XPeng Delivered 9,026 Smart EVs in March 2024, up 29% YoY, It Delivered 21,821 Smart EVs in Q1, up 20% YoY
Portfolio Pulse from Benzinga Newsdesk
XPeng Inc. (NYSE:XPEV), a leading Chinese smart electric vehicle company, reported a significant increase in its Smart EV deliveries for March 2024 and the first quarter of the year. In March, XPENG delivered 9,026 Smart EVs, marking a 99% increase from the previous month and a 29% year-over-year increase. The XPENG X9 was the top-selling all-electric MPV in China for the month. For Q1 2024, the company delivered 21,821 Smart EVs, up 20% from the previous year. Additionally, the monthly active user penetration rate of XNGP in urban driving scenarios reached 82%.
April 01, 2024 | 9:02 am
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XPeng Inc. reported a significant increase in Smart EV deliveries for March 2024 and Q1 2024, with the XPENG X9 maintaining its top-selling position in China. The company also reported an 82% monthly active user penetration rate for its XNGP in urban driving scenarios.
The reported increase in Smart EV deliveries, both monthly and quarterly, indicates strong demand for XPeng's products, particularly the XPENG X9. The significant year-over-year growth and the high penetration rate of XNGP in urban driving scenarios suggest robust performance and adoption of XPeng's technology. These factors are likely to positively influence investor sentiment and could lead to an uptick in XPEV's stock price in the short term.
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