In the first quarter, delivered 80,400 vehicles, exceeding the upper end of the lowered guidance range of 76,000 to 78,000 vehicles.

Li Auto (NASDAQ: LI) delivered 28,984 vehicles in March, bouncing back from the previous month, though still below deliveries in January before the Chinese New Year holiday.

The company delivered 28,984 vehicles in March, up 43.12 percent from 20,251 in February and up 39.19 percent from 20,823 in the same month last year, according to data it released today.

Li Auto's deliveries last month were still lower than January's 31,165 units. February 10-17 was this year's Chinese New Year holiday, which caused significant disruptions to the automakers' deliveries.

In the first quarter, Li Auto delivered 80,400 vehicles, exceeding the upper end of its lowered guidance range of 76,000 to 78,000 vehicles. That's up 52.9 percent year-on-year, but down 39 percent from last year's fourth quarter.

Li Auto's cumulative deliveries as of March amounted to 713,764 units, making it the first emerging NEV company in China to reach the milestone of 700,000 cumulative deliveries, it said.

"With gratitude for the trust and support of over 700,000 families, we remain dedicated to enhancing our focus on user value and continually improving our product strength and user experience," Li Auto chairman and CEO Li Xiang said.

As of March 31, the company had 474 retail stores in 142 cities and 356 repair centers and Li Auto authorized body and paint stores in 209 cities.

Li Auto has 357 supercharging stations in operation, equipped with 1,544 charging piles.

Li Auto on March 21 lowered its guidance for first-quarter deliveries to 76,000 to 78,000 units, down from 100,000 to 103,000 units, citing lower-than-expected order intake.

The company officially entered the battery electric vehicle (BEV) segment with the launch of the Li Mega MPV (Multi-Purpose Vehicle) on the evening of March 1 Beijing Time.

It also rolled out 2024 updates for its three extended-range electric vehicle (EREV) models -- Li L7, Li L8 and Li L9 -- at that time.

Li Auto reportedly lowers 2024 sales target to 560,000-640,000 cars