Deliveries fall 11.5% and Li Auto stays in the red in the second quarter

For April to June 2026, Li Auto reported a net loss of about $251 million, after a profit in the same quarter of 2025, though the deficit was smaller than in Q1. Revenue was 15.1% lower year on year but 11.7% up on the first quarter, from 98,330 deliveries. Gross profit on vehicles recovered to 9.4% of vehicle sales from 6.1% in Q1, well short of the 19.4% a year before. Caixin linked the weaker deliveries to sharper competition and changing buyer demand, and the company guided for 95,000 to 100,000 deliveries in Q3.

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