Li Auto Inc (NASDAQ:LI) reported fiscal second-quarter 2024 revenue growth of 10.6% year-on-year to $4.36 billion, marinally missing the analyst consensus of $4.45 billion.
It clocked an adjusted net earnings per ADS of $0.20, which beat the analyst consensus of $0.19.
Vehicle sales increased 8.4% to $4.2 billion, mainly due to the increase in vehicle deliveries. Total vehicle deliveries were 108,581 units in the quarter, a 25.5% year-over-year increase.
The vehicle margin declined by 230 bps year over year to 21.0%, mainly due to changes in product mix and pricing strategy. The gross margin decreased by 230 bps year over year to 21.8%, mainly due to reduced vehicle margin.
Adjusted income from operations was $119.7 ...
