XPeng reports that its electric car sales in May increased by 78% year-over-year to 10,125, after a 75% increase in April.
The company notes relatively solid results, as most of the industry in China struggles to note any growth during the months affected by COVID-19 lockdowns.
The overwhelming majority of XPeng sales are in China.
In the case of XPeng, the secret lies in an extremely high growth rate in previous months (often around 200% year-over-year). Even after a significant slowdown, the company still expands.
In terms of models, all models contributed to the growth. The all-new XPeng P5 is gradually approaching the volume of P7, but it's too early to say whether it will manage to beat the P7 once the situation normalizes.
Xpeng sales last month:
- Xpeng P7: 4,224 (up 11% year-over-year)
- XPeng P5: 3,686 (new)
- Xpeng G3/G3i: 2,215 (up 17% year-over-year)
- Total: 10,125 (up 78% year-over-year)
Xpeng EV sales – May 2022
So far this year, XPeng car sales exceeded 53,000 units:
- Xpeng P7: 27,365
- Xpeng P5: 17,736
- Xpeng G3/G3i: 8,587
- Total: 53,688 (up 122% year-over-year)
Cumulatively, XPeng has sold more than 191,000 electric cars, including over 127,000 within the past 12 months.
The near-term perspectives for XPeng are good, as the company has resumed double-shift production at its Zhaoqing plant beginning in mid-May. The company explains that supply chains and key manufacturing areas in China started to gradually recover.
Potentially, XPeng should soon return to 15,000+ electric cars per month and go up from there to new highs.
Besides substantial demand for the existing three models, XPeng is also expanding in Europe with new markets (on top of Norway) - like Sweden, the Netherlands and Denmark. Reservations for the XPeng P5 were so far opened in four countries.
The next step will be the XPeng G9 flagship SUV expected later this year.
