Li Auto saw deliveries plunge in August, seemingly because the newly launched Li L9 and the upcoming Li L8 led to a curtailment of potential consumer demand for the main-selling Li ONE model.
Li Auto delivered 4,571 vehicles in August, the second lowest so far this year behind April's 4,167 when its supply chain was hit hard by Covid lockdowns.
That's down 56 percent from 10,422 units in July and 52 percent from 9,433 units in the same month last year, figures released today show.
In the January-August period, Li Auto delivered 75,396 vehicles, up 57 percent from 48,176 units in the same period last year.
The company's cumulative deliveries through the end of August stood at 199,484 units.
"We are pleased to have commenced deliveries of our flagship smart SUV, Li L9, and to have heard from Li L9's initial users that it exceeded their expectations," said Shen Yanan, co-founder and president of Li Auto.
"Meanwhile, we are preparing for the launch of Li L8 in early November, with delivery beginning in the same month. Li L8 is a large premium smart SUV for families. The model will be available in two variants, a six-seater and a VIP five-seater, to broadly cater to diverse family groups, "He said.
Li Auto officially unveiled the Li L9 on June 21, the company's second extended-range electric vehicle (EREV) model after the Li ONE, with first deliveries starting on August 30.
The delivery of the Li L9, as well as previous rumors about the impending release of the Li L8, may have caused potential Li Auto consumers to delay their car-buying plans.
Those who want to buy a Li ONE now can wait a little longer, the new Li L8 will be available soon, said He Lei, CEO of local car website Xchuxing, on Weibo on August 14.
Li Xiang, founder, chairman and CEO of Li Auto, also mentioned in a Weibo exchange with users on August 15 that for consumers currently waiting for the Li L8, they could skipping buying the Li ONE at this stage.