Written by Cláudio Afonso | LinkedIn | X
XPeng reported on Tuesday its third-quarter earnings results posting a record gross margin of 15.3% while the vehicle margin also increased to 8.6%. The net loss was narrowed to 1.53 billion yuan, or $211 million.
In the earnings call that followed the results, the company’s founder and CEO He Xiaopeng revealed that XPeng “plans to launch at least four new models” next year while releasing facelifts for
“In 2025, we plan to launch at least four new models, including super electric vehicles and we’ll also update several existing models. Each of these new and facelift models will be very distinctive in their respective market segments and I look forward to launching more top-selling models that users will love next year,” the chief executive said.
XPeng’s chief separately stated that the company expects to enter 2025 “with tens of thousands of orders,” enabling it to grow delivery volumes in the first quarter of next year “and lay a solid foundation for significant sales growth next year.”
Later in the call, He Xiaopeng noted that he expects the penetration rate of China’s new energy vehicles to “likely rise to over 85%” within the next three years.
“Looking at the industry landscape, I anticipate that between 2025 and 2027, which is upcoming three years, we’ll see a knockout phase in the Chinese automobile industry. The penetration rate of China’s new energy vehicles will likely rise to over 85%, while the integration of AI will lead to the next stage of consolidation of market shares.
For the fourth quarter of 2024, the company expects vehicle deliveries to range between 87,000 and 91,000 units, representing a year-over-year increase of approximately 44.6% to 51.3%.
Given that the company delivered 23,917 units in the first month of the current quarter, XPeng’s guidance implies that the brand expects to deliver between 65,648 and 69,648 vehicles in November and December combined.
Last week, the company’s founder and CEO Xiaopeng He said that monthly production capacity for the Mona M03 model will reach 20,000 units by the Chinese New Year, which takes place between January 28 and February 4.
Written by Cláudio Afonso | LinkedIn | X
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