Li Auto Delivers 33,350 Vehicles in May as Cumulative Sales Top 1.7 Million

Li Auto (Nasdaq: LI; HKEX: 2015) delivered 33,350 vehicles in May 2026, pushing its cumulative total to 1,702,792 as of May 31. Since March this year, monthly deliveries of the Li i6 have consistently exceeded 20,000 units. May marked a meaningful product milestone too. The Company launched and commenced deliveries of the all-new Li L9, initiating a fresh product update cycle for the Li L series. Within two weeks of its launch, the all-new Li L9 Livis received over 10,000 orders. The numbers confirm Li Auto is holding ground in a highly competitive China EV market, even as its financial margins face pressure.

Monthly Delivery Trend: How May Stacks Up

May’s 33,350 deliveries sit below the recent monthly peaks but land within a consistent operating range.

Month	Deliveries	Cumulative Total
December 2025	44,246	1,540,215
March 2026	41,053	1,635,357
April 2026	34,085	1,669,442
May 2026	33,350	1,702,792

March’s strong delivery number followed the resolution of a production bottleneck, with Li i6 monthly deliveries surpassing 24,000 units that month. The April-to-May dip reflects a transitional period as the company shifts product focus toward the all-new Li L9 launch cycle.

The All-New Li L9: Fresh Cycle, Fast Demand

The Li L9 relaunch is the clearest near-term demand signal for Li Auto in 2026.

The all-new Li L9 Livis debuted at the 2026 Beijing International Automotive Exhibition in April, with its official launch on May 15 fully showcasing the vehicle’s latest advancements in exterior and interior design, chassis and suspension, range extension system, safety, and intelligence. Over 10,000 orders within two weeks of launch is a strong early read. It signals that Li Auto’s L series still carries meaningful brand pull among Chinese premium family SUV buyers.

What Powers the Li i6’s Consistency?

At the NVIDIA GTC 2026 in March, Li Auto unveiled its next-generation autonomous driving foundation model, MindVLA, alongside its 3D ViT Encoder, an architecture that can directly perceive the 3D physical world with unified geometric and semantic understanding. That technology underpins the i6’s sustained demand, positioning it as more than just a range-extended EV in a crowded market. 

Q1 2026 Financials: Volume Holds, Margins Under Pressure

Deliveries tell one part of the story. The Q1 2026 financials, released May 28, tell another.

Total revenues reached RMB23.0 billion ($3.3 billion) in Q1 2026, down 11.4% from RMB25.9 billion in Q1 2025. Vehicle margin fell sharply to 6.1%, compared with 19.8% in Q1 2025. Gross profit dropped 66.0% year-on-year to RMB1.8 billion ($262.1 million).

The margin compression is significant and direct price competition across China’s EV market is intense. Li Auto delivered 95,142 vehicles in Q1 2026, up just 2.5% year-on-year, confirming that volume growth alone is not enough to offset the pricing pressure squeezing margins across the sector.

Network and Infrastructure Footprint

Li Auto’s physical presence in China continues to support its sales pipeline.

• 511 retail stores operating across 160 cities as of April 30, 2026
• 550 servicing centers and Li Auto-authorized shops in 223 cities
• 4,077 supercharging stations equipped with 22,509 charging stalls across China

That infrastructure gives Li Auto a meaningful edge in after-sales service and charging convenience, two factors that increasingly drive repeat purchase decisions in the Chinese premium EV segment.

Key Takeaway

Li Auto’s 1.7 million cumulative deliveries and the Li L9’s 10,000-order two-week debut confirm the brand’s demand resilience. Margin recovery in Q2 2026 is the next critical data point to watch. Track Li Auto’s latest filings and delivery updates at ir.lixiang.com and globenewswire.com.

Disclaimer:

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