Xpeng expects deliveries to increase significantly in December as production of the G9 ramps up under normal operating conditions.
Xpeng Motors' deliveries improved in November but were still significantly lower than in the same month last year.
The company delivered 5,811 vehicles in November, up 14 percent from 5,101 in October, but down 62.8 percent from 15,613 in the same month last year, figures released today show.
In November, Xpeng delivered 1,546 units of its flagship G9 SUV, citing a challenging operational backdrop that affected G9 production ramp-up and delivery service in certain regions.
The company expects deliveries to increase significantly in December as G9 production ramp-up accelerates under normal operating conditions.
From January to November, Xpeng delivered 109,465 vehicles, up 33.2 percent from 82,155 vehicles in the same period last year.
As of November 30, Xpeng's cumulative deliveries since inception stood at 247,418 vehicles, data monitored by CnEVPost shows.
Notably, Xpeng gave guidance for fourth-quarter deliveries of 20,000 to 21,000 vehicles when it announced its third-quarter earnings yesterday.
The November delivery figures released today mean that the company expects to deliver between 9,088 and 10,088 vehicles in December.
Xpeng's deliveries have declined significantly since the second half of this year.
In a research note sent to investors on November 28, Deutsche Bank analyst Edison Yu's team said the key to Xpeng regaining relevance is to win back demand, which could take several quarters, creating significant uncertainty heading into 2023.
On the demand side, the G9 will need to consistently sell at least 5,000 units per month to make sense, and the upcoming smaller midsize SUV, the G5, will need to hit 7,500-10,000 units per month by the end of next year to be considered a success, Yu's team said.