Xpeng Extends Record Streak As Deliveries Jump 470% In January

Chinese EV maker Xpeng Inc – ADR XPEV reported Monday strong deliveries for the month of January, signaling an extension of the sales momentum the company has been witnessing in recent months.

What Happened: Xpeng said it delivered 6,015 vehicles in January, a 470% increase from the same period last year. This also represented a record monthly total, following record numbers in both November and December. Month-over-month, the increase was a more modest 5.53%.

In December, Xpeng delivered a record number of 5,700 vehicles, a 326% increase year-over-year and a 35% increase month-over-month.

Sales of Xpeng's EV sedan model, the P7, came in at 3,710 in January, which is also a record monthly number for the model. The company delivered 2,305 units of its G3 SUV model.

"The record-breaking delivery results reflect the strong market appeal of XPeng's products and services as the Company accelerates its delivery capabilities and launch of new smart features, expanding brand awareness and marketing efforts," Xpeng said in a statement.

Related Link: Why BofA Is Bullish On Chinese EV Manufacturer Xpeng

Why It's Important: Xpeng has been proactive in pushing sales amid intensifying competition and the numbers reflect the efforts.

Earlier this month, the company launched a major over-the-air upgrade for its P7 sedan customers in China, delivering a new version of XPeng's operating system, Xmart OS 2.5.0.

Xmart OS 2.5.0, released to customers on Jan. 26, optimizes over 200 features and adds over 40 new functions, including the navigation assisted highway autonomous driving solution NGP.

The company has begun its international foray, with the export of its G3 SUV to Norway.

Xpeng is also set to launch a new EV sedan with LiDAR technology.

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Photo by Jengtingchen on Wikimedia

The EV maker's shares, which touched an all-time record of $74.49 on Nov. 24, has pulled back from the level. The stock ended Friday's session down 3.95% to $48.18, dragged by news of the voluntary recall of some of its G3 SUVs.

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