Leapmotor Q1 2026 Sales Jump 25.8% YoY, Revenue Up Just 8% as Average Selling Price Drops Due to Product Mix Shift

In the first quarter of 2026, Leapmotor sold a total of 110,000 vehicles, an increase of 25.8% year-over-year. During the same period, the company reported revenue of RMB 10.82 billion, up 8% year-over-year. The divergence between sales volume growth and revenue growth was primarily driven by shifts in product mix. Leapmotor’s product lineup comprises four series—A, B, C, and D. Models based on the C platform were launched earlier, while those on the B platform began rolling out in 2025 and saw a significant increase in sales contribution during Q1 2026. As B-platform models are priced lower, their rising share of total sales led to a decline in the company’s average selling price per vehicle and gross margin.