Xi Niu Cai Jing·2025-08-25 10:03Core Viewpoint - Li Auto, once seen as a promising new force in the automotive industry, is now facing multiple crises including plummeting sales, negative public relations, and product issues, leading to a significant decline in market confidence [2][3][5]. Sales Performance - Li Auto revised its annual sales target from 700,000 to 640,000 units, with a year-to-date sales of 234,669 vehicles, reflecting a year-on-year decline of 2.21% [2]. - In July, the company sold 30,731 vehicles, marking a nearly 40% year-on-year drop, which pushed it out of the top three in new energy vehicle sales [2]. - The current completion rate for the revised sales target stands at 36.7%, necessitating an average monthly delivery of over 68,000 vehicles in the second half of the year to meet the goal [2]. Product Issues - The newly launched flagship SUV, Li i8, has faced criticism for high pricing and inadequate features, with approximately 66% of surveyed users deeming its price excessive [3]. - Following its launch, the i8 saw a disappointing conversion rate of only 10% from initial orders, significantly below expectations [3]. - In response to market feedback, Li Auto quickly adjusted the i8's pricing and configuration, consolidating its offerings to a single Max version and reducing the price from 349,800 to 339,800 yuan [3]. Competitive Landscape - The launch of the Lado L90, priced between 265,800 and 299,800 yuan, poses a direct threat to the i8, especially with its battery-as-a-service (BaaS) option lowering the starting price to 179,800 yuan [4]. - The competitive dynamics are further complicated by public exchanges between executives of Li Auto and Lado, indicating a growing rivalry in the market [4]. Public Relations Crisis - A controversial crash test video showcasing the i8's safety features led to significant backlash, with critics arguing that the test was misleading and not representative of real-world conditions [5][6]. - The incident attracted negative media attention, including a critical article from a prominent publication and a segment on CCTV2, which further damaged Li Auto's brand image [5][6]. - Concurrently, Li Auto faced a wave of negative online content, suggesting organized efforts to undermine its reputation, with evidence of paid individuals spreading disparaging remarks about Li Auto owners [6][7]. Industry Context - The situation highlights the prevalence of malicious competitive tactics within the automotive industry, where companies may resort to discrediting rivals through orchestrated negative campaigns [8]. - The challenges faced by Li Auto serve as a cautionary tale for future product launches, emphasizing the need for careful pricing strategies and effective marketing to avoid similar pitfalls [8][9].