Written by Cláudio Afonso | LinkedIn | X
The nine year old Chinese automaker Li Auto announced on Monday that delivered 47,774 new energy vehicles (NEVs) in June 2024 bringing second quarter deliveries to 108,581 units.
The delivery result in June represents a growth of 46.7 percent from June 2023. When reporting the latest earnings results, the automaker had projected a delivery range of 105,000 to 110,000 vehicles for the current quarter.
Xiang Li, Li Auto’s chief executive, said the company’s latest model, Li L6, has sold more than 20,000 units last month. The extended range model starts at 249,800 yuan ($34,500) for the Pro trim and at 279,800 yuan for the Max trim.
NEVER MISS AN UPDATE
“In June, our sales momentum continued to increase, with monthly deliveries exceeding 40,000 vehicles in total and surpassing 20,000 vehicles for Li L6 alone,” Li stated.
“Since the second quarter, Li Auto has reclaimed the top spot in sales among China’s emerging new energy auto brands, and has become the sales champion of Chinese auto brands in the RMB200,000 and higher NEV market, driven by the launch of our new model, Li L6, and the improvement of store efficiency,” the CEO added.
Xiang Li said the company will rollout over the next days its NOA software to all the Li AD Max customers in all cities in the country.
“In early July, we will officially roll out our NOA independent of high-definition maps to all our Li AD Max users, making it available to use nationwide with ease. We welcome everybody to experience the latest version of our autonomous driving functions,” Li said.
NEVER MISS AN UPDATE
The company has currently 487 retail stores spread across 144 cities and 426 super charging stations equipped with 1,888 charging stalls in China.
In the first quarter of 2024, the company’s vehicle margin stood at 19.3 percent, slightly lower than the 19.8 percent recorded in the first quarter of 2023 and the 22.7 percent in the fourth quarter of the same year.
During the first quarter, Li Auto recorded revenue of 25.63 billion yuan, marking a 36% increase from the previous year. This figure slightly surpassed analysts’ expectations, which had projected revenue of 25.58 billion yuan.
In the second half of the year, Li Auto will be releasing another three pure electric SUV models with 5C charging and all-wheel drive. In the last earnings call, in late February, Li Auto’s Executive Director and President Donghui Ma guaranteed that those models would be “very, very competitive”.
Ma commented that the company “would like to focus exclusively on over 200,000 yuan family markets globally” adding that the strategy is “to continue to dive deep into this market, create a brand, and expand the market share”.
Written by Cláudio Afonso | LinkedIn | X
NEVER MISS AN UPDATE
The post Li Auto Delivers 47,774 NEVs in June, up 46.7% Year on Year first appeared on EV.