From January to August, Xpeng delivered 90,085 vehicles, up 96 percent from 45,992 vehicles in the same period last year.
Xpeng Motors delivered 9,578 vehicles in August, down 17 percent from 11,524 vehicles in July and up 33 percent from 7,214 vehicles in the same month last year, figures released today show.
The delivery volume included 5,745 P7s, 2,678 P5s and 1,155 G3i and G3 smart compact SUVs.
In the January-August period, Xpeng delivered 90,085 vehicles, up 96 percent from 45,992 vehicles in the same period last year.
To date, Xpeng has delivered a cumulative total of 228,038 vehicles, data monitored by CnEVPost shows.
The company did not explain the reason for the decline in deliveries in August compared to July.
In late July, some local media reported that as Xpeng's production capacity increased significantly, while orders did not grow rapidly in tandem, putting pressure on the company's sales.
In its second-quarter earnings report on August 23, Xpeng guided for third-quarter deliveries of 29,000 to 31,000 units, below the consensus estimate of 36,000 units. This represented year-on-year growth of about 13 percent to 20.8 percent.
On August 24, Deutsche Bank analyst Edison Yu's team said Xpeng is in the process of making multiple painful pivots and there is no clear fast pivot point within view.
China's electric vehicle upstarts are increasingly facing customers with higher expectations for product freshness, forcing them to update their products more frequently than in the past, Yu's team said.
Xpeng appears to be the biggest victim of this dynamic so far, facing essentially multiple painful turns at the same time in pricing, segmentation, assisted driving systems and charging technology, the team said.
No clear quick pivot is in sight, and with deliveries of the G9 SUV starting in October, demand concerns may be eased near the end of the year, but investor focus could shift to next year, according to the team.
