Leapmotor has made significant strides in global vehicle sales, surpassing Subaru and Mitsubishi for the first time in Q2 2026, with a record delivery of 240,000 vehicles—an 84% year-over-year increase. Meanwhile, Subaru and Mitsubishi faced declines, with Subaru selling 230,000 and Mitsubishi 170,000 vehicles.
The surge in Leapmotor’s sales is driven predominantly by European demand, which now accounts for 20% of its total sales, up from 6% last year. Italy, in particular, has seen Leapmotor’s sales soar thirteenfold, capturing 27% of the nation’s EV market compared to Tesla’s 9%.
Leapmotor benefits from a joint venture with Stellantis, allowing immediate access to over 850 European sales points, a network that competitors like BYD and Nio have invested heavily to build. Local manufacturing arrangements are set to insulate Leapmotor from tariffs that restrict other Chinese brands, with plans to further establish production in Spain.
The company has a unique advantage through vertical integration, developing 65% of its vehicle components in-house, which offers a 10% cost advantage per vehicle. Its best-seller in Europe is the low-cost T03, priced at approximately €15,900.
In contrast, Subaru and Mitsubishi have seen a structural retreat, delaying EV models and relying on partners for technology, resulting in a sharp decline in their Chinese presence.
Despite Leapmotor’s impressive growth trajectory, its target of reaching 1 million units in 2026 appears ambitious, as it currently sits at only 35.6% to 45.8% of that goal by mid-year. Its future growth heavily relies on the stability of European demand.
