- In the first week after the Chinese Spring Festival, Xpeng's order intake broke the industry norm that February is usually a low point for sales, Xpeng said.
- The strong orders came mainly from the P7+ and Mona M03, both new models that have been on the market for just a few months.
Xpeng (NYSE: XPEV) saw strong sales during a slow start to the year in the Chinese auto market, supported mainly by two new models.
In the first week after the Chinese Spring Festival, Xpeng's order intake was up 7.6 times from the same period in 2024, breaking the industry norm that February is usually a low point for sales, the company said yesterday.
This year's Chinese Spring Festival was on January 29, with a legal holiday from January 28 to February 4, which usually creates disruptions to industrial production and consumer activities. The 2024 Chinese Spring Festival was on February 10, and the holiday ran from February 10-17.
Xpeng mentioned the order situation when it shared user insights about the P7+ yesterday. The company shared a portion of the event's main content on Weibo.
The strong orders came mainly from the P7+ and Mona M03, both of which are new models that have been on the market for just a few months.
Xpeng launched the P7+ on November 7, 2024, with the mid-to-large-size electric sedan starting at RMB 186,800 ($25,640).
It launched the Mona M03 on August 27, 2024, and the mid-size electric sedan starts at RMB 119,800 ($25,640).
The P7+ delivered 8,114 units in January, contributing 26.73 percent of the Xpeng's 30,350 monthly deliveries, according to data compiled by CnEVPost.
The Mona M03 delivered 15,225 vehicles in January, contributing 50.16 percent of Xpeng's monthly deliveries.
In January, the Xpeng P7+ outsold the Tesla (NASDAQ: TSLA) Model 3, the company said yesterday.
The Model 3 sold 8,009 retail units in China in January, according to data compiled by CnEVPost.
For the P7+, one order was generated for every four people who took a test drive, Xpeng said yesterday.
More than 30 percent of P7+ buyers are female, according to the company.
($1 = RMB 7.2827)
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