Li Auto has re-expanded its car purchase incentive after a July 25 scaling back, saying the move aims to celebrate Chinese Valentine's Day, which will come on August 10.
Li Auto (NASDAQ: LI) has announced new limited-time car purchase incentives, re-expanding the amount after they were scaled back just eight days ago.
Customers who order any Li Auto model between August 1-13 can receive limited-time perks, including an exclusive gift package worth up to RMB 5,000 ($690), up to RMB 10,000 in purchase benefits, and a 0 down payment plan, according to a poster it shared on Weibo today.
Li Auto currently sells the L-series extended-range electric vehicle (EREV) models -- Li L6, Li L7, Li L8, Li L9 -- as well as the all-electric Li Mega MPV (multi-purpose vehicle).
Li Auto said the latest incentives aims to celebrate Chinese Valentine's Day -- the seventh day of the seventh month on the lunar calendar, which this year is August 10.
The company has been offering a 0 percent down payment program, up to RMB 10,000 in car purchase benefits, and limited-time exclusive gift packages of varying amounts since June.
On July 25, Li Auto scaled down the amount of the limited-time exclusive packages from the previous maximum of RMB 7,199 to RMB 2,399, and excluded the Li Mega from the offer.
Its latest limited-time purchase incentive announced today re-expands the exclusive package and includes the Li Mega.
Li Auto's local peers -- Nio (NYSE: NIO), Xpeng (NYSE: XPEV), and Zeekr (NYSE: ZK) -- have yet to announce their car purchase incentives for August.
Li Auto delivered a record 51,000 vehicles in July, with its lowest-priced Li L6 delivering more than 20,000 units for the second straight month, according to data it released yesterday.
The company's sales continue to be dominated by EREVs, with minimal contribution from its first battery electric vehicle (BEV) model, the Li Mega.
Li Auto did not mention monthly deliveries of its other models yesterday. In June, the Li Mega delivered just 589 vehicles, according to figures compiled by CnEVPost.
($1 = RMB 7.2339)
Li Auto delivers record 51,000 cars in Jul as Li L6 stays strong
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