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$XPeng (XPEV.US)$ XPeng rose more than 13% on Fri after it l...
XPeng rose more than 13% on Fri after it launched its new mid-sized SUV at a sale price 20% lower than Tesla's Model Y. The G6 vehicle starts at USD28,950. Model Y currently sits around USD47,240.
The EV space in China is in the middle of a fierce pricing war after Tesla slashed its prices last year in an effort to sell more vehicles, vs a strategy of lower volumes and higher margins.
In May, BYD - seen as Tesla's strongest competitor in China cut the price of its Seal sedan by 10%.
In Jun, Nio announced it was taking USD4,200 off its vehicle offerings in China.
XPeng’s competitive price on its new SUV is seen as a way to turnaround sales and meet its aggressive delivery targets.
The company reported a steep drop in sales in the first quarter amid fierce competition and an uneven recovery in China.
Deliveries in May declined almost 26% YoY to 7,506 vehicles. XPeng is targeting the delivery of 200,000 units in 2023 vss 120,757 in 2022 - or a 66% YoY increase in volume.
Delivery for XPeng's G6 are expected to start as soon as Jul. The stock is up 34% ytd.
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TeslaSmurf : Typical overreaction: they loose tons of money on each car.
XPeng net profit margin as of March 31, 2023 is -41.74%. If the new car is sold at less than the Model Y, considering Tesla’s greatly superior manufacturing capabilities and efficiency, they will loose even more.
There’s no reason to invest in any other EV maker, if not for fun. I have some Polestar but… JUST FOR FUN
Silverbat : may come over to US market with flying EVs
moo-nlight : will it be mistaken as a spy car, and get shot down?
bullrider_21 OP moo-nlight :
102332870 : typical pump when the timing is right. then come out with all the beautiful scenario like 100k a month sales. they forget that there are other competitors like Tsla or Byd that can slash price at an instant if too big mkt share is loss.
eleven 1479 moo-nlight : It is entirely possible that the current relationship between Israel and China will be guided and used by interested people.
花开富贵 : 1