- Most of the stores slated for closure were opened during Li Auto's previous aggressive expansion phase.
- Li Auto is currently evaluating the move, and the exact number of stores to be closed remains unclear.
Li Auto (NASDAQ: LI, HKG: 2015) is reportedly closing some underperforming stores as it faces persistent sales declines amid fierce competition.
The company is currently evaluating the move, though the exact number of stores to be closed remains unclear, local media outlet Lanjinger reported on Thursday, citing a source.
The number isn't the main focus; it's more about efficiency and other factors, the source said.
Most of the outlets slated for closure were established during Li Auto's previous aggressive expansion phase, the report noted, adding that the company expanded its sales channels most rapidly in 2023, adding 179 retail stores that year.
As of December 31, Li Auto operated 548 retail stores across 159 cities, the company said when releasing its December delivery figures on January 1.
Li Auto delivered 376,030 vehicles in 2023, marking a 182.21% year-on-year increase — its fastest growth rate in the past five years.
It delivered a record 500,508 vehicles in 2024, up 33.10% year-on-year.
In 2025, Li Auto's deliveries declined by 18.81% to 406,343 units, with most months showing a downward trend throughout the year.
| Year | Deliveries |
|---|---|
| 2019 | 973 |
| 2020 | 32,624 |
| 2021 | 90,491 |
| 2022 | 133,246 |
| 2023 | 376,030 |
| 2024 | 500,508 |
| 2025 | 406,343 |
The Chinese automaker has tentatively set a growth target of about 40% for 2026, aiming to reach around 550,000 units in sales, according to a report Tuesday by another domestic media outlet 36Kr.
To achieve its 2026 sales target, Li Auto is refocusing on its most certain business areas, with an overall strategic direction of regaining leadership in the extended-range electric vehicle (EREV) sector, according to 36Kr.
