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12h ago

XPeng Reports Record Q1 Growth and Sets Ambitious Q2 Targets

XPeng's Q1 2025 revenue surged 141.5% year-over-year, with 94,008 vehicle deliveries, as the company forecasts further growth despite recent weekly sales fluctuations.

Chinese electric vehicle (EV) maker Xpeng displays its lineup of SUVs and sedans at a company event by the Victoria Harbour in Hong Kong, China April 15, 2025. REUTERS/Brian Thevenot
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Overview

  • XPeng posted Q1 2025 revenue of 15.81 billion yuan, a 141.5% year-over-year increase, exceeding Wall Street expectations, with a gross margin of 15.6%.
  • The company delivered 94,008 vehicles in Q1, surpassing its guidance, and projects Q2 deliveries to reach 102,000–108,000 units, reflecting up to 257.5% year-over-year growth.
  • XPeng forecasts Q2 revenue between 17.5 billion and 18.7 billion yuan, above analysts’ consensus, signaling confidence in its expanding product lineup and market strategies.
  • Weekly domestic registrations for XPeng fell by 15.6% to 5,800 units in mid-May, while Tesla saw a sharp rebound with a 258% weekly sales increase to 11,100 vehicles.
  • XPeng unveiled new models, including the Mona M03 Max and refreshed P7 sedan, and expanded its European footprint to Latvia, Lithuania, and Estonia, aiming to double its global market presence in 2025.