Trends That Can Drive Xpeng Stock Higher [Forbes]
Li Auto Inc. - American Depositary Shares (LI)
Company Research
Source: Forbes
Convention Center in Bangkok, Thailand on October 26, 2024. (Photo by Valeria Mongelli/Anadolu via Getty Images) Anadolu via Getty Images Chinese luxury EV maker Xpeng delivered 23,917 vehicles for the month of October, a record for the company. While sales were up about 20% compared to last year, they also rose about 12% compared to September. Xpeng's total year-to-date sales for the first ten months of the year stood at about 122,500 units, a 21% increase from the same period last year. In comparison, Li Auto , the largest of the emerging EV players in China, delivered 51,443 vehicles in October 2024, up 27.3% year-over-year. However, sales were down from 53,709 in September 2024. Nio delivered 20,976 vehicles in October, showing the strongest year-over-year growth of 30%, although numbers were roughly flat on a sequential basis. A bulk of Xpeng's growth appears to have been driven by the company's new sub-brand, Mona, with the brand's first model, the Mona M03, selling over 10,
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