Shares of XPeng (NYSE: XPEV) rallied in pre-market trading on Tuesday amid a broader market rally for Chinese stocks even as the Chinese smart electric vehicle (Smart EV) company’s vehicle delivery numbers in October were disappointing.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
XPeng recorded vehicle deliveries of 5,101 Smart EVs in the month of October, down 40% from the month of September and a decline of around 50% year-over-year. The October vehicle deliveries consisted of 2,104 P7s, XPEV’s smart sports sedan, 1,665 P5 smart family sedans, and 709 G3i smart compact SUVs.
As of October 31, XPeng’s year-to-date deliveries reached 103,654, an increase of 56% year-over-year.