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Jun 30
Li Auto Q2 2025 Earnings Report
Li Auto reported stable revenues and profitability in Q2 2025 despite a slight year-over-year decline in vehicle sales revenue.
Key Takeaways
Li Auto delivered 111,074 vehicles in Q2 2025, achieving $4.2 billion in revenue and maintaining healthy margins. Net income remained flat year-over-year at $153.1 million, while operating income rose significantly quarter-over-quarter. The company also launched its new BEV model, the Li i8, during the quarter.
Li Auto
Li Auto
Li Auto Revenue by Segment
Li Auto Revenue by Geographic Location
Revenue by Segment
Vehicle Sales Revenue
CapyFin.comOther Sales & Services Revenue
CapyFin.comRevenue by Geographic Location
China Revenue
CapyFin.com Forward Guidance
Li Auto expects Q3 2025 revenue between $3.5B and $3.7B and vehicle deliveries between 90,000 and 95,000, citing a softer demand outlook and ongoing product transitions.
Positive Outlook
- Launch of Li i8, a new six-seat battery electric SUV
- Expansion of charging infrastructure to over 3,000 stations
- Ongoing investment in R&D for BEV and intelligent driving tech
- Healthy gross margin guidance maintained
- Strong balance sheet to support innovation-driven growth
Challenges Ahead
- Revenue guidance indicates 38.8%-42.1% YoY decline
- Vehicle deliveries forecasted to drop over 37% YoY
- Increased cash usage in operations
- Free cash flow remained negative
- Potential challenges with product mix and market conditions
Revenue & Expenses
Visualization of income flow from segment revenue to net income