XPeng's Q3 Revenues Increase Y/Y on Strong Delivery Growth

Financial Performance - XPeng Inc. reported a narrowed loss per share of 27 cents for Q3 2024, compared to a loss of 62 cents in the same quarter of 2023 [1] - Total revenues increased to $1.44 billion from$1.17 billion year-over-year, with vehicle sales contributing $1.25 billion, up from$1.08 billion [1] - Revenues from services and others rose to $190 million from$90 million year-over-year [2] - Vehicle margin improved to 8.6% from a negative 6.1% in the same period of 2023, while gross margin increased to 15.3% from a negative 2.7% [2] Operational Highlights - XPeng delivered 46,533 units in Q3 2024, reflecting a 16.3% increase year-over-year [1] - Research and development expenses decreased to $23 million from$180 million year-over-year, while selling, general and administrative expenses remained flat at $230 million [3] - As of September 30, 2024, XPeng's cash and cash equivalents totaled$5.09 billion, up from $5 billion a year earlier [3] Future Outlook - For Q4 2024, XPeng anticipates vehicle deliveries between 59,500 and 63,500, indicating a year-over-year increase of 168-186% [4] - Recent product launches include the XPENG Kunpeng Super Electric System, Turing AI Intelligent Driving System, and the P7+ smart electric fastback sedan [5]