Li Auto Inc. shares took a hit on Monday, plummeting 5.7% during the intraday trading session. The sharp decline came after the company reported a further drop in vehicle deliveries for February compared to the previous month.
According to Li Auto's latest delivery figures, the company delivered 26,263 vehicles in February, marking a 29.69% year-over-year increase but a 12.24% decrease from January's 29,927 deliveries. The continued weakness in deliveries at the start of the year has raised concerns among investors about the company's growth prospects.
Li Auto, a leading player in China's electric vehicle market, has been facing increasing competition from domestic and international rivals. The weaker-than-expected delivery numbers suggest that the company may be struggling to maintain its momentum amid intense competition and evolving consumer preferences.
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