphasizing the company’s commitment to enhancing user value and improving product strength and user experience.

As of March 31, Li Auto had 474 retail stores in 142 cities, along with 356 repair centers and authorized body and paint stores in 209 cities. The company’s infrastructure also includes 357 supercharging stations in operation, equipped with 1,544 charging piles.

Li Auto revised its guidance for first-quarter deliveries on March 21, lowering it to 76,000 to 78,000 units from the previous estimate of 100,000 to 103,000 units. This adjustment was attributed to lower-than-expected order intake.

Moreover, Li Auto made a significant entry into the battery electric vehicle (BEV) segment with the launch of the Li Mega MPV (Multi-Purpose Vehicle) on the evening of March 1 Beijing Time, signaling its expansion and diversification within the electric vehicle market.

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