Leapmotor sales fell 34% month-on-month in January, with price cuts for all models stimulating the market

According to news on February 2, data recently released by Leapmotor showed that the company’s sales reached 12,277 new cars in January this year. Despite significant year-on-year growth, sales were down 34% compared to December. This data has attracted market attention to the sales prospects of Leapmotor this year. Leapmotor's January sales increased by a certain margin, indicating that the company is gradually expanding its market share. However, the sales decline compared to December is indeed concerning. This may be due to reduced consumer demand for car purchases during the holidays and intensified market competition. For Leapmotor, how to deal with the challenge of declining sales will be a challenge. Leapmotor’s sales target this year is 300,000 to 400,000 vehicles, but judging from the sales results in January, it is difficult to achieve this goal. The goal is still a long way off. Therefore, Leapmotor decided to reduce the prices of all models by as much as 40,000 yuan. This move is aimed at stimulating consumer demand and increasing sales.

Leapmotor is currently holding an event to provide a series of preferential measures for car owners who pay a deposit of 5,000 yuan through official channels and finally achieve delivery. For the C11 model, customers can enjoy a comprehensive discount of up to 28,680 yuan, including six gifts including a cash gift of 5,000 yuan and a financial gift of up to 8,000 yuan. For the C01 model, the comprehensive discount reaches 40,680 yuan, including six discounts including a cash gift of up to 17,000 yuan and a financial gift of up to 8,000 yuan. In addition, the T03 family also provides five gifts with a comprehensive discount of up to 17,630 yuan, including cash gifts of up to 10,000 yuan and financial gifts of up to 3,000 yuan. This promotion will last until February 29th.

Zhu Jiangming, founder, chairman and CEO of Leapmotor, said in a recent interview with the media that as competition in the new energy vehicle market intensifies, the price of new energy vehicles this year will will fall further. He believes that as the sales of new energy vehicles continue to grow, the price of lithium batteries is close to the bottom, and the prices of new energy-related components such as high-voltage wiring harnesses, electric drives, cameras, radars, etc. will also decrease with the expansion of scale. This undoubtedly provides new energy vehicle manufacturers such as Leapmotor with greater room for price reduction and market competitiveness.

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