On March 1st, Xpeng Motors released the February 2024 delivery data. Data show that in February 2024, a total of 4,545 new cars were delivered, down 24% year-on-year and 45% quarter-on-quarter, of which 1,448 were delivered. In January and February this year, Xpeng Motors delivered a total of 12,795 vehicles, compared with 11,228 vehicles in the same period last year, an increase of 14%.
Previously, in February, Tucki offered limited-time discounts for the 2023 and 2024 models, and adjusted the price of P7i several times, and recently lowered the price of Pengyi Performance Edition by 50,000 yuan to 289,900 yuan. However, these price reduction strategies seem to have failed to significantly increase the sales of G6 and G9.
There are six models currently on sale in Xpeng Motors, including three models, Tucki G6 and Tucki G9, two cars and a Tucki X9. Tucki X9 delivered 1,448 vehicles in February this year, and delivered nearly 4,000 vehicles in February, continuously leading the market of pure electric and pure electric three-row vehicles. With the production capacity climbing after the Spring Festival and the solution of individual supply chain bottlenecks, the production capacity of Tucki X9 will be greatly improved and the delivery will be accelerated from March.
On February 29th, Xpeng Motors pushed the unlimited XNGP intelligent assisted driving function to users with intelligent driving experience, which is no longer restricted to cities and routes, and can be used nationwide. In addition, the monthly active user penetration rate of XNGP Urban Smart Drive reached 83% in February, ranking first in the industry in terms of active user scale, user experience and mileage penetration rate.
During the period of Spring Festival travel rush, the mileage of Tucki car owners using the smart driving function showed explosive growth. From January 26 to February 26, the total mileage of Tucki owner Spring Festival travel rush’s intelligent driving reached 69,777,180 kilometers, the maximum mileage of intelligent driving in a single day was close to 4 million kilometers, and the maximum mileage of intelligent driving in a single day was nearly 1,800 kilometers.
In the process of accelerating the overall cooperation of going to sea 2.0 and globalization, Xpeng Motors announced on February 22nd that it has reached a strategic cooperation with dealer groups in five countries in the Middle East and Africa, such as the United Arab Emirates and Egypt, and will start listing in five countries in the Middle East and Africa in the second quarter and deliver a number of models. On February 29th, it signed an agreement with audi ag on strategic and technical cooperation and joint development of platform and software to accelerate the joint research and development of two B-class vehicles.
2024 is the tenth year of the founding of Xpeng Motors, and the company has set the goal of more than doubling its performance. In order to achieve the sales target, Tucki plans to launch about 30 new products or modified models within three years. In 2024, it will increase investment, recruit about 4,000 people, and invest more than 40% of the R&D budget, of which the R&D investment in AI technology will reach 3.5 billion yuan.
Xpeng Motors’s sales target this year is 280,000 vehicles. In 2023, Xpeng Motors will deliver a total of 141,600 vehicles, with a target completion rate of just over 70%. At the beginning of this year, Xpeng Motors sold 12,795 vehicles in the first two months. To achieve the 24-year sales target, it will sell nearly 27,000 vehicles in the remaining ten months. Despite the influence of Spring Festival holiday and product line adjustment in the first two months, the sales performance of each company is very average. However, judging from the current market performance of Tucki, the situation it faces is very severe. If there is no obvious improvement in sales volume, there is a great chance that this year’s goal will not be achieved.
