Xpeng Motors' Q3 revenue in 2023 was 8.53 billion yuan, a year-on-year increase of 25%, but losses expanded by 481.1%

News from this site on November 15th, Xpeng Motors announced its third quarter financial report on November 15th. The total revenue in the third quarter was RMB 8.53 billion, market expectations were RMB 9.137 billion, and RMB 6.82 billion in the same period last year, A year-on-year increase of 25% and a month-on-month increase of 68.5%; the quarterly gross profit margin was -2.7%, a month-on-month increase of 1.2 percentage points.

Xpeng Motors' comprehensive loss attributable to ordinary shareholders in the third quarter was 4.01 billion yuan,a year-on-year expansion of 481.1% and a month-on-month expansion of 107.9%. Attached to this site is a performance table:

After the financial report was released, Xpeng Motors’ U.S. stocks fell 0.71% before the market opened, having previously risen by more than 3%.

Xpeng Motors’ total vehicle deliveries in the third quarter of 2023 were 40,008 vehicles, an increase of 72.4% from 23,205 vehicles in the second quarter of 2023.

Xpeng Motors Chairman and CEO He Xiaopeng said: "Xpeng Motors will take the lead in realizing intelligent assisted driving in 2023 in line with technology and user needs. At the turning point, I believe that the five years from now will be the five years when intelligent assisted driving becomes widely popularized. Xpeng Motors will lead the nationwide coverage of intelligent assisted driving and become the preferred brand for users for intelligence. From the third year this year At the beginning of the quarter, we have entered a preliminary positive cycle. I believe that the effects of a series of changes starting this year will be more obvious in 2024 and beyond, and by the fourth quarter of next year we will enter a positive cycle of rapid development. "

"Our delivery volume has increased month-on-month for nine consecutive months, and free cash flow has improved significantly." said Dr. Gu Hongdi, honorary vice chairman and co-president of Xpeng Motors. "We expect that as new products and technology cost reductions drive a significant improvement in our gross profit margin, free cash flow will improve more significantly in the fourth quarter, which is the starting point for us to move towards long-term scale profitability."

Xpeng Motors has raised its Q4 performance guidance: expected delivery volume will reach 59,500-63,500 units, a year-on-year increase of approximately 101.2% to 114.7%; expected total revenue will reach 12.7-13.6 billion yuan, a year-on-year increase of approximately 86.1% % to 99.3%.

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