Xpeng Motors has reported a narrower-than-expected third-quarter loss, driven by strong sales of new models and a record gross margin of 15.3%. The company’s third-quarter revenue reached RMB 10.1 billion, surpassing market expectations of RMB 9.91 billion. Xpeng delivered 46,533 vehicles in Q3, marking a 16.3% year-over-year increase. Additionally, Xpeng's revenues from services and others rose 90.7% to RMB 1.31 billion, largely due to a technology partnership with Volkswagen. The company has guided fourth-quarter vehicle deliveries to be between 87,000 and 91,000 units, and it aims to break even by 2025. Despite the positive financial performance, Xpeng’s shares fell over 6% following the earnings report. The Q3 net loss per American depositary share (ADS) was RMB1.91, and RMB0.95 per ordinary share.