XPeng MONA M03 Becomes Sales Pillar, but 55.7% Dependence Raises Red Flags

In May 2026, the XPeng MONA M03 accounted for a staggering 55.7% of the brand’s monthly sales—making it XPeng’s undisputed flagship. This figure reflects both XPeng’s successful escape from existential crisis and a stark warning of strategic imbalance.

Back in 2024, XPeng faced dual pressures: sliding sales and mounting profitability challenges. While the G6 performed modestly, market share kept eroding. To reverse course, XPeng launched the MONA M03 in late 2024 with a starting price of RMB 119,800. Within its first hour on sale, orders surpassed 10,000 units; in 2025, it delivered over 170,000 units—topping the A-segment pure-electric sedan sales chart.

Data shows the MONA M03 contributed 45.6% of XPeng’s total 2025 volume—and that share rose to 55.7% by May 2026. It not only stabilized cash flow but also funded R&D for new models. Yet overreliance on a single hit carries structural risk: XPeng’s average selling price (ASP) dropped from over RMB 200,000 pre-2024 to RMB 159,000 in 2025—while Zeekr, Li Auto, and NIO maintained ASPs between RMB 250,000 and RMB 400,000.

More critically, XPeng currently lacks a second model consistently delivering over 10,000 units per month—besides the MONA M03. The brand’s positioning has undeniably shifted downward, diluting its mid-to-high-end image.

In response, XPeng has launched countermeasures: elevating MONA to an independent sub-brand, planning SUVs like the L03 and L05 to build a sedan + SUV dual-track lineup—and accelerating development of premium models priced around RMB 300,000. Yet whether XPeng can break free from its ‘price-for-volume’ dependency and rebuild differentiated brand value remains its most critical test in 2027.