Xpeng delivers 15,414 vehicles in March, up 202% year-on-year

Xpeng delivered 9,183 units of its P7 flagship sedan in March, marking the first time deliveries of the model exceeded 9,000.

Xpeng Motors (NYSE: XPEV, HKG: 9868) delivered 15,414 vehicles in March, up 202 percent year-on-year and 148 percent from February, according to figures released today by the company.

It delivered 9,183 units of its P7 flagship sedan in March, the first time the model has exceeded 9,000 deliveries. A total of 4,398 units of the P5 sedan were delivered in March, and 1,833 units of the G3 series SUV were delivered.

Xpeng delivered a total of 34,561 vehicles in the first quarter, up 159 percent year on year. By the end of the first quarter, Xpeng's cumulative deliveries had exceeded 170,000 units.

To accelerate the delivery of orders on hand, as well as new orders added this year, Xpeng completed a technical renovation of its Zhaoqing plant during the Chinese New Year holiday in February, according to the company.

Entering the second quarter, a number of Xpeng's hot-selling models will see a full-scale boost. With a rich product matrix and a forward-looking layout of its sales, service and charging network, Xpeng will accelerate to meet the expanding market demand, it said.

Last month, at a time when a large number of Chinese new energy vehicle (NEV) companies are increasing prices due to the continued rise in raw material prices, Xpeng also increased the pre-subsidy prices of its models by RMB 10,100 to RMB 20,000 ($3,140) on March 21.

Xpeng announced the price adjustment plan on March 18, allowing potential consumers to place orders at the pre-increase price over a two-day weekend.

On March 17, local news portal Sina reported that Xpeng was ramping up its sales efforts to get more orders before the price increases.

This comes after Xpeng's prices for models priced below RMB 300,000 were raised from January 11, including RMB 4,300-5,900 for the P7, RMB 4,800-5,400 for the P5 sedan and RMB 4,800-5,400 for the G3i SUV.

Also of note is that Xpeng saw the 100,000th production vehicle of the P7 roll off the production line on March 23, 695 days before the model's launch on April 27, 2020.

In a conference call with analysts after announcing its fourth-quarter earnings on March 27, Xpeng Chairman and CEO He Xiaopeng said that Xpeng's goal is for the P7 to exceed 10,000 units sold in a single month this year.