Never before has any Xpeng model been so popular, said a store employee, according to a local media report.
(Image credit: CnEVPost)
Xpeng (NYSE: XPEV) previously announced pre-orders for its new SUV, the G6, but did not mention firm orders for the model after its official launch. Now, a new report provides some reference.
As of July 3, the Xpeng G6 had received about 28,000 firm orders with non-refundable deposits in China, just four days after the model's official launch on June 29, according to a report today from local automotive outlet D1EV.
Staff at an Xpeng store in Beijing said that never before has any other model from the company been so popular, according to the report.
Judging by the Xpeng G6's performance in Tier 1 and Tier 2 cities, the overall conversion rate of pre-orders to firm orders reached 60 percent, the report said.
The model performs better in Tier 1 cities, which are more friendly to new energy vehicles (NEVs), with one store in Beijing already having more than 300 orders for the Xpeng G6, according to the report.
The most popular version of the Xpeng G6 is the 755 Max version, followed by the 580 Max, and they both come with XNGP driver assistance software, the report said, adding that this reflects the appeal of the assisted driving capability to customers.
Xpeng officially launched the G6 in China on June 29, offering five versions, including two Pro versions as well as three Max versions, the former with the Xpilot assisted driving software only and the latter with the more powerful XNGP.
The five versions start at RMB 209,900 ($28,960), RMB 229,900, RMB 234,900, RMB 254,900 and RMB 276,900 respectively.
Xpeng began pre-sales for the G6 on June 9 and subsequently announced that the model had received more than 25,000 pre-orders within 72 hours.
He Xiaopeng, the company's chairman and CEO, said at the model's launch event that the G6 had more than 35,000 pre-orders as of June 28 since it began pre-sales on June 9.
The G6 is expected to become the top-selling smart electric SUV priced at the RMB 250,000 level in China within two months, he said.
While the G6 has received good initial acceptance, Xpeng needs to ramp up production capacity soon to avoid long waits that could lead to potential orders being lost.
Customers have been very enthusiastic about the G6, and those who order it now will have to wait about 10 weeks, Brain Gu, Xpeng's vice chairman and president, told English-language media reporters, including CnEVPost, at an online conference Wednesday night.
Xpeng wants shorter and shorter delivery cycles for the G6, but right now the model still needs capacity ramp-up, Gu said.
($1 = RMB 7.2487)
Xpeng works to boost capacity as G6 wait time exceeds 10 weeks
