Li Auto

Steady-state monthly sales of the Li L9 are expected to be in the 8,000 to 10,000 range, and both the Li L7 and Li L8 are expected to be in the 10,000 to 15,000 range, a Li Auto executive said.

Deliveries of Li L9 and Li L8 both exceeded 10,000 units in December. Li Auto delivered 46,319 vehicles in the fourth quarter, up 31.51 percent year-on-year.

The Li L7 is a five-seat version of the Li L8 and will be offered in two variants with starting prices of RMB 339,800 and 379,800 respectively.

The Li L9 and Li L8 were fast-tracking their capacity climb, and Li Auto is on track to exceed 20,000 deliveries in December, an executive said.

The sharp decline in gross margin was due to a huge hit of $803 million from inventory provisioning and loss of purchase commitments related to the accelerated phase-out of Li ONE.

Shen has served as president of Li Auto since November 2015. His last day with the company is expected to be around the end of June 2023.

Li Auto's fourth-quarter delivery guidance of 45,000 to 48,000 vehicles means it expects to deliver 19,914 to 22,914 vehicles in December.

"We expect a somewhat messy quarter due to accelerated phase-out of the Li ONE materially hurting margins," Deutsche Bank analyst Edison Yu's team said.

Li Auto delivered a record 15,034 vehicles in November, a single-month high, according to figures released today.

Previously released data has shown that Li Auto delivered 26,524 vehicles in the third quarter, below the guidance range of 27,000 to 29,000 vehicles.