Market Insight | LI AUTO-W drops more than 3% as reports suggest LI AUTO is slowing down its overseas expansion, with deliveries already exceeding 1 million units

LI AUTO-W is now down more than 3%, as of the time of publication, it is down 2.59% to HKD 96.05, with a turnover of HKD 7.9 billion. On the news front, according to a report from Auto Evening, LI AUTO's pace of going global has significantly slowed compared to a year ago. Insiders revealed that LI AUTO's management believes that going global requires more thorough preparation, such as hoping that the overseas models are exclusively designed for local consumers, with certain differences from the versions of models sold in the domestic market. A source close to LI AUTO's sales system stated that LI AUTO's management believes that in a tightening macroeconomic environment and intensifying market competition, LI AUTO needs to focus its resources and primarily target the domestic market. It is worth noting that LI AUTO announced on October 18th that its cumulative delivery volume has exceeded 1 million vehicles, taking only 58 months to achieve this milestone, becoming the first new force brand in China to reach a million deliveries. Previously, LI AUTO disclosed that it delivered 53,709 new vehicles in September, a year-on-year increase of 48.9%; in the third quarter of 2024, it delivered 152,831 vehicles, a year-on-year increase of 45.4%