A Look at leapmotor sticks to 1 million sales target despite 35.6% completion rate at half-year mark
- An executive said Leapmotor will make efforts across multiple areas in the second half to get as close as possible to its sales target.
- The company delivered 356,487 vehicles in the first half and needs to average more than 107,000 units a month in the second half to meet the target.
Leapmotor (HKEX: 9863) reiterated its target of delivering 1 million vehicles in 2026, even though it had achieved only about 35.6% of that goal in the first half.
The company currently has no plans to adjust its full-year sales target of 1 million vehicles, Leapmotor senior vice president Xu Jun said during a media briefing following the launch of the B01 and B10 on Thursday evening, according to a report by local media outlet Sina Tech.
Xu acknowledged that Leapmotor outperformed the broader market, its competitors and its own previous performance in the first half, but fell short of its target. He emphasized that the target is intended to push the company forward.
The new B-series products are highly competitive and should generate strong sales, Xu said, adding that the lineup is tasked with supporting Leapmotor’s sales in the second half.
Another senior vice president, Cao Li, added that Leapmotor remains confident it can meet its full-year sales target of 1 million vehicles.
Leapmotor delivered 356,487 vehicles in the first half, up 60.82% year-on-year, according to data compiled by CnEVPost.
The company delivered 93,376 vehicles in June, an increase of 94.51% year-on-year.
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That means the Stellantis NV (NYSE: STLA)-backed automaker still needs to deliver about 643,513 vehicles in the second half, equivalent to an average of about 107,253 units a month, above its current monthly record.
Achieving the sales target will require contributions from all 4 of Leapmotor's A, B, C and D product lineups, Xu said.
The company will continue doing the right things in the second half and make efforts across products, marketing and distribution channels to bring its sales as close as possible to the target, he said.
The updated B01 sedan starts at 95,800 yuan ($14,140), while the refreshed B10 SUV (sport utility vehicle) has a starting price of 99,800 yuan.
Long-range versions of both models use an 800-volt high-voltage fast-charging platform, while some variants are equipped with LiDAR.
In overseas markets, Leapmotor set a goal at the beginning of the year for international sales to account for 20% to 35% of its total. The proportion was already close to 30% in the first half.
Changes in overseas policies and rising fuel prices are accelerating the transition toward vehicle electrification, providing favorable opportunities for the company, Xu said.
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