Why Xpeng Stock Is Higher Today

December develop into a appropriate month to be selling classy electric vehicles in China.

What came about

Shares of Chinese language electric-automobile maker Xpeng (NYSE:XPEV) were Trading elevated on Monday after the corporate reported file deliveries in December.

As of 11: 52 a.m. EST, Xpeng’s American depositary shares were up by about 8.7% from Friday’s closing mark.

So what

Xpeng acknowledged that it delivered 5,700 vehicles in December 2020, up from 4,224 in November and an amplify of 326% from December 2019. Of that total, 3,691 were P7 sedans — one other sales file for the mannequin — and a pair of,009 were the corporate’s compact G3 SUVs. 

Since its open in expressionless June, the Xpeng P7 has develop into one thing of a hit product in the upscale-electric-automobile arena of interest that is catered to by opponents Tesla, NIO, and Li Auto in China. Xpeng delivered good over 15,000 P7s in 2020, and fair lately presented a dinky-edition “Flit” version to get particular person hobby. 

A lime-green Xpeng P7 Wing, a sleek electric sedan.

Xpeng’s dinky-edition P7 Flit has Lamborghini-devour “cruise” entrance doors. Image source: Xpeng.

Why develop into Xpeng’s inventory Trading elevated Monday morning? Due to the these are all appropriate numbers. 

Now what

Xpeng is predicted to yarn its fourth-quarter and entire-year financial outcomes to auto traders in mid-February. If the corporate’s sales figures are any indication, the outcomes wants to be appropriate: For the fourth quarter, Xpeng delivered 12,964 vehicles, up 303% year over year and up 51% from Q3 2020. 

For the fats year, Xpeng delivered 27,041 vehicles, up 112% from 2019. 

John Rosevear has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.”>

Read Extra


Please enter your comment!
Please enter your name here