New York, Feb 2, 2026, 15:24 EST — Regular session
- XPeng shares dropped roughly 8% in afternoon trading.
- January vehicle deliveries hit 20,011, the company reported.
- Investors are closely watching China’s demand signals, awaiting February’s data for clarity.
Shares of XPeng Inc fell Monday following the release of its January delivery figures, adding to the early-month pressure on U.S.-listed Chinese EV stocks.
The stock slipped roughly 8%, hitting $16.52 in afternoon trading, after dropping to a session low of $16.17. XPeng reported delivering 20,011 vehicles in January.
Why it matters now: monthly delivery updates offer a quick pulse on demand in China’s packed EV market. Traders have taken the initial 2026 data as a gauge of sentiment, particularly as policy support shifts and a price war threatens to boost volumes while squeezing margins.
The mood turned sour across the sector. BYD’s Hong Kong shares dropped to their lowest level in at least a year on Monday, dragging down other China auto stocks as investors absorbed weaker January sales and a new subsidy plan cutting incentives for cheaper vehicles. “Investors were likely surprised by the large degree of the domestic decline,” said Eugene Hsiao, head of China equity strategy at Macquarie Capital, in a note on the sector. Reuters
XPeng highlighted its international expansion in a recent update. The company announced its P7+ model is now available in 36 countries and made its first European appearance at the 2026 Brussels Motor Show. It also reported growing its footprint to 60 countries and regions, boasting 380 overseas stores and over 1,000 sales and service locations worldwide.
Over the last two days, rivals released their January delivery figures. NIO reported 27,182 vehicles delivered, and Li Auto came in slightly higher with 27,668 deliveries.
Investors in XPeng are closely monitoring if growth in overseas sales will counterbalance any slowdown at home. At the same time, the company faces pressure to maintain pricing without eroding margins amid mounting competition.
Watch out, bears and bulls: a single month of deliveries often distorts the picture. Factors like Lunar New Year timing, production shifts, and discounting can cause sharp swings in the numbers, rattling sentiment just as fast.
