XPeng adds EV market share as deliveries soars in Q2

[XPeng Motors electric car retail store with company brand logo]
Robert Way

XPeng (NYSE:XPEV [https://seekingalpha.com/symbol/XPEV]) reported revenue soared 125% in Q2 to RMB18.27 billion ($2.55 billion), as it delivered 103,181 vehicles. The deliveries tally was up 242% from a year ago.

The strong growth was powered by continued demand for the Mona M03 and P7+ sedans, alongside refreshed G6, G9, and X9 models, and the launch of the new G7 SUV. XPeng’s Q2 deliveries fueled its 270% jump in year-to-date volume. Analysts estimated a net loss per share of ¥0.90 (about -$0.11 EPS), showing narrowing losses amid surging sales, with a strong outlook for doubling deliveries in 2025

For Q3, the Chinese electric vehicle maker sees deliveries of between 113,000 and 118,000 units, and revenue landing in a range of RMB19.6 billion and RMB21.0 billion ($2.7 billion and $2.9 billion) to represent growth of 94.0% to 107.9%.

Morgan Stanley analyst Tim Hsiao highlighted that XPeng's (NYSE:XPEV [https://seekingalpha.com/symbol/XPEV]) Q2 vehicle margin rose 3.9 percentage points from Q2 to a record level of 14.3%. The firm kept an Overweight rating on XPeng (NYSE:XPEV [https://seekingalpha.com/symbol/XPEV]) in place.

Third Bridge analyst Rosalie Chen updated that the G7 has outperformed expectations, with deliveries already surpassing 10,000 units. "Priced from RMB 195,800, it stands as one of the most affordable SUV BEVs in its class, giving XPeng a strong value proposition," wrote Chen. Third Bridge also sees the in-house Turing chip, once mass-produced, as a pivotal step in the company’s intelligent driving ambitions. The chip was noted to be designed specifically for XPeng's (XPEV [https://seekingalpha.com/symbol/XPEV]) own requirements, offering targeted optimization over generic industry solutions.

Shares of XPeng (XPEV [https://seekingalpha.com/symbol/XPEV]) were up 0.5% in premarket trading on Tuesday. NIO (NIO [https://seekingalpha.com/symbol/NIO]) showed a 0.8% gain, while Li Auto (LI [https://seekingalpha.com/symbol/LI]) was off 0.3%.

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