XPeng EV Sales Decreased Again In May 2023
XPeng global electric vehicle deliveries in the month of May amounted to 7,506, which is almost 26 percent less than a year ago.
The Chinese EV startup struggles to improve its results and already has nine consecutive months of year-over-year sales decrease. The issues started in late 2022 and were amplified by the price reductions applied by other EV manufacturers (like Tesla).
The overwhelming majority of XPeng sales are in China.
XPeng explains that in May, the delivery volume of the new P7i version (launched in March) increased substantially, compared to April, and that June should be even better, without revealing exact numbers.
Xpeng sales last month:
- Total: 7,506 (down 26% year-over-year)
Xpeng EV sales – May 2023
So far this year, XPeng has delivered more than 32,000 electric cars, which is 39 percent less than a year ago.
Xpeng sales year-to-date:
- Total: 32,815 (down 39% year-over-year)
For reference, in 12 months of 2022, XPeng’s electric car sales exceeded 120,000 units:
As of March 31, 2023, cumulatively XPeng delivered 291,525 electric cars (the 200,000th car was delivered to customers in June).
Gallery: 2023 XPeng G6
The next few months should be crucial for XPeng. The new models potentially might take the brand back to 10,000+ sales per month. It would be a positive sign, although to become profitable, XPeng has to aim higher.
The company offers only a few models – G3/G3i, G9, P5 and P7/P7i – which are soon to be joined by the new G6 “Ultra Smart Coupe SUV” model.
The XPeng G6 is considered a potential competitor to the Tesla Model Y, which sells pretty well in China.
“In May, XPENG invited the media to test drive the G6. Feedback from media on the G6 highlights that the new model has distinct advantages over other EV models in terms of its ADAS capabilities and its 800V platform for fast charging. The Company anticipates the G6 will emerge as one of the most popular, bestselling models in China’s NEV SUV market segment with the RMB200,000 to RMB300,000 price range.”
With a 87.5-kilowatt-hour (kWh) battery and a CLTC range of 469 miles (755 km), the G6 is an interesting proposition in the price range of $28,000 to $42,000 in China.
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