$XPeng Inc.(XPEV)$'s drop recently is over-exaggerated like all Chinese stocks when shorted.
So what if Tesla lowers its prices for some of its EVs? Tesla vehicles are "old model" styles and although Tesla is gaining traction in China, still will find it difficult to compete with the likes of BDW, Nio, and Xpeng.
XPeng is expecting its newest model, released late in 2022 -- the G9 -- to gain traction in China and become the 3rd most bought model soon, and move into 1st place by the end of 2023.
With the new models being released in 2023 by XPeng, the outlook for this company will dramatically improve soon.
The Chinese electric car manufacturer reports that 11,292 vehicles were delivered in December. That's the best result since July, although it's over 29 percent lower than in December 2021 (16,000).
Improved results that will accelerate in the first quarter.
Comments
When designer goes on sale (for fashion boutiques) there is always a queue of fans rushing to buy its bags despite being past seasons no?
Apply that to Tesla...