XPeng Q1 margins improve as losses shrink 50%
XPeng reported a Q1 2025 gross margin of 15.6%, up 2.7% YoY, despite a 2.9 billion RMB ($406 million) drop in revenue to 15.81 billion RMB ($2.21 billion). Vehicle gross margin rose to 10.5%. Deliveries increased by 2,500 units to 94,008, though revenue per vehicle fell 4.6% to 153,000 RMB ($21,420). XPeng cut its net loss to 660 million RMB ($92.4 million), down over 50% YoY.