XPeng Inc. Faces Delivery Decline While Pursuing New Model Launches and Regulatory Advocacy

XPeng Inc. (NASDAQ: XPEV, HKEX: 9868) reported a 49.9 % year‑over‑year decline in February deliveries, falling to 15,256 units. The drop coincides with the Lunar New Year period and represents a sharp contraction relative to the 29,000 vehicles delivered in the same month of 2025.

Delivery Performance

  • February 2026: 15,256 vehicles delivered worldwide.
  • Year‑over‑year change: -49.9 %.
  • Initial global rollout of the new XPeng P7+ began in February, with shipments targeted to 18 countries.
  • The decline has drawn commentary from market observers, who note that the company’s delivery start to 2026 is weaker than expected, though product refresh activity is anticipated in the coming months.

New Product Launches

  • XPeng X9 Pure Electric Edition: Introduced at a starting price of RMB 309.8 k (≈ USD 45 k). The model features 800‑V ultra‑fast charging, a Turing AI chip, active rear‑wheel steering, three‑row electric triple‑fold seats, dual zero‑gravity airbags, and a second‑generation VLA physical‑world large model.
  • Price Reduction: The X9 MPV launch included a price cut of more than USD 7,000 compared with its predecessor, aimed at boosting premium sales.
  • Model Refresh: The updated X9 is positioned to enhance XPeng’s premium lineup and support its European expansion plans.

Market Presence in Europe

  • Dutch registrations for XPeng vehicles rose in February, led by the G9 SUV, indicating growing traction in European markets.
  • The company has announced a 126 % sales increase for 2025 and is actively expanding its European footprint, as reported by multiple European automotive outlets.

Autonomous Driving Advocacy

  • XPeng’s founder and CEO, Li Xiang, has called on the Chinese government to accelerate autonomous‑driving technology development to offset slowing sales growth in the sector.
  • He intends to submit a proposal to lawmakers during China’s “two sessions” (the National People’s Congress and the National Committee of the Chinese People’s Political Consultative Conference).

Investor Sentiment

  • The company’s share price on 23 Feb 2026 closed at HKD 70.65, well below its 52‑week high of HKD 110.8 and above its 52‑week low of HKD 17.55.
  • The price‑earnings ratio remains negative at –34.955, reflecting the company’s ongoing investment in technology and market expansion.

XPeng continues to navigate a challenging delivery environment while pursuing aggressive product development and regulatory engagement to maintain its position in the competitive electric‑vehicle market.