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XPeng monthly deliveries slump 42% – what’s next for XPEV stock?

On May 1, XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle (EV) company, announced On May 1 its vehicle delivery results for April. Notably, deliveries totaled 9,002 smart EVs, representing a 41.6% decline month-over-month (MoM).  

Out of the total number of cars delivered, 3,714 were smart sport sedans, 3,564 P5 smart family sedans, and 1,724 G3i and G3 smart compact SUVs. 

Though the MoM deliveries are down, the year-over-year (YoY) deliveries have increased by 136%; meanwhile, Covid lockdowns are straining the supply chains possibly causing issues for the manufacturing and delivery of vehicles across China. 

Other Chinese EV companies also reported a drop in deliveries, with Xpeng’s being the smallest overall. 

Can XPEV stock recover 

Shares of the company have had a hard time since December 2021, trending slowly but slowly downward. Strong volumes were seen towards the end of March, which represented another selling pressure, pushing the stock below all daily Simple Moving Averages

Currently, the shares seem to be recovering, but the first real test will be around the $27 mark; if the shares can break above, more upside could be had.

 XPEV 20-50-200 SMA lines chart. Source. Finviz.com data. See more stocks here.

Apart from the share performance, analysts still give the shares a strong buy rating believing that in the next 12 months, the average price for shares will be $45.16. According to these predictions, the shares could run up 83.50% compared to the current trading price of $24.61. 

Source: TipRanks

Though the company seems to be struggling to increase monthly deliveries, it is still navigating its way around lockdowns and has had the smallest drop in deliveries compared to its other Chinese EV rivals like Nio (NYSE: NIO) and Li Auto (NASDAQ: LI). 

Currently, the investing environment for EVs and high-flying tech stocks, in general, is pretty tough; investors not in these stocks would be well advised to continue monitoring macro trends. Whether XPEV can turn around the slow down in auto-deliveries and buck the trend of investors seemingly leaving tech stocks remains to be seen.   

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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