Xpeng announced on social media platform Weibo that it has commenced volume deliveries of its newly launched electric sedan, the P7+, across China, beginning November 11. Vehicles are arriving at Xpeng’s delivery centers nationwide, as the company seeks to meet robust demand following last week’s launch of the model.
Unveiled on November 7, the P7+ starts at RMB 186,800 ($26,000), which is RMB 23,000 (11%) below its initial pre-sale price. Xpeng has streamlined its offerings for this model, providing two standard variants priced at RMB 186,800 and RMB 198,800.
A limited edition, priced at RMB 218,800, sold out quickly with only 500 units available. The simplified variant selection aims to avoid the confusion encountered with Xpeng’s G9 SUV launch in 2022, where numerous options complicated the decision-making process.
The P7+ has seen strong initial interest, with Xpeng reporting 31,528 non-refundable orders within the first three hours of its launch. The streamlined configuration and competitive pricing are intended to facilitate swift delivery and capture peak interest.
Deutsche Bank analyst Wang Bin’s team recently raised their monthly sales estimate for the P7+ to 9,000 units, citing its competitive pricing and size advantages over similar models. They anticipate that Xpeng’s efforts to reduce vehicle material costs by 25% could contribute to stronger gross margins in future sales.
