Li Auto’s deliveries reached 20,000, surging to 28,277 vehicles in May

June 5, 2023: Chinese electric automobile startup Li Auto stated that it delivered over twice as many cars versus a year ago.

For a third straight, Li Auto’s deliveries reached 20,000, surging to 28,277 vehicles in May, according to a release on Thursday. That’s up by nearly 146% from a year ago.

In contrast, competitors Nio and Xpeng reported a year-over-year drop in monthly deliveries.

Li Auto varies from the two startups in that its electric cars have a fuel tank for charging the battery and extending the driving field.

That divergence comes as China’s fast-growing electric car market grows more competitive.

On Friday, the average selling price is down by about 10% to 15% across brands, Bank of America Securities’ head of Asia Pacific basic materials, Matty Zhao, said.”

She wishes China’s electric car market to grow by 27% this year to 8.7 million units, with penetration of overall auto sales set to grow to 32% this year, versus 26% last year.

Some brands, such as Xpeng, are trying to compete by selling advanced assisted driving technology.

Xpeng said it had 7,506 electric cars in May, up by a few hundred from April. The company said its P7i sedan saw a “substantial increase” in deliveries.

Last week, the administration said wait times for P7i orders were more than six weeks due to production delays, which they expected would improve in June. In the fourth quarter, the company projected a significant increase in deliveries to more than 20,000 vehicles monthly.

Nio delivered 6,155 cars in May, down from April and a year ago. The company is set to start quarterly earnings on June 9.

Based on Li Auto’s reported and forecast deliveries, the company expects to deliver at least 22,000 vehicles in June.

Those monthly deliveries are still only a fraction of the market compared with industry giants Tesla and BYD.

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Li Auto’s deliveries reached 20,000, surging to 28,277 vehicles in May