ET5 also won the Oscarfor Interior design
The post Nio ET5 made the 10 Best Cars list in Xuanyuan Award, the Oscars for Chinese automakers appeared first on CarNewsChina.com.
ET5 also won the Oscarfor Interior design
The post Nio ET5 made the 10 Best Cars list in Xuanyuan Award, the Oscars for Chinese automakers appeared first on CarNewsChina.com.
The sharp decline in gross margin was due to a huge hit of $803 million from inventory provisioning and loss of purchase commitments related to the accelerated phase-out of Li ONE.
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Shen has served as president of Li Auto since November 2015. His last day with the company is expected to be around the end of June 2023.
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Li Auto's fourth-quarter delivery guidance of 45,000 to 48,000 vehicles means it expects to deliver 19,914 to 22,914 vehicles in December.
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"We expect a somewhat messy quarter due to accelerated phase-out of the Li ONE materially hurting margins," Deutsche Bank analyst Edison Yu's team said.
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Li Auto achieved a new record in deliveries
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Li Auto delivered a record 15,034 vehicles in November, a single-month high, according to figures released today.
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Previously released data has shown that Li Auto delivered 26,524 vehicles in the third quarter, below the guidance range of 27,000 to 29,000 vehicles.
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Deliveries of the Li L9 Max are expected to be delayed by one week and the Li L8 Pro by 2-3 weeks.
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