Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
XPeng’s (NYSE: XPEV) share price is gaining on Thursday after it too announced record deliveries for the quarter, following NIO’s report earlier in the day.
The Chinese electric vehicle company said it delivered a total of 5,102 vehicles in March 2021, consisting of 2,855 P7s, its sports sedan, and 2,247 G3s, its smart, compact SUV.
XPeng’s March deliveries represent a 384% increase year-over-year and a 130% increase from the previous month.
It means the company achieved record quarterly deliveries of 13,340 electric vehicles in the first quarter of 2021, representing a 487% increase year-over-year.
The Guangzhou based firm said the increase demonstrates its robust growth momentum despite the seasonal industry-wide slowdown in car sales.
They put the quarterly record down to its growing brand recognition and product appeal, expanded product portfolio, and broadening sales, marketing, and supercharging service networks across China.
Cumulative deliveries have reached 50,000 vehicles.
XPeng’s share price is up 5.18% following the news, at $38.40.
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