Li Auto Delivered 31,800 Vehicles in September, Down 6.3% YoY
nashnova research
Li Auto delivered 31,817 vehicles in September, down 6.3% year-on-year and 15.6% month-on-month — a rare double decline that signals a seasonal cool-off, even as cumulative deliveries reach 1.83 million units.
How many did Li Auto actually deliver?
Li Auto (02015.HK) delivered 31,817 units in September, versus 33,951 a year earlier — a 6.28% year-on-year drop.
Compared with August's 37,679 units, September fell 15.56% month-on-month.
This means → monthly deliveries slipped below 32,000 for the first time in recent months, marking a rare YoY-and-MoM double decline.
Why are both comparisons down?
The 6.3% YoY drop indicates September demand was softer than the same month last year.
The 15.6% MoM drop is steeper because August typically includes dealer push to hit targets, inflating the base.
In plain terms = August was artificially high from end-of-month sales pushes; September's pullback, layered on top of weaker overall demand, produced the double dip.
What does the cumulative number tell us?
Through September, Li Auto's cumulative deliveries have reached 1.83 million units.
This reflects that a single soft month has not altered Li Auto's standing as one of China's highest-volume EV start-ups.
In plain terms = one month's miss looks bad in isolation, but zoom out and Li Auto remains among the delivery leaders in China's new-energy vehicle market.
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