Saturday, February 24, 2024
Energy Transition Outlook Report 2023
HomeEV & BatteryXPeng EV Sales Cut In Half In March 2023

XPeng EV Sales Cut In Half In March 2023

XPeng global electric vehicle deliveries continued to decrease in March. Last month, the company delivered 7,002 EVs, which is nearly 55 percent less than a year ago.

That’s the seventh consecutive decrease year-over-year, which is another worrying sign. The only good news appears to be a 17 percent increase compared to February (6,010 units), but February is always a slower month in China.

The overwhelming majority of XPeng sales are in China.

XPeng noted also that 3,030 deliveries fall on the P7 series sedans (the outgoing P7 and the all-new facelifted P7i launched in March). The new P7i might be a turning point for XPeng later this year, but currently, it’s down 67 percent year-over-year (up 32 percent over February).

“The new sports sedan P7i, launched in March for the Chinese market, has generated favorable market reception and its order backlog is gathering strong momentum.”

“The launch of the new P7i also boosted the Company’s store traffic, pushing test drive volume to recent heights. Delivery of the P7i began nationwide in March.”

The remaining 3,972 sales are the G3/G3i, P5 and G9 flagship SUV. The Chinese company does not report the results of individual models anymore.

Xpeng sales last month:

  • Total: 7,002 (down 55% year-over-year)

So far this year, XPeng delivered more than 18,000 electric cars, which is 47 percent less than a year ago.

Xpeng sales year-to-date:

  • Total: 18,230 (down 47% 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 276,940 electric cars (the 200,000th car was delivered to customers in June).

It will be interesting to see whether the new/refreshed models, combined with price cuts in January, and expansion in Europe (G9/P7), will bring better results – beyond 10,000 units per month.

However, we must also remember that even then, it will not solve the profitability issue, which is important for each EV startup. The volume will have to increase.

Meanwhile, XPeng began the rollout of the first phase of XNGP (NGP: Navigation Guided Pilot) driving assist system to XPeng G9 Max and P7i Max customers in Guangzhou, Shenzhen, and Shanghai, and to XPeng P5 P version customers in Shanghai.

RELATED ARTICLES
- Advertisment -
Energy Jobline LinkedIn

Most Popular

Recent Comments