XPeng delivered 36,728 vehicles in November, the first sequential decline in monthly figures since May, as the Chinese carmaker’s growth momentum slows down ahead of year-end.
Last month’s deliveries were 12.6% below October’s 42,013 units, despite a jump of 19% year over year.
The result ended a four-month streak of consecutive monthly records that had pushed XPeng‘s deliveries from 33,525 units in May to October’s peak.
From January through November, the Guangzhou-based brand delivered 391,937 vehicles, up 156% from a year earlier.
The company became the first Chinese automaker to reach its annual goal of 380,000 units a month ahead of schedule, surpassing the target with November’s results.
Overseas deliveries from January through November reached 39,773 units, marking a 95% year-over-year increase as XPeng expands its international footprint across European and Southeast Asian markets.
On November 21, XPeng produced its 1 millionth vehicle, seven years after rolling off the first unit.
The milestone was reached just 14 months after reaching the first 500,000 units.
The strong results year-to-date have been driven by an expanded product lineup and a broader global market presence.
XPeng is on track to double its global markets to 60 countries this year.
Last month, the company entered Colombia — its third market in the Americas and 55th worldwide — bringing it just five countries away from reaching the target.
Q4 Guidance
Last month, when reporting its third-quarter financial results, the brand also shared its delivery guidance for the final quarter of the year.
XPeng expects to deliver between 125,000 and 132,000 vehicles in the last three months of 2025, representing year-over-year growth of 36.6% to 44.3%.
With 42,013 vehicles delivered in October and 36,728 in November, the company expects December deliveries to fall between 46,259 and 53,259 units.
The year-end sales surge is expected to be driven in part by buyers rushing to purchase before China halves the 10% purchase tax exemption on January 1, 2026.
The target implies that XPeng expects 2025 deliveries to reach between 438,196 and 445,196 vehicles, representing a 130% – 134% increase over the 190,068 vehicles delivered in 2024.
Hybrid Production
In a strategic shift, the company — which has exclusively produced fully electric vehicles up until last month — entered the hybrid segment with the extended-range version of the X9 MPV.
Deliveries of the multi-purpose van began last week.
According to local media outlet 36Kr, the company has asked suppliers to prepare extra materials as it aims to ramp up production before the year-end, in response to strong launch demand.
It is also preparing to unveil hybrid versions of the newly launched G7 SUV, its cheapest G6 model, and the P7+ sedan.
Last week, the upcoming P7+ EREV was spotted for the first time testing on public roads in China. The vehicle was heavily camouflaged.
AI Day Event
XPeng held its 2025 AI Day in early November, unveiling new details on its upcoming Robotaxi, the IRON humanoid robot, and its six-seat flying car.
The company’s founder and CEO He Xiaopeng said XPeng plans to launch three robotaxi models in 2026: a 5-seater, a 6-seater and a 7-seater.
Additionally, the chief executive announced that the company is planning to open-source its autonomous driving stack to commercial partners, including chips, EEA architecture and VLA/VLM models.
A few days later, local media reported that South Korean Hyundai Group is in talks with XPeng to license its autonomous driving tech.
“Volkswagen will be our launch customer, and XPeng‘s Turing AI chips have been selected by VW,” He Xiaopeng added later, in the roundtable that followed the event.
Volkswagen partnered with XPeng in 2023 to jointly develop vehicles for the Chinese market.
The first model from the joint venture, the ID.Unyx 08 SUV based on XPeng‘s G9 platform and featuring its advanced driver assistance system (ADAS) software, was revealed a week later.
Mass production is expected to begin next year.
Stock Performance
Last month, XPeng surpassed Geely Auto‘s market cap on the Hong Kong Stock Exchange for the first time, and just two weeks after the company’s valuation overtook its rival Li Auto.
The Guangzhou-based brand’s shares — listed both in Hong Kong and the United States — have more than doubled this year.
XPeng‘s US-listed shares closed at $21.83 on Friday, and are trading 2.7% lower as of press time during Monday’s pre-market session.
