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(Bloomberg) — Xpeng Inc.’s first-quarter revenue forecast fell short of estimates as a slump in Chinese vehicle demand hurt deliveries at the start of the year. That overshadowed the automaker posting its first-ever quarterly profit at the end of 2025.
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The company expects sales of 12.2 billion yuan ($1.77 billion) to 13.3 billion yuan during the period, according to a Friday filing, missing the 15.7 billion-yuan consensus.
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Expected vehicle deliveries also fell short, with the automaker forecasting 61,000 to 66,000 units for the current quarter. The company had a tough start to the year, with deliveries in January and February slumping 40% from a year earlier.
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Fourth-quarter net income reached 383 million yuan, compared with a 45.3 million-yuan loss projected by analysts.
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Chinese automakers are bracing for a weaker electric-vehicle market this year as a rollback in government subsidies hurts demand. Retail passenger vehicle sales fell 25% year-on-year in February, with new energy vehicles, including both plug-in hybrids and battery-electric models, posting an even deeper decline, according to the China Passenger Car Association.
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Chairman He Xiaopeng remains upbeat about the company’s artificial intelligence-related ventures, expecting to commence mass production of humanoid robots, flying cars and robotaxis this year. Its first vehicle jointly developed with Volkswagen AG has rolled off the production line, while Stellantis NV is also exploring deals with the company, Bloomberg News reported earlier this month.
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“We continue to push the boundaries of Physical AI, accelerating the mass production and commercialization of product innovations as we expand our global footprint,” Chairman He said in the statement. “I believe Xpeng is at a historical inflection point.”
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—With assistance from Chunying Zhang.
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English (US)