Xpeng delivered 21,821 vehicles in the first quarter, slightly above the lower end of the guidance range of 21,000 - 22,500 vehicles.

Xpeng (NYSE: XPEV) will report unaudited financial results for the first quarter of 2024 before the US stock market opens on Tuesday, May 21, the company announced today.

The electric vehicle (EV) maker delivered 21,821 vehicles in the first quarter, an increase of 19.7 percent year-on-year, but a decrease of 63.73 percent from the fourth quarter of 2023, published data show.

The first quarter of the year is a slow season for vehicle deliveries, as the Chinese New Year holiday usually arrives in January or February, causing disruptions to production.

Xpeng's deliveries in the first quarter were slightly above the lower end of its guidance range of 21,000-22,500 units.

The company guided first-quarter revenue to be in the range of RMB 5.8 billion to RMB 6.2 billion when it announced its fourth-quarter 2023 results on March 19, representing an increase of about 43.8 percent to 53.7 percent year-on-year.

It reported record revenue of RMB 13.05 billion in last year's fourth quarter on record vehicle deliveries of 60,158 units.

Xpeng reported a gross margin of 6.2 percent in the fourth quarter of 2023, reversing two consecutive negative quarters.

The company reported a fourth-quarter net loss of RMB 1.35 billion in the fourth quarter, a decrease of 42.90 percent year-on-year and down 65.33 percent from the third quarter.

Xpeng's management will hold an earnings call on May 21 starting at 8 pm Beijing Time (8 am US Eastern Time).

Participants wishing to join the call via telephone may complete a pre-registration by visiting the link provided below.

Pre-registration link: https://s1.c-conf.com/diamondpass/10038698-t61b9s.html

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