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Home ยป Li Auto Q2 Revenue Exceeds Estimates, Delivers Record Number of Vehicles

Li Auto Q2 Revenue Exceeds Estimates, Delivers Record Number of Vehicles

Li auto

Chinese electric vehicle maker Li Auto just dropped their Q2 earnings, raking in a whopping 28.65 billion RMB ($4.2 billion) in total revenue. That’s a crazy 228.1% increase year-over-year and easily surpasses analysts’ estimates of 27.21 billion RMB.

Li Auto delivered a record 86,500 vehicles in Q2, up 206% from 28,700 vehicles in the same quarter last year. The bulk of those sales came from Li Auto’s L series models, including the larger L7 SUV, sportier L8 coupe and family-friendly L9 minivan (Li Auto L9 Series).

li auto q2 2023 Revenue and Vehicle Deliveries

Li Auto’s auto sales revenue hit 27.97 billion RMB, again crushing estimates of 22.5 billion RMB. And they posted a net profit of 2.71 billion RMB, compared to a 0.17 RMB per share loss in Q2 2021.

“In June, we achieved an important milestone of delivering over 30,000 vehicles in a single month,” said Li Xiang, Chairman and CEO. “These achievements have solidified Li Auto’s position as a preferred luxury brand and laid a solid foundation for achieving our revenue target of over 100 billion RMB in 2023.”

Looking ahead, Li Auto expects to deliver between 100,000-103,000 vehicles in Q3, with projected revenue between 32.33-33.3 billion RMB. That would represent insane 246-256% year-over-year growth compared to Q3 2021.

The Chinese EV market is more competitive than ever, but Li Auto’s investments in R&D, expansion and capabilities seem to be paying off. Can they keep this growth train rolling or will rivals like XPeng and NIO rain on their parade? We’ll find out soon enough!

Related Posts: Li Auto announced first Pure Electric MPV model Li Auto MEGA

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