Chery Reports Q1 2026 Revenue of RMB 65.87 Billion, Exports Surge 53.9% to 393,000 Vehicles

In Q1 2026, China’s auto market recorded retail sales of 4.236 million vehicles, down 17% year-over-year. During the same period, Chery Automobile reported revenue of RMB 65.87 billion and gross profit of RMB 10.564 billion, up 24.9% year-over-year, with its gross margin rising from 12.39% to 16.04%. Net profit attributable to shareholders stood at RMB 4.17 billion. While the industry’s average profit margin in Q1 was only 2.9%, Chery achieved逆势 growth in gross profit through optimized product mix and effective control of raw material costs. R&D investment in Q1 reached RMB 2.85 billion, a 25.5% year-over-year increase, bringing cumulative R&D investment to over RMB 30 billion. Financial expenses declined year-over-year, cash flow remained robust, and asset structure continued to improve. As of the end of Q1, Chery’s total assets amounted to RMB 279.038 billion, up from the end of 2025, while net assets rose to RMB 55.31 billion, also higher than at year-end 2025. Chery Group sold 601,712 vehicles in Q1, including 161,202 new energy vehicles (NEVs). Exports totaled 393,311 units, surging 53.9% year-over-year—marking the 23rd consecutive year that Chery has led Chinese passenger vehicle brands in overseas exports—and cumulative exports have now surpassed 6 million units. The company’s global user base reached 19.12 million, with over 6.23 million users overseas. In Europe, Chery has entered 18 countries. In January and February 2026 alone, it sold 39,135 vehicles in the UK and EU, a 200% year-over-year increase, including 11,484 NEVs—a 250% surge. Europe accounted for 20% of Chery’s total NEV exports. Central and South America also showed strong growth momentum. On the product front, Chery launched a flurry of new models in Q1: - On April 22, the all-new Tiggo 9 debuted with prices ranging from RMB 159,900 to RMB 179,900, offering an early-bird price starting at RMB 146,900. It features the Kunpeng Tianqing engine and HEV technology with a 5 kWh battery. - At the Beijing Auto Show on April 24, Chery showcased 57 models and 31 technologies across six brands, covering all powertrain types—ICE, hybrid, range-extended, and pure electric. Under the Chery brand, five concept cars—including the Tiggo X and Arrizo S—were unveiled, and pre-orders opened for the Fulwin A9. EXEED presented eight models, including the X-CONCEPT and ES7 GT. Jetour launched the Traveler PLUS series. iCAR introduced the ROBOX concept car along with the V23 and V27 models. FREELANDER, Chery’s joint luxury NEV brand with Jaguar Land Rover, made its global debut on March 31, with its first production model named “Freelander 8,” scheduled for its China premiere in the second half of the year. Chery has now built a comprehensive NEV portfolio spanning price points from RMB 50,000 to RMB 500,000 and vehicle segments from microcars to luxury MPVs. The all-new QQ3 has received 56,879 orders, the Fulwin T9L garnered 15,829 pre-orders within 24 hours of its launch, the iCAR V27 has officially gone on sale, the EXEED EX7 has begun blind pre-orders, and the flagship smart MPV ZhiJie V9 made its debut.