XPeng Reports Record Deliveries, (XPEV) Stock Double’s Up YTD

XPeng's stock (NYSE:XPEV) is on the move this morning, up 1.32% in the pre-market following the announcement of its impressive September and third-quarter delivery figures, showcasing the electric vehicle manufacturer's robust growth despite a recent product recall. The positive delivery news appears to have outweighed concerns, driving renewed market confidence.

The driving force behind the stock's upward momentum is XPeng's remarkable delivery performance. In September, the company delivered a record 41,581 smart EVs, a 95% year-over-year increase and a 10% jump compared to August.

This milestone pushed third-quarter deliveries to an impressive 116,007 units, representing a 149% increase from the same period in 2024. Year-to-date deliveries have reached 313,196 units, a substantial 218% increase compared to the first nine months of 2024.

The rapid production of the 10,000th New XPeng P7, achieving 40 jobs per hour (JPH) on a new production line, further underscores the company's manufacturing efficiencies.

XPeng's technological advancements are also contributing to positive market sentiment. The company's XNGP advanced driver-assistance system (ADAS) achieved an 83% monthly active user penetration rate in urban driving. The rollout of the VLA-powered XNGP with door-to-door full scenario ADAS capabilities, starting with the New XPeng P7 and G7 Ultra models, demonstrates XPeng's commitment to innovation.

This is also reflected in XPeng maintaining the highest MSCI ESG Rating of AAA for the third consecutive year in September, underscoring its leadership in sustainability efforts.

With XPEV having come into today's session off the back of a double up YTD (+102.77%), the latest numbers are unlikely to shift the bullish narrative.