Li Auto, a leading electric vehicle manufacturer, has recently announced increased promotions on its L-series models to prevent a potential short-term sales hit as customers may wait for the upcoming updated models set to launch in May.
The company revealed purchase incentives for its L-series extended-range electric vehicle (EREV) models, available until March 31. These incentives include final payment reductions and 3-year 0-interest financing, providing customers with the opportunity to save up to RMB 38,000 ($5,210) on their purchases.
The L-series EREVs offered by Li Auto include the Li L6, Li L7, Li L8, and Li L9, all of which are SUVs. Additionally, the company also offers a battery electric vehicle (BEV) model, the Li Mega MPV.
Notably, Li Auto had previously introduced a 3-year 0-interest financing program for all models, which was available until December 31 last year. In the latest promotion, final payment reductions have been added, excluding the Li Mega model.
Customers purchasing a Li L6 can enjoy a RMB 10,000 reduction in the final payment, resulting in savings of approximately RMB 25,000 when combined with the 3-year 0-interest financing program. For the Li L7 and Li L8 models, the final payment reduction is RMB 12,000, offering savings of RMB 30,000 and RMB 32,000 respectively with the financing program. The Li L9 model features a final payment reduction of RMB 16,000 and interest savings of RMB 22,000.
In addition to the increased promotions, Li Auto’s Vice President, Liu Jie, announced on Weibo that the company will introduce smart driving edition updates for its L-series models in May. These updates will focus on upgrading the smart driving hardware, including the installation of LiDAR in all variants. Currently, only the highest-priced Max variants come equipped with LiDAR.
As the updated models are expected to go on sale in May, the limited-time purchase incentives for the L-series and Li Mega models, including 3-year 0-interest financing and cash subsidies, will be scaled back. This strategic move aims to maintain sales momentum and drive customer interest in the existing models before the new versions are launched.
Li Auto is set to report its February sales figures tomorrow, following the delivery of 29,927 vehicles in January. Analysts predict that the company may deliver around 28,000 vehicles in February, representing a year-on-year increase of 38 percent.
With the company’s focus on enhancing its product offerings and providing attractive purchase incentives, Li Auto continues to position itself as a key player in the competitive electric vehicle market. Stay tuned for more updates on Li Auto’s latest developments and sales performance.
