Li Auto's November Triumph: Vehicles Deliveries Jump 173% - Has It Surpassed Rival XPeng And NIO's Monthly Figures?

Li Auto Inc. LI delivered 41,030 vehicles in November 2023, representing an increase of 172.9% year over year. 

Meanwhile, XPeng Inc. XPEV reached a new monthly record in November of delivering 20,041 vehicles, representing a 245% increase year over year. NIO Inc. NIO delivered 15,959 vehicles in November 2023, increasing by 12.6% year over year. 

Cumulative year-to-date deliveries of Li Auto vehicles reached 325,677 as of the end of the last month, achieving its 2023 target of 300,000 vehicles ahead of schedule. 

Propelled by the growing market demand, the company will continue to strive for a 50,000 monthly delivery target in December.

Xiang Li, chairman and chief executive officer of Li Auto, commented, "Bolstered by the strong growth momentum of our three Li L series models, our monthly deliveries have exceeded 40,000 vehicles for two consecutive months, the highest among Chinese emerging new energy automakers and premium brands in China, making us the best-selling brand among SUVs priced above RMB300,000 in China."

Going ahead, the company plans to accelerate the rollout of AD Max 3.0 through the upgrade of OTA version 5.0 in December. 

With this upgrade, AD Max 3.0 will provide full-scenario autonomous driving (Navigation on ADAS) and assisted driving (lane change control) functions.

As of the end of last month, Li had 398 retail stores in 136 cities, 320 servicing centers, and Li Auto-authorized body and paint shops in 209 cities.

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Price Action: LI shares are trading higher by 2.19% to $37.76 premarket on the last check Friday.

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