XPEV Earnings: XPeng Stock Soars as Q1 ‘Deliveries Hit a New Historical High’

XPeng (XPEV) stock soared over 6% in pre-market trade after a strong Q1 2025 earnings report. The Chinese EV maker’s Q1 deliveries surged 330.8% year-over-year to 94,008, hitting a new all-time high. CEO Xiaopeng He called it a major win, saying, “Quarterly deliveries hit a new historical high,” positioning the company as the top seller among emerging EV brands.

XPeng Q1 Results Impress Investors

In the first quarter, XPeng reported a sharp 141.5% year-over-year revenue surge, reaching ¥15.8 billion ($2.2 billion). Meanwhile, XPeng narrowed its net loss to ¥660 million in Q1, marking its smallest loss since Q2 2020. This dropped over 50% as compared to the same quarter a year ago. Overall, the growth was fueled by surging vehicle deliveries and strong demand for its smart EV lineup.

Additionally, the company achieved a record gross margin of 15.6%, up 2.7 percentage points from a year ago. The quarterly vehicle margin reached 10.5%, up 5.0 percentage points from the same period in 2024. Notably, the company’s vehicle gross margin has increased for seven consecutive quarters, reflecting its strong focus on cost reduction.

Looking ahead, XPeng projects second-quarter deliveries between 102,000 and 108,000 vehicles, marking a year-over-year rise of roughly 238% to 258%. The company also expects second-quarter revenue to come between ¥17.5 billion and ¥18.7 billion, reflecting strong year-over-year growth of approximately 115.7% to 130.5%.

What Is the Price Target for XPeng?

According to TipRanks, Wall Street has a Moderate Buy consensus rating on XPEV stock, based on six Buys, four Holds, and one Sell assigned in the last three months. The average XPeng stock price target of $24.69 implies a 25.4% upside potential.

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