Li Auto Promotions

Li Auto delivered 44,246 vehicles in December, a 24.38% year-on-year decline and the seventh consecutive month of falling deliveries.

Li Auto began offering final payment reductions and 3-year 0-interest financing on L-series models, allowing buyers to save up to RMB 38,000 ($5,210).

Li Auto is the first local automaker to respond to Tesla's limited-time discount introduced for the Model Y on November 25.

Li Auto has re-expanded its car purchase incentive after a July 25 scaling back, saying the move aims to celebrate Chinese Valentine's Day, which will come on August 10.

Li Auto's move comes as the price war in China's auto industry eases, after some luxury brands have rolled back steep discounts.

Li Auto has launched a limited time 0 down payment car purchase program with a gift package of up to RMB 7,196, while the previous RMB 10,000 worth of benefits continue to be available.

Some Li Auto stores saw a significant uptick in sales just this past weekend, and some trim levels are no longer available for delivery before the Chinese New Year, according to local media.

Li Auto is offering preferential loan rates to customers who buy its models before the end of the year, a rare public promotional move by the company in the past few years.

While Li Auto claims that it is offering the insurance subsidy to celebrate the milestones in the deliveries of its L-series models, it is more likely to be an effort to maintain current sales momentum.

Speculation about the Li L8 may have led to a delay in consumer purchases of the Li ONE, a bigger cannibalization than the Li L9, according to Deutsche Bank analyst Edison Yu.