Li Auto Bets on L8, L6 EVs to Revive Sales after Weak July Data
Li Auto, a Chinese electric vehicle (EV) manufacturer, is banking on its new L8 and upcoming L6 SUVs to revive its sales momentum, which has been slowed down by poor July data. The company plans to deliver over 10,000 Li L8 EVs by China’s October 1-8 National Day holiday, with the first units expected to arrive on August 20. The SUV’s relaunch comes after a muted debut and online smear allegations.
Li Auto’s July deliveries fell 39.7% year-over-year (YoY), which has raised concerns about the company’s growth prospects. However, retail sentiment remains bullish, and Li Auto is pinning its hopes on the L8 and L6 to turn the tide.
The Li L8 is an all-new SUV that was launched in China in May 2022. It is priced at 321,800 yuan (approximately $46,000) and features a range of up to 700 kilometers (435 miles) on a single charge. The SUV’s relaunch is seen as crucial for Li Auto, as it looks to recover from a disappointing debut.
Li Auto’s plans to deliver over 10,000 Li L8 EVs by the end of September are ambitious, but the company is confident that it can meet its target. The company has been working hard to increase production capacity and improve supply chain efficiency, which should help it to meet its delivery goals.
The L6 SUV, which is scheduled to be launched in the fourth quarter of 2022, is also expected to play a key role in Li Auto’s revival plans. The L6 is a more affordable option than the L8, with a starting price of around 230,000 yuan (approximately $33,000). It is expected to be a more mass-market offering, which could help Li Auto to expand its customer base and increase sales.
Li Auto’s focus on the L8 and L6 is a smart move, as the Chinese EV market is increasingly competitive. The company needs to differentiate itself from its rivals and offer products that meet the changing needs of Chinese consumers.
In addition to its new SUVs, Li Auto is also investing in its brand and marketing efforts. The company has been running a series of promotional campaigns to increase brand awareness and drive sales. Li Auto has also partnered with several popular Chinese influencers and celebrities to promote its products.
Li Auto’s efforts seem to be paying off, as retail sentiment remains bullish. The company’s stock price has been stable in recent weeks, and investor confidence is expected to increase as the company delivers its new SUVs and launches the L6.
In conclusion, Li Auto is betting big on its new L8 and upcoming L6 SUVs to revive its sales momentum after a weak July data. The company’s plans to deliver over 10,000 Li L8 EVs by the end of September are ambitious, but the company is confident that it can meet its target. With the L6 scheduled to be launched in the fourth quarter of 2022, Li Auto is well-positioned to capitalize on the growing demand for electric vehicles in China.
