Li Auto Inc. Earnings Recaps
Q2 2026
Aug 28, 2026
Li Auto’s shares inched up 1.9% following Q2 results that showed modest sequential recovery but continued year-over-year revenue declines; the market appeared to weigh cautious signs in sales and pricing pressure despite ongoing product refresh and technology upgrades.
Key takeaways
- Q2 total revenues declined 15.1% year-over-year to RMB 25.7 billion, reflecting reduced vehicle deliveries and a lower average selling price.
- Vehicle sales contributed RMB 24.1 billion, down 16.7% year-over-year but up 11.8% quarter-over-quarter, indicating some sequential improvement.
- The company maintained a 50/50 split in sales mix between extended-range electric vehicles (EREV) and battery electric vehicles (BEV), positioning for future growth in both segments.
- Recent technology upgrades include the rollout of proprietary MACH M100 chips and 5C supercharging battery systems, supporting enhanced user experience and ADAS capabilities.
- New model launches are planned for H2 2026, including the Li MEGA and flagship Li i9 BEV SUV, aiming to bolster competitiveness and market share in the premium NEV segment.