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Xpeng Posts 25% Revenue Growth in Q3 Over Q2, Gross Margin Hits Record High of 15.3%

CnEVPost ·  Nov 19 04:08

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Xpeng reported a record gross margin of 15.3 percent in the third quarter, compared to negative 2.7 percent in the same period in 2023 and 14.0 percent in the second quarter of 2024.

Xpeng (NYSE: XPEV) reported total revenues of RMB 10.1 billion ($1.44 billion) in the third quarter of 2024, an increase of 18.4 percent from the same period in 2023 and an increase of 24.5 percent from the second quarter of 2024.

The company's gross margin was a record 15.3 percent in the third quarter, compared to negative 2.7 percent in the same period in 2023 and 14.0 percent in the second quarter of 2024.

During the third quarter, Xpeng delivered 46,533 vehicles, exceeding the upper end of the guidance range of 41,000 to 45,000 vehicles, published figures show.

Deliveries for the quarter were up 16.31 percent year-on-year and 54.05 percent from the second quarter.

Xpeng guided third-quarter revenue to be in the range of RMB 9.1 billion to RMB 9.8 billion when it announced its second-quarter results on August 20, up about 6.7 percent to 14.9 percent year-on-year.

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