- The stock price of Xpeng Inc (NYSE: XPEV) increased by over 8% during intraday trading. This is why it happened.
The stock price of leading Chinese smart electric vehicle company Xpeng Inc (NYSE: XPEV) increased by over 8% during intraday trading. Investors are responding positively to XPeng announcing its vehicle delivery results for July 2021.
For this month, XPeng had recorded its highest-ever monthly deliveries of 8,040 Smart EVs, representing a 228% increase year-over-year, and a 22% increase over last month. The deliveries in July consisted of 6,054 P7s (the company’s sports smart sedan) and 1,986 G3s (the company’s smart compact SUV). As of July 31, 2021, the year-to-date total deliveries of the company reached 38,778 units, representing a 388% increase year-over-year.
The P7 deliveries continued record-breaking momentum in July, reflecting the P7’s rising popularity among China’s tech-savvy consumers. And in July 2021, at its first-year anniversary of customer deliveries, total P7 deliveries reach 40,612 since the launch. The P7’s Navigation Guided Pilot (NGP) highway solutions continuously increase appeal to a wider customer base, underpinning Xpeng’s commitment to technology innovation. Xpeng further expanded its product portfolio in July by launching the G3i, the G3 SUV’s mid-phase facelift version with deliveries expected in September 2021.
Last month, XPeng also announced the presale price range of RMB160,000 – RMB230,000 (post subsidies) for its third production model the P5 family-friendly smart sedan. And being the world’s first mass-produced Smart EV equipped with auto-grade LiDAR technology, the P5 is already generating positive responses from consumers in the presale phase. Xpeng plans to launch the P5 in the third quarter 2021 with deliveries expected in the fourth quarter 2021.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.