Li Auto Inc (NASDAQ: LI) stock has garnered substantial momentum in today’s early trading session. At the latest market check, Li Auto’s stock is trading at $34.91, reflecting a notable increase of 3.25%. This surge in LI stock value coincides with the company’s recent delivery update announcement.
Today, Li Auto (LI) unveiled its delivery figures for October 2023, revealing the dispatch of 40,422 vehicles during that month. The significant delivery growth represents a 302.1% year-over-year increase as the milestone marks the first time that monthly deliveries have exceeded the 40,000 mark. As of the end of October, the cumulative total of Li Auto vehicle deliveries in 2023 has reached 284,647.
Li Auto’s achievement of consistently robust growth over ten consecutive months is truly noteworthy. It underscores the company’s continual enhancement of its operational capabilities across production, sales, and services. Particularly significant is the fact that Li Auto has become the first Chinese emerging new energy automaker to reach this milestone, symbolizing its entry into the next phase of accelerated expansion.
Li Auto has maintained its dominance in the premium SUV segment priced above RMB300,000 for six consecutive months. With that, Li Auto solidified its position as the best-selling premium SUV brand in China. Its Li L series, in particular, continues to enjoy widespread popularity, with the Li L9 ranking first in the full-size SUV market for thirteen consecutive months. Additionally, both the Li L7 and Li L8 have consistently claimed the top two positions in the large SUV market for six consecutive months.
The cumulative deliveries of Li L9 and Li L8 have each surpassed 100,000 units. Furthermore, the upcoming launch of the Li MEGA super flagship 5C BEV model has garnered substantial anticipation, highlighting Li Auto’s potential to establish the best-selling model in the category of vehicles priced above RMB500,000 for multi-generational households in China.
As of October 31, 2023, Li Auto’s retail presence extends to 372 stores in 133 cities, complemented by 315 servicing centers and Li Auto-authorized body and paint shops operating in 210 cities.
