Xpeng (NYSE: XPEV) reported strong December deliveries, with more contributions from the new Mona M03 and P7+ models.
The Chinese electric vehicle (EV) maker delivered 36,695 vehicles in December, its fourth consecutive record month, according to data it released today.
This represents an increase of 82.43 percent from 20,115 in the same month last year and up 18.77 percent from 30,895 in November.
The Mona M03 delivered over 15,000 units in December and the P7+ delivered over 10,000 units, Xpeng said.
In the fourth quarter, Xpeng delivered 91,507 units, an all-time high for a single quarter, exceeding the upper end of its guidance range of 87,000 to 91,000 units.
Deliveries for the quarter were up 52.11 percent year-on-year and up 96.65 percent from the third quarter.
For the full year 2024, Xpeng delivered 190,068 vehicles, up 34.23 percent year-on-year.
At the end of December, Xpeng’s cumulative deliveries since inception stood at 590,379 vehicles.
Xpeng officially launched the Mona M03 on August 27, offering three variants with starting prices of RMB 119,800 ($16,410), RMB 129,800 and RMB 155,800 respectively.
The sedan becomes the least expensive of Xpeng’s on-sale models, at roughly half the price of Tesla’s (NASDAQ: TSLA) Model 3.
Deliveries of the two lower-priced variants of the Mona M03 began in late August, while deliveries of the highest-priced Max variant are set to begin after the Chinese New Year holiday.
The upcoming Chinese New Year holiday runs from January 28 to February 4, 2025.
On December 27, Xpeng announced that it saw the 50,000th Mona M03 roll off the production line, four months after the electric sedan model was launched.
The company launched the P7+ on November 7, with the mid-to-large-size electric sedan starting at RMB 186,800 yuan.
The P7+ doesn’t come with any LiDAR, marking the first time Xpeng has ditched the component after using it for the past several years, shifting its smart driving system to a vision-only solution similar to Tesla’s.
Xpeng said on December 11 that cumulative deliveries of the P7+ surpassed 10,000 units, about four weeks after the model’s launch.
