Li Auto reported second quarter 2026 total revenues of RMB25.7 billion ($3.78 billion), representing a 15.1% year-over-year decrease primarily due to lower vehicle deliveries and shifts in product mix. While the company posted a non-GAAP net loss of $220.9 million, results showed a sequential recovery in vehicle margins as the company ramped up new models like the L6 and L8 despite intense market competition.
Key Highlights
- Total vehicle deliveries for the second quarter were 98,330 units, an 11.5% decrease year-over-year but a 3.4% sequential increase from the first quarter of 2026.
- Vehicle margin recovered to 9.4% from 6.1% in the first quarter of 2026, though it remains significantly lower than the 19.4% recorded in the same period last year.
- Under its $1.0 billion share repurchase program, the company has repurchased approximately 91.7 million shares for an aggregate $631.5 million as of late August 2026.