China is under pressure from the zero covid policy and car sales in April in China have fallen drastically due to confinements. Nio’s production volume is down 49% from March, LI Auto is down 62% and Xpeng is down 42%; Shanghai East no longer supplies these companies with parts produced in their factories. Neta is another start-up that is growing fast to make it into the big league. Neta sold 38,965 cars in 4 months, ranking 3rd and expects to climb to 2nd place over the period with its three SUVs Neta N01, V and U. Leap Motor, for its part, is holding up better.
Leap Motor is also benefiting from the growth in sales of its C11 SUV and its T03 city car. This result reinforces its ambitions with the upcoming arrival of the C01 sedan. The brand expects to double its sales this year. Leap sold 43,748 cars in 2021, and all these brands seem to be aiming for the symbolic 100,000-car mark in 2022.
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