- Li Auto's sales target for this year is 700,000 vehicles, representing an increase of about 40 percent, according to local media.
- Its internal sales target for the two new BEV models is 50,000 vehicles, but it has given higher guidance to suppliers.
Li Auto's (NASDAQ: LI) sales target for this year is 700,000 vehicles, local media 21jingji reported today, citing multiple independent sources.
The target represents about 40 percent growth, considering that Li Auto delivered 500,508 vehicles in 2024.
Li Auto is conservative in its expectations for the two new battery electric vehicle (BEV) models that will be launched this year, with a full-year target of only 50,000 vehicles, 21jingji quoted an insider at the company as saying.
Notably, Li Auto has provided its suppliers with higher BEV sales guidance -- more than 20 percent of total sales, according to the report.
This means that Li Auto has told suppliers that it expects to sell more than 140,000 BEVs this year, the report noted.
"This is understandable because it wants to lock in supply chain orders in advance," said a supply chain source close to Li Auto.
Suppliers also supply other automakers, and it is still important for Li Auto to ensure an adequate supply of parts, the source said.
"In case its BEV models sell well but the production capacity does not ramp up smoothly, it will be a big loss for Li Auto," the source said.
Based on Li Auto's internal expectations and guidance to suppliers, the company's sales target for its extended-range electric vehicle (EREV) models this year will be between 560,000 and 650,000 units, which means an average of 46,700-54,100 units per month, 21jingji noted.
Li Auto's current models include the Li Mega MPV (multi-purpose vehicle), as well as SUV (sport utility vehicle) models -- the Li L9, Li L8, Li L7 and Li L6.
The Li Mega is the company's only BEV model at present, while the L series models are all EREVs.
At the end of last month, Li Auto announced that its first pure electric SUV model, named Li i8, will be released in July.
In the second half of this year, Li Auto would also launch the Li i6, its other pure electric SUV model, the company's management said during a financial results conference call on March 14.
The launch of the Li i8 and Li i6 would be similar to the cadence of the Li L9 and Li L8, which were launched in 2022, in order to support sales in the second half of the year and to store orders for the first quarter of next year, the company's management said.
Li Auto would achieve sales growth this year through product upgrades, expansion of the sales network, enhanced marketing, and accelerated overseas market expansion, its management said.
EREVs remain Li Auto's main selling products. In 2024, the L-series EREV sold 489,710 units, contributing 97.84 percent of the company's annual sales, according to data compiled by CnEVPost.
The 40 percent sales target is conservative for Li Auto, especially considering that its two main domestic peers have more aggressive targets.
Nio (NYSE: NIO) management previously said the company is targeting to double its sales in 2025 compared to 2024. This means it is targeting to deliver around 440,000 vehicles in 2025.
Xpeng (NYSE: XPEV) management similarly previously said it is targeting to double its sales this year, which means it is aiming to deliver around 380,000 vehicles in 2025.
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