The semi - annual reports of new car - building companies are out. Leapmotor ranks first. The up - and - comers are surging forward, and the second - generation automakers are staging a collective comeback.

It's time to check the mid - year report cards of car companies.

In the past six months, the price war has continued. In the competition for sales volume, car companies have offered fixed - price deals or various preferential policies to attract customers. Especially with the entry of Xiaomi, a disruptor in the market, the intensity of the knockout competition has soared.

Even though the position of new - energy vehicle startups has gradually stabilized, most of them still have a weaker financial foundation compared to traditional car companies. In this situation, once traditional car companies react, the second - generation car startups may lose their edge.

For example, Geely's ZEEKR Technology Group sold 43,012 vehicles in June, ranking third after Leapmotor and AITO. Brands like Deepal, Avita, and Voyah also had double - digit or even triple - digit year - on - year growth in June.

An obvious trend is that new - energy vehicle startups like Leapmotor and XPeng, which have found their footing, are making a strong comeback. Traditional car companies have also woken up and are trying to regain their market share. Some are even eyeing the overseas market.

Okay, let's take a look at the specific figures.

01 Undercurrents among the Top Three

The top three in sales volume usually represent the first - tier players. Initially, NIO, XPeng, and Li Auto were firmly in this group. However, from a sales perspective, new players have broken into this exclusive club. It should be noted that when we divide the new - energy vehicle startups into the top three, they are Leapmotor, AITO, and Li Auto.

Leapmotor: The Dark Horse

48,006 vehicles. This is the delivery data Leapmotor announced for June, a year - on - year increase of over 138%, setting a new historical record.

With this achievement, Leapmotor has ranked first in domestic new - energy vehicle startup sales for four consecutive months.

Since the beginning of this year, Leapmotor has been on a roll. In January, its delivery volume was 25,000 vehicles. In just half a year, the delivery volume reached 48,000 vehicles, almost a doubling of sales.

At the end of 2024, Zhu Jiangming, the founder of Leapmotor, said, "Customers will only pay for products that offer excellent value for money." Looking at the current situation, the value of this statement is constantly increasing. High cost - performance has always been Leapmotor's trump card. Its strategy of offering low - priced vehicles with high - end features and full - stack self - development has been the key to its consecutive victories as the sales champion among new - energy vehicle startups.

In addition, the increase in delivery volume also benefits from the rapid expansion of its terminal sales stores.

In the past six months, through its cooperation with the Stellantis Group, Leapmotor has been expanding overseas at a rapid pace, opening stores globally. The number of its sales stores increased from 800 at the end of 2024 to 1,500 in June 2025, an increase of 700 stores in just half a year.

In the second half of the year, Leapmotor will continue to update its products and maintain its growth momentum. Recently, Leapmotor's new intelligent all - electric sedan, the Leapmotor B01, has started pre - sales. The new car is positioned as a "high - quality intelligent sedan for young people."

With the same "affordable and feature - rich" strategy, the Leapmotor B01 is equipped with a lidar and has a maximum range of 650 km. The pre - sale price ranges from 105,800 to 135,800 yuan. Since Leapmotor launched its B - series models, they have been popular, and this trend is likely to continue.

AITO: "Self - Defined" Sales Champion

Judging solely from sales volume, AITO overtook Li Auto in June with a significant margin. It delivered a total of 44,685 vehicles, a year - on - year increase of 5% and a month - on - month increase of 22%, ranking second on the list. Among them, 13,718 were AITO M9s and 21,185 were AITO M8s. The sales of the AITO M7 and M5 were not announced.

It is not difficult to see that with the delivery of the AITO M8, AITO achieved explosive sales in June.

However, it should be noted that in AITO's official publicity, it claims to be the "monthly sales champion of Chinese new - energy vehicle startups". However, from the publicly available sales data, Leapmotor clearly outperforms it.

Thanks to AITO's strong performance, the total sales volume of the HarmonyOS Smart Mobility ecosystem reached 52,747 vehicles in June. Calculated by the group brand sales, HarmonyOS Smart Mobility is the sales champion on the list. Moreover, it achieved cumulative deliveries of 800,000 vehicles in 39 months, setting the fastest delivery record for new - energy vehicle startups.

In addition to AITO, the Enjoy Auto brand delivered 4,154 vehicles last month. The Enjoy S9 became the best - selling new - energy sedan priced over 300,000 yuan. However, HarmonyOS Smart Mobility did not announce the delivery volumes of the Zhijie and Zunjie brands.

Li Auto: Gearing up for All - Electric

The day of the sales release also marks the 10th anniversary of Li Auto's establishment. Li Auto celebrated this occasion with solid performance.

According to the recently released delivery data, Li Auto delivered 36,279 new vehicles in June. The cumulative delivery volume in the second quarter reached 111,074 vehicles. As of June 30, 2025, Li Auto's cumulative historical delivery volume was 1,337,810 vehicles.

It is not difficult to notice that, unlike other new - energy vehicle startups that are making rapid progress, Li Auto has slowed down.

However, Li Auto remains the most stable new - energy vehicle startup. Since the launch of the Li ONE, it has always been in the first - tier of new - energy vehicle startups.

To some extent, never being labeled as a "dark horse" is actually an affirmation of Li Auto.

In the first half of the year, Li Auto completed the intelligent upgrade of all its existing models. Among them, the Li MEGA became the best - selling MPV priced over 500,000 yuan regardless of energy type.

In the second half of the year, the main theme for Li Auto is the promotion of all - electric products. The Li i8, which is both the first all - electric SUV model and a six - seat all - electric SUV, will be launched in July. The five - seat family all - electric SUV, the Li i6, will be launched in September.

At that time, there will be more to look forward to from Li Auto.

02 The "Xiao" Brands Laugh Last

Supported by the MONA M03 series, XPeng is striving to return to the top of the new - energy vehicle startup list.

Benefiting from the continuous popularity of the XPeng P7+ and XPeng MONA M03, XPeng's sales have been quite stable this year. It even once became the sales champion among new - energy vehicle startups.

In June 2025, XPeng delivered a total of 34,611 new vehicles, a year - on - year increase of 224%. It also achieved a monthly delivery volume of over 30,000 vehicles for eight consecutive months.

In the second quarter of 2025, XPeng's cumulative delivery volume reached 103,181 vehicles, setting a new quarterly record. From January to June 2025, XPeng's cumulative delivery volume of new vehicles reached 197,189 vehicles, exceeding its total delivery volume in 2024.

This means that XPeng's sales volume this year will be at least twice that of last year. It also has the highest achievement rate of the annual sales target among new - energy vehicle startups in the first half of this year, reaching 52%.

Behind this is XPeng's efforts with its redesigned models since the beginning of this year.

For example, the XPeng X9 delivered 7,451 vehicles in the second quarter, a month - on - month increase of 112% and a year - on - year increase of 41%. The 2025 XPeng X9 has been the best - selling all - electric MPV for two consecutive months since its launch. The redesigned XPeng G6 also delivered 8,700 vehicles in June.

XPeng's first AI - powered car, the P7+, has achieved cumulative deliveries of over 62,000 vehicles thanks to its "equal - access intelligent driving" strategy. It has been the best - selling mid - to large - sized all - electric sedan in the 150,000 - 200,000 - yuan price range for seven consecutive months.

Needless to say, the XPeng M03 series is currently the main contributor to XPeng's sales. The XPeng MONA has achieved monthly deliveries of over 10,000 vehicles for ten consecutive months since its launch. Recently, the immediate delivery of the XPeng MONA M03 Max after its launch gave a significant boost to XPeng's sales in June. It accounts for over 80% of the M03 orders.

XPeng also has new growth points in the future.

Recently, the XPeng G7, known as the world's first L3 - level computing power AI car, was officially unveiled and pre - sales began. It is available in two versions, Max and Ultra, with a pre - sale price of 235,800 yuan. In just 46 minutes after pre - sales started, the small - order volume exceeded 10,000 vehicles.

Although the data looks good, it is still uncertain whether the XPeng G7 can break through in the context of the high - demand YU7. After the launch of the YU7, its order volume has almost captured the entire all - electric mid - sized SUV market.

Xiaomi's Happy Problem

Xiaomi Auto also announced the delivery volume of the Xiaomi SU7 in June, which exceeded 25,000 vehicles. Calculated based on 25,000 vehicles, its sales volume in June increased by approximately 74% year - on - year, but decreased month - on - month. In May, Xiaomi Auto delivered over 28,000 vehicles.

However, as a brand that has continuously created history in the Chinese automotive industry, it is well - known that orders are never a constraint on Xiaomi Auto's sales.

This means that the current problem for Xiaomi Auto is not how to sell more cars, but how to produce them faster.

Although there was a month - on - month decline in deliveries in June, it is most likely due to the need to quickly deliver new vehicles after the launch of the Xiaomi YU7.

A batch of ready - to - deliver vehicles was prepared before the launch of the YU7. Currently, only the first - phase factory of Xiaomi Auto's vehicle manufacturing plant in Yizhuang, Beijing, is in operation. Obviously, the production capacity of the Xiaomi SU7 had to be diverted to achieve this.

Based on the sales data of the Xiaomi SU7 in the previous months, it is not difficult to infer that the current first - phase factory is operating at its peak production capacity of 20,000 - 30,000 vehicles per month under double - shift operation.

This is far from enough for Xiaomi. As of now, within just 3 minutes of the launch of the Xiaomi YU7, the large - order volume exceeded 200,000 vehicles. One hour later, the large - order volume exceeded 289,000 vehicles.

The official commissioning of the second - phase factory has become a top priority. According to online rumors, the second - phase factory will start production as early as July. The latest news shows that Xiaomi