Automotive Author: Contributor, Phate Zhang Editor: Luke Sheehan Jan 04, 2022 04:00 PM (GMT+8)

The stock lifted 5% on the first trading day on the Hong Kong market.

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XPeng Motors saw a rise of precisely 180.7 percent from 5,700 in the same month last year and up 2.5 percent from 15,613 in November, according to figures released by the company today.

XPeng's flagship sedan, the P7, delivered 7,459 units in December and a cumulative total of 60,569 units for 2021, representing 62 percent of total deliveries for the year.

The XPeng P5 delivered 5,030 units in December, a new high since deliveries of the model began in October.

XPeng G3 series delivered 3,511 units in December and 29,721 units cumulatively in 2021, an increase of 148 percent year-on-year.

In the fourth quarter, XPeng delivered 41,751 vehicles, up 222 percent from 12,964 vehicles in the same period last year and up 62.7 percent from 25,666 vehicles in the third quarter.

XPeng's previous guidance for fourth-quarter deliveries was 34,500-36,500 vehicles, and the latest figure exceeds the upper end of that range.

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The company delivered 98,155 vehicles for the full year 2021, up 263 percent from 27,041 in 2020.

By the end of 2021, XPeng's cumulative deliveries exceed 130,000 units, the company said.

China's purchase subsidies for new energy vehicles (NEVs) will be reduced by 30 percent from 2021 levels starting January 1, 2022, based on the date the vehicle receives its license plate after delivery.

That means that for many consumers who place orders before the end of the year, they won't be able to take advantage of the higher subsidies in 2021 if they don't get deliveries until 2022.

However, XPeng previously said that it will continue to offer the same subsidy amount as in 2021 for consumers who pay their deposits by 24:00 on January 10, 2022.

Notably, rumors surfaced in early December that XPeng's three currently available models, the G3i, P5, and P7, would have their purchase benefits for customers reduced by about half. Auto-time later cited sources at the company who confirmed that these rumors were true.

Starting December 13, new customers will have their purchase benefits package and purchase loan benefits reduced after placing an order, the report said, citing salespeople at XPeng stores.

XPeng's benefit package for P7 buyers will be reduced by CNY 5,000-10,000, P5 by CNY 4,000 and G3i by CNY 5,000, and most models will no longer offer 0-interest or low-interest loan packages, according to the report.


This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.

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