XPeng (NYSE:XPEV) announced its vehicle deliveries of 9,393 Smart EVs for April, a 33% increase year-over-year and 4% growth from March. In April, XPeng delivered 1,959 units of the X9, with overall cumulative deliveries nearing 10,000 since its launch.
As a result, the X9 remained China’s top-selling all-electric multipurpose vehicle (MPV). Year-to-date, the Chinese EV major has delivered 31,214 Smart EVs, up 23% year-over-year. Furthermore, in April, the company’s XNGP urban driving user penetration rate hit 82%. XNGP is XPeng’s advanced driver assistance system (ADAS).
In April, the company successfully conducted tests for XNGP on the highways in Germany, making steady progress toward the rollout of its ADAS system in international markets.
Is XPEV Stock a Good Buy?
Analysts remain cautiously optimistic about XPEV stock, with a Moderate Buy consensus rating based on eight Buys, four Holds, and two Sells. Year-to-date, XPEV has declined by more than 40%, and the average XPEV price target of $12.64 implies an upside potential of 55.5% from current levels.
