XPeng Inc ADR

XPEV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$12.60	Tlxn	Nlfmvbljy

XPeng Earnings: Vehicle Margin Remains Depressed but Guided to Improve

Vincent Sun

Nov 16, 2023

XPeng reported third-quarter revenue at the low end of its guidance. Excluding inventory write-off, vehicle margin of negative 3% indicates continued pressure from price promotions amid industry competition. But management guided a margin turnaround in the fourth quarter and meaningful improvement next year on larger volume, lower battery cost, and cost reduction initiatives that have been taken.

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