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China EV market narrows as BYD and Leapmotor outpace smaller rivals
Analysts warn weaker players face falling sales and mounting losses as the gap between top makers and bottom performers widens.
Top EV makers BYD and Leapmotor managed to post gains in August despite evidence that China’s overall electric vehicle market is shrinking amid weaker consumer demand, according to analysts cited by SCMP Economy.
The report said competition is intensifying for smaller automakers, which are expected to see sales fall and losses mount for the rest of the year even as leading manufacturers benefit from stronger momentum.
SCMP Economy also pointed to BYD’s position as the world’s largest EV builder, noting it has been supported by new model launches and buoyant exports as the company works its way back to steadier performance after a rough start in 2026.
Industry data provider CnEVPost founder Phate Zhang warned that a widening gap between winners and bottom players could push some underperformers out of the market within one or two years.