Li Auto Stock Drops 2% Amidst Sixth Consecutive Month of Annual Declines in Deliveries

Li Auto shares fell 2% after reporting a 32% YoY decline in November deliveries, marking the sixth consecutive month of annual declines. The Chinese EV maker is counting on expanded production for its Li L6 SUV in early 2023 to regain momentum. Goldman Sachs lowered its price target to $27 but maintained a Buy rating, citing margin pressures and recall costs. Despite this, the stock trades near a 52-week low, suggesting potential upside if production challenges ease.