XPeng EV Sales Continued To Decrease In February 2023
XPeng reports 6,010 electric vehicle deliveries in February, which is 3.5 percent less than a year ago, but slightly more than in January.
The Chinese start-up continues to struggle with six consecutive months of a year-over-year decrease in sales. Especially significant was a nearly 60 percent drop in January.
The overwhelming majority of XPeng sales are in China.
The situation is probably very challenging for XPeng, as the brand does not even report the results of individual models anymore. Let’s recall that the lineup includes G3/G3i, P5, P7, and G9 flagship SUV.
According to CnEVPost, XPeng recently applied discounts to the P7 model (on top of general price cuts, which were introduced in January), to clear inventory ahead of the market launch of a new P7i version.
Xpeng sales last month:
- Total: 6,010 (down 3.5% year-over-year)
Xpeng EV sales – February 2023
So far this year, XPeng delivered more than 11,000 electric cars, which is 41 percent less than a year ago.
Xpeng sales year-to-date:
- Total: 11,228 (down 41% year-over-year)
For reference, in 12 months of 2022, XPeng’s electric car sales exceeded 120,000 units:
As of February 28, 2022, cumulatively XPeng delivered 269,938 electric cars (the 200,000th car was delivered to customers in June).
To improve its results, XPeng recently launched the G9 and the new P7 model in Europe and opened several new stores in select markets.
“In parallel with efforts to accelerate market share gains domestically, the Company continued to extend its presence in international markets. In February 2023, XPENG opened its second retail stores in both Denmark and the Netherlands. At the same time, the first European service center also started operation in Lørenskog, Norway.”
China also awaits the new P7, called the P7i:
Time will tell whether XPeng will be able to reverse the recent trend and increase sales, beyond 10,000 units a month like in the past.
That’s a very crucial challenge for the start-up, which faces fierce competition in its home market not only on the technical level but the price level too.
Sources: XPeng, CnEVPost
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