Chinese EV company Xpeng shares surge 13% after forecasting growth in car deliveries

Core Insights - Xpeng's shares experienced a significant increase following the announcement of improved profit margins and a positive outlook for second-quarter deliveries [1][2] - The company reported a vehicle margin of 5.5% in Q1, a notable recovery from a negative 2.5% in the previous quarter, indicating enhanced profitability in car sales [1] - Xpeng forecasts deliveries of 29,000 to 32,000 cars in Q2, representing a year-on-year growth of at least 25% [1] Financial Performance - In Q1, Xpeng delivered 21,821 cars, showing a solid performance in vehicle sales [2] - The company delivered 9,393 cars in April, contributing to its overall delivery figures for the year [2]