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Xpeng Nails Excellent Results on 62% Sales Growth with Margins 
XPeng Inc. (NYSE: XPEV) is a leading Chinese smart electric vehicle (EV) maker primarily serving the Chinese domestic market. The company is focused on the mid to high-end market with its premium EVs outfitted with advanced driver-assistance systems (ADAS) integrated with connectivity, interactive, user-friendly and cutting-edge technology. XPeng continues to build out its autonomous driving technology in-house. XPeng competes in the Auto/Tires/Trucks sector with competitors including Tesla Inc. (NASDAQ: TSLA), NIO Inc. (NYSE: NIO), Li Auto Inc. (NASDAQ: LI) and BYD Co. Ltd. (OTCMKTS: BYDDY). Is there a HUGE hidden income opportunity within Apple stock?
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And it’s all based on a “twist” on income trading hidden right inside one of the top stocks ever. Tap Here to Learn MoreXPeng Plans to Expand Its Worldwide Footprint of Dealerships, Except in the U.S. XPeng has expanded its footprint, establishing dealer partnerships in Denmark, Sweden, Norway, The Netherlands, the United Arab Emirates (UAE), Egypt, Azerbaijan, Jordan and Lebanon. The company plans to expand into additional European markets in 2024, including the UK, Germany, Italy and France. However, the 1 market Xpeng has no intention of entering the United States, with its prohibitive 100% tariffs and threats of even more tariffs to come. XPeng Enters the Flying Car Market. Xpeng is involved with flying cars through its affiliate XPENG AEROHT, which has also joined forces with Autoliv Inc. (NYSE: ALV) China. The affiliate is focused on the research, development, and manufacturing of electric cars, also called electric vertical takeoff and landing (EVTOL) vehicles. The company plans to offer flying car options for short-distance transportation within cities. A prototype flying car, the XPeng X2, has been developed and has completed successful public flights. Rather than just flying cars, XPeng plans to design the XPeng X2 to also function as a regular EV where its wings can fold and drive on roads as needed. 
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And right now governments around the world are stockpiling this resource at the fastest rate in DECADES! And how YOU can prepare for the next 2024 BOOM here! XPEV is Forming a Symmetrical Triangle Pattern The daily candlestick chart on XPEV illustrates a symmetrical triangle pattern. This pattern comprises converging trendlines, with the upper descending trendline connecting the lower highs on bounces and the lower ascending trendline connecting the higher lows on pullbacks. XPEV made an initial breakout on its Q1 2024 earnings release, surging to $10.47, but was pulled right back down under the upper trendline at $9.02. As XPEV moves closer to the apex point, it will inevitably break out through the upper or lower trendlines. The daily relative strength index (RSI) has been chopping around the 50-band. Pullback support levels are at $7.65, $6.55, $5.56 and $5.09. Revenues up 62.3% as Margins Improve and Losses Shrink XPeng reported Q1 2024 revenues of $910 million, up 62.3% YoY. However, it was a 49.8% sequential drop from Q4 2023. Vehicle sales revenues were $770 million, up 57.8% YoY. The gross margin was 12.9% in Q1, a vast improvement from 1.7% a year ago. Vehicle margin also improved to 5.5%, up from negative 2.5% in the year-ago period. Net loss was $190 million or a diluted EPS loss of 21 cents, beating consensus estimates by 4 cents in Q1 2024. The company closed the quarter with $5.73 billion in cash and cash equivalents. April and May Deliveries April deliveries were 9,393 vehicles, bringing the total year-to-date (YTD) deliveries to 31,214. On June 3, 2024, XPeng reported a 25% YoY jump in its May 2024 deliveries of 10,146 smart EVs. The XPeng X9 achieved monthly deliveries of 1,625 vehicles for a cumulative total of 11,456 units. Since its launch, it has held the top selling position in all-electric MPA and 3-row model segments in China. XPeng's total YTD deliveries rose 26% YoY to 41,360 units. Forward Guidance for Xpeng XPeng expects vehicle deliveries in Q2 2024 between 29,000 to 32,000, representing a YoY increase of 25% to 37.9%. Total revenues are expected to be between $1.03 billion to $1.15 billion. The Volkswagen Partnership is Paying Off XPeng CEO Xiaopeng He commented, “XPENG took the lead in the mass production and application of AI-based large models within the China automobile industry. We are confident that we can launch competitive models globally more efficiently and thus spearhead the widespread adoption of AI-powered smart cars.” He concluded with comments regarding the successful partnership with Volkswagen AG (OTCMKTS: VWAGY), “Through our strategic partnership with the Volkswagen Group, XPENG is at the forefront of monetizing in-house developed smart technologies as a technology enabler. Our industry-leading technologies are expected to gain greater market influence and yield better financial returns.” XPeng analyst ratings and price targets are on MarketBeat. Written by Jea Yu Read this article online › Further Reading: | 