Xpeng reports a 33% increase in monthly deliveries
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Shares of Xpeng Inc (NYSE: XPEV) are up 15% on Thursday after the EV maker reported a big increase in deliveries for the month of April.
X9 success is helping Xpeng stock in 2024
The electric vehicles company delivered a total of 9,393 vehicles last month â up a whopping 33% versus last year. Its monthly deliveries came in up 4.0% sequentially as well.
In April, $XPEV delivered 1,959 units of X9 â the ultra smart seven-seater it launched in January. The New York listed firm has now delivered close to 10,000 units of that vehicle to date. Â
X9 is the âtop-selling all-electric MPV in Chinaâ.
The news arrives only days after Xpeng said Mona â its sub-brand of lower priced electric vehicles will launch over the next two to three months as Invezz reported here.
How many vehicles has $XPEV delivered year-to-date?
In total, Xpeng has delivered 31,214 vehicles since the start of 2024 â up some 23% versus the first four months of 2023.
In April, the âmonthly active user penetration rate of XNGP in urban driving scenarios reached 82%â, as per the companyâs press release on Thursday.
Note that $XPEV ended its fourth quarter with a record revenue of about $1.84 billion that translates to a whopping 154% annualised growth. A 10% increase in vehicle margin also helped it significantly narrow its loss in Q4. Â
Wall Street currently has a consensus âoverweightâ rating on Xpeng stock thatâs down nearly 35% for the year at writing.
Watch here: https://www.youtube.com/embed/m5XLy1x7RhQ?feature=oembedThe post Xpeng reports a 33% increase in monthly deliveries appeared first on Invezz
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