XPeng's Q1 2026 financial results show revenue of 13.03 billion yuan, down 17.6% YoY. Vehicle deliveries reached 62,700 units, down 33.3%. While profitability remains under pressure, XPeng is counting on the MONA series and new P7 to revive sales. Whether its smart driving differentiation can sustain recovery is the key question.
XPeng's Q1 2026 financial report shows gross margin reaching 20.6%, an all-time high. Quarterly deliveries totaled 62,682 units, with cash reserves growing to 42.09 billion yuan. Revenue for the quarter reached 15.81 billion yuan, up 62.8% year-over-year. This marks the third consecutive quarter of gross margin improvement.
Li Auto's Q1 2026 financial report shows revenue of 23 billion yuan, up 52.3% year-over-year. Deliveries reached 95,142 units, up 47.6%. Gross margin was 19.8%, maintaining above 19% for five consecutive quarters. The company announced a share buyback program of up to 1 billion USD and maintained its full-year delivery target of 700,000 units.
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