Export volume has increased year by year, with Chery passenger vehicles growing from 26k units exported in 2015 to 700k units in 2024, with exports accounting for nearly 30% of its total sales.

ICEs remain Chery’s main sales type, accounting for more than 80% of its total internal sales. BEVs have been promoted for several years but still cannot bear the main burden. PHEV+EREV has already surpassed BEV.

Chery PV currently has four brands, among which the Chery brand’s share has shrunk to 69%, while Jetour maintains a 22% share, and Exeed and Luxeed (the latter in collaboration with Huawei) together account for 8%. Tiggo 8, Jetour T-1, Exeed M38T, and Luxeed S7 are the main selling models for each brand.

Chery PV sales are currently concentrated in the 100k-200k RMB range, increasing from 46% in 2020 to 63% in 2024. The proportion of 200k-300k models has also increased to 11%. Upward movement in product strength has achieved positive results.

Except for North America, which declined by 27.9%, Chery’s exports to other regions showed significant growth in 2024. Europe and Asia are its main export regions, accounting for 45% and 32% of the share respectively.

Among the top 10 export countries, Russia is Chery’s main export destination, accounting for 36.8% of export share and growing 21% YoY in 2024. Mexico is the only country among the top ten that declined YoY, while Brazil grew by more than 86%, ranking third.

At present, the proportion of NEV sales from ZEEKR and LYNK&CO has reached 77%, while ICE sales (all under LYNK & CO) have decreased from 46% in 2023 to 23% in 2024, and are expected to further decline to 10% in 2025.

Zeekr and Lynk & Co ranked 11th and 16th respectively in 2024’s new energy vehicle sales. After merging, their combined sales reached 390,000 units, placing them 6th overall with a market share of 3.2%.

Lynk & Co’s NEV sales focus on the under-250k RMB segment, while ZEEKR targets above-250k RMB. This complementary positioning helps avoid internal competition and is expected to continue in future product planning.

In 2024, Zeekr and Lynk&Co’s total export volume was 11.7k units, a YoY decline of 48.4%. The Netherlands remained the top export destination, but exports to the country dropped by 57%. Looking at the top five countries, Zeekr and Lynk&Co’s primary export region was Europe.