Li Auto delivered 52,584 vehicles in the first quarter, slightly above the lower end of the previous guidance range of 52,000 to 55,000 vehicles.

Li Auto delivered 20,823 vehicles in March, surpassing 20,000 for the second time since last December, according to figures released today.

This represents a 25 percent increase over February's 16,620 vehicles and an 88.72 percent increase over the 11,034 vehicles delivered in the same month last year.

The deliveries are the second highest for a single month since Li Auto's inception, following a record high of 21,233 units in December last year.

Li Auto delivered 52,584 vehicles in the first quarter, up 65.8 percent year-on-year and up 13.53 percent from the fourth quarter of last year.

The company's guidance for first-quarter deliveries when it announced its fourth-quarter earnings on February 27 was 52,000 to 55,000 vehicles, and its revenue guidance for the first quarter was RMB 17.45 billion to RMB 18.45 billion.

The delivery figures announced today mean that Li Auto's deliveries in the first quarter were slightly above the lower end of the previous guidance range.

As of March 31, Li Auto's cumulative deliveries were 309,918 units.

"We have commenced deliveries of Li L7, our five-seat flagship family SUV, and are pleased to hear from its first users that their satisfaction with the vehicle has exceeded their expectation," said Li Xiang, founder, chairman and CEO of Li Auto.

"We are also very excited to see that Li Auto has captured nearly 20% market share in the RMB300,000 to RMB500,000 SUV market in China, and become a brand of choice among premium family SUVs," he said.

Li Auto will begin deliveries in April of the Li L7 Air and Li L8 Air, the lowest-priced versions of the Li L7 and Li L8.

As of March 31, the company had 299 retail stores in 123 cities, as well as 318 service centers and Li Auto-authorized body and paint stores operating in 223 cities.

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