XPeng’s U.S.-listed shares are lower in today’s session as investors continue to reprice the stock following the company’s March 20, 2026 quarterly report and outlook. In that release, XPeng projected first-quarter 2026 total revenue of RMB12.20 billion to RMB13.28 billion, which management said would represent a roughly 16.0% to 22.8% year-over-year decline—an outlook that can pressure high-growth expectations for China EV names. �citeturn1view0

Adding to the cautious tone, a recent analyst note lowered XPeng’s price target while keeping a positive rating, framing 2026 as a transition year as the company broadens its lineup amid slowing China EV demand. The combination of a downbeat near-term revenue outlook and more conservative price targets can amplify day-to-day volatility in the ADR. �citeturn2search2

XPeng has been highlighting progress on its second-generation VLA 2.0 intelligent-driving stack, including public-road testing for its Robotaxi equipped with VLA 2.0 and plans for trial operations later this year. Bulls see this as a potential differentiator, but today’s move suggests near-term financial trajectory is dominating the tape. �citeturn2search0

Investors are likely to focus on upcoming delivery updates and whether the VLA 2.0 rollout translates into improved demand and mix, especially after February 2026 deliveries were 15,256 vehicles. Any evidence of re-acceleration in volumes or stabilization in pricing could help offset concerns raised by the Q1 revenue outlook. �citeturn1view1