What's Going On With Li Auto Shares Today?

Li Auto Inc. LI delivered 20,251 vehicles in February 2024, up 21.8% year over year.

The cumulative deliveries of Li Auto vehicles reached 684,780 as of the end of February 2024.

“We are scheduled to officially launch the long-expected Li MEGA and 2024 Li L series models at our spring launch event..,” said Xiang Li, chairman and chief executive officer of Li Auto.

With the release and deliveries of these new models, the company targets to have monthly deliveries rebound to 50,000 vehicles in March.

Li Auto’s fourth quarter results were released earlier this month. The company’s revenue soared 136.4% to $5.88 billion, crushing estimates with 131,805 vehicles delivered.

The company expects first-quarter vehicle deliveries of 100,000 – 103,000, representing an increase of 90.2% – 95.9% Y/Y.

As of February 29, 2024, the company said it had 475 retail stores in 142 cities, as well as 355 servicing centers and Li Auto-authorized body and paint shops operating in 209 cities.

Price Action: LI shares are trading lower by 2.55% to $44.71 premarket on the last check Friday. 

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