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BYD, Leapmotor buck EV market slowdown as pressure piles up on small rivals

China’s leading EV makers saw sales surge in August, with BYD up 17.8 per cent from last year and Leapmotor up 80.7 per cent

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A Z Convertible EV from BYD luxury brand Denza at the company’s booth at the Beijing International Automotive Exhibition in Beijing. Photo: Reuters
Daniel Renin Shanghai
Top performers BYD and Leapmotor clawed their way up higher in terms of sales last month, even as China’s electric vehicle (EV) market was shrinking amid weaker consumer demand.

However, smaller players were expected to face falling sales and mounting losses for the rest of the year as competition got fiercer, according to analysts.

BYD, the world’s largest EV builder, saw its sales in August surge to the highest in nine months, climbing 17.8 per cent from a year ago to 440,293 units, it said in a statement on Tuesday.

The rosy performance added to evidence that the Shenzhen-based carmaker – spurred on by its new model launches and buoyant exports – was returning to solid footing despite a bumpy start in 2026.

Leapmotor, known for its relatively inexpensive smart EVs, extended its record-setting run to a fifth month, delivering 103,129 vehicles to customers around the world and logging an 80.7 per cent year-on-year increase, according to a statement by the EV manufacturer. Leapmotor’s overseas presence is bolstered by a partnership and joint venture with European carmaker Stellantis.

“A widening gap between the winners and the bottom players would force some underachievers to exit the market in the coming one or two years,” said Phate Zhang, founder of Shanghai-based industry data provider CnEVPost.

“The leading EV assemblers, with production scale and research strength, are set to increase their global market share because of their advantages in pricing and innovation.”

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