Shares of XPeng (NYSE: XPEV) rallied in pre-market trading on Tuesday amid a broader market rally for Chinese stocks even as the Chinese smart electric vehicle (Smart EV) company’s vehicle delivery numbers in October were disappointing.
XPeng recorded vehicle deliveries of 5,101 Smart EVs in the month of October, down 40% from the month of September and a decline of around 50% year-over-year. The October vehicle deliveries consisted of 2,104 P7s, XPEV’s smart sports sedan, 1,665 P5 smart family sedans, and 709 G3i smart compact SUVs.
As of October 31, XPeng’s year-to-date deliveries reached 103,654, an increase of 56% year-over-year.
