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Li Auto Stock Slides over 8% After Slashing Q1 Delivery Target

Li Auto on Thursday revised down its delivery outlook for 1Q24, citing lower-than-expected order intake.The electric vehicle manufacturer now anticipates delivering between 76,000 and 78,000 vehicles, a significant reduction from the initial estimate of 100,000 to 103,000 vehicles. Li Auto’s U.S.-listed shares fell over 8% in morning trading.Xiang Li, chairman and CEO of Li Auto, acknowledged operational challenges with Li MEGA and outlined plans to recalibrate the strategy, focusing on core use

Li Auto Stock Slides over 8% After Slashing Q1 Delivery Target

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Li Auto’s U.S.-listed shares fell over 8% in morning trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5d19bf8a7e941bd3816ea9c84eba13c9\" tg-width=\"804\" tg-height=\"627\"/></p><p style=\"text-align: left;\">Xiang Li, chairman and CEO of Li Auto, acknowledged operational challenges with Li MEGA and outlined plans to recalibrate the strategy, focusing on core user groups and cities with stronger purchasing power.</p><p style=\"text-align: left;\">“We put excessive emphasis on sales volume and competition, distracting us from what we excel at—creating value for our users and driving operating efficiency. 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