Li Auto August Deliveries Skyrocket 664% On Strength In Li L Series Models

Li Auto Inc. LI delivered 34,914 vehicles in August 2023, up 663.8% Y/Y, thanks to the popularity of its three Li L series models that have solidified its position in China's NEV and premium vehicle markets. 

From January to August this year, the company said it has captured an over 30% market share in the RMB300,000 and higher NEV market in China.

The company's monthly deliveries for each of the three Li L series models exceeded 10,000 vehicles.

In the recently reported second quarter, the company said it expects Q3 vehicle deliveries of 100,000 – 103,000, representing an increase of 277.0% - 288.3% Y/Y.

Read More: Li Auto's Q2: 228% Topline Growth, Surpasses Monthly Delivery Benchmark In June

"Li L9 has remained a top seller in the full-size SUV segment for twelve consecutive months, achieving over 100,000 cumulative deliveries since the first Li L9 rolled off the production line in August 2022, while Li L7 and Li L8 consistently ranked first and second, respectively, in the large SUV sales chart," said Xiang Li, chairman and chief executive officer of Li Auto. 

At the Chengdu Motor Show 2023, Li Auto announced the launch and delivery time for Li MEGA, its technology-empowered flagship model for families.

The cumulative deliveries of Li Auto vehicles in 2023 reached 208,165 as of the end of August.

Price Action: LI shares are trading higher by 2.09% to $42.52 premarket on the last check Friday.