XPeng Announces Growth in Deliveries; Street Says Buy

This article was originally published on TipRanks.com

One of the leading EV stocks XPeng Inc. (NYSE: XPEV) recently announced its vehicle delivery results for December 2021 and the fourth quarter of 2021. The encouraging results can be attributed mainly to the growth witnessed in the deliveries of smart electric vehicles.

Details of Deliveries

In 2021, while the company witnessed a year-over-year rise of 263% in total deliveries to 98,155, its fourth-quarter deliveries of 41,751 vehicles denote an increase of 222% from the prior year.

Specifically, the delivery of smart EVs witnessed a sharp rise of 181% year-over-year to 16,000 in December 2021. While the delivery of P7 smart sports sedans stood at 7,459 (up 102% from the prior year), the company delivered 5,030 P5 smart family sedans (up 102% year-over-year). Meanwhile, as many as 3,511 G3 and G3i smart SUVs were also delivered in December.

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Analyst Ratings

Consensus among analysts is a Strong Buy based on 5 unanimous Buys. The average XPeng stock price prediction of $62.96 implies upside potential of 25.1% from current levels. Shares have gained 14.1% over the past year.

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