XPENG-W, the stock of Chinese electric vehicle (EV) maker XPeng, surged 5.06% in the pre-market trading session on Monday, December 2, 2024, driven by the company's record-high vehicle deliveries in November and expectations of continued strong performance in December.
According to the latest industry data, XPeng delivered 30,895 vehicles in November 2024, marking a staggering 54% increase compared to the same period last year. This impressive feat not only set a new monthly record for the automaker but also contributed to the collective record of 100,210 vehicles sold by Chinese EV giants NIO, XPeng, and Li Auto during the month.
The momentum is expected to continue into December, with XPeng's guidance projecting around 34,000 vehicle deliveries, another record high for the company. This optimism stems from the robust demand for electric vehicles in the Chinese market, despite potential concerns about oversupply and pricing pressures in 2025.
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