BYDDY - Li Auto: A Slow Start To A Challenging 2024
2024-05-18 11:26:34 ET
Summary
- Li Auto will announce first-quarter results on Monday, after a slow start to the year in terms of deliveries.
- Demand for the newer Li L6 and Li MEGA models was lower than expected due to a price war in the EV market and macroeconomic factors.
- A softer macroeconomic backdrop will pose a challenge for Li Auto, which generally sells more to the upmarket sector in China.
- Because of the current headwinds, we expect first-quarter results to come in sluggish, and eyes will be on what the second half of 2024 will bring.
After an eventful quarter, both in terms of macroeconomic developments in China and new developments in the Chinese EV market, Li Auto Inc (NASDAQ: LI ) will report first-quarter results on Monday. Since our last coverage of the maker of extended-range electric vehicles ((EREV)) and battery-electric vehicles ((BEV)) in February, the stock has fallen 14.29% from $30.26 to $25.89, despite first rising to $46 after excellent fourth-quarter results ....
Li Auto: A Slow Start To A Challenging 2024