- This marks a rare mid-year year-on-year decline in deliveries for Li Auto, following several years of rapid growth.
- In the second quarter, Li Auto delivered 111,074 vehicles, a year-on-year increase of 2.30 percent and a 19.61 percent increase from the first quarter.
Li Auto (NASDAQ: LI) has experienced an unusual year-on-year decline in mid-year deliveries, amid intensifying competition in China's automotive market and adjustments to its team.
The company delivered 36,279 vehicles in June, a year-on-year decrease of 24.06 percent and an 11.20 percent decrease from May, according to data released today.
The beginning of each year is typically a slow season for China's automotive market, with sales gradually recovering by mid-year.
For Li Auto, this marks the first time in at least five years that it has seen a year-on-year decline in June deliveries, according to data compiled by CnEVPost.
In the second quarter, the company delivered 111,074 vehicles, representing a year-on-year increase of 2.30 percent and a quarter-on-quarter increase of 19.61 percent.
The quarterly delivery volume exceeded Li Auto's revised guidance announced on June 27, when the company lowered its second-quarter delivery guidance from the previously announced range of 123,000 to 128,000 vehicles to 108,000 vehicles, citing temporary impacts from sales system upgrades.
In the first half of the year, Li Auto delivered 203,938 vehicles, representing a year-on-year increase of 7.91 percent.
As of the end of June, the company had accumulated total deliveries of 1,337,810 vehicles since its inception.
With the launch of the six-seat pure electric SUV (sport utility vehicle) Li i8 in July and the five-seat pure electric SUV Li i6 in September, the company will establish a product lineup comprising four extended-range electric SUVs, one flagship MPV, and two high-voltage pure electric SUVs, Li Auto said today, reiterating the previously mentioned timeline.
Currently, the company is upgrading its sales system to ensure efficient operations across all models, aiming to provide users with better products and services, Li Auto said.
As the extended-range electric vehicle (EREV) market it pioneered faces stronger competition and the battery electric vehicle (BEV) market nears saturation, Li Auto faces greater headwinds this year.
Li Auto had lowered its 2025 sales target from 700,000 to 640,000 vehicles, according to a report by local media outlet 21jingji on May 21.
