Chinese electric vehicle maker Leapmotor posted a record month for sales in May, while industry leader BYD halted its longest streak of declining year-on-year sales amid fierce competition in the world's largest auto market.
Leapmotor delivered 81,569 vehicles globally in May, an 81% increase from a year earlier and its highest monthly total on record. The company has emerged as one of the fastest-growing EV brands in China, benefiting from competitive pricing and an expanding model lineup, News.az reports.
Meanwhile, BYD reported global sales of 383,453 vehicles in May, up 0.3% from a year earlier. The modest increase ended eight consecutive months of year-on-year sales declines, offering a sign of stabilization for the world's largest EV manufacturer.
BYD's recovery was driven largely by strong international demand. Overseas shipments surged significantly compared with the same period last year, helping offset continued weakness in the domestic market, where sales declined for a 13th consecutive month.
Analysts say competition in China's EV sector remains intense, with companies such as BYD, Leapmotor, Geely and other manufacturers competing aggressively through pricing strategies, new technologies and expanded product portfolios.
The latest figures highlight a shifting landscape in China's electric vehicle market, where growth increasingly depends on overseas expansion as automakers navigate slowing demand and mounting price pressure at home.
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