BYD, Leapmotor gain share in shrinking China EV market; small rivals face losses

China's EV market contracted in August amid weak consumer demand, but BYD and Leapmotor posted strong sales growth, with BYD up 17.8% YoY to 440,293 units. Smaller players are expected to see falling sales and mounting losses as competition intensifies. This divergence signals consolidation in the sector, favoring scale players.