Xpeng, a leading Chinese electric vehicle (EV) maker, has achieved remarkable success in the fourth quarter of 2024, surpassing its own delivery expectations. The company reported a record-breaking 91,507 car deliveries in the last quarter, exceeding its guidance range of 87,000 to 91,000 units. This achievement marks a significant milestone for Xpeng and demonstrates the growing demand for electric vehicles in the Chinese market.
In December alone, Xpeng delivered 36,695 vehicles, marking its fourth consecutive record month. The strong performance in December was attributed to the popularity of the new Mona M03 and P7+ models, which contributed significantly to the overall sales figures. The Mona M03, in particular, saw over 15,000 units delivered in December, while the P7+ recorded over 10,000 units delivered during the same period.
The strong finish to the year also translated into impressive year-on-year growth, with deliveries for the full year 2024 reaching 190,068 vehicles, a 34.23 percent increase compared to the previous year. Xpeng’s cumulative deliveries since inception now stand at 590,379 vehicles, solidifying its position in the competitive EV market.
The success of Xpeng’s new models, the Mona M03 and P7+, played a crucial role in driving the company’s growth in the fourth quarter. The Mona M03, which was officially launched in August, offers three variants with competitive starting prices, making it an attractive option for budget-conscious consumers. On the other hand, the P7+ represents a mid-to-large-size electric sedan that has garnered significant attention for its advanced features and performance.
Notably, Xpeng made a strategic decision to forego LiDAR technology in the P7+, opting for a vision-only solution similar to Tesla’s smart driving system. This move reflects the company’s commitment to innovation and its willingness to adapt to evolving market trends.
Looking ahead, Xpeng is poised for continued growth in 2025, with CEO setting an optimistic tone for the year ahead. The company expects a potential price war to resume in January, signaling its readiness to compete in a dynamic market environment.
In conclusion, Xpeng’s exceptional performance in the fourth quarter of 2024 highlights its strong position in the EV market and its ability to meet growing consumer demand. With a diverse portfolio of innovative models and a commitment to technological advancement, Xpeng is well-positioned for success in the future.
