Latest news with #2025SpringInternationalAutoShow
Business Mayor
21-05-2025
- Automotive
- Business Mayor
Xpeng shares rise, adding to 66% rally after the Chinese EV maker's losses narrowed
An Xpeng booth at the 2025 Spring International Auto Show in Qingdao, Shandong province, China, on March 7, 2025. Cfoto | Future Publishing | Getty Images Xpeng shares jumped as much as 6% in premarket trading in New York, after the Chinese electric vehicle upstart reported first quarter earnings that were ahead of expectations. The stock had pared gains to rise 5.23% at 12:44 p.m. London time. Here's how Xpeng did in the first quarter versus LSEG estimates: Revenue: 15.81 billion Chinese yuan ($2.18 billion), up 141.5% year-on-year and comparing with 15.1 billion yuan expected. 15.81 billion Chinese yuan ($2.18 billion), up 141.5% year-on-year and comparing with 15.1 billion yuan expected. Net loss: 660 million yuan, versus a 1.4 billion yuan loss expected and down from 1.37 billion yuan last year. Xpeng said it anticipates second-quarter revenue will come in between 17.5 billion yuan and 18.7 billion yuan, which was also surpassed consensus estimates. The Guangzhou-headquartered firm also said it expects to deliver between 102,000 and 108,000 of its electric cars in the second quarter of this year, representing a year-over-year increase of around 237.7% to 257.5%. Xpeng delivered 94,008 in the first three months of this year. The company contended with a difficult 2023, when it faced slowing growth and mounting losses because of rising competition in China's electric vehicle market and increasing economic uncertainty in its home market. But the company has been aggressive with new products, launching a mass market car last year and a refreshed version of its flagship X9 in April in 2025, helping to improve its fortunes over the last 18 months or so. That, along with strong deliveries this year, has helped fuel a 66% year-to-date rally in its share price, which has finally helped lift its stock above the $15 per share price that it went public with in 2020. Still, the stock is well off its record high of more than $50 per share hit in October 2021. Xpeng is now facing an even bigger raft of competition from new entrants like Xiaomi and from incumbents like BYD. Still, the company is maintaining momentum. Xpeng delivered 35,045 electric vehicles in April, sustaining its record of putting out more than 30,000 vehicles for the sixth consecutive month. READ SOURCE
Business Mayor
03-05-2025
- Automotive
- Business Mayor
China's Xpeng delivers over 30,000 vehicles for the sixth consecutive month
People visit XPENG booth at 2025 Spring International Auto Show in Qingdao, Shandong province, China, on March 7, 2025. Cfoto | Future Publishing | Getty Images Chinese electric vehicle maker Xpeng delivered 35,045 vehicles in April, sustaining its record of delivering more than 30,000 vehicles for the sixth consecutive month. That represents a 273% year-on-year increase in deliveries. The automaker on April 15 announced the launch of its renewed flagship model, the X9, starting from 359,800 yuan ($49,482). Its competitor Leapmotor surpassed the 40,000-unit mark and delivered 41,039 vehicles in April, close to its 2024 record of 42,517 vehicles delivered in December 2024. Nio delivered 19,269 vehicles for its main brand in April, more than the 10,219 delivered in March. One of its sub-brands, Onvo, delivered 4,400 vehicles in April, marking a decline from the 4,820 vehicles delivered the previous month. The other sub-brand under Nio, Firefly, on April 19 officially launched its namesake model, a compact electric car that starts at 119,800 yuan. The carmaker also announced that deliveries started April 29. Based on CNBC's calculations of publicly available figures, 231 Firefly cars were delivered in April. Industry giant BYD sold 372,615 passenger vehicles in April, reflecting a 45.09% year-on-year increase. It had also reported 79,086 vehicles sold overseas in April, topping its record of 72,723 in March. The EV juggernaut unveiled five new car models at the Shanghai Auto Show, an industry exhibition which ran from April 23 to May 2. Some automakers struggle to boost deliveries Not all automakers' delivery volumes grew from the previous month. Geely-owned Zeekr 's April deliveries fell to 13,727 units, down from 15,422 the previous month. Deliveries also fell 14.7% year on year, based on CNBC's calculations of publicly available numbers. Li Auto delivered 33,939 vehicles in April, down from the 36,674 vehicles delivered the month prior, but still marking a year-on-year growth of 31.6%. Xiaomi delivered over 28,000 vehicles in April, below its record of more than 29,000 the previous month. That comes after the crash of an SU7 vehicle in China on April 2 that left three dead In light of the accident, safety concerns 'took centerstage' at the Shanghai Auto Show this year, Nomura analysts said in a note dated April 28. The note added that companies are 'moving towards embracing more Lidars onto their models.' Lidar, short for light detection and ranging, can help construct maps of the environment, which can be used in driver-assistance systems in vehicles. READ SOURCE
