Xpeng recorded 165.7% quarter over quarter and 265.8% year over year vehicle deliveries surge to attain 8,578 units in Q3 2020, according to the company’s press release. Deliveries of the P7 hit 6,250, up from 325 in the second quarter, reflecting strong demand for the product launched in April this year.
- Xpeng expects deliveries of up to 10,000 vehicles and total revenues of RMB 2.2 billion in Q4 2020.
- Q3 2020 revenues were RMB 1,990.1 million (US$293.1 million), up 342.5% year over year and an increase from RMB 590.8 million or 236.9% from Q2 2020.
- Revenues from vehicle sales rose 376% to $279.6 million, mainly due to the acceleration in P7 deliveries since the company started a mass delivery in late June this year.
- Revenues from services and others rose from 80.8% to $13.6 million.
- Gross margin was 4.6%, up from (2.7%) a year ago, while vehicle margin was 3.2%, an increase from (10.8%) a year ago.
- Net loss was RMB 1,148.8 million (US$169.2 million), up from RMB776.3 million year over year, and RMB146.0 million from Q2 2020.
- Both basic and diluted net loss per American depositary share (ADS) were RMB 5.07 (US$0.75).
Xpeng stock is currently gaining. XPEV: NYSE is up on premarket 5.79%
