US-listed shares of XPeng fell to a nine-month low on Monday as investors weighed disappointing January deliveries against the Chinese carmaker’s ambitious expansion into robotics and autonomous driving.
The company posted the steepest year-over-year decline among major Chinese new energy vehicle (NEV) makers in January, even as the sector broadly weakened following scaled-back government incentives.
The timing of the Lunar New Year holiday — which fell in January last year but shifts to February this year — was expected to counterbalance part of the lower incentives setback.
However, XPeng said on Sunday that it delivered 20,011 vehicles globally in January, a 34.1% decline from a year earlier despite having doubled its international market presence over the period.
XPeng‘s drop outpaced rivals including BYD, which saw deliveries fall 30.1% to 210,051 units, Li Auto with a 7.5% decline to 27,668 units, and Great Wall Motor down 19.0% to 18,029 units.
On the other hand, GAC’s Aion brand posted a 162.9% sales jump in January, while NEV deliveries of the Seres Group soared by 140% and Nio Group nearly doubled (+96.1%) to 27,182 units.
Compared with December — typically the industry’s strongest month — XPeng‘s deliveries plunged 46.6%.
A detailed breakdown by model will be published later this month when the China Passenger Car Association releases industry wide data for the first month of 2026.
To fight the weakening demand, the brand has recently launched several new models.
Last month, XPeng announced at the Brussels Auto Show that the second generation P7+ sedan will begin deliveries across 25 European markets in April.
Later this year, the brand will also bring the X9 MPV, the Mona M03 sedan, and other models to Europe, with sales expected to increasingly contribute to its global total figures.
New 9-Month Low
The stock dropped by more than 4% to $16.87 during Monday’s pre-market session, its lowest level since May 2025.
The decline extends a bruising stretch for the Guangzhou-based automaker, with shares down 11.3% year-to-date.
Despite the recent selloff, the stock remains up 14.6% over the past 12 months.
2026 Outlook
XPeng is targeting deliveries of 550,000 to 600,000 vehicles globally in 2026, according to local media outlet 36kr, citing an internal meeting.
The guidance implies growth of 28% to 40% from the 429,445 vehicles delivered in 2025.
Last year’s full-year deliveries exceeded company guidance by 13%, with XPeng reaching its 380,000-unit target in November, one month ahead of schedule.
