Li Auto reports Q3 downturn

Li Auto reported Q3 revenues of RMB 27.4 billion, a 36.2% YoY decline, as deliveries fell 39% to 93,211 vehicles, according to its unaudited filing . Recall-related costs reduced gross margin to 16.3% and led to a RMB 624.4 million net loss. The company forecasts 100,000–110,000 deliveries and up to RMB 29.2 billion in revenue for the next quarter.