Written by Cláudio Afonso | LinkedIn | X
Chinese automaker Li Auto announced on Saturday that delivered 35,020 vehicles in May, an increase of 23.8 percent year over year and the best monthly result of the year.
When reporting the latest earnings results, the automaker had projected a delivery range of 105,000 to 110,000 vehicles for the current quarter.
The latest model from the brand, a five seat SUV named L6, reached 15,000 units since its launch in April. The extended range model starts at 249,800 yuan ($34,500) for the Pro trim and at 279,800 yuan for the Max trim.
“We have delivered over 15,000 Li L6s since deliveries began on April 24, setting a record pace for our newly launched models. We are fully committed to securing the supply chain and ramping up production of Li L6 to ensure users receive their vehicles at the earliest possible opportunity,” the chief executive Xiang Li stated.
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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.
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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
