delivered 25,666 vehicles in the third quarter, up 199.2 percent year-on-year and up 47.5 percent from the second quarter.

Xpeng Motors will report its unaudited third-quarter financial results on Tuesday, November 23, before the US stock market opens, so what can investors expect for the big day?

Xpeng has previously released delivery figures showing that it delivered 25,666 vehicles in the third quarter, up 199.2 percent year-on-year and 47.5 percent from the second quarter. The deliveries were above the upper end of the company's guidance of 21,500-22,500 vehicles.

The P7 had 19,731 deliveries in the third quarter, the G3 and G3i had 5,691 deliveries and the P5, which began delivering in small numbers in September, had 244 deliveries.

Xpeng monthly vehicle delivery data

MonthTotalG9P7P5G3iG3
Jan-235,2182,249
Dec-2211,2924,020
Nov-225,8111,546
Oct-225,1016232,1041,665709
Sep-228,4681844,6342,4171,233
Aug-229,5785,7452,6781,155
Jul-2211,5246,3973,6081,519
Jun-2215,2958,0455,5981,652
May-2210,1254,2243,6862,215
Apr-229,0023,7143,5641,724
Mar-2215,4149,1834,3981,833
Feb-226,2253,5372,059629
Jan-2212,9226,7074,0292,186
Dec-2116,0007,4595,0303,511
Nov-2115,6137,8392,1545,620
Oct-2110,1386,0444373,657
Sept-2110,4127,5122442,656
Aug-217,2146,1651,049
Jul-218,0406,0541,986
Jun-216,5654,7301,835
May-215,6863,7971,889
Apr-215,1472,9952,152
Mar-215,1022,8552,247
Feb-212,2231,409814
Jan-216,0153,7102,305
Dec-205,7003,6912,009
Nov-204,2242,7321,492
Oct-203,0402,104936
Sep-203,4782,573905
Aug-202,6491,996653
Jul-202,4511,641810
Jun-20916325591
May-20976976
Apr-201,3361,336
Mar-201,0551,055
Feb-20161161
Jan-201,0551,055

So far, the median analyst estimate for Xpeng's third-quarter revenue in a Bloomberg survey is RMB 5.206 billion, with expectations for its loss at RMB 1.49 billion and an adjusted net loss at RMB 1.09 billion.

Wall Street analysts expect Xpeng to report GAAP earnings per share of RMB -1.03 and adjusted EPS of RMB -1.375 in the third quarter.

In a research note released late last month, Deutsche Bank analyst Edison Yu's team expected Xpeng to report revenue of RMB 5.63 billion in the third quarter, topping the Wall Street consensus estimate.

The team's estimate for Xpeng's gross margin in the third quarter was 13.7 percent, and its estimate for vehicle margin was 13.0 percent. For reference, Xpeng's gross margin in the second quarter was 11.9 percent and its vehicle margin was 11.0 percent.

Yu's team expects Xpeng to post EPS of RMB -1.86 in the third quarter, worse than consensus, as Selling, General, and Administrative Expense (SG&A) is significantly higher.

The team expects Xpeng's management guidance for fourth-quarter deliveries to likely be in the 35,000-40,000 range, assuming the company's goal of reaching 15,000 units per month is achieved in December. They also expect Xpeng management's revenue guidance for the fourth quarter to be around RMB 8 billion.

Based on this, the team expects Xpeng to deliver 94,000 units for the full year 2021, with revenue expectations of RMB 19.8 billion.

Yu's team has a Buy rating on Xpeng and a $57 price target.

Xpeng closed up 1.07 percent to $47.39 on Monday.

Xpeng's management will host an earnings conference call at 8:00 am US Eastern Time on November 23, 2021 (9:00 pm Beijing/Hong Kong time on November 23, 2021).

Dial-in details for the earnings conference call are as follows:

United States: +1-833-654-9168

United Kingdom: +44-208-602-0818

International: +1-209-313-0576

Hong Kong, China: +852-5808-6567

Chinese mainland: 400-682-8629

Conference ID: 2381058

Participants please dial-in 5 minutes prior to the scheduled start time to be connected to the call.