LI Stock Alert: Li Auto Slashes Sales Target as Deliveries Come Up Short

Li Auto (NASDAQ:LI) stock is falling hard on Thursday after the Chinese electric vehicle (EV) company reduced its outlook amid weakening demand.An update from Li Auto reveals that it now expects EV deliveries for the first quarter of 2024 to range from 76,000 to 78,000 units. That’s lower than its previous delivery guidance of 100,000 to 103,000 during the quarter.Li Auto chairman and CEO Xiang Li highlighted a few of the reasons for the delivery outlook decrease. Let’s get into them real quick below!LI Sto ...