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Tag: car retail

  • Xpeng Schedules Third-Quarter Results After Delivering Record 118,390 EVs

    Xpeng Schedules Third-Quarter Results After Delivering Record 118,390 EVs

    Xpeng will report its unaudited third-quarter financial results on November 16, following record quarterly deliveries of 118,390 electric vehicles across China.

    Volume rose 2.05 percent from the same period last year and climbed 14.61 percent sequentially from the second quarter, edging past the midpoint of the company’s August target.

    The carmaker plans to host its earnings call at 8:00 pm Beijing time on November 16, prior to regular trading hours in New York. Delivery volume for the quarter sat comfortably inside the projected band of 115,000 to 121,000 units. For the three months ended September 30, Xpeng had forecast revenue between 21.7 billion yuan ($3.23 billion) and 23.4 billion yuan, representing top-line expansion of 6.47 percent to 14.81 percent.

    Margin Pressure Behind Rising Volume

    Expanding assembly lines have yet to eliminate bottom-line losses. During the second quarter, Xpeng booked revenue of 19.74 billion yuan, up 8.0 percent year on year, while its net loss widened 179 percent to 1.34 billion yuan. Overall gross margin climbed to 20.7 percent during that period, but profitability specifically on car manufacturing retreated to 12.1 percent from 14.3 percent twelve months earlier.

    Management linked that automotive margin erosion to production line switchovers and model transitions. For automotive retailers and dealership networks across tier-two and tier-three Chinese cities, those shifting economics matter. Showroom floors face aggressive discounting pressure from domestic competitors, which forces brand operators to balance higher footfall against compressed dealership commissions.

    The Fourth-Quarter Delivery Pipeline

    Operational momentum picked up as the final quarter opened. The company delivered 50,237 vehicles in October, exceeding the 50,000 threshold in a single month for the first time. That tally marked a 19.57 percent increase compared to October 2025 and a 21.77 percent jump over September 2026.

    To sustain that momentum, the automaker began nationwide handovers of the Mona L05 on November 1, following its domestic debut on October 29. Fast handovers will test distribution logistics and regional charging hubs as order backlogs translate into active road registrations.

    Pricing Battles Across Chinese Showrooms

    The earlier part of the year had laid out a choppy trajectory for the business. First-quarter deliveries reached 62,682 units before rebounding to 103,295 in the second quarter. The second-quarter earnings release on August 24 demonstrated that while total vehicle receipts grew, product changeovers continued to drag on net earnings.

    Investors and regional dealership groups will focus on fourth-quarter delivery guidance when the numbers arrive on November 16. Chairman and Chief Executive Officer He Xiaopeng had previously set an operational target to surpass 60,000 monthly deliveries before the close of the year, relying on mass shipments of the Mona L05 alongside the G9L.

  • Geely Sells 310,183 Cars in October as Exports Surge 157 per Cent

    Geely Sells 310,183 Cars in October as Exports Surge 157 per Cent

    Geely Auto sold 310,183 vehicles in October, finishing just 245 units shy of its all-time monthly record set in November 2025.

    Strong overseas shipments offset a sharp contraction at home, with export volumes jumping 157.78 per cent year-on-year to 107,153 units.

    Deliveries rose 0.99 per cent compared to October last year and gained 6.17 per cent from September. The performance represented the manufacturer’s second-highest monthly volume on record and its highest total in 2026. However, overall annual sales expansion slowed to roughly 1 per cent because the downturn across mainland China widened.

    Domestic Contraction Deepens in Mainland China

    Home-market demand weakened considerably across Geely’s domestic retail pipeline. The carmaker delivered 203,030 vehicles in China during October, a decline of 23.55 per cent compared to the same month last year. That fall accelerated from a 20.21 per cent decrease recorded in September.

    Sequentially, domestic figures showed modest resilience. Chinese showroom volumes climbed 9.46 per cent from September, logging their best single-month total since January. For the first 10 months of the year, Geely’s cumulative mainland deliveries fell 23.31 per cent to 1,640,841 units.

    Electric Volume Crosses 200,000 Mark

    Electrified drivetrains took a commanding share of total output. Deliveries of new energy vehicles climbed 20.86 per cent year-on-year and 12.64 per cent from September to 214,996 units, crossing the 200,000 mark in a single month for the first time. The category accounted for 69 per cent of all cars sold during the period.

    Battery-electric models drove the segment’s expansion, rising 43 per cent year-on-year to 140,758 units. In contrast, plug-in hybrid electric vehicle shipments declined 6.66 per cent to 74,238 units. The drop broke a flat trend seen in September, when plug-in hybrid volumes held steady against previous-year tallies.

    Brand Performance Shows Divergence

    Brand contributions revealed stark divides across Geely’s corporate umbrella. The core Geely badge, which includes the Galaxy series, delivered 255,742 vehicles in October, rising 4.17 per cent year-on-year and 8.15 per cent from the previous month. Galaxy set a monthly record of 153,385 units, a gain of 20.32 per cent from a year earlier, lifting its year-to-date total to 1,030,569.

    Zeekr registered 32,483 deliveries, up 51.63 per cent from a year ago. That gain ended a nine-month streak where the premium electric badge expanded at or near triple digits. Sequentially, Zeekr dropped 12.72 per cent, suffering its first month-on-month decline since January. Lynk & Co recorded 21,958 deliveries, slumping 45.40 per cent year-on-year for its seventh straight monthly fall, even as volumes climbed 18.74 per cent from September.

    Target Pressures and Export Reliance

    The operational split between local retail weakness and foreign expansion puts structural margin pressure on Geely’s distribution network. Overseas deliveries generated 35 per cent of all volume in October, slightly down from 37 per cent in September but representing an enormous jump from 2025. While foreign distribution commands higher showroom retail prices in developing markets, cross-border freight costs and regional import duties eat into those returns. Chinese dealerships, meanwhile, face persistent price discounting as local buyers pivot away from internal combustion models faster than the core network can adjust.

    Rival domestic manufacturers face similar cross-border dynamics, but Geely has shifted its physical inventory overseas at an accelerated pace. Across the first 10 months of 2026, cumulative exports climbed 167.94 per cent to 904,823 vehicles. That total completed 98 per cent of its full-year foreign shipment goal of 920,000 units, leaving roughly 15,000 cars to ship over November and December. Geely had revised that export target upward on August 17 from an earlier goal of 640,000.

    Total group volume reached 2,545,664 units between January and October, representing an increase of 2.76 per cent from the same period last year. Year-to-date brand tallies show the core Geely line down 1.18 per cent at 2,006,702 units and Lynk & Co down 22.58 per cent to 218,075. Zeekr remains the main volume booster over the 10-month window, rising 94.45 per cent to 320,887 units.

    Meeting management’s overall objective will require unprecedented sales speed. Geely has secured 74 per cent of its full-year target of 3,450,000 vehicles, leaving a deficit of 904,336 units. To clear that benchmark, the company must average roughly 452,000 vehicle deliveries in each of the remaining two months, well above the record 310,428 achieved in November 2025.

  • Geely’s Zeekr Brings 7GT Electric Wagon to Australia in Fourth Quarter

    Geely’s Zeekr Brings 7GT Electric Wagon to Australia in Fourth Quarter

    Zeekr will launch its 007 GT electric shooting brake in Australia in the fourth quarter of 2026. The rollout targets buyers in the brand’s latest right-hand-drive market.

    Geely Auto’s premium EV arm presented the car under the export badge Zeekr 7GT at the Sydney EV show on Thursday. It withheld local pricing and final specification sheets.

    Sydney Debut Follows European Rollout

    The Australian arrival follows a six-month push across Europe. Zeekr entered Germany, the Netherlands, Belgium, Denmark, Norway, and Sweden in January, then expanded to 16 European markets by July by adding France, Italy, and Spain.

    Showrooms in China first received the 007 GT in April 2025 as the brand’s second estate model alongside the larger 001. Both vehicles share their platform with the 007 sedan.

    Battery Architecture and Market Strategy

    An April refresh in China upgraded the 007 GT to a 900-volt electrical architecture capable of 6C charging rates. Local executives have not confirmed whether Australian-spec models will retain that charging speed or receive regional adjustments.

    Offering a shooting brake in Australia reflects a deliberate calculation against standard electric SUVs. Rival Chinese brands continue to battle for volume in family crossovers. Zeekr is using wagon silhouettes to build premium ground against legacy European marques.

    That approach brings operational hurdles. Australian luxury buyers expect rapid DC fast-charging performance and established dealer footprints. Withholding pricing until the fourth quarter leaves local distributors managing interest without hard commercial terms.

    Volume Growth Anchors Export Drive

    Data from the China Passenger Car Association ranks the 007 GT first in global shooting brake deliveries through the first eight months of 2026. Monthly international shipments topped 10,000 units in August, taking cumulative lifetime sales across the wagon lineup past 400,000 vehicles.

    Broader group deliveries accelerated through the third quarter. September sales hit 37,216 vehicles, up 103.85 per cent year on year, to secure a sixth straight monthly record. Volume across the first nine months reached 288,404 units, more than doubling tallies from the same period in 2025.

    What Australian Buyers Are Waiting to See

    Australian demand will test the carmaker while it reshuffles older product lines at home. Domestic deliveries of the flagship 001 fell 21.50 per cent over the first eight months of the year. That drop triggered 10,000 yuan factory insurance subsidies ahead of an early 2027 platform overhaul.

    Distributors must still confirm final Australian specifications, local trim levels, warranty terms, and right-hand-drive delivery schedules ahead of the fourth-quarter commercial debut.