Li Auto said it is targeting a rebound to 50,000 monthly deliveries in March.
Li Auto (NASDAQ: LI)'s deliveries continued to decline last month, as the Chinese New Year holiday brought significant disruptions.
Li Auto delivered 20,251 vehicles in February, up 21.85 percent from a year earlier, but down 35 percent from January, according to data it released today.
In the first two months of the year, Li Auto delivered 62,330 vehicles, considering it delivered 31,165 in January.
At the end of February, Li Auto's cumulative deliveries since inception stood at 684,780 vehicles.
"Even with the impact of Chinese New Year and some trims of Li L series models sold out as we prepare for switching to new models, our average daily delivery in February (excluding the eight-day Chinese New Year holiday period) still increased significantly compared with that of February 2023," said Li Xiang, founder, chairman and CEO of Li Auto.
Li Auto plans to officially launch the Li Mega MPV (Multi-Purpose Vehicle) and the 2024 Li L series at its spring launch event later today.
The Li Mega will be the company's first battery electric vehicle (BEV) and the L-series cars are extended-range electric vehicles (EREVs).
The Li Mega is a revolutionary model meticulously crafted to meet the needs of multi-generational households, and the 2024 Li L7, Li L8 and Li L9 models will be equipped with enhanced functions and features to better serve our family users, Li said.
"With the release and deliveries of these new models, we target to have our monthly deliveries rebound to 50,000 vehicles in March," Li said.
As of February 29, 2024, the company had 475 retail stores in 142 cities, as well as 355 servicing centers and Li Auto-authorized body and paint shops operating in 209 cities.
Li Mega pre-orders far exceed Li L9's performance over same period, says Li Auto CEO
