Quarterly vehicle deliveries increased 98% Y/Y to 34,422.
P7 smart sports sedan deliveries rose 39% to 15,983, and P5 smart family sedan deliveries were 12,848.
The gross margin for the quarter contracted 100 basis points to 10.9%. Vehicle margin contracted 190 basis points to 9.1%, mainly attributable to the battery cost increase.
The operating loss for the quarter was RMB(2.09) billion or $(312.1) million versus a loss of RMB(1.44) billion last year.
The company held $6.2 billion in cash and equivalents as of June 30, 2022.
The net loss was RMB(2.7) billion or $(403.2) million. Non-GAAP net loss per ADS was RMB(2.88) or $(0.43) for the second quarter of 2022.
"We are on track for the official launch of our flagship G9 SUV in September 2022," said Chairman and CEO He Xiaopeng.
Total deliveries reached 11,524 vehicles in July 2022, representing a 43% increase year-over-year.
Outlook: XPeng sees Q3 vehicle deliveries of 29,000 – 31,000.
The company expects Q3 revenue of RMB6.8 billion - RMB7.2 billion, representing a Y/Y increase of 18.9% - 25.9%.
Price Action: XPEV shares are trading lower by 3.81% at $20.20 in premarket on the last check Tuesday.
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