Li Auto delivered a record 131,805 vehicles in the fourth quarter, above the upper end of its previous guidance range of 125,000 to 128,000 vehicles.

Li Auto (NASDAQ: LI) delivered a record 50,353 vehicles in December, marking the first time monthly deliveries exceeded the 50,000-unit mark and putting fourth-quarter deliveries above the guidance range.

The deliveries were the ninth consecutive new monthly high, up 137.15 percent from 21,233 units in December 2022 and up 22.72 percent from 41,030 units in November, according to data released today.

Li Auto delivered a record 131,805 vehicles in the fourth quarter, above the upper end of its previous guidance range of 125,000 to 128,000 units. This represents a year-on-year increase of 184.56 percent and a 25.40 percent increase from the third quarter.

The company previously guided fourth-quarter revenue to be in the range of RMB 38.46 billion ($5.4 billion) to RMB 39.38 billion, representing year-on-year growth of 117.9 percent to 123.1 percent.

For the full year 2023, Li Auto delivered 376,030 vehicles, up 182.21 percent year-on-year.

As of December 31, Li Auto's cumulative deliveries since its inception stood at 633,364 vehicles, data monitored by CnEVPost showed.

"Looking ahead into 2024, we will continue to push the limit of growth and strive to become China's best-selling premium auto brand," Li Xiang, founder, chairman and CEO of Li Auto, said.

As of December 31, 2023, the company had 467 retail stores in 140 cities, as well as 360 servicing centers and Li Auto-authorized body and paint shops operating in 209 cities.

Li Auto's three models currently on sale are the Li L7, Li L8, and Li L9, all of which are extended-range electric vehicles (EREVs), essentially plug-in hybrids, targeting a larger market than battery electric vehicle (BEV) models.

The company will officially launch the Li Mega MPV (Multi-Purpose Vehicle) on March 1, a few months later than previously planned in December, signaling the challenges it faces in entering the BEV market.

Li Auto had originally planned to officially launch the seven-seater in December. Cars for test drives of the Li Mega would be available at Li Auto showrooms from January, with deliveries starting in late February, the company said on November 17, the first day of the Guangzhou auto show.

Xpeng's X9 MPV was also unveiled on November 17 and went on pre-sale at a price of RMB 388,000 yuan.

As a comparison, Li Auto did not announce the pre-sale price of the Li Mega, but hinted that the model will be priced between RMB 500,000 and RMB 600,000 yuan.

($1 = RMB 7.0999)

Li Auto delays Li Mega MPV launch to Mar 1