XPeng delivers 103,295 vehicles in Q2, driven by strong Mona and GX SUV sales.

XPeng delivered 103,295 vehicles in Q2, exceeding its guidance midpoint, with strong sales of the Mona model and the new GX SUV launched in May. Mona-branded vehicles made up 36% of June deliveries, while the GX SUV accounted for 17%, supporting expectations for improved gross margins next quarter. Despite a higher price-to-revenue ratio than peers, recent revaluation enhances XPeng's risk/reward profile. The company's solid June growth and GX execution position it well for margin gains, even as competitor NIO grows faster.