TTM
15.9%
YoY change
−1.84pp
Trough year (2019)
-34.2%
Peak year (2023)
22.2%
Latest annual
18.7%
Gross Margin history chart for Li Auto (LI) from 2019 to 2025
Latest: 18.7%
Gross Margin change chart for Li Auto (LI) from 2019 to 2025
Latest: −1.84pp
Gross Margin history table for Li Auto (LI) from 2019 to 2025
| 2025 | 18.7% | -1.84pp | ||
| 2024 | 20.5% | -1.67pp | ||
| 2023 | 22.2% | +3.09pp | ||
| 2022 | 19.1% | -1.72pp | ||
| 2021 | 20.8% | +5.32pp | ||
| 2020 | 15.5% | +49.76pp | ||
| 2019 | -34.2% | — |
- 202518.7%-1.84pp
- 202420.5%-1.67pp
- 202322.2%+3.09pp
- 202219.1%-1.72pp
- 202120.8%+5.32pp
- 202015.5%+49.76pp
- 2019-34.2%—
Gross Margin values are taken from Li Auto's reported income statements (interim 6-K and annual 20-F filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in CNY as filed.
About Gross Margin at Li Auto (LI)
According to Li Auto's latest reported financial statements, the company's latest reported gross margin is 15.9%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
In 2025, Li Auto (LI) gross margin totalled 18.68% – contracted 1.8 percentage points year-over-year.
The record annual gross margin stands at 22.20%, reached in 2023; the historical low of -34.25% was recorded in 2019.
Li Auto Gross Margin by Year
Li Auto Gross Margin 2025: 18.7%
Li Auto posted gross margin of 18.68% in 2025, contracted 1.8 percentage points from 2024.
Li Auto Gross Margin 2024: 20.5%
In 2024, Li Auto reported gross margin of 20.53%, contracted 1.7 percentage points from 2023.
Li Auto Gross Margin 2023: 22.2%
Li Auto gross margin in 2023 was 22.20%, expanded 3.1 percentage points from 2022. This figure represents the highest annual value in the available history.
Li Auto Gross Margin 2022: 19.1%
2022's gross margin for Li Auto came in at 19.11%, contracted 1.7 percentage points from 2021.
Li Auto Gross Margin 2021: 20.8%
Li Auto gross margin in 2021 was 20.82%.
See more financial history for Li Auto (LI).
Sector peers by Gross Margin
Consumer Cyclical peers of Li Auto (LI), ranked by their latest gross margin
| 100.0% | |
| 57.4% | |
| 56.0% | |
| 50.6% | |
| 39.8% | |
| 33.1% | |
| 31.4% | |
| 19.1% |
- 100.0%
- 57.4%
- 56.0%
- 50.6%
- 39.8%
- 33.1%
- 31.4%
- 19.1%
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