- Xpeng's January deliveries declined 34.07% year-on-year and fell 46.65% month-on-month.
- Additional purchase tax costs and reduced policy support contributed to the impact.
Xpeng (NYSE: XPEV, HKG: 9868) saw its delivery volume decline last month as China's auto market entered its traditional off-season and faced impacts from reduced policy support.
The Chinese electric vehicle (EV) maker delivered 20,011 vehicles in January, down 34.07% year-on-year and down 46.65% month-on-month, according to data released today.
The Xpeng X9 MPV (multi-purpose vehicle) continued strong sales in January, with cumulative deliveries reaching 51,897 units since its launch, the company said.
Entering 2026, China's new energy vehicle (NEV) buyers now face a 5% purchase tax, rather than the previous full exemption from the 10% rate.
Additionally, vehicle trade-in subsidies in multiple Chinese cities expired at the end of last year. China has extended the subsidies with adjusted details, currently in a transitional phase.
On January 8, Xpeng updated four models, adding extended-range electric vehicle (EREV) options for two of them.
Last week, the company began accepting pre-orders for the 2026 X9 battery electric vehicle (BEV).
The X9 was initially launched in China on January 1, 2024, offering only BEV options. On November 20 last year, Xpeng introduced the extended-range X9 MPV, its first EREV model.
On January 22, Xpeng began offering 7-year low-interest financing plans in China, joining Tesla (NASDAQ: TSLA) and Xiaomi (HKG: 1810, OTCMKTS: XIACY).
