Li Auto Shares Tumble to Record Low on Weak September Deliveries

Shares of Li Auto Inc. (2015.HK) plunged to a record low in Hong Kong trading on Friday after the electric vehicle manufacturer announced a significant drop in its September deliveries, disappointing investors.

The stock fell more than 4% to close at HK$43.02, its lowest point since listing, following the release of the key performance metrics.

Delivery Data Disappoints

Li Auto reported that it delivered 31,817 vehicles in September, a figure that marked a sharp decline both sequentially and year-over-year. The results represented a return to a negative growth trend after a brief rebound in August.

Key figures from the company's report include:

• A 6.3% decrease in deliveries compared to the same month a year ago.
• A steep 15.6% drop from the 37,679 units delivered in August 2026.

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While the company noted that its new-generation Li L6 model surpassed 10,000 deliveries and that it launched new battery-electric models, these developments were insufficient to offset the negative sentiment from the headline volume miss.

Intensifying Market Pressures

The weak delivery numbers arrive amid a challenging environment for China's EV sector. Intense competition among domestic automakers and slowing consumer spending have created significant headwinds for manufacturers like Li Auto.

In response to the saturated domestic market, Li Auto and several of its peers are pursuing international expansion strategies. However, Friday's market reaction underscores investor concern over near-term demand. The broader market environment provided no support, as Hong Kong's Hang Seng benchmark index also fell sharply during the session.