Leapmotor's monthly sales broke 100,000 again. It's not that the data lacks impact, but "100,000" is now as routine for them as refueling at a gas station. Meanwhile, the European registration volume sees pure electric models in the top three in France, Germany, Italy, and Spain. This number is more worth discussing than domestic monthly sales.

100,000 monthly sales have become a cost threshold rather than a performance benchmark

July, August, and September consecutively reached 100,000. September hit 105,656 units, a 59% year-over-year increase, ranking top four among global new energy brands, still number one among new forces. Two years ago this was big news; now it's just the baseline.

The underlying logic is still that proprietary cost accounting. The LEAP5.0 architecture was just explained at the September Technology Day, integrating CTC3.0 batteries, LWM assisted driving, and MM-i hybrid electric drive onto the same chassis platform. After raising architecture commonality, the more electric drives, wiring harnesses, and domain controllers shared between SUVs and sedans, the thinner the R&D cost per unit becomes.

Top three in European registration volume is worth ten times more than exporting 150,000 units

September alone exported over 27,000 units, with cumulative exports over 150,000 units from January to September, submitting the 2026 export goal early. France, Germany, Italy, and Spain, the four core European markets, all saw pure electric registration volumes enter the top three.

Export volume is the number on the ship; registration volume is the number on the street. The former can be achieved by pressing inventory, while the latter requires users to truly pay, outlets to truly deliver, and after-sales to truly support. Leapmotor leveraged Stellantis channels to deploy over 1,000 European outlets, and localized assembly in Malaysia and Spain has also started, bypassing the most capital-intensive phase of new forces building their own channels.

Taking the D19 to Paris is not showing off muscles, but probing the water level

At the October Paris Motor Show, Leapmotor will enter with the D19 and A05. A05 is easy to understand, 510 km range plus LiDAR compressed under 100,000, sticking to the tech accessibility approach, going to Europe as a cost-performance sample. D19 is different, a 5.2-meter flagship SUV, offering both pure electric and extended range, responsible for raising the average price domestically, while Paris is responsible for establishing the brand persona.

Foreign media are more concerned about whether a Chinese brand that grew volumes through cost strategies can stand the two words "high-end" at the doorstep of established car manufacturers. To put it bluntly, this trip for D19 is not to pick up orders, but to probe the European acceptance level for Leapmotor brand premium.

Don't rush to hype it into a global brand

Writing to this point, I need to pour a cup of cold water. Monthly sales stabilizing at 100,000, European registration entering the top three, having a flagship standing at Paris, Leapmotor is indeed in the forefront among new forces, but it's not time to relax yet.

The fourth quarter looks at three things: Can monthly deliveries reach 110,000 without falling back? Can European registrations expand from top three in four countries to Northern Europe and the UK? After LEAP5.0 lands, can vehicles like D19 truly pull up the average price per unit? After passing these three hurdles, Leapmotor will not be just the brand best at saving money, but a Chinese automaker qualified to talk system competition with global players.