China EV maker XPeng pops 10% despite posting wider than expected loss; deliveries expected to fall

Here's however it did successful the 3rd 4th of 2022, compared with Refinitiv statement estimates: 

• Revenue: 6.82 cardinal Chinese yuan ($960.9 million) versus 7.26 cardinal yuan expected. That represents a 19.3% year-on-year rise.
• Net loss: 2.38 cardinal Chinese yuan versus 2.09 cardinal yuan expected. That was wider than the 1.59 cardinal nett nonaccomplishment posted successful the aforesaid play past year, but narrower than the 2nd quarter.

XPeng delivered 29,570 electrical vehicles successful the 3rd quarter, 15% much than the aforesaid play past year. However, that was a 14% alteration from the 2nd 4th of the year.

In October, XPeng delivered 5,101 vehicles, a crisp driblet from the 8,468 cars delivered successful September.

The Guangzhou-headquartered steadfast has faced respective challenges successful caller months, including wide Covid lockdowns successful China arsenic the state battles outbreaks successful assorted cities. Like different carmakers, XPeng has been dealing with rising worldly costs, which forced the institution to hike the price of its cars earlier this year.

The institution expects to present betwixt 20,000 and 21,000 of its cars successful the 4th quarter, representing a year-over-year alteration of astir 49.7% to 52.1%.

XPeng shares person been hammered this twelvemonth and are down 85% arsenic investors turned distant from Chinese maturation stocks amid a slowdown successful the system and rising involvement rates astir the world.

A fig of analysts person chopped their people stock terms for the company. This week, Jefferies chopped its people terms connected XPeng's banal from $18.6 to $4.20.