Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today announced its unaudited financial results for the quarter and full year ended December 31, 2023.
Operating Highlights for the Fourth Quarter of 2023 and Full Year 2023
Total deliveries for the fourth quarter of 2023 were 131,805 vehicles, representing a 184.6% year-over-year increase.
Total deliveries for the full year 2023 reached 376,030 vehicles, representing an increase of 182.2% from 133,246 vehicles in 2022.
| FY 2023 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | ||||||
| Deliveries | 376,030 | 131,805 | 105,108 | 86,533 | 52,584 | |||||
| FY 2022 | 2022 Q4 | 2022 Q3 | 2022 Q2 | 2022 Q1 | ||||||
| Deliveries | 133,246 | 46,319 | 26,524 | 28,687 | 31,716 | |||||
As of December 31, 2023, the Company had 467 retail stores covering 140 cities, as well as 360 servicing centers and Li Auto-authorized body and paint shops operating in 209 cities.
Financial Highlights for the Fourth Quarter of 2023
Vehicle sales were RMB40.38 billion (US$5.69 billion) in the fourth quarter of 2023, representing an increase of 133.8% from RMB17.27 billion in the fourth quarter of 2022 and an increase of 20.1% from RMB33.62 billion in the third quarter of 2023.
Vehicle margin2 was 22.7% in the fourth quarter of 2023, compared with 20.0% in the fourth quarter of 2022 and 21.2% in the third quarter of 2023.
Total revenues were RMB41.73 billion (US$5.88 billion) in the fourth quarter of 2023, representing an increase of 136.4% from RMB17.65 billion in the fourth quarter of 2022 and an increase of 20.3% from RMB34.68 billion in the third quarter of 2023.
Gross profit was RMB9.79 billion (US$1.38 billion) in the fourth quarter of 2023, representing an increase of 174.4% from RMB3.57 billion in the fourth quarter of 2022 and an increase of 28.0% from RMB7.64 billion in the third quarter of 2023.
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