Li Auto says Li L6 exceeds 10,000 orders in 72 hours after launch
Li Auto is down 5.8% in pre-market trading on weaker than expected Li L6 sales.
Li Auto's new extended-range electric vehicle (EREV) model, the Li L6, has seen much lower initial acceptance than its flagship SUV, the Li L9, despite a lower price.
The Li L6 received more than 10,000 orders in its first 72 hours of availability, the company said late yesterday on its social media platforms.
To date, the Li L6 has arrived at Li Auto's 480 retail centers in China, the company said.
The Li L6's performance is well below that of Li Auto's Li L9, its flagship SUV and the first model in the L-series launched about 2 years ago, in the same time frame.
Li Auto launched the Li L9 with a starting price of RMB 459,800 (USD63,510).
Three days later, Li Auto announced on Jun 24 that the Li L9 had received over 30,000 orders within 72 hours of the vehicle becoming available for reservation.
Each Li L9 order requires a deposit of RMB 5,000 yuan, which was refundable within a certain period of time, the company announced at the time.
Li Auto launched the Li L6 on Apr 18, offering two trims, Pro and Max, with starting prices of RMB 249,800 and RMB 279,800, respectively.
The Li L6 becomes Li Auto's least expensive model, and its previous cheapest model was the Li L7 with a starting price of RMB 319,800.
Li Auto began accepting orders for the Li L6 at the end of the launch event on the evening of Apr 18, and customers can pay RMB 5,000 to order the model, a deposit that is refundable at any time within seven days.
This is the first time the company has extended the customer hesitation period to seven days, compared to 24 hours previously. Xiaomi which launched its first electric vehicle (EV) model, the SU7, late last month, was the first to offer car buyers a hesitation period of up to seven days.
For a new model, initial orders are an important indicator of acceptance, as orders usually stabilize at a much lower level as the time-limited benefits expire and the buzz dies down.
Li Auto is offering a total of RMB 20,000 in limited-time entitlements to customers who order the Li L6 between Apr 18 and May 5, including RMB 5,000 in discounts, RMB 10,000 worth of option funds, and RMB 5,000 worth of 7-kW AC charging piles and installation services.
Li Auto will begin small-volume deliveries of the Li L6 this week and expects to be able to deliver about 2,000 units in Apr, the company previously said. High-volume deliveries of the model will begin in May.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moo Contributor
Follow me to get useful analysis, learn TA and make profitable trades.
Maximise profit 利润最大化
6595Followers
57Following
23KVisitors
Follow