Chery Automobile reports profit decline for first nine months of 2026
Chinese automaker Chery reported a net profit of 13.96 billion yuan for the first three quarters of 2026, marking a 2.8% year-on-year decline despite revenue growth.
Chery Automobile posted total revenue of 241.23 billion yuan for the first nine months of 2026, a 12.29% increase compared to the previous year. While the company saw its gross profit climb to 39.04 billion yuan and gross margin improve to 16.17%, the net profit attributable to parent company owners fell to 13.96 billion yuan.
The decline in profitability is largely attributed to higher operating costs, including research and development expenditures that reached 11.05 billion yuan, and net foreign exchange losses totaling 3.17 billion yuan. The company’s debt-to-asset ratio rose to 81.1% during the period.
As a prominent Chinese vehicle exporter with a presence in over 100 countries, Chery is currently prioritizing international expansion, particularly in the European market. The company has set a growth target of 20% for both sales and profit in 2027 as it continues to invest in new energy vehicle technologies.