A Li Xiang One hybrid SUV is on show throughout the 18th Guangzhou Worldwide Car Exhibition on November 23, 2020 in Guangzhou, China.
Li Zhihao | Visible China Group | Getty Pictures
BEIJING — Nasdaq-listed Chinese language automaker Li Auto forecast deliveries beneath that of its opponents for the primary quarter.
Li Auto stated late Thursday it anticipated to ship between 10,500 and 11,500 vehicles within the first quarter of the yr, or fewer than 4,000 autos a month. Shares fell 9.8% within the New York buying and selling session amid a broader market sell-off. The inventory shed one other 3.75% in after-hours commerce.
Nio, which competes instantly with Li Auto within the high-end SUV market, has delivered more than 7,000 units in each December and January. The corporate is about to share its newest monetary report on Monday.
Xpeng delivered 5,700 vehicles in December and greater than 6,000 in January.
Though the start-ups’ figures level to speedy progress, they nonetheless pale compared with Tesla. Elon Musk’s electrical automotive company delivered nearly half a million vehicles worldwide final yr, or a mean of greater than 41,000 vehicles a month.
Even with the Lunar New Yr vacation that fell in mid-February this yr, Li Auto’s weak steering is regarding, stated Tu Le, founding father of Beijing-based advisory agency Sino Auto Insights.
He identified that versus the opposite start-ups, the corporate solely has one product, and stated to maintain up it ought to ship at the very least 5,000 to 7,000 autos a month.
Li Auto’s solely car, the Li One, is a hybrid electric vehicle that comes with a gasoline tank for charging the battery.
Analysts have stated the function makes the Li One engaging for Chinese language customers apprehensive about operating out of energy with out entry to a charging station.
Final yr, the Li One ranked among the many prime 10 high-end SUVs offered in China no matter gasoline sort, in keeping with the passenger automotive affiliation. Nonetheless, the corporate stated deliveries fell to 5,379 units in January, down from 6,126 a month earlier.
The corporate reported whole income of 4.15 billion yuan ($635.5 million) for the fourth quarter, up from 2.51 billion yuan within the prior quarter.
Li Auto tasks whole income within the first three months of this yr to fall throughout the efficiency of the final two quarters, with an anticipated vary of two.94 billion yuan to three.22 billion yuan.