XPeng (NYSE:XPEV) issued lower-than-expected Q3 revenue guidance, pushing its shares 1% lower in the premarket trade.
For the fiscal Q2, the electric vehicle (EV) maker posted a loss per share of 0.65 yuan, notably better than the anticipated loss per share of 1.70 yuan.
The company's revenue for the quarter reached 8.11 billion yuan, slightly below the consensus estimate of 8.19 billion yuan.
XPeng delivered 30,207 vehicles during the quarter, just under the forecast of 30,933 units.
The gross margin stood at 14%, surpassing the expected 12.7%, while the operating loss was reported at 1.61 billion yuan, narrower than the estimated loss of 1.95 billion yuan.
Looking ahead, XPeng provided guidance for the third quarter of 2024, forecasting revenue in the range of 9.1-9.8 billion yuan, which falls short of the average analysts' estimate of 10.58 billion yuan.
The company also expects to deliver between 41,000 and 45,000 vehicles, compared to the estimated 44,727 units.
“Starting from the launch of MONA M03 in August, we are about to enter into a strong product cycle. In the next 3 years, we will have a large number of new models and facelift versions in the pipeline for market launch,” said Mr. Xiaopeng He, Chairman and CEO of XPENG.
“I believe that through a powerful product cycle and more efficient marketing, the technological advantages we have accumulated through a long period of time and the breakthroughs we have achieved in AI will be transformed into sales growth in China and the international market.”