Xpeng (NYSE:XPEV) stock is on the move Thursday after the EV company announced the delivery of 7,506 EVs during the month of May 2023.
According to Xpeng, the P7i saw a substantial increase in orders during the month compared to April 2023. Additionally, the company says it continues to expect more deliveries of the P7i during June.
Xpeng has seen its monthly deliveries increase four times in a row so far this year. Its delivery data for today continues that as it represents a 6% increase compared to the 7,079 EV deliveries in April 2023.
One thing that will help Xpeng out in the coming months is presales for its G6 Ultra Smart Coupe SUV. The EV company intends to kick off presales of this vehicle on June 9 with display versions available in its stores. It expects the G6 to be one of the most popular, bestselling models in China’s NEV SUV market among units priced between 200,000 yuan and 300,000 yuan.
XPEV Stock Movement On Thursday
And despite this positive news, shares of XPEV stock aren’t seeing much activity today. Only about 2 million shares of the stock have changed hands as of this writing. That’s well below its daily average trading volume of about 12.5 million shares.
Likewise, shares of XPEV stock are down 3.4% as of Thursday morning. It’s also down 25.6% since the start of the year.
Investors looking for more of the most recent stock market news are going to want to stick around!
We have all of the biggest stock market stories traders will want to read about on Thursday! That coverage includes why shares of CrowdStrike (NASDAQ:CRWD), Lucid Group (NASDAQ:LCID), and Fisker (NYSE:FSR) stock are on the move today. You can catch up on all of this news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
