Li Auto, a leading electric vehicle manufacturer, recently announced that it achieved a record-breaking 152,831 deliveries in the third quarter of 2024. This impressive milestone fell within the company’s guidance range of 145,000 to 155,000 units.
The company is set to release its unaudited financial results for the third quarter before the US markets open on Thursday, October 31. This announcement comes on the heels of Li Auto’s exceptional delivery performance in the past quarter.
Compared to the same period last year, Li Auto’s third-quarter deliveries saw a significant increase of 45.4 percent. Additionally, deliveries surged by 40.75 percent from the previous quarter, showcasing the company’s sustained growth trajectory.
In its second-quarter earnings report released on August 28, Li Auto projected third-quarter revenue to range between RMB 39.4 billion yuan ($5.5 billion) and RMB 42.2 billion yuan. This forecast indicated a year-on-year revenue growth of 13.7 percent to 21.6 percent.
Despite a slight decline in gross margin from the previous quarter, Li Auto’s second-quarter results exceeded analysts’ expectations. The company’s gross margin for the quarter was 19.5 percent, with a vehicle margin of 18.7 percent.
This year has been marked by significant achievements for Li Auto, including record deliveries of 53,709 vehicles in September. The company also celebrated the delivery of its 1 millionth vehicle, a remarkable milestone achieved 58 months after its first delivery.
Li Auto’s product lineup primarily consists of L-series EREVs, such as the Li L6, Li L7, Li L8, and Li L9, all of which are SUVs. The company also launched its first battery electric vehicle, the Li Mega MPV, on March 1.
While Li Auto initially planned to introduce more BEV models in the second half of 2024, the timeline has been pushed back to the first half of next year. The company has not provided updates on the progress of its BEV models in recent months.
Investors and stakeholders can look forward to Li Auto’s earnings conference call on October 31 at 8:00 pm Beijing time. Participants interested in joining the call can register online prior to the scheduled start time.
As Li Auto prepares to unveil its financial results, industry peers Nio, Xpeng, and Zeekr have yet to announce their third-quarter earnings release dates. The electric vehicle sector continues to witness rapid growth and innovation, with companies like Li Auto leading the charge.
With a track record of success and a commitment to sustainable mobility, Li Auto remains a key player in the electric vehicle market. Stay tuned for more updates on the company’s performance and future developments.
