Li Auto experienced another extraordinary month of deliveries in May, resulting in its single-month revenue exceeding RMB 10 billion for the first time. According to the latest data released today, Li Auto delivered a total of 28,277 vehicles in May, marking a remarkable year-on-year increase of 145.97% and a 10.11% rise from April. This is the third consecutive month that Li Auto has surpassed the 20,000-unit mark, demonstrating its consistent growth in the market.
Li Auto reported that their entry-level model, the five-seat Li L7, achieved impressive results with over 10,000 deliveries for the second month in a row; however, the exact figure was not disclosed. Notably, all models currently offered by the company are extended-range electric vehicles (EREVs), functioning as plug-in hybrid vehicles (PHEVs). The Li L7 is accompanied by the six-seat Li L8 and Li L9 models in their lineup.
The significant increase in deliveries allowed Li Auto to reach a new milestone, generating revenue of over RMB 10 billion ($1.4 billion) in a single month. Li Xiang, the founder, chairman, and CEO of Li Auto, expressed his enthusiasm, stating that achieving this level of monthly revenue lays a strong foundation for the company to surpass its revenue goal of RMB 100 billion in 2023.
During the announcement of their first-quarter earnings on May 10, Li Auto provided guidance for second-quarter deliveries, projecting a range of 76,000 to 81,000 units. With the May deliveries included, it is anticipated that Li Auto will achieve a range of 22,042 to 27,042 deliveries in June.
From January to May, Li Auto accomplished the delivery of 106,542 vehicles, marking an impressive 124.87% growth compared to the same period in the previous year. As of the end of May, the cumulative deliveries since the company’s inception reached a noteworthy milestone of 363,876 units.
As of May 31, Li Auto has established 314 retail centers across China, serving 124 cities. Furthermore, they operate 319 after-sales service centers and authorized sheet metal spray centers in 222 cities, ensuring a comprehensive customer support network.
Li Xiang took to Weibo on May 24 to share his goal of reaching 20,000 monthly sales for their five-seat SUV, the Li L7, by October. He called upon the company’s supplier partners, urging them to keep up with the capacity requirements.
On May 30, Li Xiang announced on Weibo that Li Auto had consistently exceeded 1,000 units in both orders and deliveries per day for three consecutive weeks, highlighting the strong demand for their vehicles.
Li Xiang also emphasized the company’s focus on enhancing the availability of their supply chain, acknowledging that the supply target set at the beginning of the year was relatively conservative. Efforts are underway to ramp up production to meet the growing market demand.
