LI AUTO(US:LI) 3 6 Ke·2025-09-02 00:42Core Viewpoint - The report discusses the anticipated pricing and sales expectations for the Li Auto i6, with internal expectations suggesting a monthly sales target close to 30,000 units, while the supply chain predicts 25,000 units per month. The pricing speculation indicates a potential starting price below 230,000 yuan, which has been refuted by Li Auto's management as inaccurate [1][3][10]. Pricing Expectations - The expected starting price for the Li Auto i6 is speculated to be around 240,000 yuan, based on its features and market positioning [4][10]. - The i6 is expected to be priced lower than the i8 due to differences in size and battery capacity, with estimates suggesting a price difference of approximately 10,000 yuan [5][8]. - The i6 is projected to be at least 60,000 to 80,000 yuan cheaper than the i8, with a likely starting price range between 240,000 and 263,500 yuan to remain competitive against rivals like the Tesla Model Y [10][11]. Product Features and Market Positioning - The i6 will utilize the same electric architecture as the i8 and is expected to include advanced features such as the VLA driver model and upgraded smart cockpit [4][7]. - The i6 will have a battery capacity of 87.3 kWh, with varying ranges of 660 km for the dual-motor version and up to 720 km for the single-motor version, which is competitive but not leading in its segment [7][16]. - The i6 is positioned as a more affordable electric SUV, with expectations of strong market performance, although there are concerns about its ability to attract customers compared to competitors [11][17]. Financial Performance and Market Outlook - Li Auto reported a net profit of 1.1 billion yuan for the second quarter, marking 11 consecutive quarters of profitability, with cash reserves of 106.9 billion yuan, indicating strong financial health [11][14]. - However, the company has projected a significant decline in vehicle deliveries for the third quarter, with expectations of 90,000 to 95,000 units, reflecting a year-on-year decrease of 37.8% to 41.1% [11][14]. - The competitive landscape is challenging, with Li Auto facing pressure from faster-moving competitors, which may impact its market share in the upcoming sales season [14][17].