Shares of XPeng Inc. (XPEV) soared 5% intraday on Tuesday, driven by the electric vehicle maker's robust sales performance and positive outlook for its new models.
XPeng saw a 2.86% increase in insurance registrations for the week ending December 15th, totaling 7,200 units. This follows the company's record monthly deliveries of 30,895 vehicles in November, marking the first time it surpassed the 30,000 mark.
Investors are particularly optimistic about the strong demand for XPeng's new offerings, with the P7+ electric sedan crossing 10,000 cumulative deliveries within a month of its launch. The Mona M03 electric sedan, launched in late August, has already exceeded 40,000 deliveries. XPeng had guided for fourth-quarter deliveries between 87,000 and 91,000 units, implying expectations of over 32,000 deliveries in December.
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