Leapmotor, a player in China’s electric vehicle (EV) market, maintained its impressive delivery figures in August, though slightly below the record-breaking numbers seen in July.
According to the latest data released by the company, Leapmotor reported 14,190 vehicle deliveries in August, marking the second-highest monthly figure, just shy of July’s peak of 14,335 units.
Despite the marginal dip, this represented a substantial 13.29 percent increase when compared to the same month the previous year when 12,525 vehicles were delivered. However, it also indicated a modest 1.01 percent decrease from July’s extraordinary performance.
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Leapmotor did not disclose specific sales figures for individual models but revealed that its flagship C-series model accounted for more than 85 percent of deliveries in August.
Remarkably, the Leapmotor C11 series, part of the C-series, contributed significantly, with more than 10,000 units delivered, representing over 70 percent of Leapmotor’s total deliveries for the month.
In the year-to-date figures from January through August, Leapmotor reported a total of 73,027 vehicle deliveries, reflecting a slight decrease of 4.62 percent compared to the same period the previous year when 76,563 units were delivered.
As of the end of August, Leapmotor’s cumulative deliveries since its establishment reached an impressive 234,696 vehicles.
Looking ahead, Leapmotor is set to make a significant appearance at the Munich auto show, where it plans to unveil its global strategy on September 4, 2023.
Founded in 2015, Leapmotor boasts a diverse lineup of models, including the mini EV T03, the coupe model S01, the flagship SUV model C11, and the flagship sedan C01. The C11 and C01, both launched in September 2021 and 2022 respectively, have become the company’s flagship models, targeting a price range of 150,000 to 300,000 yuan ($20,650 to $41,300).
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Previously known for its budget-friendly T03 electric vehicle, Leapmotor has taken strategic steps to diversify its offerings. In a bid to boost sales, the company recently applied limited-time discounts of up to RMB 10,000 on the T03, lowering its starting price range to RMB 49,900 to RMB 79,900.
Leapmotor’s performance in the latter half of 2022 witnessed a downturn, prompting the release of the C11 extended-range electric vehicle (EREV) on March 1, targeting a broader market segment.
Founder, chairman, and CEO of Leapmotor, Zhu Jiangming, announced on November 14, 2022, following the release of the company’s third-quarter results, that all models on the company’s C platform and future new platforms would offer both battery electric vehicle (BEV) and EREV versions.
Furthermore, on August 1, Leapmotor responded to mounting competition in China’s EV market by reducing the prices of the C01 and the BEV version of C11 by as much as RMB 20,000, further bolstering its position in the rapidly evolving industry.
