XPeng delivered 39,107 vehicles in August, a 2.8% sequential increase from July and a 3.7% rise from August 2025, the Guangzhou-based automaker said on Tuesday.
Growth remained essentially flat — an outcome the company had already expected when setting third-quarter guidance of 115,000 to 121,000 vehicles during its earnings call on August 24.
XPeng reported second-quarter results that missed analyst estimates on the same day, sending shares to their lowest level since early January 2025.
With two of three third-quarter months now reported — July at 38,027 and August at 39,107 — September needs to produce between 37,866 and 43,866 units to land inside the guided range.
Reaching the upper end would mark the brand’s strongest month of 2026, surpassing June’s 40,126 deliveries.
Global vehicle deliveries were down 10.5% year to date as of the end of August.
The Annual Gap
Cumulative deliveries through August 31 stand at 243,111 vehicles.
XPeng set an internal target of 550,000 to 600,000 global deliveries for 2026, implying the company must deliver between 306,889 and 356,889 vehicles in the final four months — more than half its full-year goal in a single stretch.
Subtracting the remainder of the third-quarter guidance from the annual target leaves the fourth quarter requiring about 266,000 to 316,000 vehicles, or 88,700 to 105,300 per month across October, November and December.
Founder and CEO He Xiaopeng told analysts last month he expects monthly deliveries to exceed 60,000 in the fourth quarter — a target that would still fall short of the annual floor.
XPeng‘s all-time monthly record stands at 42,013, set in October 2025.
The flat guidance disappointed Wall Street despite an aggressive product push across recent months.
While August’s 39,107 vehicles cleared July, it has barely moved the needle on year-over-year growth. XPeng delivered 103,295 vehicles in the second quarter — also essentially flat against the 103,181 shipped a year earlier.
A full ramp of both the G9L and the L03, an L05 launch, and an export push that reached a record 9,700 vehicles in July all need to converge to bring the annual target within reach.
Cumulative deliveries through August represent 44.2% of the 550,000-unit floor and 40.5% of the 600,000-unit ceiling.
Model Mix
XPeng’s six-seat flagship SUV, the GX, delivered 7,338 units in August, as the company announced its 20,000th delivery.
Monthly volume has risen for three consecutive months — from 6,739 in June to 7,140 in July and now 7,338 — though the gains have narrowed.
The model lists from 279,800 to 359,800 yuan ($41,600 to $53,500) and is XPeng‘s most expensive vehicle, yet has consistently ranked as its second-best seller behind the entry-level Mona M03.
The Mona M03 sedan has held the top spot in China’s 100,000-to-200,000-yuan pure-electric sedan segment for 23 consecutive months, according to the company.
Cumulative Mona-series deliveries — spanning the M03 and the Mona L03 compact SUV — have surpassed 310,000 units.
New Model Offensive
XPeng is stacking new launches to drive the second-half ramp. He Xiaopeng has framed the push as a move to cover every major SUV segment with four new models.
The G9L large five-seat SUV debuted on August 11 and opened pre-sales from 259,800 yuan ($38,700) across six battery-electric and extended-range variants.
Built on an 800-volt platform, the G9L stretches 5,120 mm on a 3,100 mm wheelbase and slots between the smaller G9 and the full-size GX.
He confirmed during the earnings call that Chinese deliveries will begin in September, giving the model roughly one month of contribution to the third quarter.
XPeng has also said the G9L will launch overseas, following the GX and the Mona L03 into international markets.
The G9L enters a segment contested by Li Auto’s L7, the Huawei-backed Aito M7 and the Onvo L80.
XPeng’s entry-level pricing undercuts all three, mirroring the approach the company took with the GX, which launched at 130,000 yuan below its own pre-sales price.
The Mona L03 compact SUV — XPeng’s second Mona sub-brand model — debuted globally in Munich on July 16 and recorded 2,884 wholesale units in its first partial month.
Further out, He confirmed the Mona L05 mid-size SUV will launch in the fourth quarter.
A five-seat fastback SUV measuring 4,870 mm on a 2,940 mm wheelbase, the L05 was spotted roadtesting without camouflage in August, roughly three months after its first filing with China’s Ministry of Industry and Information Technology.
MIIT filings show both battery-electric and extended-range configurations.
Beyond the confirmed pipeline, XPeng has been spotted testing an unannounced station wagon under the Mona sub-brand, carrying the internal codename D11T.
