Text / Yang Xuejian Source / NodeAuto

The first performance report card for the second half of the 2026 automotive market is now available.

On August 1st, leading new energy vehicle (NEV) brands sequentially unveiled their delivery statistics for July. Leapmotor achieved a historic milestone by surpassing 100,000 units in a single month, setting a new record; HiMode Intelligent Travel maintained deliveries around the 40,000-unit mark; XPeng and NIO both exceeded 35,000 units; Li Auto and Xiaomi each reached the 30,000-unit threshold.

Despite July traditionally being a slow season for the automotive market and a critical period for product transitions and production capacity adjustments in the second half of the year, the competitive landscape among new forces has already undergone significant reshaping at the outset of the second half. At first glance, mainstream new forces appear to have maintained their market positions. However, a closer comparison with last year's data reveals notable differences: Leapmotor continues to surge ahead, NIO and XPeng are also experiencing growth, while others have slowed down to varying degrees.

01. Leapmotor: Surpassing 100,000 Units—A New Benchmark

In July, Leapmotor delivered 101,267 new vehicles, marking a year-on-year increase of 102% and surpassing 100,000 units in a single month for the first time.

This is a landmark achievement.

Having set a record with 93,376 units in June, Leapmotor further grew by approximately 8.5% month-on-month in July, becoming the sole new forces brand currently delivering over 100,000 units monthly. Compared to HiMode Intelligent Travel, which ranks second, the gap in monthly deliveries has widened to over 56,000 units.

Reviewing Leapmotor's performance since the beginning of the year, the real turning point occurred in March with 50,029 units delivered. Since then, its monthly sales have steadily climbed from 50,000 to 70,000, 80,000, 90,000, and finally to 100,000 units, with virtually no interruption in the growth trajectory.

By the end of July, Leapmotor's cumulative deliveries for the year had reached approximately 458,000 units. This performance still leaves a gap of over 540,000 units from its annual target of 1 million units. In other words, over the remaining five months of 2026, Leapmotor needs to achieve an average monthly delivery of about 108,000 units.

NodeAuto believes that Leapmotor's greatest advantage no longer lies solely in its "high specs at low prices" strategy, but rather in the explosive growth driven by simultaneous contributions from its diversified product matrix, efficient supply chain, and expanding overseas markets. While other new forces still rely on one or two flagship models to drive sales, Leapmotor has adopted a rhythm more akin to that of a large-scale automaker, with ten models that are all "competitive" in their respective market segments.

The question now is whether monthly sales of 100,000 units can become the norm rather than a one-time spike. NodeAuto remains optimistic. From a product perspective, the more "volume-driven" A05 is about to launch, the D99 has entered the delivery phase, and the B-series and C-series are expected to drive further growth in the European market in the second half of the year. Perhaps Leapmotor will continue to lead by a substantial margin in the coming months.

02. HiMode Intelligent Travel: Preparing for Launch of Three New Models

HiMode Intelligent Travel delivered 45,046 new vehicles in July, representing a year-on-year decrease of about 5.67% and a month-on-month decrease of about 11% from June. However, cumulative deliveries from January to July reached 286,000 units, a year-on-year increase of 13.7%.

Ranking second after Leapmotor, HiMode Intelligent Travel remains at the forefront of the new forces. To date, its total cumulative deliveries have surpassed 1.48 million units.

HiMode Intelligent Travel operates five brands—AITO, Luxeed, Enjoyment, Zunjie, and Shangjie—with product coverage spanning from the mainstream market to the luxury segment worth millions of yuan. Across the entire new forces landscape, such broad product coverage is its greatest strength.

However, having multiple brands and products does not automatically translate into stacked sales. Currently, HiMode Intelligent Travel still needs to address how to balance the positioning, price ranges, and launch timings of its different brands. After all, it cannot rely solely on AITO for stable output; the other four brands must also quickly develop sustained and strong delivery capabilities.

NodeAuto believes that HiMode Intelligent Travel is not lacking in products, attention, channels, or visibility. The real test is whether it can integrate its five brands into a well-coordinated team. The good news is that two major MPVs from HiMode Intelligent Travel, the Zunjie V800 and V680, are set to launch on August 5th, and the off-road SUV Enjoyment G9 will also open for reservation (pre-orders). These three models are expected to boost HiMode Intelligent Travel's sales in the second half of the year.

03. XPeng: Holding Steady Amid Competition

In July, XPeng Group delivered 38,027 new vehicles, a year-on-year increase of 4%, though a month-on-month decrease of about 5.2% from June.

Judging by sales figures, XPeng remains firmly in the first tier, trailing only Leapmotor and HiMode Intelligent Travel. However, the year-on-year growth and month-on-month decline indicate that XPeng is still balancing between "stabilizing scale" and "unlocking growth."

In the first half of the year, XPeng delivered about 166,000 units, and after July, its cumulative deliveries for the year have exceeded 200,000 units. For XPeng, which has experienced product gaps and organizational adjustments in recent years, the ability to consistently maintain high monthly sales is itself a sign of a stabilizing system.

However, the challenges facing XPeng Group are clear: entry-level models serve as the foundation of its brand sales, while high-end products determine how far the brand can go and how much its profitability can improve.

If sales remain heavily dependent on entry-level products, then a larger scale does not necessarily mean faster profit improvement. Conversely, if high-end models like the XPeng GX can successfully take the baton, the technical labels and user perceptions XPeng has accumulated will have a chance to truly translate into brand premium and competitive advantages.

NodeAuto believes that XPeng is not lacking in the ability to tell technical stories; what matters more next is turning technology into real orders. For the second half of the year, the biggest question is when XPeng Group's monthly sales will cross the 40,000 and 50,000 thresholds.

04. NIO: Maintaining Consistent Performance

NIO delivered 35,934 new vehicles in July, a year-on-year increase of 71%, maintaining a relatively high year-on-year growth rate among mainstream new forces. However, compared to June's 40,597 units, NIO's July deliveries declined by about 11.5% month-on-month.

The coexistence of strong year-on-year growth and a double-digit month-on-month decline actually reflects NIO's current state. Compared to the same period in 2025, NIO's sales base has significantly expanded, and it has emerged from its "darkest hour." However, in terms of monthly rhythm, NIO still seems to lack explosive power and aggression.

NodeAuto believes that today's NIO can no longer be viewed through the lens of a single brand. The NIO brand targets the high-end market, Onvo serves mainstream family users, and Firefly enters the personalized compact car market. The increasingly clear division of labor among the three brands has further raised NIO's sales base.

By the end of July, NIO's cumulative deliveries for 2026 stood at about 227,000 units. For NIO, which has long faced dual pressure from sales and losses, this year's performance is cause for celebration. However, operating as a group also means higher costs for R&D, channels, and services. What NIO needs is not a sudden spike in one month but for all three brands to enter a state of stable deliveries.

For NIO, sales growth is just the first challenge. How to translate that growth into improved gross margins and cash flow is an even tougher one.

05. Li Auto: Stability at 30,000 Units—A Double-Edged Sword

In July, Li Auto delivered 30,468 new vehicles, a year-on-year decrease of about 0.86% and a month-on-month decrease of about 1.4% from June. Among the leading new forces brands, Li Auto experienced the smallest month-on-month fluctuation.

Li Auto was once the sales champion among new forces, and expectations for it clearly extend beyond just "holding 30,000 units." Especially with Leapmotor surpassing 100,000 units and HiMode Intelligent Travel maintaining above 40,000 units, Li Auto's current sales scale advantage is no longer as prominent.

Over the past few months, even in the face of cooling demand in the extended-range market and concentrated attacks from competitors, Li Auto has managed to hold monthly sales at around 30,000 units. Stability is Li Auto's strength, but it is also its greatest pressure at the moment.

By the end of July, Li Auto's cumulative deliveries for the year stood at about 224,000 units, with its historical cumulative deliveries reaching 1,764,200 units. In July, the new-generation Li L6 was officially launched, targeting the 200,000-300,000 yuan SUV market. In August, the Li L6 is set to surpass 400,000 deliveries, becoming the fastest extended-range model to reach this milestone in the 200,000 yuan-plus segment.

From these figures, it is clear that Li Auto has a massive base in the new forces landscape. In the first half of 2026, its overall growth space for older products is narrowing, while new products need time to take over. From extended-range to pure electric, and from smart cars to embodied AI, Li Auto is telling a bigger story, but these strategic investments must ultimately be tested by sales and profits.

NodeAuto believes that Li Auto has successfully completed its task of "holding" monthly sales at 30,000 units during the first-half transition. Entering the second half, Li Auto is expected to bring a more aggressive offensive to the market.

06. Xiaomi: Maintaining Momentum, But Specifics Remain Undisclosed

In July, Xiaomi's vehicle deliveries continued to exceed 30,000 units, but the official figures remain undisclosed.

In sales reviews, "over 30,000 units" has become a fixed expression for Xiaomi's vehicles. While this indicates a relatively stable delivery base, it also makes it difficult for outsiders to further gauge its true growth rate.

Based on publicly available data, Xiaomi's cumulative deliveries for the first seven months of this year have exceeded 210,000 units. Considering its current product lineup, this performance remains highly competitive.

Xiaomi's main challenge at present is not orders but the speed of production capacity release. The Xiaomi SU7 and YU7 have helped the brand go from zero to one, but to support a higher annual target, Xiaomi needs more production capacity and subsequent products to join the lineup as soon as possible.

On July 30th, Xiaomi's new Kunlun Technology Architecture (Xiaomi Kunlun Platform, Xiaomi Kunlun Super Extended-Range, Xiaomi Kunlun All-Domain Safety) was officially unveiled. Based on this new architecture, Xiaomi's Pengcheng series of extended-range SUVs quickly launched pre-sales. Among them, the Xiaomi Pengcheng N90 Max, positioned as a large seven-seat flagship extended-range SUV, has a pre-sale price of 299,900 yuan; the Xiaomi Pengcheng N70 Max, positioned as a large five-seat four-wheel-drive extended-range SUV, has a pre-sale price of 259,900 yuan.

Amid the trend of shrinking demand for extended-range products, Xiaomi Pengcheng is entering the market against the tide. Whether it can rekindle growth in the extended-range segment will be a major highlight of the second half of the year.

For Xiaomi's vehicles, the biggest悬念 in the second half is not whether the new models will "find buyers" but "how many can be produced" and whether new products can replicate the popularity of the first two models.

However, with new models joining the lineup, whether Xiaomi will continue to release vague sales figures or switch to precise numbers in its sales posters could also be seen as a minor side note.

07. Conclusion

The July sales rankings for new forces can be summarized as one "1" and five "3 to 4"s.

Leapmotor alone surpassed 100,000 monthly sales, beginning to form a true gap advantage; HiMode Intelligent Travel sits at the 40,000-unit level;