Zhitong App learned that XPENG-W (09868) fell nearly 6%, hitting a new low of HKD 32.25 since June 2023. As of the time of writing, it dropped 5.38% to HKD 32.55, with a turnover of HKD 195 million.
In terms of news, according to the sales data from DCD, XPENG-W's sales in the first three weeks of 2024 fell by 46%/71%/54% respectively compared to the same period last year, and the total sales in the first three weeks fell by 59%, showing a poor performance. Among them, the flagship model G6's weekly sales dropped from about 1,500 vehicles to only about 400 vehicles, and other models such as G9, P7, and P5 also experienced significant declines in sales.
On the evening of January 23rd, XPeng officially announced the latest price of the XPENG-W P7i model. The Performance Edition of the P7i was launched with a limited-time comprehensive discount price of CNY 289,900, which is CNY 50,000 lower than the previous price of CNY 339,900. Prior to this, XPeng had already experienced multiple rounds of price reductions, especially with three price reductions within the previous month. CICC believes that 2024 will be a more challenging year for the new energy passenger vehicle market. The bank believes that XPENG-W may struggle to stand alone and its gross margin recovery may fall short of market expectations.

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BOCOM INTL believes that 2024 will be a more challenging year for the new energy passenger vehicle market. The bank believes that XPENG-W may struggle to stand alone and that its gross profit turnaround may fall short of market expectations.

Understanding the Market | Why did XPeng-W drop nearly 6%?