Chinese electric car maker Xpeng will likely deliver less cars than its rival start-up Nio in the first quarter, according to a report.
- Xpeng said it will deliver 12,500 vehicles in the quarter. This implies 4,250 in March after 6,015 in January and 2,223 in February.
- Nio last week said it will deliver 20,000 to 25,000 vehicles in the quarter, implying at least 7,197 vehicles this month.
- Xpeng revenues rose 43% to 2.85 billion yuan ($437 million) in the fourth quarter from the previous quarter. This is likely to fall to 2.6 billion yuan in the first quarter.
- Xpeng shares fell nearly 4% overnight and are down over 35% for the year; Nio shares dropped 7.6% overnight and are down more than 25% for the year.
- Older automakers have reported better figures. Tesla sold over 14,500 China-made Model 3s in January alone, and BYD more than 7,200 of its Han model.