XPeng delivered a record 50,237 vehicles in October, its first month above 50,000, leaving it about 9,800 units short of the single-month 60,000 target set by Founder and CEO He Xiaopeng for the fourth quarter.
October deliveries rose 22% from September’s 41,256 and 20% from 42,013 a year earlier, the Guangzhou-based carmaker said late Saturday. The previous monthly record was the October 2025 figure.
Overseas deliveries reached a monthly record of 13,326 vehicles, up 166% year over year, according to the company.
He told analysts on the company’s second-quarter earnings call in August that XPeng expected deliveries “to increase significantly in the fourth quarter,” with “monthly deliveries targeting more than 60,000 units.”
To hit it, XPeng would need November or December to come in about 19% above October’s record. If the target were applied to every month of the quarter, October would already have missed it.
On the first-quarter call in May, He said he was “very confident that deliveries will grow substantially quarter-over-quarter in each of the remaining quarters this year.” Topping the third quarter’s 118,390 deliveries would take about 68,200 in November and December, or roughly 34,100 a month, well below October’s pace.
He also said the start of overseas deliveries of new models would drive “firm-wide quarterly overseas deliveries to exceed 40,000 units” in the fourth quarter.
That target looks more within reach. After October’s 13,326, XPeng needs about 26,700 more overseas deliveries in the last two months of the year, a pace of roughly 13,340 a month, just above October’s result.
On the May call, He had set the goal of “sustained monthly overseas deliveries of over 10,000 units in the fourth quarter,” which October cleared, and said XPeng aimed “to more than double full year overseas deliveries.”
XPeng has delivered 72,805 vehicles overseas in the first ten months, based on its monthly releases, already about 62% above the 45,008 it delivered abroad in all of 2025. Doubling that total requires about 17,200 more in November and December.
The company has a record of meeting its own quarterly guidance this year. It forecast 115,000 to 121,000 deliveries for the third quarter and delivered 118,390.
XPeng’s US-listed shares closed at $9.04 on Friday, their lowest level since September 2024, extending a decline that has also seen JPMorgan cut its stake to the lowest level in five years.
Domestic Sales Flat
The October growth came almost entirely from abroad. Subtracting overseas volumes from the totals, XPeng delivered 36,911 vehicles in China in October, compared with 37,014 in October 2025, roughly flat year over year.
The domestic figure was up about 18% from September, when XPeng delivered 41,256 vehicles in total, of which 10,055 went overseas.
Overseas deliveries accounted for about 27% of October’s total, compared with about 12% a year earlier. XPeng’s sales outside China doubled to 19% of its total in the first half of the year.
Behind Last Year’s Pace
XPeng has delivered 334,604 vehicles in the first ten months of 2026, down 5.8% from 355,209 in the same period of 2025. The gap has narrowed from about 9% after nine months.
The carmaker would need 94,841 deliveries in November and December, about 47,400 a month, to match its 2025 total of 429,445 vehicles.
XPeng has not published an official full-year target for 2026. Chinese outlet 36Kr reported in January that the company had set an internal goal of 550,000 to 600,000 vehicles for the year. Reaching even the low end of that range would require about 215,400 deliveries in the final two months.
The company’s 2026 monthly deliveries started at 20,011 in January and 15,256 in February, before climbing above 40,000 for the first time this year in June.
Mona L05 and New Models
XPeng’s year-end outlook depends heavily on the Mona L05, a five-seat SUV it opened for pre-sales in mid-October and launched in China on October 29 at a limited-time starting price of 139,800 yuan ($21,000). Mainland deliveries started on November 1, the company said.
XPeng said 5,000 Mona L05 units available for near-term delivery sold out within three minutes of the launch. The model is offered with battery-electric and extended-range powertrains.
Before announcing prices at the launch in Guangzhou, He referred to the delivery delays that followed the Mona L03’s debut. “Because deliveries couldn’t keep up, we got scolded badly,” he said, according to Chinese media.
XPeng said in October the SUV had drawn more than 12,000 orders in Europe since its July launch there.
The company said cumulative deliveries of its Mona lineup have exceeded 360,000 vehicles in about two years on the market.
XPeng began global shipments of the L05 on October 26 and plans to sell it in 65 countries and regions, with a European launch planned for early 2027. Its overseas push also includes the GX flagship SUV, which it began shippingto the Middle East and Africa, and the G9L.
The delivery release also recalled that XPeng received approval on October 26 to run L4 robotaxi demonstration operations in Guangzhou.
Market Backdrop
XPeng’s record came as China’s overall car market weakened sharply. Passenger-car retail sales fell 26% year over year to 1.145 million units from October 1 to 25, according to the China Passenger Car Association.
Retail sales of new energy vehicles, which include battery-electric and plug-in hybrid cars, fell 13% to 753,000 units over the same period, the association said, putting their share of the market at 65.7%.
The association has not yet published its brand-level October retail and wholesale data.
New energy vehicle wholesale volumes, which include exports, rose 3% to 1.008 million over the same period.
In the association’s September rankings, XPeng placed 10th among carmakers by wholesale volume with 40,654 units, slightly below the 41,256 deliveries it reported for the month.
Most carmakers had completed less than 60% of their annual targets after three quarters, the association said on October 23, citing a survey of manufacturers in early October.
Among XPeng’s rivals, Leapmotor delivered a record 106,127 vehicles, Xiaomi said it delivered more than 50,000, and Li Auto delivered 29,025, all according to the companies. Nio Inc. delivered 34,246 across its three brands.
XPeng and Nio Inc. are now almost level for the year. XPeng’s 334,604 deliveries through October are 57 vehicles more than Nio Inc.’s 334,547.
