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.
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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.