Li Auto said it will challenge itself to become China’s best-selling premium auto brand by aiming for a new high of 800,000 deliveries a year.
Li Auto said it will challenge itself to become China’s best-selling premium auto brand by aiming for a new high of 800,000 deliveries a year.
Li Auto’s (NASDAQ: LI) deliveries in January were down significantly from December, as seasonal factors typically lead to lower auto sales in China at the start of the year.
The company delivered 31,165 vehicles in January, up 105.83 percent year-on-year, but down 38.11 percent from December, according to data it released today.
January, and the month in which the Chinese Lunar New Year holiday falls, are usually low points for car sales in China, as demand for cars is usually released at the end of the previous year and the population rests for the holiday.
The 2024 Chinese Lunar New Year holiday runs from February 10 to February 17. Last year’s holiday was January 21-27, 2023.
At the end of January, Li Auto had accumulated 664,529 deliveries since its inception.
As of January 31, the company had 474 retail stores in 142 cities and 360 servicing centers and Li Auto authorized body and paint shops in 209 cities.
Li Auto has high goals for 2024, as its founder, chairman and CEO Li Xiang hinted on January 1 that the company will challenge annual deliveries of 800,000 units in 2024, as well as monthly deliveries of 100,000 units.
In its statement today, Li Auto formally mentioned the goal, saying it will challenge itself to become China’s best-selling premium car brand with a new high of 800,000 annual deliveries.
Li Auto’s three models currently on sale are the Li L7, Li L8 and Li L9, all of which are extended-range electric vehicles (EREVs), essentially plug-in hybrids.
The company will introduce several models in 2024, including its first battery electric vehicle (BEV) model, the Li Mega MPV (Multi-Purpose Vehicle).
“2024 will be an unprecedented year of growth for us, and we will establish a portfolio of eight competitive models, including four EREVs and four BEVs, to satisfy the evolving demands of our family users,” Mr. Li said today.
Li Auto’s 2024 launches will kick off in March when the Li Mega is officially launched and deliveries begin, along with the 2024 Li L7, Li L8 and Li L9, he added, repeating previously mentioned plans.
Upgrades to the company’s sales and service network are also underway, with the goal of establishing 800 retail stores and more than 500 Li Auto-authorized body and paint stores by the end of 2024.
Li Auto is moving forward with its supercharging network, with more than 330 supercharging stations set to open during the Chinese New Year holiday period from February 9 to February 17, during which time Li Auto owners will be able to use them completely free of charge.
