Li Auto delivered record number of cars in July

7:57 PM August 2, 2021

Li Auto (LI.US) stock jumped more than 4% early in the session after the Chinese electric vehicle maker delivered 8,589 vehicles in July,  a new monthly record. Last month performance represented a 11.4% month-over-month increase from the 7,713 vehicles delivered in June. On a year-over-year basis, the growth was at 251.3%. "By the end of this year, we will launch a series of major OTA upgrades to elevate our product offering to new heights," said Yanan Shen, cofounder and president of Li Auto. Meanwhile its major domestic competitor Nio (NIO.US) delivered 7,931 vehicles in July, bringing the year-to-date total to 49,887 — more cars than all of last year. But last month's figure came in below a monthly record of 8,083 vehicle deliveries in June. Another major player - Xpeng (XPEV.US) announced today a monthly record of 8,040 delivered vehicles.

Li Auto (LI.US) stock launched today's session with a bullish price gap however buyers failed to break above the upper limit of the ascending channel and price pulled back to local support at $34.00. Should break lower occur, then downward move may accelerate towards major support at $31.65 which coincides with 200 SMA (red line) and 23.6 Fibonacci retracement of the last upward wave. Source: xStation5

The content of this report has been created by X-Trade Brokers Dom Maklerski S.A., with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. X-Trade Brokers Dom Maklerski S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.