- The sales target was lowered primarily due to order intake not being as strong as expected following the launch of the updated Li L6.
- To ensure it achieves full-year profitability this year, Li Auto will exercise moderate cost controls.
Li Auto (NASDAQ: LI) has reportedly lowered its 2025 vehicle sales target, with orders for the updated model not as strong as expected.
The Chinese new energy vehicle (NEV) maker recently adjusted its production target internally to 640,000 units this year, local media 21jingji said in a report yesterday.
Li Auto now has production targets of 520,000 units for its extended-range electric vehicle (EREV) models and 120,000 units for its battery electric vehicle (BEV) models, according to the report.
China’s new car-making brands usually determine production plans by sales volume, meaning that Li Auto has changed its 2025 sales target to 640,000 units, the report noted.
That’s a 60,000-unit, or 8.57 percent, cut from the company’s previous target of 700,000 units.
In a previous report on March 31, 21jingji said Li Auto was targeting sales of 700,000 vehicles this year, including at least 560,000 units of the EREV models and 50,000 units of the all-electric i-series.
The latest adjustments mean a lower sales target for EREVs, and more for BEVs.
The reason for the adjusted production targets is that orders received after the launch of the updated Li L6 did not greatly exceed expectations, the report said, citing an industry source close to Li Auto.
Li Auto’s current model range includes the Li Mega MPV (multi-purpose vehicle), and SUV (sport utility vehicle) models — Li L9, Li L8, Li L7 and Li L6.
The Li Mega is the company’s only BEV at the moment, while the L-series models are all EREVs.
Li Auto announced in late February that its first all-electric SUV, named the Li i8, would be launched in July.
Later in the year, Li Auto would also launch the Li i6, its other all-electric SUV, the company’s management said in a March 14 earnings call.
Li Auto launched the updated Li Mega and began pre-sales of the Li L6 on April 23.
On May 8, the company officially launched the Li L6, as well as updated versions of the Li L7, Li L8, and Li L9.
To ensure it achieves full-year profitability this year, Li Auto will exercise moderate cost controls, 21jingji said in the report yesterday, citing a person familiar with the matter.
Compared with its previous cost budget, Li Auto has lowered some of its budget under the new production target, the person said.
Li Auto delivered 33,939 vehicles in April, with the Li L6, the top-selling Li Auto model, delivering 16,755 vehicles in April, according to data compiled by CnEVPost.
The Li L7 delivered 8,102 vehicles in April, making it the second-highest selling model with a 23.87 percent contribution.
The Li L8 delivered 5,178 vehicles in April, contributing 15.26 percent of the month’s sales.
The Li L9 delivered 3,801 vehicles in April, contributing 11.20 percent of the month’s sales.
The Li i8 measures 5,085 mm in length and will come standard with lithium ternary batteries that supports 5C charging.
