It’s a shame that so many financial traders have never even considered China-based electric vehicle manufacturer Li Auto (NASDAQ:LI) stock.
That’s fine, though, as LI stock could be a secret weapon in your portfolio. After all, you’re bound to be impressed with Li Auto’s delivery figures.
Previously, I recommended trying a $1,000 share position in Li Auto. I’m doubling down on that call and raising the stakes today.
LI Stock Investors Should Celebrate This Update
Li Auto’s fans undoubtedly enjoyed the automaker’s Family Tech Day in mid-June. That was when Li Auto touted the “5C super charging network” that the company was starting to “self-build.”
Additionally, Li Auto teased “plans to release commute NOA” (Navigate on Autopilot, a navigation-assisted driving system) to “early bird users” during 2023’s second half.
However, that was just a warm-up compared to Li Auto’s power-packed delivery update for the month of June. If this doesn’t get your engine revved up, nothing will.
For starters, Li Auto delivered 32,575 vehicles in June, up 150.1% year over year. This also marks the first month in which Li Auto surpassed the 30,000-vehicle delivery mark. Furthermore, for this year’s second quarter, Li Auto delivered 86,533 vehicles, up 201.6% year over year.
Li Auto Speeds Ahead of the Competition
To put these figures in context, Li Auto delivered more vehicles in the first half of 2023 than the company delivered in all of 2022. Now, let’s consider how Li Auto’s results compare to those of two well-known rivals.
In the month of June at least, Li Auto put its competitors to shame. Nio delivered 10,707 vehicles for the month, down roughly 17% year over year. Meanwhile, XPeng delivered 8,620 vehicles in June, down 44% compared to the year-earlier month.
But wait – there’s more. Li Auto also kept its stakeholders in the loop with an essential operational update. In particular, Li Auto CEO Xiang Li announced that his company expects to unveil its “super flagship 5C” battery electric vehicle model, Li MEGA, in this year’s fourth quarter.
Moreover, the CEO and his team are “confident” that the Li MEGA “will become a new sales blockbuster in the RMB500,000 and higher price segment.” So, stay tuned for further developments on that front.
Get in the Winner’s Circle With LI Stock
It’s not yet known whether the Li MEGA will be a “blockbuster.” We know, however, that Li Auto trounced Nio and XPeng in June in EV deliveries.
Sure, June is only one month and that’s not enough to establish a long-term trend. Still, it’s a good sign that Li Auto isn’t just producing EVs; the company is also delivering them at a rapid rate. Therefore, now’s a great time to buy LI stock and hold on for an unforgettable ride.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.