XPeng Posts 79% YoY Narrowing in Q3 Net Loss to $53.2m

XPeng delivered a total of 116,007 vehicles in 2025 Q3, up 149.3% YoY and 12.4% QoQ, setting a new quarterly delivery record.

XPeng reported its unaudited financial results for the third quarter of 2025 on November 17, posting record performance across revenue, gross margin, deliveries and cash reserves, while continuing to narrow losses.

Total revenue reached RMB 20.38 billion ($2.85 billion), up 101.8% year-on-year and 11.5% quarter-on-quarter, marking the highest quarterly revenue since the company’s listing.

Net loss for the third quarter was RMB 380 million ($53.2 million), compared with a loss of RMB 1.81 billion ($253.4 million) a year earlier, narrowing 79% year-on-year and 20.8% quarter-on-quarter. Gross margin rose to 20.1%, up 4.8 percentage points from last year, with vehicle gross margin at 13.1%.

As of September 30, XPeng held RMB 48.33 billion ($6.77 billion) in cash, restricted cash and short-term investments, up RMB 760 million ($106.3 million) from the previous quarter and reaching a record high.

XPeng delivered a total of 116,007 vehicles during the quarter, up 149.3% year-on-year and 12.4% quarter-on-quarter, setting a new quarterly delivery record.

Growth was supported by the rollout of a new product cycle and accelerating expansion of the charging network.

By the end of September, the company operated 690 retail stores across 242 cities and 2,676 self-operated charging stations, including 1,623 S4 and S5 ultra-fast charging stations.

XPeng’s overseas business also expanded significantly. In September, the company entered five new markets: Switzerland, Austria, Hungary, Slovenia and Croatia. Overseas deliveries totaled 29,706 units from January to September 2025, rising more than 125% year-on-year.

Looking ahead to Q4, the company expects deliveries between 125,000 and 132,000 units, up 36.6% to 44.3% year-on-year.

Revenue is forecast to range from RMB 21.5 billion ($3.01 billion) to RMB 23.0 billion ($3.22 billion), representing growth of approximately 33.5% to 42.8%.