Li Auto (LAAOF) Gross Margin (2020 - 2026)
Li Auto (LAAOF) posted Gross Margin of 11.05% for Q2 2026, up 40.45% on a QoQ basis from 7.87% in Q1 2026, and down 901.0% year-over-year from 1.38% in Q2 2025.
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Li Auto (LAAOF) Gross Margin (2020 - 2026) Analysis & Trends
Li Auto has reported Gross Margin for 7 years, with the latest figure at 11.05% in Q2 2026.
- On a quarterly basis, Gross Margin fell 901.0% year-over-year to 11.05% in Q2 2026; TTM through Jun 2026 was 13.54%, a 710.0% decrease from a year earlier, with the FY2025 full-year figure at 18.68%, down 184.0% from the prior year.
- Gross Margin was 11.05% for Q2 2026 at Li Auto, up from 7.87% in the prior quarter.
- The five-year high for Gross Margin was 23.45% in Q4 2023, with the low at 7.87% in Q1 2026.
- Average Gross Margin over 5 years is 18.9%, with a median of 20.32% recorded in 2023.
- The sharpest annual moves came in 2023 and 2026: Gross Margin jumped 939 bps in 2023, then slumped 1265 bps in 2026.
- Over 5 years, Gross Margin stood at 20.21% in 2022, then rose by 16 bps to 23.45% in 2023, then slipped by 14 bps to 20.26% in 2024, then decreased by 12 bps to 17.83% in 2025, then sank by 38 bps to 11.05% in 2026.
- The last three Gross Margin figures came in at 11.05% (Q2 2026), 7.87% (Q1 2026), and 17.83% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,195.18 Bn | 1,151.66 Bn | 4.75 Bn | 16.83% |
| 2 | Toyota Motor | 256.51 Bn | 178.52 Bn | 12.27 Bn | 16.11% |
| 3 | Honda Motor | 125.65 Bn | 85.52 Bn | 8.46 Bn | 22.24% |
| 4 | Ford Motor | 79.38 Bn | 48.05 Bn | 6.08 Bn | 12.59% |
| 5 | General Motors | 75.87 Bn | 51.15 Bn | 7.33 Bn | 15.26% |
| 6 | Rivian Automotive | 21.54 Bn | 16.23 Bn | 179.00 Mn | 10.80% |
| 7 | Nio | 8.66 Bn | 2.33 Bn | 870.51 Mn | 18.38% |
| 8 | VinFast Auto | 7.20 Bn | 7.20 Bn | -677,431.76 Bn | -73.58% |
| 9 | Li Auto | 5.98 Bn | -6.51 Bn | 417.98 Mn | 11.05% |
| 10 | Xpeng | 5.26 Bn | 2.95 Bn | 601.83 Mn | 20.68% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.05% |
| Mar 31, 2026 | 7.87% |
| Dec 31, 2025 | 17.83% |
| Sep 30, 2025 | 16.33% |
| Jun 30, 2025 | 20.06% |
| Mar 31, 2025 | 20.51% |
| Dec 31, 2024 | 20.26% |
| Sep 30, 2024 | 21.52% |
| Jun 30, 2024 | 19.50% |
| Mar 31, 2024 | 20.61% |
| Dec 31, 2023 | 23.45% |
| Sep 30, 2023 | 22.04% |
| Jun 30, 2023 | 21.76% |
| Mar 31, 2023 | 20.39% |
| Dec 31, 2022 | 20.21% |
| Sep 30, 2022 | 12.65% |
| Jun 30, 2022 | 21.51% |
| Mar 31, 2022 | 22.63% |
| Dec 31, 2021 | 22.41% |
| Sep 30, 2021 | 23.30% |