HilaryWilde
2022-08-31

$XPeng Inc.(XPEV)$ For Q2, Xpeng reported anet loss of 46 cents per share, worse than the loss of 32 cents Wall Street analysts had expected. However, the Chinese EV maker also reported an 87% sales increase to $1.1 billion in Q2. That outpaced expected sales growth of 85% to $1 billion, according to data from FactSet.

Xpeng also did well for Q2 deliveries, which grew 98% to 34,422 vehicles. The company’s July sales of 11,524 vehicles increased 43% year-over-year (YOY) and surpassed rivals likeLi Auto(NASDAQ:LI) andNio(NYSE:NIO). So far, deliveries for the year are up 108% to 80,507 vehicles.

Xpeng currently sells a total of three EVs, with the new G9 electric sedan due in showrooms before the end of 2022. The company is already taking reservations for the G9 and planning an official launch in September.

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