BYD and Leapmotor Gain Market Share Amid China EV Sales Slowdown

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

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...

By Daniel Ren