China's XPeng EV Deliveries Jump 330%, CEO Cites Margin Improvement For 7 Consecutive Quarters

Chinese EV maker XPeng Inc. XPEV stock gained on Wednesday after reporting its fiscal first-quarter results.

The company reported quarterly sales growth of 141.5% year-on-year to 15.81 billion Chinese yuan ($2.18 billion), topping the analyst consensus estimate of 16.02 billion Chinese yuan.

The Tesla Inc TSLA rival’s quarterly vehicle deliveries increased 330.8% Y/Y to 94,008. 

Also Read: XPeng Unveils New AI-Powered Sports EV With Smart Driving And Luxury Tech

XPeng’s physical sales network had 690 stores, covering 223 cities as of March 31, 2025.

XPeng’s self-operated charging station network reached 2,115 stations as of March 31, 2025. Revenues from vehicle sales increased 159.2% year over year to 14.37 billion Chinese yuan ($1.98 billion) due to higher deliveries.

Gross margin was 15.6% versus 12.9% a year ago. Vehicle margin was 10.5% versus 5.5% a year ago, primarily attributable to the cost reduction and economies of scale driven by the increase in sales volume. 

The EV maker said its gross margin has increased for seven consecutive quarters.

Operating loss for the quarter was 1.04 billion Chinese yuan ($0.14 billion). Adjusted net loss per ADS was 0.45 Chinese yuan. In USD terms, the adjusted EPADS was a loss of 6 cents.

The company held $6.24 billion in cash and equivalents as of March 31, 2025.

Chair and CEO Xiaopeng said, “Despite seasonality for auto sales, our quarterly deliveries hit a new historical high, making us the top-selling automaker among emerging EV companies. Positive market feedback strengthened our confidence in our three-year product cycle. We remain committed to our steadfast long-term growth strategy and continue to launch more blockbuster products.”

Outlook: XPENG projects second-quarter vehicle deliveries between 102,000 and 108,000 units, reflecting a surge of 237.7%-257.5% Y/Y.

The company anticipates revenue of 17.5 billion Chinese yuan to 18.7 billion Chinese yuan, versus the analyst consensus estimate of 16.85 billion Chinese yuan.

Price Action: XPEV shares are up 6.65% at $20.99 premarket at the last check on Wednesday.

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• Tesla’s Chinese Rivals See Huge April Growth, XPeng Surges 273% In Deliveries

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