- Deutsche Bank expects Xpeng's total new orders this month to surge 40% from April, thanks to strong initial demand for the GX.
- Xpeng is preparing multiple new models, including the G9L, to further expand its product lineup.
The launch of Xpeng's (NYSE: XPEV) new GX SUV (sport utility vehicle) is expected to help the company achieve a strong sales rebound this month.
Xpeng GX's aggressive pricing strategy has driven robust demand growth, which helped the company's total new orders in May climb substantially to about 50,000 units, a team led by Deutsche Bank analyst Wang Bin wrote in a Tuesday research note.
The highly anticipated model significantly boosted order volume, with the team expecting Xpeng's total orders in May to grow 40% from April and 10% from the same period last year.
Dealers expect the GX SUV to achieve an average monthly delivery volume of about 5,000 units, thanks to its highly competitive dimensions and technology, according to Deutsche Bank.
Xpeng officially launched the GX on May 20 and secured 24,863 non-cancellable firm orders within the first 12 hours, according to data released by the company last week.
To grab market share in the mid-to-high-end family user market, Xpeng set a highly competitive limited-time starting price of 269,800 yuan ($39,750) for the GX.
This actual entry price is significantly lower than the pre-sales price of 399,800 yuan announced a month ago, which was originally comparable to the 406,800 yuan price tag of Nio Inc's (NYSE: NIO) main brand flagship SUV, the ES8.
However, its final actual pricing is comparable to Nio's mass-market sub-brand Onvo's L90 three-row electric SUV, which starts at 265,800 yuan.
The strong initial reception has led to significantly extended delivery wait times for the top-trim GX. Chinese consumers ordering the battery electric Ultra flagship edition now face wait times of up to 25 to 29 weeks.
Among the initial orders for the GX, the top-trim Ultra flagship editions accounted for more than 80%, Xpeng said on Weibo on May 21.
Its strong appeal stems primarily from exclusive high-end technological features, including a steer-by-wire chassis and a 110-kilowatt-hour large-capacity battery pack.
In terms of intelligence, the GX is built to L4 autonomous driving standards and adopts a flexible computing power allocation strategy.
The top-trim version is equipped with three Turing AI chips developed in-house by Xpeng, delivering up to 2,250 TOPS of computing power for smart driving.
More models coming
While the GX SUV is the main driver of Xpeng's order surge, orders for other models such as the Mona M03, P7+, X9, and G6 remained steady in May, Deutsche Bank noted.
Looking ahead, Xpeng's aggressive product roadmap also includes the launch of the new G9L in the third quarter of 2026, and this ultra-large five-seat SUV will be positioned as a sister product to the GX to further complete the product lineup, the team said.
Due to its increased dimensions, the G9L is expected to be priced slightly higher than the current G9 SUV. Deutsche Bank estimates that the G9L's average monthly sales volume could reach about 4,000 units after its launch.
In addition, dealers revealed that Xpeng also plans to launch two SUV models, the Mona L05 and Mona L03, in the second half of 2026. A new sedan, the M05, positioned slightly above the existing Mona M03, is also expected to join the product lineup in 2027, according to the team.
Earlier this month, Xpeng filed for the G9L, L05, and L03 SUVs, covering both battery electric and extended-range versions.
The G9L measures 5,120 millimeters in length with a wheelbase of 3,100 mm, which is smaller than the GX's 5,265 mm length and 3,115 mm wheelbase.
The currently available G9 SUV is 4,891 mm long with a wheelbase of 2,998 mm, and starts at 248,800 yuan.
Xpeng delivered 31,011 vehicles in April, down 11.51% from a year earlier, but up 13.12% from March, according to data compiled by CnEVPost.
($1 = 6.7871 yuan)
