BYD, Chery Achieve 80% Overseas Growth Amid EV Surge

Chery, China’s largest car exporter, delivered 181,571 vehicles overseas in May, marking 73% of its sales. This highlights its international growth amid a domestic slump, mirroring peers like BYD.

Key Points

• Chery, China’s largest car exporter, delivered three times more vehicles overseas than domestically in May, totaling 181,571 units. Overseas sales made up 73% of its total, up 81% from the previous year. This underscores Chery’s evolution into a global player.

• Other Chinese automakers like BYD and Great Wall Motor are also expanding internationally. BYD saw an 81% rise in overseas sales, representing 42% of its total sales.

• International success is crucial amid a domestic sales slump. Higher prices for Chinese-made cars in markets like Europe and Southeast Asia help offset reduced revenue at home due to declining government incentives.

Chery, a leading force in China’s automotive sector’s global expansion, has marked significant success in international markets, exporting three times more vehicles overseas than within China last month. Headquartered in Anhui province, Chery delivered 181,571 vehicles outside mainland China in May, reflecting an 81% increase from the previous year. Notably, overseas sales comprised 73% of the company’s total sales for the month, highlighting its evolution into a prominent international player.

Phate Zhang, founder of CnEVPost, emphasized Chery’s growing global presence, also pointing out that other Chinese automotive companies like BYD and Great Wall Motor are expanding internationally. BYD, acclaimed as the world’s largest electric vehicle manufacturer, recorded a similar 81% rise in overseas sales, with 160,177 units, accounting for 42% of its total sales.

The international success of Chinese carmakers has gained added significance due to a domestic sales slowdown triggered by reduced government incentives. Analysts suggest that while domestic markets are faltering, the higher prices commanded by Chinese-made cars in regions such as Europe and Southeast Asia effectively offset the loss of revenue at home.

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