Key Takeaways:
Chery Automobile Co., Ltd. (09973.HK) announced April vehicle sales jumped 27% year-on-year to 236,427 units, propelled by record export volume and robust demand for its new energy vehicles.
"The unaudited figures suggest Chery is consolidating its position in new energy and export markets," TipRanks analysts noted in a May 3 report, while highlighting the divergent trends across the company's brand portfolio.
Exports surged to 172,023 vehicles in April, a 17.7% increase from March, accounting for nearly 73% of total sales. Sales of new energy vehicles (NEVs) reached 90,519 units. For the first four months of 2026, however, cumulative sales showed more moderate growth, rising 4.1% to 802,547 units. Despite the strong report, Chery’s Hong Kong-listed shares fell 4.88%.
The results underscore Chery's increasing reliance on overseas markets to drive growth as domestic competition intensifies. However, the poor performance of its premium brands raises questions about its multi-brand strategy and ability to capture higher-margin segments.
The automaker's export strategy has found significant traction in markets like Australia, where its Jaecoo J5 EV, launched under a lifestyle sub-brand, has received over 4,000 orders. According to reports, the model's aggressive sub-$37,000 launch price and rising fuel costs have been key drivers of consumer interest.
While the core CHERY-branded models drove the April sales surge, the company's announcement highlighted a sharp decline in its premium and niche brands, EXEED and LUXEED. This mixed performance suggests Chery may face challenges in balancing resources between its high-volume, mass-market lines and its underperforming premium offerings.
The April figures confirm Chery's strength in exports and NEVs, but also expose weakness in its premium brand strategy. Investors will be closely watching the company's next monthly sales report to see if it can sustain export momentum while addressing the lag in its higher-end vehicle segments.
This article is for informational purposes only and does not constitute investment advice.
