XPeng’s Price Target Slashed to $34, January Deliveries Hit 20,011 Units
JPMorgan lowered XPeng’s price target to $34 from $50 while keeping an overweight rating and forecasting negative passenger vehicle growth in China for 2026. In January, XPeng delivered 20,011 vehicles, launched the P7+ across 36 countries and expanded its network to 60 countries with 380 stores, up over 150%.
1. JPMorgan Lowers Price Target While Maintaining Overweight
JPMorgan cut XPeng’s price target to $34 from $50 and retained an overweight rating. The firm warned that China’s auto industry could underperform in 2026 as passenger vehicle growth slips into negative territory.
2. January Deliveries Reach 20,011 Units
XPeng delivered 20,011 vehicles in January 2026, driving a reduction in lifecycle greenhouse gas emissions by over 300,000 tons, equivalent to 4.94 million tree seedlings’ absorption over a decade. The P7+ model also launched across 36 countries with its European debut at the Brussels Motor Show.
3. Global Network Expands to 60 Countries
As of December 31, 2025, XPeng’s overseas network spans 60 countries and regions with 380 physical stores, a year-over-year increase of more than 150%. The company’s worldwide sales and service network now exceeds 1,000 outlets.