XPeng Inc. (NYSE:XPEV) delivered a milestone quarter, swinging to profit and posting robust growth, but a revenue miss and a sharply weaker outlook signaled mounting pressure from a cooling Chinese EV market.
Revenue Growth And Deliveries
The company delivered 22.25 billion Chinese yuan ($3.18 billion) in quarterly revenue, a 38.2% year-over-year (Y/Y) jump that landed just shy of the $3.32 billion analyst consensus forecast.
The Tesla Inc. (NASDAQ:TSLA) rival’s quarterly vehicle deliveries increased 27.0% Y/Y to 116,249.
XPeng’s physical sales network had 721 stores, covering 255 cities as of December 31, 2025.
XPeng’s self-operated charging station network reached 3,159 stations as of December 31, 2025, including 2,108 XPENG ultra-fast charging stations.
Margins, Profitability, And Balance Sheet
Revenues from vehicle sales increased 30.0% Y/Y to 19.07 billion Chinese yuan ($2.73 billion) due to higher deliveries.
Gross margin was 21.3% versus 14.4% a year ago.
Vehicle margin was 13.0% versus 10.0% a year …