- Li Auto delivered 31,767 vehicles in October, marking a 38.25 percent year-on-year decline and the fifth consecutive month of significant year-on-year drop.
- The Li i6 electric SUV, launched on September 26, has accumulated over 70,000 orders to date.
Li Auto (NASDAQ: LI) continued to see a steep decline in deliveries last month as production capacity for its new models remains ramping up.
The Chinese electric vehicle (EV) maker delivered 31,767 vehicles in October, a 38.25 percent year-on-year decline, marking its fifth consecutive month of significant year-on-year contraction, according to data released today.
The monthly deliveries further declined by 6.43 percent from September's 33,951 units, according to data compiled by CnEVPost.
From January to October, Li Auto delivered 328,916 vehicles, down 16.36 percent year-on-year.
As of the end of October, the company's cumulative deliveries since inception reached 1,462,788 units.
Li Auto said that its Li i6 electric SUV, launched on September 26, has accumulated over 70,000 orders. The company is taking all necessary steps to facilitate deliveries.
Li Auto's delivery performance has remained weak this year amid declining sales of its flagship L-series extended-range electric vehicles (EREVs).
The company launched the six-seat Li i8, its first pure-electric SUV, on July 29. On August 5, Li Auto relaunched the Li i8 with a price reduction following disappointing initial reception.
Li Auto introduced the Li i6, its second pure-electric SUV after the Li i8, on September 26.
Deliveries of the Li i8 commenced on August 20, while the Li i6 commenced deliveries on September 27.
Li Auto aimed for stable monthly deliveries of 6,000 units for the Li i8 and 9,000-10,000 units for the Li i6 by year-end, the company's founder, chairman, and CEO Li Xiang on September 1.
In September, the Li i8 delivered 5,716 units, and the Li i6 delivered 404 units, according to data compiled by CnEVPost.
Notably, Li Auto currently finds itself at a delicate juncture.
Last week, a Li Mega electric MPV (multi-purpose vehicle) traveling slowly on a Shanghai street experienced sparks from its chassis while passing through a traffic light intersection. Within seconds, the entire vehicle was engulfed in flames.
The incident has raised concerns about the company's vehicle safety. Yesterday, Li Auto announced a recall of 11,411 units of its 2024 Li Mega MPV, produced between February 18, 2024, and December 27, 2024, effective November 7.
This represents nearly half of the Li Mega's cumulative deliveries of 25,817 units through the end of September, according to data compiled by CnEVPost.
The recall comes amid significant growth in Li Mega deliveries, with the MPV setting a new record in September by delivering 3,277 units, surpassing its previous high of 3,229 units in March 2024.
