Globenewswireยท2025-05-21 09:30Core Insights - XPeng Inc. reported significant growth in vehicle deliveries and revenues for Q1 2025, achieving a record high in deliveries and a substantial year-over-year revenue increase [2][4][12]. Financial Performance - Total deliveries reached 94,008 vehicles in Q1 2025, a 330.8% increase from 21,821 in Q1 2024 [4]. - Quarterly total revenues were RMB 15.81 billion (US$ 2.18 billion), representing a 141.5% increase year-over-year [3][12]. - Revenues from vehicle sales were RMB 14.37 billion (US$ 1.98 billion), a 159.2% increase from RMB 5.54 billion in Q1 2024 [13]. - Gross margin improved to 15.6%, up from 12.9% in Q1 2024, while vehicle margin increased to 10.5% from 5.5% in the same period [3][17]. - The net loss for Q1 2025 was RMB 0.66 billion (US$ 0.09 billion), a reduction from RMB 1.37 billion in Q1 2024 [25][27]. Operational Highlights - As of March 31, 2025, XPeng operated 690 stores across 223 cities and had a charging station network of 2,115 stations [4]. - The company has made significant improvements in cost reduction, with vehicle gross margin increasing for seven consecutive quarters [7]. Management Commentary - Management expressed confidence in the company's long-term growth strategy, emphasizing the importance of a strong product cycle and global expansion [7]. Recent Developments - In April 2025, XPeng launched the 2025 XPENG X9, featuring Turing AI Smart Driving as standard [11]. - Deliveries in April 2025 totaled 35,045 vehicles, bringing year-to-date total deliveries to 129,053 [10]. Business Outlook - For Q2 2025, XPeng expects deliveries between 102,000 and 108,000, representing a year-over-year increase of approximately 237.7% to 257.5% [33]. - Total revenues are projected to be between RMB 17.5 billion and RMB 18.7 billion, indicating a year-over-year increase of approximately 115.7% to 130.5% [33].