Li Auto delivered 48,740 vehicles in November, a decrease of 5.25 percent from October and the second consecutive month-on-month decline.
Li Auto (NASDAQ: LI) saw its second consecutive sequential decline in monthly deliveries last month, , signaling that it may be facing pressure in a peak season for the automotive industry at the end of the year.
The company delivered 48,740 vehicles in November, up 18.79 percent from 41,030 a year ago, but down 5.25 percent from 51,443 in October, marking the second consecutive sequential month-on-month decline, according to data it released today.
In the January-November period, Li Auto delivered 441,995 vehicles, up 35.72 percent year-on-year.
At the end of November, the company's cumulative deliveries since inception stood at 1,075,359 vehicles.
Li Auto on October 31 guided for fourth-quarter vehicle deliveries in the 160,000 to 170,000 range, implying year-on-year growth of 21.4 percent to 29.0 percent, slightly higher than the 152,831 vehicles delivered in the third quarter.
If Li Auto is to meet that guidance, it will need to deliver at least 59,817 vehicles in December.
The company's deliveries for the full year 2024 are expected to be in the range of 501,812 to 511,812 vehicles, according to the guidance.
Prior to announcing the November delivery figures, Li Auto had already announced its promotional policy, being the first local carmaker to launch a response after Tesla (NASDAQ: TSLA) started offering limited-time discounts on the Model Y on November 25.
Customers who purchase and complete delivery of any Li Auto model on or before December 31 can enjoy a three-year, 0 percent interest financing incentive on their purchase, the Chinese carmaker announced on November 29.
Li Auto's current model range includes the L-series extended-range electric vehicle (EREV) models -- Li L6, Li L7, Li L8, Li L9 -- and the all-electric Li Mega MPV (multi-purpose vehicle).
The company's continuous advancements in autonomous driving technologies have boosted demand for models equipped with Li AD Max, Li Auto said.
In November, Li AD Max-equipped models accounted for more than 70 percent and 80 percent of orders for models costing more than RMB 300,000 yuan ($41,420) and 400,000 yuan, respectively, it said.
Li Auto released OTA update version 6.5 in November, which leverages its end-to-end (E2E) and visual language modeling (VLM) technologies to provide one-click point-to-point autonomous driving feature to all Li AD Max users.
As of November 30, 2024, the company has 475 retail stores in 141 cities and operates 451 service centers and Li Auto authorized body and paint shops in 223 cities.
It operates 1,135 supercharging stations with 5,680 charging piles across the country.
($1 = RMB 7.2429)
Li Auto launches 3-year 0-interest financing incentive for all models
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