Li Auto Optimizes Channel Strategy to Reduce Costs and Improve Efficiency

[Channel Adjustment] Li Auto plans to close approximately 100 underperforming stores in the first half of 2026, shifting toward the AutoPark campus store model.

Core Strategic Shift: From "Land Grabbing" to "Per-Store Profitability"

Facing pressure from an 18.81% year-over-year decline in deliveries in 2025 and a net loss of RMB 624 million in Q3, Li Auto is accelerating channel optimization. Although the company clarified that the figure of "closing 100 stores" was a misinterpretation, it has indeed begun adjusting underperforming outlets—primarily by reducing high-rent shopping mall locations in Tier-1 and Tier-2 cities.

Key Metrics: Separating Sales and After-Sales Networks

As of the end of 2025, Li Auto operated 548 retail centers across 159 cities and 561 after-sales service points covering 224 cities. This adjustment does not affect the after-sales network, ensuring uninterrupted service for vehicle owners.

Strategic Foundation: Returning to Business Fundamentals

New energy vehicle (NEV) startups are collectively shifting toward精细化 operations: NIO is integrating multi-brand channels, XPeng is advancing its "Jupiter Plan," and Tesla is scaling back its mall-based stores. Li Auto is leveraging its AutoPark campus stores—which cost only a fraction of traditional mall rents—and integrate sales, delivery, and maintenance functions to enhance per-store efficiency.