On March 17, Chinese electrical automobile producer XPeng launched its earlier year-end monetary report. Its whole income for 2022 was 26.86 billion yuan ($3.89 billion), representing a 28% enhance from the earlier yr. Its income for This fall was 5.14 billion yuan ($750 million), down 39.9% in comparison with the identical interval in the earlier yr.
XPeng‘s annual income is decrease than that of NIO and Li Auto, which recorded revenues of 49.27 billion yuan ($7.15 billion) and 45.29 billion yuan ($6.57 billion) respectively in 2022.
XPeng delivered 22,000 automobiles in the fourth quarter of 2022, bringing its whole automobile deliveries for the yr to 120,000 items, which represents a 23% enhance from the earlier yr.
XPeng recorded a internet lack of 9.14 billion yuan ($1.33 billion) in 2022, marking an 88.1% enhance from the earlier yr. This determine was decrease than NIO‘s internet lack of 14.437 billion yuan ($2.1 billion), however greater than Li Auto‘s internet lack of 2.032 billion yuan ($294 million). Additionally, XPeng‘s gross revenue margin decreased from 12.5% in 2021 to 11.5% in 2022.
During the convention name, XPeng chairman He Xiaopeng acknowledged that the challenges posed by the macro-environment and competitors throughout the EV trade in the previous yr enabled the corporate to establish inner points early on. Consequently, XPeng initiated strategic critiques and changes in direction of the tip of the yr. The appointment of Wang Fengying, the previous president of Great Wall Motor, as XPeng‘s new president, garnered vital consideration from the general public amidst these modifications.
Despite the modifications made, XPeng‘s monetary report means that the corporate continues to be going through vital challenges. According to the report, XPeng expects its supply quantity in the primary quarter of this yr to be between 18,000 and 19,000 automobiles, which represents a year-on-year lower of roughly 45.0% to 47.9%. Additionally, its whole income is anticipated to vary from 4 billion yuan ($580 million) to 4.2 billion yuan ($609 million), which represents a year-on-year lower of about 43.7% to 46.3%.
In comparability, NIO is projected to ship 31,000 to 33,000 automobiles in the primary quarter, with income concentrating on between 10.93 billion yuan ($1.59 billion) and 11.54 billion yuan ($1.67 billion). Li Auto is anticipated to ship 52,000 to 55,000 automobiles in the primary quarter, and its whole income is anticipated to be between 17.45 billion yuan ($2.53 billion) and 18.45 billion yuan ($2.68 billion).
On March 10, XPeng launched the P7i with a worth vary from 249,900 yuan ($36,272) to 339,900 yuan ($49,335), which was barely greater than market expectations. Despite this, He Xiaopeng famous that the automotive has garnered vital curiosity, with the variety of take a look at drives reaching the best stage in current months since its launch.
XPeng is ready to launch its newest automobile, the brand-new G6, on the upcoming Shanghai Auto Show, with official listings and deliveries slated for the tip of the second quarter. He Xiaopeng predicts that the gross sales quantity of the G6 will attain two to a few instances that of the P7. Additionally, XPeng plans to unveil its pure electrical seven-seater MPV in the second half of the yr. He Xiaopeng additional said that the corporate’s gross sales quantity is anticipated to considerably enhance month-on-month from the third quarter onwards in addition to year-on-year.
SEE ALSO: XPeng Revamps Its Marketing System
Furthermore, He Xiaopeng revealed that XPeng plans to attain a value discount of over 50% in automated driving know-how from this yr to subsequent yr. Additionally, the corporate goals to scale back automobile {hardware} prices, together with powertrain prices, by round 25%. When requested about how XPeng plans to attain this price discount, He Xiaopeng acknowledged that the corporate’s price management has not been optimum in the previous. However, he added that XPeng can leverage built-in stamping know-how, automobile packing know-how, and battery cell manufacturing to scale back prices in the longer term.
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