Xpeng Motors revealed that it delivered 20,041 new EVs in November in its announcement on December 1. The sales marked a year-on-year increase of 245% and represented a month-on-month growth of 0.2%.
Sales of Xpeng G6
One of the key contributors to the sales has been the Xpeng G6, a model that has demonstrated significant popularity among consumers, making an enormous contribution to Xpeng’s sales.
Xpeng delivered 8,750 units of the Xpeng G6 this month, accounting for 44% of the company’s. The total sales of Xpeng and Xpeng G6 were almost the same as the previous month. Since its launch, the cumulative delivery volume of the Xpeng G6 has now exceeded 36,000 units.
In the past few months, Xpeng’s performance has begun to rebound. For the third quarter of 2023, the company reported a cumulative delivery volume of 40,008 vehicles. This figure surpassed the 40,000-unit milestone and represented a year-on-year growth rate of 35%. Furthermore, the month-on-month increase for the third quarter was 72%.
Xpeng Motor’s sales growth slowed down compared to the previous period
While Xpeng’s recent performance has been outstanding, it’s essential to recognize that the company faced challenges earlier in 2023. As of the end of this month, the cumulative sales figures for the year showed an 11% increase compared to the same period in the previous year, almost the same as aXpeng’syear. This decline in incremental sales was mainly due to Xpeng’s relatively poor sales performance in the first two quarters of this year
Xpeng’s products have suffered a significant impact in the Chinese market. Part of the impact comes from the new Tesla Model 3, and part comes from products using Huawei technology, such as Aito M7.
In the first three quarters of this year, Xpeng lost 9.03 billion yuan (1.28 billion USD), a loss that expanded 33% year-on-year. Many consumers and investors expressed concerns about Xpeng’s prospects.