Li Auto Overhauls Sales Network to Revive Volume Amid Market Crunch

Emerging Chinese EV manufacturer Li Auto launched its first mass-production model in December 2019, with cumulative sales surpassing 1.7 million units by May 2026. However, amid intensifying competition in the NEV (new energy vehicle) market, sales fell 18.8% year-on-year to 406,000 units in 2025, and dropped 5.1% year-on-year to 193,000 units for the first half of 2026. Driven by this sales decline, 2025 revenue decreased 22.3% year-on-year to 112.3 billion CNY, causing operating income to plunge from a 7.02 billion CNY profit the previous year into a 520 million CNY deficit.