Leapmotor delivered 103,129 vehicles globally in August, setting a record for the fifth consecutive month and holding above 100,000 units for the second month running.
August deliveries jumped 80.7% from the 57,066 vehicles the Stellantis-backed automaker handed over in the same month a year earlier.
Sequential growth slowed to 1.8% from July’s record, with 101,267 units.
According to a social media post, last month’s retail registration data placed Leapmotor among the top four new-energy passenger vehicle brands globally and among the top three in China.
Deliveries for the first eight months of 2026 reached 560,883 vehicles, up 70.6% year-on-year and representing about 56% of the company’s full-year target of one million units.
Annual Target
A second month above 100,000 still leaves Leapmotor short of the pace needed to reach its annual goal.
Closing the remaining 439,117 vehicles across September through December requires an average of roughly 109,779 units a month, a figure above August’s record and above the 108,449 monthly average the same arithmetic produced at the end of July.
Senior VP Xu Jun said in mid-July that the company had no plans to revise the one-million figure, calling the target a mechanism to push the organization forward even as the first half ended with only 35.6% of the goal completed.
A05 Adds a Fifth Model Series
Leapmotor launched the A05 compact hatchback in Hangzhou on August 11.
Priced from 63,900 yuan ($9,500) to 90,900 yuan ($13,500), the A05 is the second model on the company’s entry-level A platform — after the A10 small SUV — and competes directly with BYD’s Dolphin and Geely’s Xingyuan in China’s fiercely contested sub-100,000-yuan segment.
August carried only a partial month of A05 deliveries. A model-level split is not part of the monthly release.
The China Passenger Car Association (CPCA) is expected to publish its brand-by-brand figures in the coming days.
The A10 itself reached a production milestone in early August, with 100,000 units rolling off the line 135 days after its March launch, making the compact SUV the fastest Leapmotor model to hit that mark.
The A10 delivered 26,424 units in July, anchoring the bottom end of a range that now spans the 60,000-to-300,000-yuan band across five model series.
Margin Pressure Behind the Volume
Record deliveries are arriving alongside a margin squeeze.
Leapmotor cut its full-year net profit guidance by 40% on August 24, to 3 billion yuan ($446.4 million) from 5 billion yuan ($744.0 million), citing rising raw material costs.
First-half revenue reached 38.1 billion yuan ($5.7 billion), up 57.2%, but gross margin fell to 11.7% from 14.1% a year earlier as cost of sales outpaced revenue growth.
Management set a full-year gross margin target of 13% to 14%, implying a recovery is needed in the second half.
Free cash flow dropped 83.7% to 140 million yuan ($20.8 million) in the first half.
The revised profit target still implies a 5.6-fold increase over the 540 million yuan Leapmotor earned in 2025 — the year in which the company posted its first annual profit.
Overseas Push Continues
Exports in the first seven months totaled 113,863 vehicles, up 281.5% year-on-year and accounting for 24.9% of deliveries.
CPCA data published later this month is also expected to show the breakdown between domestic deliveries and overseas shipments.
Leapmotor disclosed overseas sales targets for the first time at its interim results briefing last month, projecting 150,000 to 200,000 vehicles outside China in 2026, with management indicating the upper end of that range as the working assumption.
The B10 and C10 entered Argentina in August as extended-range variants, expanding Leapmotor International’s footprint into Latin America through the 51/49 joint venture with Stellantis.
Assembly at the Stellantis plant in Zaragoza, Spain, is scheduled to begin in October, giving Leapmotor its first European production base and allowing locally built vehicles to avoid EU tariffs on China-made electric vehicles.
An Indonesian knock-down plant started production on July 31, with locally assembled B10 and C10 deliveries underway from August.
Mass production of the B10 at the Malaysian facility in Gurun is set to begin in the third quarter.
What Comes Next
Leapmotor will hold its annual technology conference in two weeks — scheduled for September 16.
The company plans to unveil a world-model-based assisted-driving system alongside advances in battery and electric-drive technologies.
Chief financial officer Li Tengfei said last month that assisted-driving products built on the new architecture would represent a significant improvement over the existing system.
The company also launched a limited-time September promotion offering combined incentives worth up to 57,379 yuan ($8,500), covering vehicle options, charging and financing.
Management disclosed a 2027 product pipeline at the interim results briefing that includes all-new D-series and C-series models alongside refreshes of the C-series and B-series, with more launches planned for next year than in 2026.
A second brand aimed at the segment above 300,000 yuan ($44,600) remains on track, with first products expected between late 2026 and early 2027.
