Li Auto Inc. today announced that the Company delivered 34,134 vehicles in July 2023, representing an increase of 227.5% year over year and surpassing the 30,000 mark for the second consecutive month. The cumulative deliveries of Li Auto vehicles in 2023 reached 173,251 as of the end of July.
Li Auto stock is up 2.8% in premarket trading.
“As a preferred premium automotive brand for Chinese families, we successfully delivered our 400,000th vehicle in July, becoming the first emerging NEV manufacturer in China to achieve this milestone,” commented Xiang Li, chairman and chief executive officer of Li Auto. “Our three Li L series models achieved cumulative deliveries of over 200,000 vehicles since their successive launches beginning in June 2022. Li L series also consistently ranked as the top seller among SUVs priced above RMB300,000 in each month of the second quarter, establishing itself as a leader in China’s premium automotive market. Specifically, we delivered over 50,000 Li L7s, our five-seat flagship family SUV, within five months of delivery commencement, while increasing monthly deliveries of our two six-seat SUVs, Li L9 and Li L8, from about 12,000 in March this year to around 20,000 in July. This solid performance demonstrates our product strength, which drives our success in a competitive environment and eventually leads to higher sales. Finally, we intend to roll out Li Magic Carpet air suspension 2.0 through OTA this month to bring our users better handling and suspension experience.”
As of July 31, 2023, the Company had 337 retail stores in 128 cities, as well as 323 servicing centers and Li Auto-authorized body and paint shops operating in 222 cities.