Li Auto Delivers 33,350 Vehicles in May, AYoY Down 18.4%
Miles Bennett
Li Auto delivered 33,350 vehicles in May, down 18.4% year-on-year — finishing last among China's "NIO, XPeng, Li Auto" trio as its model-transition gap shows up in the numbers.
How bad is 33,350?
May deliveries hit 33,350 units versus 40,856 a year ago — a 18.4% year-on-year drop.
Month-on-month, the figure also slipped 2.2% from April's 34,085.
This means → Li Auto is in the awkward gap between old and new L-series models — the outgoing lineup is fading, and replacements haven't ramped yet.
How did rivals do?
NIO (蔚来) delivered 37,705 units in May, up 62.3% year-on-year and 28.4% month-on-month.
XPeng (小鹏) delivered 32,158 units, up 4% month-on-month.
In plain terms = in the same month, NIO surged, XPeng held steady, and Li Auto fell to last place among the three.
What cards does Li Auto still hold?
The Li i6 has delivered over 20,000 units per month since March — it is the current volume anchor.
The new Li L9 launched and began deliveries in May; orders topped 10,000 within two weeks of listing.
This means → the L-series refresh cycle has just begun. If L9 orders convert steadily, June numbers could rebound.
What does cumulative delivery tell us?
By end of May, Li Auto's all-time cumulative deliveries reached 1,702,792 units — approaching the 1.7-million mark.
This reflects a large installed base, but slowing momentum is the near-term reality.
In plain terms = a deep back catalogue doesn't mean strong current sales — investors are watching whether the bleeding stops next month.
Content is for reference only, not financial advice.