Leapmotor, supported by Stellantis, delivered 110,155 new energy vehicles in Q1 2026, a 26% year-over-year increase, marking its fourth consecutive quarter with over 100,000 deliveries. Meanwhile, BYD, China's top EV seller, saw quarterly sales fall 30% to 688,993 units despite a more than 55% rise in exports.
Leapmotor's Consistent Growth
Leapmotor's first-quarter performance reflects sustained demand, with March deliveries alone reaching 50,029 units, outpacing most domestic competitors. The company has set an annual target of 1 million vehicle sales in China and plans to export between 100,000 and 150,000 cars this year.
BYD's Domestic Challenges and Export Surge
BYD's quarterly sales drop to 688,993 vehicles underscores pressures in the domestic market, where it has not disclosed a sales target. However, the automaker's exports surged by over 55% to 321,165 cars in the quarter, aligning with its goal to sell well over 1 million overseas vehicles in 2026.
Other EV Makers' Quarterly Performances
- Li Auto: Reported 95,142 Q1 deliveries, a 2.5% increase year-over-year, exceeding its target of 85,000 to 90,000 units.
- Nio: Achieved 83,465 Q1 deliveries, nearly doubling from the previous year, including sales from its Onvo and Firefly brands; met its target of 80,000 to 83,000 units.
- Xiaomi: Following the upgrade of its SU7 sedan, delivered over 79,000 EVs in Q1, a 14.5% rise year-over-year, with March deliveries exceeding 20,000.
- Zeekr: Geely's EV brand saw 77,037 Q1 sales, an 86% increase from Q1 2025, with March sales at 29,318.
- Xpeng: One of the few to decline, with 62,682 Q1 deliveries, a 33.3% drop compared to the same period last year, and March deliveries of 27,415.