Leapmotor has surpassed Mitsubishi and Subaru in global vehicle sales for the first time, as the Chinese automaker continues its rapid expansion in China and Europe. The company’s April-to-June sales reached a record 240,000 vehicles, according to Nikkei Asia.
Leapmotor Sales Reach Record High
Leapmotor’s global growth reflects the rapid expansion of Chinese automakers, which have gained a significant position in the global automotive market through new energy vehicles and feature-packed models offered at a fraction of the cost of competitors.
Leapmotor is one of many Chinese automotive brands and has gradually built a global presence despite receiving less attention than companies such as BYD or Geely. Its latest sales figures show how quickly the brand has expanded.
According to Nikkei Asia, Leapmotor’s sales increased 84% year over year during the April-to-June quarter, reaching a record 240,000 vehicles.
During the same period, Subaru sold 230,000 vehicles, while Mitsubishi sold 170,000. The result marks the first time Leapmotor has overtaken both Japanese automakers based on quarterly global sales.
China and Europe Drive Leapmotor Growth
Most of Leapmotor’s new sales have come from its rapid expansion in China and Europe, where demand for its affordable electric vehicles has been strong.
The report also says that the rapid rise in global oil prices has boosted Leapmotor sales and demand.
Leapmotor was established in 2015 and has developed many of its key technologies in-house. Its vehicle lineup focuses on plug-in hybrids and electric vehicles.
The company’s latest sales milestone also represents the first time a Chinese startup automotive brand established after 2010 has surpassed legacy Japanese automakers in global sales.
Toyota and Volkswagen Remain Ahead
Despite Leapmotor’s rapid growth, Toyota Motor remains the global sales leader. Toyota registered 2.71 million vehicles during the quarter, although that total was down 4% from the same period a year earlier.
The Volkswagen Group ranked second with 2.07 million units, representing a 9% decline from the previous year.
Stellantis Supports Leapmotor’s Expansion
Leapmotor’s broader growth has also been fueled by one of its biggest investors, Stellantis.
The company’s rise contrasts with difficulties facing Japanese automakers in Europe. Nissan’s sales fell 15% during the quarter, while Mitsubishi’s sales declined 40%.
Leapmotor’s record April-to-June sales mark a significant milestone for the Chinese automaker, as its expansion in China and Europe pushes it past Mitsubishi and Subaru in global quarterly vehicle sales.
