Chery Closes In on Three Million as October NEV Sales Set New Record

Chery Group’s October numbers landed with a familiar pattern: modest headline growth, but a very different story underneath. The Chinese automaker moved 295,934 vehicles last month, up 5.25% year-on-year, while its new-energy lineup set a fresh record and overseas shipments cleared the 200,000 mark for the third time in 2026.

The export figure is the one that jumps out. 200,618 vehicles left China in October, a 58.67% surge year-on-year — roughly 68% of everything Chery sold that month. Ten months in, overseas volume sits at 1,751,766 units, up 64.8%, which works out to about seven of every ten Chery vehicles finding a buyer abroad.

New Energy Carries the Growth

Battery-electric and plug-in models did the heavy lifting. October NEV sales reached 140,893 units, up 27.7% year-on-year, the seventh straight month above the 100,000 threshold. The year-to-date tally of 999,417 is already ahead of Chery’s full-year NEV total from 2025, and it’s only November.

Overall group sales for January through October came to 2,502,723 vehicles, a 9.34% improvement on the same stretch last year. Barring a collapse in the final two months, Chery should comfortably pass the three-million mark for the first time.

October at a glance: 295,934 total vehicles · 140,893 NEVs (up 27.7%) · 200,618 exports (up 58.67%) · 2,502,723 sold year-to-date (up 9.34%)

Europe Is Where the Money Is Going

Chery’s push west is no longer theoretical. Across 24 European countries, the company shifted 292,000 vehicles in the first three quarters — a 182% jump — including more than 146,000 NEVs, which grew 251%.

The manufacturing map is filling in too. Chery is weighing local assembly in Canada, with sales there pencilled in for 2027, and its iCar sub-brand is preparing a UK launch under the name iCaur, starting with the V27 in early 2027.

The Listed Arm Tells a Slightly Different Story

Hong Kong-listed Chery Auto — a separate reporting entity covering five brands — posted 282,458 units in October, up 7.21% year-on-year, its best month of 2026 and a fifth consecutive month-on-month gain. Its NEVs accounted for 46.74% of the mix at 132,023 units.

But look at the domestic split. Chery Auto sold just 87,784 vehicles inside China, down 38.59% year-on-year, even as exports climbed 61.53% to 194,674. Home demand is clearly the soft spot.

The brand breakdown reinforces that. Only the core Chery brand grew, adding 18.19% to reach 200,571 units. Everything else slipped:

• Jetour: 58,443 units, down 1.07%
• Exeed: 5,637 units, down 40.63%
• iCar: 11,717 units, down 5.45%
• Luxeed: 6,090 units, down 52.46% — its second straight monthly decline

Luxeed, the Huawei-backed premium line, has now sold 49,713 vehicles in ten months, nearly 30% below last year’s pace. That’s the number to watch as Chery tries to move upmarket at home while its volume story plays out overseas.