XPeng (NYSE:XPEV) saw an increase in pre-market trading following a remarkable 99% month-over-month surge in vehicle deliveries in March. The leading Chinese EV manufacturer delivered 9,026 vehicles during the month, marking a 29% year-over-year growth.
The XPENG X9 retained its position as the company’s best-selling all-electric multi-purpose vehicle (MPV) in China, with 3,946 units delivered in March alone. Since its launch, XPENG has successfully delivered nearly 8,000 X9 vehicles.
Overall, XPENG achieved a delivery of 21,821 electric vehicles in Q1, reflecting a 20% increase compared to the previous year.
Additionally, the company reported that the monthly active user penetration rate for XNGP, its Advanced Driver Assistance System (ADAS) implemented nationwide, reached an impressive 82%.
What is the Target Price for XPeng?
Analysts remain cautiously optimistic about XPEV stock with a Moderate Buy consensus rating based on eight Buys, three Holds, and two Sells. Year-to-date, XPEV stock has slid by more than 45% and the average XPEV price target of $13.08 implies an upside potential of 70.3% at current levels.
