Xpeng Motors' sales volume is lower than its competitors and faces market challenges

In 2023, Xpeng Motors achieved sales of 141,600 vehicles, a year-on-year increase of 17%, but its performance in the domestic market is still inferior to competitors such as Ideal, Weilai and Leapmotor. Xpeng Motors had set a sales target of 200,000 vehicles in 2023, but the final achievement rate was only 70.8%. In the past few years, despite Xpeng Motors' impressive revenue growth, it continued to incur huge losses, with cumulative losses of nearly 35 billion yuan from 2018 to the first three quarters of 2023. Faced with market competition pressure, He Xiaopeng is seeking to break through through technological innovation and organizational structure reform.