Market Analysis | XPeng Motors-W drops more than 4% intraday, multiple recent price cuts, weak short-term sales performance
XPeng Motors-W fell more than 4% during trading hours. As of the time of writing, it dropped by 2.98% to HKD 27.65, with a turnover of HKD 2.54 billion. On the news front, XPeng Motors has been frequently lowering prices recently. On April 20th, XPeng announced the launch of a limited-time HKD 500 million car purchase subsidy from now until May 5, 2024, covering four models including XPeng G9, G6, P7i, and the 2024 version of XPeng P5. Previously on April 11th, XPeng introduced the G6 580 Long Range Plus version with a starting price of HKD 179,900 for all models. The older version of the P7 model has seen a price reduction of nearly HKD 100,000. Guotai Junan Securities recently pointed out that sales recovery progress of the company during the period from March 4th to April 14th was weaker than expected. The average weekly sales volume in March was about 2,100 vehicles, but in the first two weeks of April, it dropped to an average of 1,200 and 1,600 vehicles, showing a significant decline in sales performance in the short term. In addition, according to Yiche data, XPeng Motors' sales volume rebounded to 2,512 vehicles in the third week, showing a significant increase compared to the previous period
According to the information from Zhitong Finance and Economics APP, XPeng Motors-W (09868) fell more than 4% intraday. As of the time of publication, it dropped by 2.98% to HKD 27.65, with a turnover of HKD 2.54 billion.
On the news front, XPeng Motors has been frequently lowering prices recently. On April 20, XPeng announced a time-limited car purchase subsidy of 500 million yuan from now until May 5, 2024, covering four models including XPeng G9, G6, P7i, and the 2024 version of XPeng P5. Previously on April 11, XPeng launched the G6 580 Long Range Plus version with a starting price of 179,900 yuan for all models. The older version of the P7 model has seen a price reduction of nearly 100,000 yuan.
China Merchants Securities recently pointed out that sales recovery progress of the company from March 4 to April 14 was weaker than expected. The average weekly sales volume in March was about 2,100 vehicles, but in the first two weeks of April, it dropped to an average of 1,200 and 1,600 vehicles, showing a significant decline and weak short-term sales performance. In addition, according to data from Yiche, XPeng's sales volume in the third week rebounded to 2,512 vehicles, showing a significant increase compared to the previous period