XPeng Faced With Staffing Adjustments and Leadership Shifts

XPeng ( XPEV ), an electric vehicle manufacturer, is facing challenges in transitioning to a dealer-dependent sales model due to staffing adjustments and leadership shifts. Gu Yuanqin, former XPeng vice president of financial platform operations and management, has taken over as head of sales, taking over the duties of previous head of sales Wang Tong. Gu has contributed to the development of Xpeng's lane-level navigation and positioning system at his former company. Wang, who oversaw key account sales operations, assumed leadership of sales after the merger of Xpeng's direct and distribution systems in 2023.

XPeng previously attempted to boost sales by implementing sales channel adjustments, such as mandating dealers to acquire a specific number of vehicles monthly. However, this strategy is encountering obstacles. XPeng's initial sales model was managed directly by its initial 20 stores. Yu Tao, currently the head of marketing for Oppo's OnePlus brand, is expected to join XPeng as its vice president of marketing soon.

Yu will oversee marketing, public relations, and communications, reporting directly to President Wang Fengying. XPeng aims to sell 280,000 units this year, which requires an average of over 30,000 units per month for the remainder of the year.

Stock Performance
XPeng ( XPEV ) closed Fridays' trading session up 1.23% trading with a Relative Strength Index (RSI) of 49.86 which is quite prime for further surge henceforth.