Xi Niu Cai Jing·2025-12-01 11:32Core Insights - Li Auto is facing significant challenges with a notable decline in vehicle deliveries, with October figures showing a year-on-year drop of 38.25% and a month-on-month decrease of 6.43% [2] - The company has adjusted its warranty policy, now offering a 5-year or 100,000 km overall warranty and an 8-year or 160,000 km warranty for the three electric systems [2] - The decline in sales is attributed to the fading benefits of range-extended vehicles and setbacks in the pure electric vehicle segment [2][3] Sales Performance - In October, Li Auto delivered 31,767 vehicles, marking a 38.25% year-on-year decline and a 6.43% month-on-month decline, making it the only brand in the top tier to experience negative growth [2] - Cumulatively, the company delivered 328,900 vehicles in the first ten months of the year, reflecting a 16.36% year-on-year decline, with a completion rate of only 51.4% of its annual sales target [2] Product Challenges - The launch of the first pure electric MPV, Li MEGA, faced criticism due to its design and pricing, leading to a public relations crisis despite adjustments in configuration and price [2] - The first pure electric SUV, Li i8, also encountered issues, including a controversial incident during its launch event, resulting in a significant gap between actual sales (5,716 units in September) and the target of 8,000 to 10,000 units [3] - The second pure electric SUV, Li i6, received positive market feedback with over 70,000 orders, but production capacity constraints pose a challenge for timely delivery [3] Warranty Policy - Li Auto's product line manager stated that the company does not offer a lifetime warranty, emphasizing the impossibility of guaranteeing perpetual company existence [5]