Chery Reports Strong Q1 2026 Results: Exports Surge 53.9%, Accounting for 65% of Total Sales

Chery Automobile delivered a resilient performance in the first quarter of 2026 despite challenging industry conditions. Supported by robust global export growth and effective cost management, the company posted solid financial results.

Key Financial Highlights

Total Revenue: RMB 65.87 billion (approximately RM 42.7 billion)

Gross Profit: RMB 10.564 billion, up 24.9% year-on-year

Net Profit: RMB 4.17 billion

Although net profit saw a slight decline compared to the same period last year due to higher R&D and distribution expenses, the significant improvement in gross profit margin demonstrates Chery's growing strength in supply chain optimization and production efficiency.

Global Exports Drive Growth

One of the most impressive highlights is Chery's accelerating global expansion. In Q1 2026, it achieved:

• Total Group Sales: 601,712 units
• Overseas Exports: 393,311 units, representing a strong 53.9% year-on-year increase
• New Energy Vehicle (NEV) Sales: 161,202 units

Exports now account for nearly 65% of Chery's total sales volume, underscoring the company's transformation from a Chinese domestic player into a truly global automotive brand. Malaysia, as a key Right-Hand Drive (RHD) production and export hub for Southeast Asia, continues to play a strategically important role in this expansion.

Heavy Investment in Future Technologies

Chery maintained aggressive R&D spending, investing RMB 2.85 billion (approximately RM 1.85 billion) in the first quarter alone — a 25.5% increase year-on-year. The company's cumulative R&D investment has now exceeded RMB 300 billion, with focus directed towards smart cockpits, advanced ADAS systems, solid-state battery technology, and long-range EV development.

Resilience Amid Market Challenges

While China's domestic auto market experienced a difficult start to 2026, with sales dropping more than 20%, Chery's diversified global presence across markets such as Malaysia, Brazil, and Europe has effectively reduced reliance on any single market, ensuring stable cash flow and a healthy financial position.

What This Means for Malaysian Consumers

A financially strong Chery is positive news for Malaysian owners and potential buyers. Greater financial stability typically translates into improved after-sales service, better spare parts availability, and a faster rollout of new models under the OMODA, TIGGO, and JAECOO series.

Chery's solid Q1 performance reinforces its position as one of the fastest-growing and most resilient Chinese automotive brands in the global market.