Xpeng's new sports sedan, the P7i, launched for the China market in March, generated favorable market reception and its order backlog is gathering strong momentum, it said.
Xpeng (NYSE: XPEV) continued to see sequential improvement in deliveries in March, with first-quarter deliveries barely above the lower end of the guidance range.
The electric vehicle company delivered 7,002 vehicles in March, up 16.51 percent from 6,010 in February, but down 54.57 percent from 15,414 in the same month last year, according to data released today.
Xpeng's new sports sedan, the P7i, launched in March for the Chinese market, has generated favorable market reception and its order backlog is gathering strong momentum, it said.
The company delivered 3,030 units of the P7 series sedan in March, up 32 percent month-on-month, it said, without disclosing breakdown figures for the P7i and P7.
The launch of the new P7i -- which began nationwide deliveries in March -- also boosted the company's store traffic, pushing test-drive volumes to recent heights, Xpeng said.
In the first quarter, Xpeng's deliveries were 18,230 units, slightly above the lower end of the guidance range of 18,000 to 19,000 units.
That was down 47.25 percent from 34,561 units in the year-ago quarter and down 17.90 percent from 22,204 units in the fourth quarter.
The company's revenue guidance for the first quarter was RMB 4 billion to RMB 4.2 billion when it announced its fourth-quarter earnings on March 17.
As of March 31, Xpeng's cumulative deliveries stood at 276,940 units, figures monitored by CnEVPost show.
On March 31, Xpeng began the first phase of its rollout of XNGP to G9 Max and P7i Max customers in Guangzhou, Shenzhen and Shanghai, as well as P5 P version customers in Shanghai, it said.
XNGP is China's leading full-scene ADAS platform for mass-production models, Xpeng said, adding that it is accelerating the implementation of XNGP to multiple models in multiple cities in China.
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