Why XPeng Shares Are Moving Lower Monday

XPeng XPEV stock is trading lower on Monday after China’s car sales dropped in June.

The Details: China’s car sales decreased by 6.9% in June compared to last year, according to Reuters.

Data from the China Passenger Car Association shows that June is the third consecutive month where Chinese car sales have declined. In April car sales fell 5.8% and in May car sales fell 2.2%.

Of Chinese vehicle sales, electric cars made up a record 48.1% over the prior month. In fact, electric vehicle sales were up 9.9% in June.

In Xpeng’s Vehicle Delivery Results report for June, the company reported a 24% increase year-over-year in smart electric vehicle deliveries. In addition, for the first half of 2024, Xpeng’s smart electric vehicle deliveries were up 26% compared to last year.

How To Buy Xpeng Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in XPeng's case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

Related Link: China’s AI Leader iFlytek Projects $65M Loss Amid Heavy Investments And Rising US Pressure

XPEV Price Action: Xpeng stock is trading 5.28% lower at $7.50 at the time of publication per data from Benzinga Pro.

Image: Koshiro K on Shutterstock