Chery Automobile released its 2026 first-half financial report on August 20, revealing total operating revenue of 143.28 billion yuan, representing a 1.2% year-on-year increase. The standout performer was the new energy vehicle (NEV) segment, which generated revenue of 59.284 billion yuan, surging 59.3% compared to the same period last year.
NEV revenue now accounts for 41.4% of Chery's total revenue, a significant increase reflecting the company's accelerated transition toward electrification. However, net profit attributable to shareholders stood at 8.567 billion yuan, down 11.7% year-on-year, reflecting the intense investment in R&D and market expansion during this transformation period.
The company stated that it will continue to drive the electrification and intelligent transformation of passenger vehicles in the second half of the year, alongside advancing its globalization strategy. Chery has been expanding its overseas presence, with exports serving as a key growth driver.
This financial performance comes amid a broader industry trend where China's NEV market penetration rate first crossed the 60% threshold in July 2026, with domestic sales reaching 1.561 million units. The China Association of Automobile Manufacturers confirmed that July's monthly penetration rate hit 60.4%, while the cumulative rate for January through July stood at 51.2%, marking the first time the half-year figure exceeded 50%.
Domestic brands captured a record 77.4% share of the passenger vehicle market in July, up 7.2 percentage points year-on-year, while French and other joint-venture brands saw their shares drop below 10%.
Image: BYD Flash Charging 1500 kW charging station. Source: Wikimedia Commons (CC BY 3.0, China News Service).
