Li Auto (NASDAQ:LI) shares saw a downturn of over 8% in pre-market today following the company's revised guidance for its Q1 vehicle deliveries. The electric carmaker adjusted its delivery expectations to between 76,000 and 78,000 vehicles, a significant decrease from its previously estimated range of 100,000 to 103,000 units.

This new forecast notably falls short of the analyst predictions, which were around 107,834 vehicles. CEO Xiang Li commented on the challenges faced in March, explaining that the company's operational approach to its Li MEGA model was too ambitious, treating it as if it were in a more advanced phase of scaling than it actually was.