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Domestic auto market under pressure, multiple automakers compete in overseas markets | Going global • Automobiles
Caixin Recently, several automakers released their 2025 financial reports and disclosed their 2026 plans. Domestic market growth is expected to slow down, while overseas markets have become a shared focus for many automakers.
Chery Automobile (09973.HK) is the leading exporter among domestic automakers, with exports increasing by 33.2% year-over-year to 1.294 million units in 2025. In 2025, Chery’s retail sales of passenger vehicles in China increased by only 1% year-over-year, with most of the growth in sales and revenue coming from overseas. The financial report shows that in 2025, overseas markets contributed approximately 49.2% of Chery’s sales volume, but accounted for 52.4% of revenue. This indicates that Chery’s profit growth is mainly driven by overseas markets.
Chery Group, the parent company of Chery Automobile, set a sales target of 3.2 million units for 2026, including 1.6 million exports. Chery Automobile is the main business entity of Chery Group, with exports accounting for 96.3% of the group’s total in 2025. Based on this, it is estimated that Chery’s export target for 2026 will exceed 1.5 million units.