Li Auto vs Mitsubishi Motors: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Li Auto Inc (2015.HK)

Q3 202617 Jun – 1 Oct 2026

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Li Auto hit by price war, margin collapse, and record loss

Intensifying competition and price war BYD's cheaper Great Tang SUV and Xiaomi's entry into extended-range SUVs ramped up competition, while an industry launch glut pressured Li Auto's sales and pricing. Domestic H1 sales fell 5% amid the price war.
This competitive pressure was a primary force behind Li Auto's weak sales and margin decline.
Margin collapse and record loss Q2 vehicle margins collapsed to 9.4% from 19.4%, producing a RMB1.7 billion net loss. June deliveries fell 15% year-over-year, and the stock dropped 17% to an all-time low.
This directly explains the sharp deterioration in profitability and the stock's steep decline.
August rebound and new models August deliveries rebounded 32% year-over-year, Q3 guidance reached 100,000 units, and new models—the Li L8, Li i9, and Li L6—plus a RMB2.65 billion battery investment support future growth.
These positive developments provided a counterweight to the negative pressures and supported a potential recovery.
Export demand as partial offset Export demand in the Middle East and Europe offers a partial counterweight to weak domestic sales, though profitability remains severely squeezed.
This highlights an external source of demand that partially offsets domestic weakness.

August 20261 Aug – 1 Oct 2026

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Li Auto: deliveries rebound but margins collapse on price war

August deliveries jump 32% year-over-year Li Auto delivered 32% more vehicles in August than a year earlier, and Q3 guidance points to up to 100,000 units. This shows demand is holding up despite fierce competition.
This is the key new positive demand signal for the period.
Q2 margins collapse to 9.4% and net loss of RMB1.7 billion Vehicle profit margin fell to 9.4% from 19.4% a year earlier, with a RMB1.7 billion net loss. Deliveries fell 11.5% and revenue dropped 15.1%, showing the price war is crushing profitability.
This is the main new negative financial result for the period.
New models and battery investment support future growth Li Auto launched the Li i9 flagship SUV with in-house chip and fast-charging tech, and the Li L6 topped 10,000 units. A RMB2.65 billion investment in Sunwoda's battery unit secures supply and cost control.
These are new strategic moves that could improve competitiveness and costs.
Domestic price war drags sales down 5% in H1 despite export strength China's brutal EV price war pushed domestic sales down 5% in the first half, but strong export demand and expansion into the Middle East and Europe offer a counterweight.
This captures the ongoing competitive pressure and the offsetting export opportunity.

Latest1 Aug – 1 Oct 2026

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Li Auto's Q2 loss and margin collapse overshadow new model launches

Q2 profit collapse: margins crushed, swing to loss Li Auto's Q2 2026 results showed deliveries down 11.5%, revenue down 15.1%, vehicle margin collapsing to 9.4% from 19.4%, and a net loss of RMB1.7 billion. This is a sharp deterioration in profitability, directly weighing on the stock.
This is the single biggest new negative force for the stock, showing the price war is now hitting profits hard.
New flagship Li i9 SUV launched with in-house tech Li Auto launched the Li i9, a six-seat flagship electric SUV starting at RMB369,800, featuring an 800V 5C fast-charging platform, proprietary motors, and the in-house MACH M100 chip. If it sells well, it could revive growth and margins.
This is the main new product bet that could offset the weak financials and drive future sales.
September deliveries 31,817; new Li L6 tops 10,000 Li Auto delivered 31,817 vehicles in September, with over 10,000 units of the new Li L6. It also launched the Li MEGA Home and Li i9 Home, and will debut the Li i6 in Europe at the Paris Motor Show in October. This shows demand is holding up.
Concrete delivery numbers and new model launches show the company is still selling cars and expanding its lineup.
July deliveries 30,468; August exports jump 33% Li Auto delivered 30,468 vehicles in July, a solid number. Meanwhile, China's EV exports rose 33% in August, showing strong overseas demand that could benefit Li Auto as it expands into Central Asia and Europe. But domestic competition remains fierce.
These data points show demand is not collapsing and overseas markets offer a growth outlet, but they are not enough to offset the profit hit.

10 Aug – 14 Sep 2026

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Li Auto's strong deliveries and battery bet offset China EV price war

China EV price war hits Li Auto's domestic sales China's EV market is in a brutal price war with oversupply and weak demand. Li Auto's domestic sales fell 5% in the first half, showing the whole industry is struggling. This pressures Li Auto's sales and profits, pushing the stock down.
Explains the main negative force on Li Auto's sales and profitability.
Q2 revenue beat and Q3 delivery guidance up to 100K Li Auto reported Q2 revenue above analyst estimates and guided Q3 deliveries up to 100,000 vehicles. This shows the company is selling more cars than expected, which supports the stock price.
Directly shows better-than-expected financial performance and future delivery outlook.
August deliveries jump 32% year-over-year Li Auto delivered 37,679 vehicles in August, up 32% from a year ago. This strong demand shows customers are buying its cars despite the tough market. It also plans new models and Middle East expansion, which could add more growth.
Confirms strong end-customer demand and product momentum.
Li Auto invests 2.65 billion yuan in battery maker Sunwoda Li Auto is investing 2.65 billion yuan to become the second-largest shareholder in Sunwoda's EV battery unit. This helps secure battery supply and control costs, which is good for future profits and the stock price.
Shows a strategic move to strengthen supply chain and cost control.

July 202617 Jun – 16 Jul 2026

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Li Auto hit by price war, margin collapse, and delivery decline

BYD's Great Tang SUV intensifies competition BYD launched the Great Tang SUV, a direct rival to Li Auto's L9, starting at 239,900 yuan with over 150,000 pre-orders. This undercuts Li Auto's premium pricing and pressures its market share in the high-end SUV segment.
New competitive threat directly targets Li Auto's key segment, likely hurting sales and pricing power.
Li Auto launches new Li L8 five-seat SUV Li Auto launched the all-new Li L8 five-seat flagship SUV, with deliveries starting soon. This expands its product lineup and could attract more customers, but it remains to be seen if it can offset broader demand weakness.
New product launch is a potential positive catalyst for future sales, though its impact is uncertain.
June deliveries fall 15% year-over-year Li Auto delivered 30,895 vehicles in June, down 14.8% from a year earlier and 7.4% from May. This indicates weakening demand and contrasts with rivals like Nio, which grew 62.9%.
Directly shows deteriorating sales, a key driver of the stock's decline.
Xiaomi enters extended-range SUV market Xiaomi unveiled its Sky Nomad extended-range SUV series, entering a category popularized by Li Auto. Xiaomi's brand strength and tech focus could lure customers away, adding to competitive pressures.
New competitor in Li Auto's core segment, threatening future market share.
Margin collapse and weak guidance drive stock down 17% Li Auto's vehicle gross margins plunged to 6.1% from 19.8%, and Q2 guidance points to a 10-14.5% delivery decline. The stock hit an all-time low, though analysts still see upside.
Summarizes the financial deterioration and market reaction, central to the stock's recent performance.
Industry-wide rapid product launches hurt demand sustainability Eight automakers held launch events on July 16, with new car models introduced at twice the rate of phones. This creates a 'new car effect death valley,' where demand fades quickly, causing supply chain volatility and asset impairments.
Highlights a structural industry challenge that pressures all automakers, including Li Auto.

17 Jun – 16 Jul 2026

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Li Auto hit by price war, margin collapse, and delivery decline

BYD's Great Tang SUV intensifies competition BYD launched the Great Tang SUV, a direct rival to Li Auto's L9, starting at 239,900 yuan with over 150,000 pre-orders. This undercuts Li Auto's premium pricing and pressures its market share in the high-end SUV segment.
New competitive threat directly targets Li Auto's key segment, likely hurting sales and pricing power.
Li Auto launches new Li L8 five-seat SUV Li Auto launched the all-new Li L8 five-seat flagship SUV, with deliveries starting soon. This expands its product lineup and could attract more customers, but it remains to be seen if it can offset broader demand weakness.
New product launch is a potential positive catalyst for future sales, though its impact is uncertain.
June deliveries fall 15% year-over-year Li Auto delivered 30,895 vehicles in June, down 14.8% from a year earlier and 7.4% from May. This indicates weakening demand and contrasts with rivals like Nio, which grew 62.9%.
Directly shows deteriorating sales, a key driver of the stock's decline.
Xiaomi enters extended-range SUV market Xiaomi unveiled its Sky Nomad extended-range SUV series, entering a category popularized by Li Auto. Xiaomi's brand strength and tech focus could lure customers away, adding to competitive pressures.
New competitor in Li Auto's core segment, threatening future market share.
Margin collapse and weak guidance drive stock down 17% Li Auto's vehicle gross margins plunged to 6.1% from 19.8%, and Q2 guidance points to a 10-14.5% delivery decline. The stock hit an all-time low, though analysts still see upside.
Summarizes the financial deterioration and market reaction, central to the stock's recent performance.
Industry-wide rapid product launches hurt demand sustainability Eight automakers held launch events on July 16, with new car models introduced at twice the rate of phones. This creates a 'new car effect death valley,' where demand fades quickly, causing supply chain volatility and asset impairments.
Highlights a structural industry challenge that pressures all automakers, including Li Auto.

Mitsubishi Motors Corporation (7211.JP)

Q3 20269 Jul – 9 Oct 2026

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Mitsubishi bets on robots and Thai EVs amid quake and US sales drop

Humanoid robot venture Mitsubishi is teaming up with startup Highlanders to build humanoid robots, aiming for 1,000 units a month by the end of 2027. This opens a new growth area beyond cars.
It is a new business direction that could drive future revenue and investor interest.
Thai EV investment and tax break Mitsubishi will invest Bt16bn in Thailand to make electric vehicles, including an electric Pajero. Thailand's new EV tax rules favor local production, which helps Mitsubishi's plans.
This is a major new investment and a supportive policy change for its EV strategy.
Sales gains in Indonesia, but US and Japan weakness Indonesia sales jumped 32% in August, and new models and supply deals lifted volumes. But US sales fell 6.6% in January–September, and July domestic production dropped 10.7%.
It shows both positive and negative sales trends that affect overall performance.
Earthquake and guidance miss The Kumamoto earthquake halted output at Okayama, and full-year guidance disappointed. Japanese long-term rates above 3% could raise auto loan costs, adding pressure.
These are negative events that hurt production and investor confidence.

September 202628 Jul – 9 Oct 2026

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Thailand EV tax boost, new models lift Mitsubishi; US sales and rates weigh

Thailand EV excise tax favors local production Thailand's new EV excise tax rewards local manufacturing, and Mitsubishi is set to benefit with about 50 billion baht in planned Thai investment, including 16 billion from Mitsubishi itself. This supports its Southeast Asia EV hub and long-term sales.
This is a new policy tailwind that directly supports Mitsubishi's Thai EV production plans.
New models and supply deals boost volumes The US Eclipse Sportback EV launches from $37,745, the Pajero returns, and a Honda Triton supply deal plus planned US pickup re-entry should lift volumes. Japan H1 sales gained 5.1% and September rose on new models.
These new product launches and partnerships are fresh developments that can drive future sales growth.
Indonesia sales jump 32% in August Indonesia sales rose 32% in August, with Mitsubishi fourth at 43,753 YTD units. This shows strong momentum in a key Southeast Asian market, helping offset weakness elsewhere.
This is a new regional sales data point that highlights Mitsubishi's competitive position in Indonesia.
US sales fall and rates rise, guidance disappoints US sales fell 6.6% in January–September, Japanese long-term rates above 3% could raise auto loan costs and cool demand, July domestic production dropped 10.7%, and full-year guidance disappointed despite a 91% April–June profit jump.
These are new negative factors that weigh on earnings and investor sentiment.

Latest28 Jul – 9 Oct 2026

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Mitsubishi's new models, US EV launch and Thai investment drive the story

US EV launch: Eclipse Sportback priced and going on sale Mitsubishi's first all-new model under its Momentum 2030 plan, the Eclipse Sportback EV, goes on sale in the US in October from $37,745, with up to 282 miles of range and Tesla Supercharger access. A fresh, competitively priced electric SUV can lift US sales and brand image.
The US EV launch is the period's biggest new product event and directly affects future sales and pricing power.
New Pajero and US pickup return expand the lineup Mitsubishi revived the Pajero SUV after seven years, launching in Japan on December 17 with a 10,000-unit target across three countries. It also plans to re-enter the US pickup market via Nissan and grow its US lineup from four to six vehicles by 2027, supporting volumes.
These are concrete new product plans that broaden Mitsubishi's lineup and sales potential in key markets.
Thailand investment and Honda Triton supply deal Mitsubishi is named among four Japanese automakers planning about 50 billion baht of extra Thai investment by 2030, including 16 billion baht from Mitsubishi. Honda will also buy Mitsubishi's Thai-built Triton pickup from 2028, raising factory use and cutting unit costs.
These deals show Mitsubishi deepening its Thai base and winning outside volume, which supports profits and scale.
Profit jump but US sales fall and output slips April-June net profit jumped 91% to 1.4 billion yen, though full-year guidance stayed below analyst hopes. US sales fell 6.6% in January-September and July domestic production dropped 10.7%, showing demand and supply still uneven.
It gives the fair counterweight: earnings improved but key market sales and production weakened.

1 Sep – 1 Oct 2026

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Mitsubishi Motors gains from Thai EV incentives, strong Indonesia demand, and Japan sales rebound

Thailand's three-tier EV excise tax rewards local production Thailand approved a new EV tax system that gives the lowest tax rate to automakers using high local content and producing key parts domestically. Mitsubishi is among four Japanese automakers with over 50 billion baht of continued investment plans in Thailand through 2029-2030, so it stands to benefit from lower taxes and incentives.
This directly lowers costs and supports Mitsubishi's Thai production and sales, a key market.
Indonesia vehicle sales jump 32% in August; Mitsubishi ranks fourth Indonesia's new vehicle market grew 32% year-on-year in August, with Mitsubishi fourth in year-to-date sales at 43,753 units. The broader market is expanding, especially trucks and EVs, which supports Mitsubishi's sales volume and revenue in a major Southeast Asian market.
Rising demand in Indonesia directly boosts Mitsubishi's unit sales and market position.
Japan new car sales rise 5.1% in first half; Mitsubishi posts September gain Japan's April-September new car sales rose 5.1% to the highest since fiscal 2020, helped by the end of the environmental performance tax. In September, Mitsubishi posted an increase on the strength of new models launched last autumn, supporting its domestic sales and revenue.
Stronger domestic demand lifts Mitsubishi's sales and earnings outlook.
Rising interest rates could pressure auto loans and demand Japan's long-term interest rates climbed above 3%, and Mitsubishi's president noted the impact on auto loans, saying the company is working to mitigate it. Higher borrowing costs can make car loans more expensive, potentially cooling demand, though Mitsubishi's 1 trillion yen growth investment plan remains largely unchanged.
Higher rates could dampen consumer demand and raise funding costs, a real counterweight to positive drivers.

August 20269 Jul – 28 Aug 2026

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Mitsubishi bets on robots and Thai EVs, while quake hits output

Humanoid robot venture with Highlanders Mitsubishi signed a basic agreement with University of Tokyo startup Highlanders to develop and mass-produce humanoid robots, targeting 1,000 units per month by end-2027. It will use idle factory space and its manufacturing know-how. This opens a new growth story beyond cars, supporting the share price.
This is a new, high-impact technology initiative that could add a new revenue stream and improve sentiment.
Bt16bn Thailand EV investment Mitsubishi will invest Bt16bn ($473m) in Thailand by 2030 to build EVs, including an electric Pajero SUV, and evaluate pickup production and exports. This strengthens its Southeast Asia hub against Chinese EV rivals, a positive for long-term sales and scale.
It shows a concrete capital commitment to secure a key market amid rising competition.
Kumamoto earthquake halts Okayama plant A 7.1-magnitude earthquake in Kumamoto disrupted parts supply from Aisin Kyushu, forcing Mitsubishi to suspend some production at its Mizushima plant in Okayama. The impact spread beyond Kyushu, with Toyota and Nissan also halting plants. This is a temporary negative for output and earnings.
It is a new supply shock that directly cuts production and could pressure near-term results.
Honda-Nissan software platform may include Mitsubishi Honda and Nissan are near a deal to share an in-vehicle operating system from 2029, and Mitsubishi may evaluate the platform. If it joins, it could share development costs and speed up software; if not, it risks falling behind on software-defined vehicles.
It is a new potential partnership that could affect Mitsubishi's technology and cost position, but no commitment is made.

9 Jul – 28 Aug 2026

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Mitsubishi bets on robots and Thai EVs, while quake hits output

Humanoid robot venture with Highlanders Mitsubishi signed a basic agreement with University of Tokyo startup Highlanders to develop and mass-produce humanoid robots, targeting 1,000 units per month by end-2027. It will use idle factory space and its manufacturing know-how. This opens a new growth story beyond cars, supporting the share price.
This is a new, high-impact technology initiative that could add a new revenue stream and improve sentiment.
Bt16bn Thailand EV investment Mitsubishi will invest Bt16bn ($473m) in Thailand by 2030 to build EVs, including an electric Pajero SUV, and evaluate pickup production and exports. This strengthens its Southeast Asia hub against Chinese EV rivals, a positive for long-term sales and scale.
It shows a concrete capital commitment to secure a key market amid rising competition.
Kumamoto earthquake halts Okayama plant A 7.1-magnitude earthquake in Kumamoto disrupted parts supply from Aisin Kyushu, forcing Mitsubishi to suspend some production at its Mizushima plant in Okayama. The impact spread beyond Kyushu, with Toyota and Nissan also halting plants. This is a temporary negative for output and earnings.
It is a new supply shock that directly cuts production and could pressure near-term results.
Honda-Nissan software platform may include Mitsubishi Honda and Nissan are near a deal to share an in-vehicle operating system from 2029, and Mitsubishi may evaluate the platform. If it joins, it could share development costs and speed up software; if not, it risks falling behind on software-defined vehicles.
It is a new potential partnership that could affect Mitsubishi's technology and cost position, but no commitment is made.