Tesla Rival XPeng Deliveries Growth Accelerates To 103,181, Margins Expand

Benzinga
2025.08.19 11:10
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Chinese EV maker XPeng (XPEV) reported a 125.3% year-on-year sales growth to 18.27 billion yuan ($2.55 billion) in Q2, exceeding estimates. Vehicle deliveries surged 241.6% to 103,181 units. Gross margin improved to 17.3%, while vehicle margin rose to 14.3%. Despite a quarterly operating loss of 930 million yuan ($130 million), XPeng holds $6.64 billion in cash. The company projects Q3 deliveries between 113,000 and 118,000 units, with anticipated revenues of 19.6 to 21.0 billion yuan. XPeng stock is down 0.15% to $19.87.

Chinese EV maker XPeng XPEV reported its fiscal second-quarter results on Tuesday.

The company reported quarterly sales growth of 125.3% year-on-year (Y/Y) to 18.27 billion Chinese yuan ($2.55 billion), topping the analyst consensus estimate of 17.92 billion Chinese yuan.

The Tesla TSLA rival's quarterly vehicle deliveries increased 241.6% Y/Y to 103,181, up 9.75% from 94,008 in the first quarter.

Also Read: Volkswagen Expands XPeng Partnership To Speed Software Upgrades Across All Car Types

XPeng's physical sales network had 677 stores, covering 224 cities as of June 30, 2025.

XPeng's self-operated charging station network reached 2,348 stations as of June 30, 2025, including 1,304 XPENG S4 and S5 ultra-fast charging stations.

Revenues from vehicle sales increased 147.6% Y/Y to 16.88 billion Chinese yuan ($2.36 billion) due to higher deliveries.

Gross margin was 17.3% versus 14.0% a year ago. Vehicle margin was 14.3% versus 6.4% a year ago, primarily attributable to the cost reduction and improvement in product mix of models.

Operating loss for the quarter was 930 million Chinese yuan ($130 million). Adjusted net loss per ADS was 0.41 Chinese yuan versus the analyst consensus loss estimate of 1.06 Chinese yuan. In USD terms, the adjusted EPADS was a loss of 6 cents.

The company held $6.64 billion in cash and equivalents as of June 30, 2025.

Chairman and CEO Xiaopeng He said the company completed upgrades to its next-generation smart and electrification technology platforms.

Vice Chairman and Co-President Hongdi Brian Gu noted that vehicle margin improved for eight consecutive quarters, climbing 3.8 percentage points sequentially to 14.3%, while overall gross margin reached a record 17.3%.

Outlook

XPENG projects third-quarter vehicle deliveries between 113,000 and 118,000 units, reflecting a surge of 142.8%-153.6% Y/Y.

The company anticipates revenue of 19.6 billion Chinese yuan to 21.0 billion Chinese yuan, versus the analyst consensus estimate of 20.2 billion Chinese yuan.

XPeng stock gained over 68% year-to-date despite intense rivalry from the likes of Tesla and Nio NIO.

Price Action: XPEV stock is trading lower by 0.15% to $19.87 at last check Tuesday.

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