Li Auto Inc. (NASDAQ:LI) plunged over around 4% in early trading session on Thursday after it released that the Company delivered 4,571 vehicles in August 2022. The firm’s cumulative deliveries hit to reach 199,484 as of the end of August.
The co-founder and president of Li Auto, Yanan Shen stated that they are happy to have commenced deliveries of their flagship smart SUV, Li L9, and to have heard from Li L9’s initial users that it surpassed their anticipations. They are now getting ready for the early November introduction of Li L8, with deliveries starting that same month. A spacious, luxurious smart SUV for families is the Li L8. In order to extensively cater to various family groupings, the vehicle will be offered in two variants: a six-seater and a VIP five-seater.
The firm had 265 retail stores in 118 cities in August 31, 2022 and 316 servicing centers and Li Auto-authorized body and paint shops operating in 226 cities. Wall Street predicted Li Auto will report a net loss of 2 cents per share on $1.4 billion in sales in the second quarter, according to FactSet. The company is also forecasting revenue to be around $1.34 billion-$1.43 billion in Q3. This is well below the $2.1 billion in total sales FactSet analysts have predicted.
When Li Auto unveiled its new L9 model SUV in June, 30,000 orders were placed within the first 72 hours of the vehicle’s availability. Deliveries are anticipated to start later this month, with 10,000 deliveries anticipated for September, according to the company’s forecasts.
The chief executive officer of Li Auto, Mr. Xiang Li commented that they delivered solid Q2 results in an environment with challenges and uncertainties concluded operational and product excellence. Their cars kept attracting families, demonstrating the power of their product and the expanding popularity of their brand while also confirming the success of our plan.
Mark Watkins write about Market Movers, as he is a big interest in stock trends. He has worked in business and finance for many years and now contributes to the field as a writer.
Mark worked as an independent adviser. He has 10 years’ experience in this field. He is very attracted to the hardest market’s cycles which can scary off any average investor. His strategy usually includes years of practice, theory, experience. Mark is a prominent financial adviser. His main specialty is providing portfolio strategies, long and short equity prognosis. When he is working on creating portfolio, His main goal is to achieve positive results as quickly as it is possible.
Address: 1839 Pride Avenue, OTTAWA LAKE, Michigan
Email: [email protected]