XPeng delivered a record 30,895 Smart EVs in November 2024, marking a 54% increase year-over-year.
Quiver AI Summary
XPeng Inc. reported record vehicle deliveries for November 2024, with a total of 30,895 Smart EVs delivered, reflecting a 54% increase year-over-year and a 29% rise from the previous month. The MONA M03 model achieved over 10,000 deliveries for the third month in a row, while the newly launched P7+ surpassed 7,000 deliveries within 23 days. For the first eleven months of 2024, XPeng's total deliveries reached 153,373, marking a 26% increase compared to the same period in 2023. Additionally, the company launched its “door-to-door” ADAS and expanded into the Nepal and UK markets. The XPeng G6 model was recognized as the 2024 Technology Frontrunner of the Year at the Danish Car of the Year awards, further establishing XPeng's presence in international markets.
Potential Positives
- Record-breaking delivery of 30,895 Smart EVs in November 2024, showing a 54% year-over-year growth and a 29% increase from the previous month.
- Delivery of the MONA M03 surpassed 10,000 units for the third consecutive month, indicating strong consumer demand and market acceptance.
- Successful launch of the P7+ with over 7,000 units delivered within 23 days, contributing to overall delivery momentum.
- Expansion into international markets, officially entering Nepal and the UK, showcasing the company's growth strategy and geographical diversification.
Potential Negatives
- While XPENG reported significant year-over-year delivery growth, the company's reliance on specific models like the MONA M03 and P7+ raises concerns about the sustainability of long-term sales, indicating potential vulnerabilities if consumer interest shifts.
- Despite the record delivery numbers, the company admitted to inherent risks and uncertainties affecting future performance, which might deter investor confidence given the fluctuating nature of the EV market.
- The press release highlights XPENG's entry into new international markets, but it does not provide detailed information on the challenges or competition in these regions, which could impact market penetration and overall performance.
FAQ
What were XPeng's delivery numbers for November 2024?
XPeng delivered 30,895 Smart EVs in November 2024, marking a 54% year-over-year increase.
How did the MONA M03 perform in deliveries?
The XPeng MONA M03 surpassed 10,000 deliveries for the third consecutive month since its launch.
What is the significance of the P7+ launch?
The P7+ launch contributed to strong delivery momentum, exceeding 7,000 units within 23 days of its release.
How many Smart EVs has XPeng delivered in 2024?
In the first eleven months of 2024, XPeng delivered 153,373 Smart EVs, a 26% increase from the previous year.
What awards has the XPeng G6 received?
At the 2024 Danish Car of the Year ceremony, the XPeng G6 was awarded the 2024 Technology Frontrunner of the Year title.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$XPEV Hedge Fund Activity
We have seen 86 institutional investors add shares of $XPEV stock to their portfolio, and 109 decrease their positions in their most recent quarter.
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- ALIBABA GROUP HOLDING LTD added 24,659,232 shares (+370.8%) to their portfolio in Q3 2024
- D. E. SHAW & CO., INC. removed 5,155,611 shares (-41.1%) from their portfolio in Q3 2024
- NORGES BANK removed 2,878,181 shares (-100.0%) from their portfolio in Q2 2024
- POINT72 ASSET MANAGEMENT, L.P. added 2,461,216 shares (+inf%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC added 2,210,762 shares (+1530.3%) to their portfolio in Q3 2024
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Full Release
30,895
units delivered in November, up
54
% year-over-year
MONA M03 surpassed 10,000 deliveries for third consecutive month
P7+ launch drives strong delivery momentum
GUANGZHOU, China, Dec. 01, 2024 (GLOBE NEWSWIRE) -- XPeng Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced record-breaking vehicle delivery results for November 2024.
XPENG delivered 30,895 Smart EVs in November 2024, representing growth of 54% year-over-year and 29% over the prior month. Deliveries of XPENG MONA M03 exceeded 10,000 units for the third consecutive month since its launch. After 23 days of launch, deliveries of XPENG P7+ exceeded 7,000 units. For the first eleven months of 2024, XPENG delivered 153,373 Smart EVs, a 26% increase from the same period last year.
In November, XNGP‘s monthly active user penetration rate in urban driving reached 85%. On November 15, 2024, the opening day of Guangzhou Auto Show, XPENG successfully completed testing of the industry's first “door-to-door” ADAS based on a unified software suite, delivering a consistent experience across parking, highways, and urban roads.
Also, in November, XPENG officially entered the Nepal and UK markets. Concurrently, XPENG's flagship model, the G6, has risen to prominence as a high-profile vehicle in international markets. At the prestigious 2024 Danish Car of the Year ceremony, the XPENG G6 was awarded the coveted 2024 Technology Frontrunner of the Year title.
About XPENG
XPENG is a leading Chinese Smart EV company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. Its mission is to drive Smart EV transformation with technology, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPENG develops in-house its full-stack advanced driver-assistance system technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrical/electronic architecture. XPENG is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Silicon Valley, San Diego and Amsterdam. XPENG’s Smart EVs are mainly manufactured at its plants in Zhaoqing and Guangzhou, Guangdong province. For more information, please visit
https://www.xpeng.com/
.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about XPENG’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG’s goals and strategies; XPENG’s expansion plans; XPENG’s future business development, financial condition and results of operations; the trends in, and size of, China’s EV market; XPENG’s expectations regarding demand for, and market acceptance of, its products and services; XPENG’s expectations regarding its relationships with customers, contract manufacturers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG’s filings with the SEC. All information provided in this press release is as of the date of this press release, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts:
For Investor Enquiries:
IR Department
XPeng Inc.
Email:
ir@xiaopeng.com
Jenny Cai
Piacente Financial Communications
Tel: +1 212 481 2050 / +86 10 6508 0677
Email:
xpeng@tpg-ir.com
For Media Enquiries:
PR Department
XPeng Inc.
Email:
pr@xiaopeng.com
Source: XPeng Inc.
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