
XPENG expects Q1 2026 vehicle deliveries to be between 61,000 and 66,000, a year-over-year decrease of approximately 29.79% to 35.11%, with total revenues between RMB12.2B and RMB13.28B, decreasing 16.01% to 22.84%.
Bullish
XPENG achieved its first positive quarterly net profit, driven by strong revenue growth and expanded gross margins. The company also advanced its VLA 2.0 intelligent driving system and maintains a solid cash position.
Bearish
XPENG faces challenging Q1 2026 guidance with projected revenue and delivery decreases. Increased R&D and SG&A expenses, alongside a fair value loss on derivative liability, also present headwinds for the company.