Core Insights - Leap Motor has achieved significant order growth, with over 17,000 new orders in the week prior and more than 25,000 during the National Day holiday, indicating strong market demand [1] - The CEO of Leap Motor, Zhu Jiangming, reported a record high in sales during the holiday period, with a year-on-year increase of 62%, and noted that dealer inventory is maintained at less than one month, reflecting a healthy production and sales balance [1] - Leap Motor's new flagship model, the D19, is set to debut globally on October 16, targeting the high-end SUV market with advanced technology [1] - The D series SUV is positioned as Leap Motor's first flagship product priced around 300,000 yuan, aiming to compete in the full-size SUV segment with leading industry technology [1] - In September, Leap Motor announced a record high in total deliveries, reaching 66,657 units, which represents a year-on-year growth of over 97%, with monthly sales surpassing 60,000 units for the first time [1]

Core Viewpoint - The article discusses the challenges faced by Leap Motor, particularly regarding its autonomous driving features and ambitious sales targets, amidst customer dissatisfaction and skepticism about its brand positioning in the market [2][10]. Group 1: Customer Feedback and Product Performance - Customers have expressed significant dissatisfaction with Leap Motor's autonomous driving capabilities, citing instances of system failures shortly after purchase [4][6]. - A specific case highlighted a customer experiencing two failures of the autonomous driving system within 12 days of ownership, raising safety concerns [4]. - The sales team acknowledged the shortcomings of the autonomous driving features, indicating that they are still in the early stages of development and will require further upgrades [6]. Group 2: Sales Performance and Market Position - Leap Motor reported a substantial increase in vehicle deliveries, with 57,066 units delivered in August, marking an 88% year-on-year growth [7]. - Despite this growth, the average selling price of Leap Motor vehicles remains low at 109,000 yuan, significantly lower than competitors like Xiaopeng and NIO [8][11]. - The company aims to introduce a new model priced at 300,000 yuan, but faces skepticism regarding its ability to support this price point given its current brand perception and product performance [9]. Group 3: Future Goals and Financial Performance - Leap Motor's chairman set an ambitious target of achieving annual sales of one million vehicles, a goal that appears increasingly unrealistic based on current performance metrics [10][15]. - The company reported a revenue of 24.25 billion yuan in the first half of the year, with a net profit of only 33 million yuan, indicating that while it has achieved profitability, the scale of profit is minimal [11][12]. - Leap Motor plans to expand its product lineup significantly over the next three years, aiming to cover the 60,000 to 300,000 yuan market segment with multiple series of vehicles [8][14].