With the stock struggling in the face of C COVID disruptions, broader growth sell-off, and what appears to be Tesla sympathy yesterday, analysts see potential for a relief rally with April monthly sales. They already cut April monthly delivery expectation to ~9k units last week (vs. >15k in March) but based on most recent channel checks, analysts now see potential upside to +10k (highest among the Fab 5). XPeng's production/logistics appear to be least impacted by the S lockdown (worst region although local supply chain is in much better shape relative to 1-2 weeks ago) and while other cities have also experienced lockdowns (both full and partial), XPeng's supply chain management also seems to be more resilient than peers, perhaps due to its large number of alternative suppliers. High level, the broader Ce economy is clearly under pressure, but continue to see EVs generating robust (secular) growth as consumers rapidly transition away from ICE (e.g., ICE lost >800k units YoY in 1Q while NEV gained >600k). In particular, XPeng has a very large order backlog that extends out for several months, meaning demand should remain well above supply for the foreseeable future. To hedge for possible incremental market weakness especially for EV stocks, analysts recommend selling $LI given their belief it could have a relatively soft April selling month (possibly lowest among Fab 5) as it is facing more severe component shortages despite being perceived as the best operator in the group. Main risk to this hedge would be monthly volumes coming in materially better than expected.$XPeng Inc.(XPEV)$