Li Auto CEO said they have been complained about by many of their peers, so they are temporarily unable to publish insurance data from last week.
(Image credit: CnEVPost)
Li Auto (NASDAQ: LI) continued to share weekly auto insurance registration numbers in China after they became unavailable on major channels starting in April.
Now the automaker has stopped sharing those numbers as well, and its founder, chairman and CEO Li Xiang explained why.
"We have been complained and reported by many peers, so we can't release the insurance registration data for the time being since last week, very unfortunate," Li wrote on Weibo today.
Notably, earlier today, multiple versions of a table purportedly showing the insurance registration data for the first week of May circulated on Chinese social media, with Li claiming that much of the data was fake.
"I saw that some of my peers couldn't stand the fact that some people started faking the insurance registration data (which every car company buys) and took it upon themselves to release the real data for the first week," he said.
Li Auto's insurance was not less than 6,000 in that falsified data, but 7,000, he said.
Previously, we had access to those numbers every Tuesday, and it was Li Auto's practice to share a portion of them later to show off that it was leading the pack among new car makers.
The company last shared those numbers on May 5, when it provided a table showing that it sold 8,100 units in the week of April 24 to April 30.
Li Auto delivered 25,681 vehicles in April, another monthly high, while surpassing the 20,000-delivery mark for the second consecutive month.
On May 10, Li Auto reported its first-quarter earnings with guidance that second-quarter vehicle deliveries would range from 76,000 to 81,000.
This means that it expects to deliver a total of 50,319 to 55,319 vehicles in May and June.
Insurance registrations for week ending Apr 30: Tesla 11,500, Li Auto 8,100, NIO 2,600