Li Auto's total deliveries in the first five months of this year stood at 162,577 vehicles, down 3.03% from the same period last year.
This decline was largely attributed to fierce domestic market competition, which has been challenging for Chinese electric vehicle makers like Li Auto.
Despite the pressure on overall deliveries, some models remained robust, with monthly deliveries of the Li i6 pure electric SUV exceeding 20,000 units for three consecutive months.
To revive sales momentum, Li Auto launched and commenced deliveries of the updated flagship Li L9 in May, which marked the beginning of the product update cycle for its L-series extended-range SUVs.
The initial market response to the model update appeared positive, with over 10,000 firm orders for the high-end Livis version within just two weeks of its launch.
Following in the footsteps of the Li L9, Li Auto plans to officially launch the all-new five-seat flagship SUV Li L8 in late June, which will abandon the current six-seat design and pivot to focus on the premium five-seat market.
The updated Li L8 will feature larger dimensions and a higher-capacity battery pack, providing optimized rear passenger space for the new five-seat layout and enhancing the overall experience.
Ahead of the new model's launch, Li Auto will host a dedicated technology event in June to showcase its latest capabilities in areas including in-cabin interaction, foundation models, assisted driving, and in-house developed chips.
The company faces severe financial pressure, having unexpectedly recorded a net loss of 2.3 billion yuan ($340 million) in the first quarter of this year, primarily attributed to a fierce market price war.
The company's financial pressure is a major concern for investors and analysts.
