Xpeng (XPEV) Gross Margin (2019 - 2026)
Xpeng (XPEV) reported Gross Margin of 20.68% for Q2 2026, up 3.35 percentage points from 17.33% a year earlier and up 0.10 percentage points from the prior quarter.
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Analysis
Xpeng (XPEV) Gross Margin (2019 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Xpeng's Gross Margin came in at 20.70%, up 4.95 percentage points year-over-year; for FY2025, it came in at 18.86%, up 4.56 percentage points from FY2024.
- Gross Margin has a five-year change of +14.31 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 14.30% in FY2024 (+12.83 pp), 1.47% in FY2023 (-9.68 pp), 11.15% in FY2022 (-1.34 pp) and 12.50% in FY2021 (+7.94 pp).
- Five-year quarterly Gross Margin spans a low of -3.90% in Q2 2023 and a high of 21.31% in Q4 2025.
- Year over year, Gross Margin has now increased in each of the last ten quarters, with an average year-over-year change of +6.54 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was Q3 2024 (a gain of 17.93 percentage points); the low point was Q3 2023 (a drop of 16.20 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 20.58% (Q1 2026), 21.31% (Q4 2025) and 20.14% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,300.09 Bn | 1,126.12 Bn | 4.75 Bn | 16.83% |
| 2 | General Motors | 70.82 Bn | -33.80 Bn | 9.28 Bn | 18.55% |
| 3 | Ferrari | 69.66 Bn | 62.15 Bn | 1.18 Bn | 52.59% |
| 4 | Ford Motor | 47.25 Bn | -95.25 Bn | 6.08 Bn | 12.59% |
| 5 | Honda Motor | 44.69 Bn | -105.12 Bn | 8.46 Bn | 22.24% |
| 6 | Toyota Motor | 25.22 Bn | -375.60 Bn | 20.95 Bn | 24.69% |
| 7 | Magna International | 17.95 Bn | 11.98 Bn | 1.61 Bn | 14.68% |
| 8 | Rivian Automotive | 15.44 Bn | -7.87 Bn | 179.00 Mn | 10.80% |
| 9 | Stellantis | 13.78 Bn | -150.86 Bn | 5.55 Bn | 10.98% |
| 10 | Xpeng | 8.85 Bn | 8.85 Bn | 599.70 Mn | 20.68% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 20.68% |
| Mar 31, 2026 | 20.58% |
| Dec 31, 2025 | 21.31% |
| Sep 30, 2025 | 20.14% |
| Jun 30, 2025 | 17.33% |
| Mar 31, 2025 | 15.56% |
| Dec 31, 2024 | 14.44% |
| Sep 30, 2024 | 15.26% |
| Jun 30, 2024 | 14.00% |
| Mar 31, 2024 | 12.89% |
| Dec 31, 2023 | 6.20% |
| Sep 30, 2023 | -2.67% |
| Jun 30, 2023 | -3.90% |
| Mar 31, 2023 | 1.66% |
| Dec 31, 2022 | 8.66% |
| Sep 30, 2022 | 13.53% |
| Jun 30, 2022 | 10.88% |
| Mar 31, 2022 | 12.22% |
| Dec 31, 2021 | 11.96% |
| Sep 30, 2021 | 14.35% |
API Access
Xpeng Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=XPEV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "XPEV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=XPEV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();