On December 2nd, the legal department of @ Xiaopeng Motors issued a statement stating that they have recently noticed that some former Xiaopeng employees are still accepting paid interviews from some securities firms under the identity of Xiaopeng Motors employees, and have fabricated a large amount of false and erroneous information.
The company solemnly declares that all public information of Xiaopeng Motors is released through official and legitimate channels, and any unauthorized interviews and information releases do not represent the company's position. The company will take legal action to safeguard the legitimate rights and interests of the enterprise and investors. At the same time, securities firms are reminded to verify the identity of the interviewee and whether they have been authorized by the company to disclose information to the public before the interview, in order to avoid being misled by false information or being held legally responsible for infringing on the company's trade secrets.
On December 1st, major new energy vehicle companies successively released delivery data for November 2024.
According to data released by Xiaopeng Motors, a total of 30895 new cars were delivered in November 2024, a year-on-year increase of 54% and a month on month increase of 29%. It is reported that this is the first time that Xiaopeng Motors' monthly delivery volume has exceeded 30000 units, setting a new record for monthly delivery for three consecutive months.
Among them, the Xiaopeng MONA M03 has delivered over 10000 vehicles continuously within 3 months of its launch; Xiaopeng P7+has been released for 23 days, with a delivery volume of over 7000 vehicles.
In the first 11 months of 2024, Xiaopeng Motors delivered a total of 153400 new cars, a year-on-year increase of 26%.
On November 19th, Xiaopeng Motors released its unaudited financial performance for the third quarter of 2024. According to the financial report, in the third quarter of 2024, Xiaopeng Motors' total revenue was 10.1 billion yuan, an increase of 24.5% compared to the second quarter of 2024. During the reporting period, Xiaopeng Motors' sales revenue was 8.8 billion yuan, a year-on-year increase of 12.1% and a month on month increase of 29.0%; Service and other revenue amounted to 1.31 billion yuan, a year-on-year increase of 90.7% and a month on month increase of 1.1%.
In terms of gross profit margin, in the third quarter of 2024, Xiaopeng Motors' gross profit margin reached a historic high of 15.3%, an increase of 18 percentage points compared to the same period in 2023. Gu Hongdi, Vice Chairman and Co President of Xiaopeng Motors, stated that the comprehensive realization of technology cost reduction and the significant month on month growth in scale are the key reasons driving Xiaopeng Motors' gross profit margin increase in the third quarter.
Despite exceeding expectations in revenue and gross profit margin, Xiaopeng Motors continued to suffer losses in the third quarter, with a loss of 1.81 billion yuan, a contraction from the loss of 3.89 billion yuan in the same period last year.
On November 30th, the latest "China Automobile Dealers Inventory Warning Index Survey" VIA released by the China Automobile Dealers Association showed that the inventory warning index of Chinese automobile dealers in November 2024 was 51.8%, a year-on-year decrease of 8.6 percentage points and a month on month increase of 1.3 percentage points. The inventory warning index is approaching the boom bust line, and the prosperity of the automotive circulation industry continues to improve.
The China Automobile Dealers Association stated that thanks to the promotion of national policies and the effective implementation of subsidy policies in various regions, especially the subsidy encouragement of replacement policies and scrap renewal policies, as well as the efforts of car manufacturers and dealers to strive for annual sales targets, the promotion activities of the "Double 11" shopping festival and the successful Guangzhou Auto Show have injected strong vitality into the car market in November, driving up sales in the car market.
For the December market, the China Automobile Dealers Association stated that as the end of the year approaches, the heat of the automobile market continues to rise. Car manufacturers and dealers are working hard to achieve sales targets, increasing promotional efforts and accelerating sales pace to promote sales growth. In addition, the current round of scrapping updates and the policy of exchanging old for new will end at the end of December, and coupled with the early arrival of the Spring Festival in January, it is expected that the "tail up market" will be more prominent in December.
The China Automobile Dealers Association stated that overall, dealers are optimistic about the continued recovery of the automotive market. A survey shows that nearly 30% of dealers expect the passenger car market to achieve a growth of about 5% in 2024.
Daily Economic News Comprehensive @ Xiaopeng Automotive Legal Department