Leapmotor Defies China EV Slump With 9,000 Weekend Orders

Edgen Stock

·Mar 30 2026, 04:48

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Key Takeaways

Chinese electric vehicle manufacturer Leapmotor announced a significant sales achievement, securing over 9,000 confirmed orders during the weekend of March 28-29, 2026. This strong performance provides a bullish signal for the company, occurring as the broader Chinese EV market shows signs of weakness, including a severe domestic sales decline for market leader BYD.

Leapmotor recorded over 9,000 orders with deposits placed over a single weekend, demonstrating robust consumer demand.
This success contrasts sharply with market leader BYD, which saw its domestic China sales collapse by 65% year-over-year in February 2026.
The results suggest a potential shift in market dynamics, where smaller, agile EV makers may be capturing share from established giants in China's competitive landscape.

Leapmotor Secures Over 9,000 Orders in a Single Weekend

Leapmotor (09863.HK) reported unexpectedly strong consumer demand over the weekend of March 28-29, 2026, securing more than 9,000 vehicle orders. According to a social media announcement from CEO Zhu Jiangming, the company received 4,394 orders on Saturday and another 4,692 on Sunday. Each of these orders was backed by a deposit of RMB 5,000, indicating a high level of purchase intent and providing a significant boost to the company's near-term sales pipeline. This performance directly challenges the narrative of a cooling market and positions Leapmotor as a notable contender.

Strong Performance Contrasts with Market-Wide Weakness

Leapmotor's achievement is particularly significant given the challenging conditions in the broader Chinese EV market. The success comes as market leader BYD (BYDDF) grapples with a severe domestic downturn. BYD's sales in China collapsed by 65% year-over-year in February 2026, marking the sixth consecutive month of declining domestic sales for the world's largest EV seller by volume. Broader industry data confirms this trend, with overall vehicle sales in China contracting by 13.4% in February. Leapmotor's ability to generate thousands of orders in this environment suggests it is effectively capturing consumer interest and potentially market share from its larger rivals.