Li Auto Bets on L8, L6 EVs to Revive Sales after Weak July Data
Chinese electric vehicle (EV) manufacturer Li Auto has been facing a challenging period lately, with its July deliveries falling by 39.7% year-over-year (YoY). However, the company is optimistic about reviving its sales growth with the launch of its new SUVs, the Li L8 and Li L6. In this blog post, we’ll delve into Li Auto’s plans to boost its sales and what the market is saying about its prospects.
Li L8: A Relaunched SUV with a New Price
The Li L8, a compact SUV, was initially launched in June but received a muted response from the market. Li Auto is now relaunching the vehicle with a new price tag of 321,800 yuan, which is around $46,000 USD. The L8 is expected to arrive in dealerships on August 20, with the company planning to deliver over 10,000 units by China’s National Day holiday on October 1-8.
Li L6: The Upcoming Mid-Size SUV
Li Auto is also gearing up for the launch of its mid-size SUV, the Li L6, which is expected to hit the market soon. The L6 will join the L8 in the company’s SUV lineup, offering a larger and more premium alternative to the L8. With a more competitive price tag, the L6 is likely to appeal to a broader range of customers.
Reviving Sales Growth
Li Auto’s July deliveries were a major disappointment, with the company’s sales falling by 39.7% YoY. However, the company is betting on the L8 and L6 to revive its sales growth. Li Auto has set a goal of delivering over 10,000 Li L8 units by the end of September, with the National Day holiday push expected to contribute significantly to the target.
Retail Sentiment Remains Bullish
Despite Li Auto’s weak July sales data, retail sentiment remains bullish. Many analysts believe that the company’s new SUVs will help restore growth, driven by their competitive pricing and improved features. The relaunch of the L8 and the upcoming launch of the L6 are expected to attract new customers and boost sales.
Challenges Ahead
While Li Auto’s new SUVs are expected to drive growth, the company still faces significant challenges. The Chinese EV market is highly competitive, with many established players vying for market share. Additionally, the company’s weak July sales data has raised concerns about its ability to meet its delivery targets.
Conclusion
Li Auto’s plans to deliver over 10,000 Li L8 units by the end of September and its upcoming launch of the Li L6 SUV are aimed at reviving its sales growth. While the company faces challenges, retail sentiment remains bullish, and many analysts believe that its new SUVs will help restore growth. As the EV market continues to evolve, Li Auto will need to remain competitive and innovative to meet the changing needs of its customers.
Source:
