The U.S.-listed shares of XPeng Inc. /zigman2/quotes/219982686/composite XPEV -4.60% fell 2.7% in premarket trading Monday, as the China-based electric vehicle maker reported a narrower-than-expected first quarter loss, but provided a downbeat revenue outlook. Net losses widened to RMB1.70 billion ($268.3 million), or RMB2.00 a share, from RMB786.6 million, or RMB0.99 a year ago. Excluding nonrecurring items, the adjusted per-share loss of RMB1.88 beat the FactSet loss consensus of RMB1.90. Total revenue grew 152.6% to RMB7.45 billion ($1.18 billion), above the FactSet consensus of RMB7.39 billion, as vehicle sales increased 149.0% to RMB7.00 billion, but total revenue fell 12.9% from the fourth quarter. Gross margin improved to 12.2% from 11.2%, as vehicle margin improved to 10.4% from 10.1%. Total deliveries of 34,561 vehicles was up 159.1% from a year ago, but down 17.2% from the fourth quarter. For the second quarter, the company expects total revenue of RMB6.8 billion to $MB7.5 billion, below the FactSet consensus of RMB8.14 billion, and expects deliveries to decline from the first quarter to 31,000 to 34,000 vehicles. The stock has plunged 53.8% year to date through Friday, while the iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI +0.04% has dropped 20.8% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.06% has shed 18.1%.