XPeng global electric vehicle deliveries decreased year-over-year once again. The Chinese company reported 7,079 sales in April, which is 21 percent less than a year ago.
Eight consecutive months of decreasing sales (year-over-year) is a really worrying sign, but let's also note a slightly positive one - the volume increased every month this year from 5,218 in January, to 6,010 in February, 7,002 in March, and 7,079 in April.
The overwhelming majority of XPeng sales are in China.
It's difficult to say whether XPeng will finally see a major rebound, but it's something highly needed simply from the business perspective.
The company does not report the results of individual models anymore, so we don't know which model (G3/G3i, P5, P7/P7i, or G9) is selling best.
Xpeng sales last month:
- Total: 7,079 (down 21% year-over-year)
Xpeng EV sales – April 2023
So far this year, XPeng has delivered more than 25,000 electric cars, which is 42 percent less than a year ago.
Xpeng sales year-to-date:
- Total: 25,309 (down 42% year-over-year)
For reference, in 12 months of 2022, XPeng's electric car sales exceeded 120,000 units:
As of March 31, 2023, cumulatively XPeng delivered 284,019 electric cars (the 200,000th car was delivered to customers in June).
Perspectives for growth
According to XPeng, the P7i sports sedan (the new version, launched in March) "continues to gather strong order intake momentum" and the company "is significantly ramping up production." That should increase customer deliveries later this year.
Another thing is the newly unveiled XPeng G6 model, described as the "Ultra Smart Coupe SUV." The model shown at the Auto Shanghai 2023 will enter the market very soon - during the second quarter of 2023, so this or next month.
"The debut generated remarkable enthusiasm among visitors at Auto Shanghai 2023, making the XPENG booth among the most popular at the event. Built on XPENG’s next-generation technology architecture, SEPA2.0, the G6 showcases a series of cutting-edge architectural solutions including autonomous driving, intelligent cabin design, superfast charging and industry-leading vehicle engineering."
Well, with the P7i and G6, XPeng has a chance to increase sales volume and return to 10,000+ units per month. Additional growth should come from Europe, but that depends on the expansion progress.
However, due to the fierce competition and price cuts in China, the next few years might be very challenging.
