XPEV Stock Price Prediction: Surges to start the year on record monthly sales numbers

NYSE:XPEV gains 2.97% despite a broader market sell-off to start the week.
XPeng announces a new monthly record for vehicle deliveries in December.
XPeng confirms new commitment to lidar sensors in its 2021 models with Livox.

NYSE:XPEV kicked 2021 off with a bang as the Chinese electric vehicle maker rose by 2.97% alongside an EV industry rally after most major players reported record monthly vehicle sales. XPEV closed the first trading session of the new year at $44.10 despite global financial markets opening the year in the red. It was a rocky end to 2020 for Chinese companies who trade on American exchanges as allegations of fraud and a clampdown on non-U.S. sales reporting caused some ire with the Chinese government.

XPeng reported another record sales month for its popular cars in China as it delivered 12,964 vehicles which is up 303% year-over-year from December of 2019, and up 51% from the previous quarter in 2020. This surge in December deliveries gives XPeng 27,041 for the entire year which represents a further 112% increase over the number of vehicles delivered in 2019. XPEV was not the only company to do well in the last month of 2020 as rivals Tesla (NASDAQ:TSLA), NIO (NYSE:NIO), and Li Auto (NASDAQ:LI) all reported their own record monthly delivery numbers. As a result, all of these stocks saw a nice boost on Monday amidst the broader sell-off.

XPeng stock price news

XPeng had a nice year in 2020 and the stock is still 40% below its 52-week high price of $74.49. The added benefit of Chinese government subsidies to citizens who purchase Chinese-made electric vehicles has certainly helped to spike interest in XPeng as well as NIO and Li. XPeng has already started its European expansion and Nio is set to join them later this year.

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