Chinese carmaker XPeng (HKG:9868) did not export new vehicles disguised as used cars, Reuters reported Wednesday.
The statement follows media reports on the practice, where automakers register new cars domestically before shipping them overseas as "used," inflating China's sales figures for years.
Tang Zhikun, Xpeng's international business head, acknowledged the trend but said, "We were very restrained last year and did not do this," Reuters wrote.
Shares of the Chinese carmaker were down 1% in recent trade.
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