Largely in-line with expectation, Li Auto’s Jan-2023 delivery volume rose 23% YoY to 15,141 units, which was better than the estimated sector-wide new energy vehicle (NEV) retail volume’s 2% YoY growth, as per the China Passenger Car Association. On a sequential base, Li Auto’s Jan-2023 delivery volume fell 29% MoM due to oneweek holiday for the China New Year (CNY), above sector-wide 44% MoM volume drop.
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