Li Auto Bets on L8, L6 EVs to Revive Sales After Weak July Data
In a bid to revive sluggish sales, Chinese electric vehicle (EV) manufacturer Li Auto has set its sights on the upcoming L8 and L6 SUVs to drive growth. The company plans to deliver over 10,000 units of the Li L8 EV by China’s October 1-8 National Day holiday, with the first units arriving on August 20. Priced at 321,800 yuan, the SUV’s relaunch follows a muted debut and online smear allegations.
July deliveries fell 39.7% YoY, a stark contrast to the company’s initial growth trajectory. However, despite the setback, Li Auto remains optimistic about the L8 and L6 SUVs, which are expected to inject new life into the brand.
The Li L8 EV is an upgraded version of the Li One, Li Auto’s first model, which was launched in 2020. The new SUV boasts improved performance, range, and features, making it a more competitive offering in the market. With a range of up to 701 kilometers, the L8 is expected to appeal to a wider audience, particularly families and young professionals.
Li Auto has been facing intense competition in the Chinese EV market, which has seen a surge in new entrants and established players vying for market share. The company has been working to strengthen its brand presence and expand its distribution network to stay ahead of the curve.
The L6 SUV, which is expected to hit the market soon, will be Li Auto’s first EV with a range of over 1,000 kilometers. The vehicle is designed to cater to the growing demand for long-range EVs, which is expected to continue to drive growth in the Chinese EV market.
Retail sentiment remains bullish despite the weak July data, with many analysts expecting Li Auto to bounce back in the second half of the year. The company’s strong brand reputation, improved product offerings, and strategic partnerships with major players in the Chinese EV ecosystem all bode well for its future prospects.
Li Auto’s stock has been under pressure in recent weeks, falling by over 10% since the start of July. However, investors remain optimistic about the company’s long-term potential, with many seeing the current weakness as a buying opportunity.
In conclusion, Li Auto’s bet on the L8 and L6 SUVs is a crucial step in reviving its sales momentum. With a strong product lineup and improving brand reputation, the company is well-positioned to drive growth in the competitive Chinese EV market. As the National Day holiday approaches, Li Auto is poised to make a strong push to deliver over 10,000 units of the L8 EV, a goal that could provide a much-needed boost to its sales momentum.
