XPeng Inc Class A

09868: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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XPeng Earnings: Soft Vehicle Margins Led to Profit Miss; Volume Outlook Disappoints

Vincent Sun

Aug 25, 2026

XPeng's second-quarter revenue was at the low end of guidance. Vehicle margin was largely flat sequentially but narrowed to 12% from 14% a year ago, which we attribute to higher raw material costs and retail discounts ahead of next-generation model launches.

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XPeng Inc Class A

XPeng Earnings: Soft Vehicle Margins Led to Profit Miss; Volume Outlook Disappoints

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