Hong Kong Stock Market News | Li Auto falls more than 4% as Li Auto reduces prices by over 30,000 yuan. Sales in the first week of the new year are lower than expected.

Li Auto is currently down more than 4%, as of the time of writing, it has dropped 4.28% to HKD 120.7, with a turnover of HKD 609 million. On the news front, on January 12th, Li Auto launched a New Year promotion for its L7/L8/L9 series. The price reduction ranges from RMB 35,000 to RMB 38,000, with the starting price of the L7 reduced to RMB 286,900, falling below RMB 300,000 for the first time. In addition, there is a RMB 10,000 license plate subsidy in Shanghai, and this promotion will end at the end of January. Furthermore, in March, Li Auto will launch a facelifted L9 and a brand-new MPV model called MEGA. According to Li Auto's official Weibo account, the weekly sales ranking for the first week of 2024 (January 1st to January 7th) showed that Li Auto sold 4,300 vehicles, ranking second among new energy vehicle brands. Wanjie sold 5,900 vehicles, ranking first and surpassing Li Auto by 1,600 units.