Li Auto's first-quarter revenue forecast disappoints expectations

Li Auto Inc. has lowered its first-quarter revenue forecast to between 23.4 billion yuan and 24.7 billion yuan, significantly below analyst expectations of 38.4 billion yuan. Vehicle deliveries are also projected to reach only 93,000 units. The company faces increased competition in China's auto market, particularly from rivals like Aito and BYD. Li Auto is expanding its offerings with new fully electric SUVs, the i8 and i6, set to launch later this year. Despite the disappointing outlook, Li Auto's earnings for late 2024 exceeded expectations due to cost management. The company is also pursuing international expansion, establishing after-sales hubs in several countries and targeting markets in North America and Europe.