轮到理想打逆风局了

Core Viewpoint - Li Auto is facing significant challenges in the current market, with declining sales and increased competition impacting its growth strategy. The company is at a critical juncture, needing to adapt quickly to maintain its market position [1][3][15]. Financial Performance - In Q2, Li Auto reported revenue of 30.2 billion yuan, a year-on-year decrease of 4.5% [1]. - The company’s gross margin for vehicles remained high at 19.4% in Q2, with expectations to maintain around 19% in Q3 [1]. Sales and Market Competition - The sales of the Li L series are under pressure, with L9 sales dropping below 5,000 units and L6 sales declining from nearly 27,000 units to around 15,000 units [3][7]. - The launch of the Li i8 has not met expectations, and the company anticipates Q3 deliveries of 90,000 to 95,000 vehicles, which is lower than the same period last year [1][2]. Product Strategy and Challenges - Li Auto is currently focusing on maintaining gross margins while facing pressure from competitors like AITO and Xiaomi, which are aggressively targeting its market share [1][6]. - The company is contemplating a pricing strategy for the i6, weighing the option of maintaining a 20% gross margin against a more attractive pricing approach to boost sales volume [8][10]. Organizational and Management Issues - Li Auto has acknowledged internal management challenges, including adjustments to its sales service system that have affected L series sales [7]. - The company is restructuring its sales organization to improve efficiency and customer experience, but the effectiveness of these changes remains to be seen [7][14]. Future Outlook and Strategic Initiatives - Li Auto is preparing for the launch of the i6, with internal sales expectations set at 25,000 to 30,000 units per month [8]. - The company is also investing in self-developed chips and expanding its overseas presence, with plans to enter markets in the Middle East, Central Asia, and Europe by 2025 [11][12]. Marketing and Operational Strategy - The company aims to streamline its product offerings and enhance digital marketing efforts to improve customer engagement and sales conversion [14]. - Li Auto is focusing on reducing SKU numbers and enhancing product quality to provide better value to customers [14].