Li Auto bets on L8, L6 EVs to revive sales after weak July data
Li Auto, a Chinese electric vehicle (EV) manufacturer, is pinning its hopes on the upcoming L8 and L6 SUVs to revive sales after a disappointing July performance. 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. The move comes as a response to a 39.7% year-over-year (YoY) decline in July deliveries, a worrying trend that has raised concerns about the company’s growth prospects.
The Li L8, priced at 321,800 yuan, is an upgraded version of the company’s previous L7 model. Its relaunch follows a muted debut and online smear allegations, which may have contributed to the vehicle’s slow sales. Despite these challenges, Li Auto remains optimistic about the L8’s prospects, citing strong retail sentiment and a growing demand for EVs in China.
Li Auto’s plans to deliver over 10,000 units of the L8 EV by the end of September are aimed at revitalizing its sales momentum. The company has also set a goal to deliver over 20,000 units of the L6 SUV, which is expected to hit the market soon. The L6, priced at around 300,000 yuan, is expected to be a more competitive offering in the market, with improved features and a more aggressive design.
The company’s efforts to revive sales come at a critical time, as the Chinese EV market is experiencing a slowdown due to government regulations and increasing competition. Li Auto’s July delivery figures, which fell 39.7% YoY, were a major disappointment, sparking concerns about the company’s ability to meet its growth targets.
However, despite the disappointing July data, retail sentiment remains bullish, with many investors and analysts expecting Li Auto to bounce back in the second half of the year. The company’s focus on expanding its product lineup and improving its sales network has also helped to boost investor confidence.
Li Auto’s plans to deliver over 10,000 units of the L8 EV by the end of September are expected to be a major catalyst for the company’s growth. The L8, with its improved features and competitive pricing, is expected to appeal to a wider range of customers, helping Li Auto to regain its momentum in the market.
The company’s efforts to revive sales are also expected to be boosted by the upcoming National Day holiday in China, which is a major shopping spree for many Chinese consumers. Li Auto’s plan to deliver over 10,000 units of the L8 EV by the end of September coincides with the holiday period, providing a significant opportunity for the company to clear its inventory and generate revenue.
In conclusion, Li Auto’s plans to deliver over 10,000 units of the L8 EV by the end of September, along with the upcoming launch of the L6 SUV, are expected to be major catalysts for the company’s growth. Despite the disappointing July delivery figures, retail sentiment remains bullish, and the company’s focus on expanding its product lineup and improving its sales network has helped to boost investor confidence.
