Written by Cláudio Afonso | LinkedIn | X
Chinese carmaker XPeng reported its fourth-quarter 2024 financial results on Tuesday and said it expects to deliver over 90,000 electric vehicles in the first quarter of 2025.
In the conference call that followed the results, the company’s founder and CEO He Xiaopeng revealed that orders for the recently launched refreshed models “continue to pile up and have exceeded our expectations.”
“Additionally, the surge in store visits following the new model launches has driven an increase in demand for our entire lineup,” the chief executive added.
Deliveries of the new versions will start later this week, on March 21 as the carmaker works “closely” with its supply chain to ramp up production capacity “ensuring that more customers can receive their vehicles as soon as possible.”
He Xiaopeng said he is “confident” that the company will be able to more than double last year’s deliveries (190,068 units) suggesting 2025 figures might surpass 380,000 units.
XPeng delivered 30,350 vehicles in January and 30,453 vehicles in February while expecting over 30,000 units in March.
“With the launch of more competitive products and ongoing global expansion, I’m confident that XPeng’s total sales in 2025 will more than double that of 2024. This will significantly increase our market share in both the Chinese and global smart EV sectors,” XPeng’s CEO stated during the call.
He Xiaopeng added that “ongoing technology driven cost reductions and economies of scale will help further improve” vehicle margins throughout this year. “This allows us to continue our investment in AI research and development while moving toward profitability in the fourth quarter [of 2025],” he stated.
The company reported a Q4 earnings per share (EPS) loss of 0.73 yuan, beating analyst expectations by 1.43 yuan, as the estimated loss was 2.16 yuan. Quarterly revenue reached 16.11 billion yuan, slightly above the consensus estimate of 16.06 billion yuan.
The company delivered 91,507 in the last three months of 2024 and expects deliveries in Q1 2025 to be between 91,000 and 93,000 — in-line or slightly above quarter over quarter but a jump of 317.0% to 326.2% when compared to the first quarter of 2024.
Earlier this week, the CEO He Xiaopeng said he expects cumulative deliveries of its Mona M03 hatchback coupe to surpass 100,000 units in April. The model has accounted for about half of the carmaker’s sales in recent months.
