Xpeng Q2 Revenue Rises 8% to 19.74 Billion Yuan as Net Loss Widens 179%
Updated
Updated · CnEVPost · Aug 24
Xpeng Q2 Revenue Rises 8% to 19.74 Billion Yuan as Net Loss Widens 179%
2 articles · Updated · CnEVPost · Aug 24
Summary
1.34 billion yuan in net loss overshadowed Xpeng's second-quarter revenue rebound, with the deficit up 179% year on year even as sales rose to 19.74 billion yuan.
20.7% gross margin improved from 17.3% a year earlier, but vehicle margin slipped to 12.1% from 14.3% during a product transition, while R&D and SG&A expenses climbed to 2.91 billion and 2.50 billion yuan.
2.70 billion yuan in services and other revenue—up 93.9%—helped lift margins, driven mainly by technical R&D services for Volkswagen and higher parts and accessories sales.
115,000 to 121,000 vehicles is Xpeng's third-quarter delivery target, implying August-September monthly deliveries of roughly 38,487 to 41,487 after 38,027 units in July.
40.48 billion yuan in cash and short-term holdings gives Xpeng funding room as it pushes new models and AI, while its Dogotix robotics unit separately secured $900 million in conditional commitments.