XPeng Motors has fallen so far behind its own sales target of 280,000 vehicles in 2024 that many started wondering where they are headed.

However, the company’s fortunes began to change in late August with the official launch of the MONA series and the introduction of its first sub-series vehicle, the M03.

In September, wholesale sales blew past 20,000 for the first time since December 2023 and MONA is every reason behind it.

Within just 48 hours of its release, the XPeng MONA M03 garnered over 30,000 orders. In its first month of production ramp-up, XPeng successfully delivered over 10,000 units of the new car, which is one of if not the most impressive manufacturing ramp up we’ve seen.

Automotive blogger @孙少军09 revealed that in the second week of September, XPeng’s weekly new orders exceeded 16,000, with sales increasing across all models.

The following week, new orders continued to surpass 12,000, with the G6 model alone selling over 4,000 units.

By the end of September, XPeng Motors had delivered 21,352 vehicles in a single month, marking a nearly 40% year-on-year increase and a 52.12% month-on-month growth from August.

This achievement set a new monthly delivery record for the brand, with the newly launched MONA M03 alone accounting for over 10,000 deliveries.

XPeng’s product lineup currently includes four major vehicle platforms: the H platform (X9), E platform (P7, G9), F platform (G6, P7+), and D platform (G3, P5, MONA).

At the moment, XPeng sells vehicles across several European countries, in addition to Thailand, Australia, right-hand drives to Hong Kong, and soon in Qatar as the first stop of its Middle East expansion.

With the fierce competition at home, XPeng has been increasing its footprint to diversify its exposure, with exports accounting to nearly 18% of total sales in August 2024.

At the beginning of 2024, exports only represented 4.6% of total sales, but since debuting the XPeng G6, which is directly competing with the Tesla Model Y, XPeng has seen new highs.

In August, total exports reached 2,500 units and we can expect that figure to grow significantly with the MONA series.

This year, XPeng has already launched two of its three most important new cars: the H platform’s first new car, the X9, and the MONA M03 sub-series.

The third major new car, the P7+, will debut on October 10 and is expected to be released in the fourth quarter.

Source: XPeng Motors

XPeng recently launched a new version of the X9, adding a new SKU—the 610 Long Range Max version. This addition has expanded the X9’s model configuration to five options, with prices ranging from 359,800 to 419,800 CNY.

The introduction of the 610 Long Range Max version has effectively lowered the entry price for XPeng’s high-end intelligent driving versions by 20,000 CNY, creating a dual-entry configuration with the 610 Long Range Pro.

The X9 holds special significance for XPeng. It was the first car in the industry to be equipped with rear-wheel steering as a standard feature, and it played a crucial role in halting XPeng’s downward trend during its most challenging times.

In 2023, XPeng Motors delivered over 141,600 new cars, with total revenue growing by approximately 14.22% to 30.676 billion CNY. However, net losses also increased by nearly 13.6% to 10.38 billion CNY.

Despite these challenges, the launch of the X9 helped stabilize XPeng’s average vehicle price, which remained at 229,000 CNY by the second quarter of this year.

The X9’s success has also boosted XPeng’s intelligent driving system penetration, with the Max version accounting for 73% of sales and an overall intelligent driving penetration rate of 99%.