What happened
Shares of Chinese electric-vehicle maker Xpeng (XPEV 10.95%) were trading higher on Monday after the company reported record deliveries in December.
As of 11:52 a.m. EST, Xpeng's American depositary shares were up by about 8.7% from Friday's closing price.
So what
Xpeng said that it delivered 5,700 vehicles in December 2020, up from 4,224 in November and an increase of 326% from December 2019. Of that total, 3,691 were P7 sedans -- another sales record for the model -- and 2,009 were the company's compact G3 SUVs.
Since its launch in late June, the Xpeng P7 has become something of a hit product in the upscale-electric-vehicle niche that is catered to by rivals Tesla, NIO, and Li Auto in China. Xpeng delivered just over 15,000 P7s in 2020, and recently introduced a limited-edition "Wing" version to boost consumer interest.
Xpeng's limited-edition P7 Wing has Lamborghini-like "wing" front doors. Image source: Xpeng.
Why was Xpeng's stock trading higher Monday morning? Because those are all good numbers.
Now what
Xpeng is expected to report its fourth-quarter and full-year financial results to auto investors in mid-February. If the company's sales figures are any indication, the results should be good: For the fourth quarter, Xpeng delivered 12,964 vehicles, up 303% year over year and up 51% from Q3 2020.
For the full year, Xpeng delivered 27,041 vehicles, up 112% from 2019.
