(Li Auto) Li Auto Inc. posted total revenues of RMB7.78 billion or US$1.21 billion in the third quarter of 2021, an increase of 209.7% from the prior year.
The record revenues in the third quarter reflected robust deliveries of Li ONES, which rose 190.0% from the prior year to close the quarter at 25,116.
The company reported total vehicle sales of RMB7.39 billion or US$1.15 billion, an increase of 199.7% from the prior year and 50.6% above the second quarter of 2021.
Overall vehicle margin was 21.1%, an increase from 19.8% posted in the comparable quarter of 2020 and above 18.7% reported in the previous quarter.
The gross margin was 23.3%, up from 19.8% in the prior year and higher than 18.9% in the previous quarter.
Li Auto’s net loss narrowed to RMB21.5 million or US$3.3 million, compared to RMB235.5 million in the prior quarter and RMB106.9 in the prior year.
The company now projects deliveries of between 30,000 and 32,000 in Q4 2021, an increase of 107.4% -121.2% from the prior year’s quarter.
Total revenue is projected at RMB8.82 billion or $1.37 billion in Q4 2021, an increase of 112.7% – 126.9% from the prior year.
2015: HKG is up +4.26%.
