Correction: Revised the month-on-month delivery volume drop.
Li Auto's deliveries in January were down from December due to the negative impact of the Chinese New Year holiday, a seasonal factor.
Li Auto (NASDAQ: LI) saw a drop in deliveries in January compared to December last year, as the Chinese New Year holiday, a seasonal factor, had a negative impact.
Li Auto delivered 15,141 vehicles in January, down 28.69 percent from 21,233 vehicles in December but up 23.42 percent from 12,268 vehicles in the same month last year, according to data released by the company today.
Li Auto's cumulative deliveries reached 272,475 units by the end of January.
Li Auto is currently selling two models -- the Li L9 and Li L8 -- both of which are extended-range electric vehicles (EVs), which are plug-in hybrids.
The company will host the launch of the Li L7 on February 8, and show cars and cars for test drives will begin arriving at Li Auto's retail centers on February 9, it announced on Weibo on December 30.
"We ranked first in both China's full-size and large SUV markets for the full year of 2022, thanks to the outstanding sales performance of all three models we have brought to the market: Li L9, Li L8, and Li ONE," said Li Xiang, founder, chairman and CEO of Li Auto.
Li Auto has been dominating monthly sales of full-size SUVs in China since last September, and the company's vehicles have become the top choice for premium SUVs for families, said Li.
"We look forward to unlocking new journeys for families of three with the official launch of Li L7, a five-seat flagship family SUV, on February 8, 2023," he added.
The Li L7 will be available in two versions, Pro as well as Max, with starting prices of RMB 339,800 and RMB 379,800, respectively, the company previously said.
As of January 31, Li Auto had 296 retail stores in 123 cities, as well as 320 service centers and Li Auto-authorized body and paint stores operating in 222 cities.
Li Auto launched its second model, the Li L9, on June 21, 2022, and deliveries of the model began last August 30.
The Li L9 is priced at RMB 459,800, with the same flat rate as the company's first model, the Li ONE, which was discontinued last October.
On September 30, 2022, the Li L8 went on sale with two versions starting at RMB 359,800 and RMB 399,800 respectively, and deliveries began on November 10.
On September 22 last year, Li Auto said it would also launch the Li L6, a mid-size five-seat SUV priced within RMB 300,000.
On January 30, Li hinted that Li Auto would launch the Li L5 in non-SUV form with a price range of RMB 200,000-300,000.
The full-size Li L9 will remain in the RMB 400,000-500,000 price range, and the mid to large-size Li L8 and Li L7 will continue to target the RMB 300,000-400,000 price range, Li said at the time.
Li Auto's midsize Li L6 and non-SUV form factor Li L5 will stick to the RMB 200,000-300,000 price range, he said.
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