On June 23, XPeng fell 5.32% in pre-market trading to $12.62 per share, with turnover of $559,000, extending its recent losing streak and hitting a fresh year-to-date low.

On the news front, domestic auto industry fundamentals continue to deteriorate. Cumulative January-May domestic auto sales declined 20.6% year-over-year, while May single-month auto retail spending fell 16.1% YoY. An ongoing price war combined with surging raw material costs — lithium carbonate rising from RMB 70,000/ton to RMB 200,000/ton alongside higher copper and aluminum prices — is severely compressing automaker profit margins. Additionally, false online claims that L3/L4 autonomous driving national standards would mandate lidar hardware have unsettled the market. Although XPeng executives publicly debunked the rumor, clarifying that the published standard document contains no mention of lidar and adopts a results-oriented approach leaving technology choices to companies, investor sentiment remains impacted. The broader auto sector has weakened in tandem, with multiple EV peers posting consecutive declines.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)