Following the announcement that record deliveries were anticipated for December, Li Auto stock (NASDAQ:LI) rose substantially on Friday. Company representatives predicted that December deliveries would reach 20K automobiles during a presentation at the Guangzhou International Automobile Exhibition on Friday.
Li Auto China EV Deliveries
Early in December, Li Auto reported that it had delivered 10,052 automobiles in October 2022, up 31.4% from the previous year. Li Auto delivered 15,034 vehicles in November 2022, a rise of 11.5% from November 2021.
Li Auto then said on December 30 that its December deliveries would “reach” 20,000 units. The EV manufacturer would then be on track to complete more than 45,000 deliveries in the last three months. According to Li Auto, deliveries would range from 45,000 to 48,000 automobiles in the fourth quarter. Additionally, the company anticipates total revenues between $2.32 billion and $2.47 billion, which would represent an increase of more than 50% from the previous year. Li Auto stated that its December deliveries would “reach” 20,000 units on December 30.
Li Auto sold 26,524 hybrid electric vehicles in the third quarter, up 5.6% year over year but down from 28,687 in the second quarter. In July, Li sold 10,422 EVs; in August, 4,571; and in September, 11,531. On the strength of the improvement in September compared to August, the startup outperformed its revised 25,000 Q3 delivery goal.
Li Auto Stock Movement
On Sunday, the manufacturer is expected to formally announce the precise number of deliveries that were made throughout the month. On Friday, the stock of the Beijing-based EV producer increased by 2.36%.
China’s EV companies are preparing to disclose quarterly vehicle deliveries as Covid appears to be spreading across the country and negatively impacting the economy. On Sunday, January 1, figures on December, the fourth quarter, and 2022 deliveries are anticipated to be released by China’s Nio, Li Auto, and XPeng EV firms. Early in January, the BYD automaker, which is funded by Warren Buffett, released its own report.
Despite easing Covid regulations, there have been reports of widespread coronavirus outbreaks across China. As a result of Covid delays, Tesla China and other automakers with Chinese operations have now issued a warning that deliveries and output may suffer.
Analysts also sound the alarm on the car industry generally and the EV category in particular in 2023. With this as a backdrop, 2022 is about to come to an end for Tesla’s Chinese competitors. During market trading on Thursday, China EV stocks angled higher. On Friday, the group experienced a decline in premarket trading.
Featured Image: Megapixl @ RobertWei