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Xpeng Stocks Soar on Strong October Sales

On Monday, stocks of Xpeng Inc. soared after the Chinese electric-vehicle maker reported solid sales for October. 

Its Hong-kong listed shares boosted 2.70% to $23.99, supporting its Friday gain of 1.28% to $23.40 per share. 

Accordingly, Xpeng posted 10,138 vehicle deliveries last month, representing a 233.00% year-on-year increase. However, it slightly fell from its September figure of 10,412. 

Still, this record set the second-straight month where the firm exceeded the 10,000-unit mark despite a shortage in semiconductors. 

At the same time, the company announced a total of 66,542 year-to-date deliveries, mirroring a 289.00% gain year-over-year. 

Moreover, October deliveries covered 6,044 Xpeng’s P7 flagship sedan units, contributing 187.00% of the total gain. 

In addition, it delivered 3,657 units of its G3 and G3i sports utility vehicles, hitting a monthly record since its launch in December 2018.

Also, the recent report included 437 units of its P5 sedan, launched in September.

Overall, Xpeng has reflected robust business momentum and customer recognition.

Consequently, it weathered the persisting chip shortage as other automakers and smartphone makers struggled with the worldwide supply constraints. 

Meanwhile, the firm continues to widen its supercharging facilities to accompany the rising customer demand.

How October Chinese EV Deliveries Stack Up?

Aside from Xpeng, rival Nio and Li Auto posted their October car deliveries today. 

Furthermore, deliveries of Nio sharply fell due to supply chain issues and alterations to its manufacturing lines. 

Subsequently, it declined 65.00% to 3,667  vehicle deliveries from September. Conversely, its US-listed shares climbed to 3.63% to $40.84. 

On the other hand, Li Auto announced a 107.20% year-over-year increase to 7,649 units, with its lone model Li ONE.

In addition, its cumulative deliveries reached 62,919, lower than the 70,062 vehicles of Nio. 

However, its Hong Kong-listed stocks lowered to 3.20% to $6.32 per share in the closing trade. 

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