XPeng results are here – the stock price is falling

XPeng Inc. (XPEV) reported its unaudited Q2 financial results on Tuesday.

The Chinese electric vehicle company reported revenue of $1.11 billion for Q2 (up by 97.7% from Q2 2021) vs. $1.09 billion expected.

World’s 27^th largest automaker reported a bigger loss per share than expected at -$0.47 loss per share for the quarter vs. -$0.32 loss per share projected.

The company delivered 34,422 vehicles in Q2 – an increase of 98% from the same period last year.

He Xiaopeng, Chairman and CEO of Xpeng on the latest results: ”Our deliveries sustained robust growth momentum in the second quarter despite unprecedented circumstances brought by the resurgence of COVID-19 in certain areas of China.”

”We are on track for the official launch of our flagship G9 SUV in September 2022. The G9 is expected to become the industry’s new benchmark for comfort, luxury and advanced technologies in the medium- to large-size SUV segment. With the G9, we have taken both electrification and smart technologies to new heights. These new technologies will be integrated into our future models and alongside our extraordinary product design we will set the bar for an unparalleled driving experience.”

”We are accelerating the pace of new product launches to round out our offering with vehicles priced between RMB150,000 to RMB500,000. In 2023, we plan to roll out two new competitive models that will further propel rapid sales volume growth,” He Xiaopeng concluded.

”Our solid financial results for the second quarter of 2022 reflect our ability to meet strong market demand despite supply chain challenges and cost inflation,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and President of the electric vehicle company.

”We expect our investments in R&D to bear fruit in the upcoming quarters with the roll-out of multiple new products, which will unleash new growth potential and reinforce our leading position in the smart electric vehicle industry,” he added.

The company expects deliveries of 29,000 and 31,000 vehicles in Q3. Revenues expected to be in region of $1 billion to $1.1 billion.

XPeng Inc. (XPEV) chart

The stock was down by around 9% on Tuesday, trading at $19.12 per share.

Here is how the stock has performed in the past year:

• 1 month -2.39%
• 3 months 03%
• Year-to-date -41.34%
• 1 year -52.27%

XPeng price targets

• Citigroup $41
• Barclays $34
• Morgan Stanley $31
• B of A Securities $26
• HSBC $28
• Mizuho $48

XPeng Inc. is the 969^th largest company in the world with a market cap of $17.11 billion.

You can trade XPeng In. (XPEV) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: XPeng Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap