XPeng reports that its electric car sales in April increased by 75% year-over-year to 9,002, which is a pretty solid result, especially considering the current situation in China.
Many carmakers were forced to pause production and noted a decline, as the government applied lockdowns related to COVID outbreaks.
So far, XPeng happened to be one of the least impacted. Nonetheless, XPeng results are lower than the company would like, especially with a substantial order backlog.
"The Company has been and is continuing to actively navigate through the COVID situation, which in turn is affecting the overall supply chain, manufacturing and transportation of automobiles in China. April deliveries reflect the Company’s relentless effort to mitigate the current conditions with support from various authorities and industry partners."
In terms of models, the XPeng P7 noted a 24% increase year-over-year, while the XPeng G3/G3i was down 20%. It means that the main engine of growth happens to be the new XPeng P5.
The overwhelming majority of XPeng sales are in China.
Xpeng sales last month:
- Xpeng P7: 3,714 (up 24% year-over-year)
- XPeng P5: 3,564 (new)
- Xpeng G3/G3i: 1,724 (down 20% year-over-year)
- Total: 9,002 (up 75% year-over-year)
Xpeng EV sales – April 2022
So far this year, XPeng car sales exceeded 43,000 units:
- Xpeng P7: 23,141 (up 111% year-over-year)
- Xpeng P5: 14,050 (new)
- Xpeng G3/G3i: 6,372 (down 15% year-over-year)
- Total: 43,563 (up 136% year-over-year)
Cumulatively, XPeng has sold more than 181,000 electric cars. For reference, NIO is close to 200,000 sales (the 200,000th vehicle has been already produced).
It's difficult to say how long the lockdowns in China will last. According to the company (via CnEVPost), there is a risk that due to supply chain issues, in May, all car companies in China might be forced to temporarily stop production.
It might also affect XPeng's plan to launch its electric in additional European markets (on top of Norway) - like Sweden, the Netherlands and Denmark. Reservations for the XPeng P5 were so far opened in four countries.
Sources: XPeng, CnEVPost