Chery Automobile, now producing vehicles in Barcelona with Ebro Motors, saw its overseas revenue surpass domestic sales for the first time. Despite a 9% drop in profit, the company’s international expansion is reshaping its business.
Chery Automobile, the Chinese automotive group now manufacturing vehicles in Barcelona through its partnership with Ebro Motors Group, has reported a significant shift in its business model. For the first time, the company’s revenue from international markets has overtaken its domestic sales, marking a turning point for the brand as it adapts to changing global demand.
According to figures cited by elespanol motor, Chery closed the first half of the year with a net profit of 9.016 billion yuan (€1.15 billion), representing a 9% decline compared to the same period last year. The company’s net attributable profit fell even further, down 11.7% to 8.567 billion yuan (€1.09 billion). This drop is attributed to currency fluctuations, increased investment in research and development, higher administrative costs, a heavier tax burden, and reduced contributions from joint ventures and affiliates.
Despite these pressures, Chery’s overall revenue remained stable at 143.28 billion yuan (€18.23 billion), up 1.2% year-on-year. The most notable development is the surge in overseas sales, which reached 98.97 billion yuan (€12.59 billion)—a 51% increase over the previous year. In contrast, revenue from the Chinese market, including Hong Kong, Macao, and Taiwan, fell sharply by 41.7% to 44.31 billion yuan (€5.64 billion). As a result, 70% of Chery’s total revenue now comes from outside China, a jump of 23 percentage points in just one year.
Breaking down the business lines, vehicle sales accounted for 90% of Chery’s revenue, totaling 128.8 billion yuan (€16.39 billion), roughly matching last year’s figures. However, the composition of these sales has changed: combustion engine models brought in 69.51 billion yuan (€8.84 billion), down 24.8%, while new energy vehicles generated 59.28 billion yuan (€7.54 billion), up an impressive 63.8%. New energy vehicles now represent 46% of Chery’s car sales revenue, reflecting the global shift toward electrification—a trend also highlighted in the growing dominance of Chinese battery manufacturers, as seen in recent industry analysis.
Chery’s components business grew by 7% to 10.04 billion yuan (€1.28 billion), and other income streams rose 35.5% to 4.44 billion yuan (€565 million). The company’s workforce expanded significantly, reaching 71,580 employees worldwide—an increase of over 13,000 in a year. Personnel costs climbed nearly 20% to 9.08 billion yuan (€1.16 billion).
This international expansion stands in contrast to the restructuring underway at major European automakers, particularly in Germany. Since mid-2025, the European automotive sector has announced plans to cut nearly 147,000 jobs by 2035, with Volkswagen, Porsche, Audi, and BMW accounting for the majority of reductions. These cuts are largely a response to declining sales in China, the world’s largest car market, and intensifying competition from Chinese brands like Chery.
Chery’s move to produce vehicles in Barcelona, utilizing the former Nissan plant in the Zona Franca, signals a broader strategy to anchor its growth in Europe and other international markets. As the company navigates a challenging domestic environment, its ability to adapt and invest abroad may prove decisive for its future position in the global automotive industry.
