Xpeng Motors Financial Report: Xpeng Motors' total revenue in 2024 will reach 40.87 billion yuan, up 33.2% year-on-year

Xpeng Motors released its fourth quarter and full-year financial data ending December 31, 2024. In the fourth quarter, Xpeng Motors delivered a total of 91,507 vehicles, an increase of 52.1% from 60,158 vehicles in the same period of 2023, setting a new record for single-quarter deliveries and exceeding the upper limit of the fourth quarter's 87,000-91,000 delivery guidance.

At the same time, Xpeng Motors' average monthly deliveries in the fourth quarter reached more than 30,000 vehicles, breaking the milestone of 90,000 vehicle deliveries in a single quarter.

Total revenue in the fourth quarter was RMB 16.11 billion, up 59.4% from the third quarter of 2024. Among them, automobile sales revenue was RMB 14.67 billion, up 66.8% from the third quarter of 2024.

In 2024, Xpeng Motors' total revenue reached 40.87 billion yuan, a year-on-year increase of 33.2%; the full-year gross profit margin was 14.3%, an increase of 12.8 percentage points year-on-year.

In terms of sales, Xpeng Motors delivered 190,068 vehicles throughout the year, a year-on-year increase of 34.2%.

In terms of cash reserves, the cash and cash equivalents, restricted cash, short-term investments and time deposits for the whole year of 2024 were 41.96 billion yuan, a net increase of more than 6 billion yuan from the third quarter of 2024.

In terms of delivery guidance, Xpeng is expected to deliver 91,000 to 93,000 new vehicles in Q1 2025, with total revenue in Q1 ranging from 15 billion yuan to 15.7 billion yuan.

In terms of R&D investment, Xpeng Motors invested 6.46 billion yuan in R&D in 2024, a year-on-year increase of 22.4%.

In terms of sales and service system, by 2024, the total number of Xpeng Motors sales outlets will reach 690, covering 226 cities, with an annual increase of 190. In 2024, Xpeng's self-operated charging stations will reach 1,920, including 928 Xpeng S4 and S5 ultra-fast charging stations, and 1,000 ultra-fast charging stations are expected to be added in 2025.

Zikuai Technology