Chery's exports accounted for 70.3%! August car companies report card: Exports are the real winner

Let's first look at a set of hard data:

On September 1, car companies 'August report cards were released. There are five top companies, and all exports are red:

Chery: Exports 197,000 vehicles in a single month,+52.1% year-on-year, accounting for 70.3% of total sales

BYD: Exports 189,000 vehicles in a single month, accounting for 42.9% of exports

SAIC: Exports 139,500 vehicles in a single month,+55.7% year-on-year

Geely: Exports of 110,000 vehicles per month surged 205% year-on-year

Great Wall: Exports 62,500 vehicles in a single month, accounting for 55.1% of exports

BYD, which ranks first in domestic sales, accounts for nearly half of its exports; the one with the lowest export proportion also accounts for more than 40%.

Bottom line: The winner and winner of China's auto industry is no longer at home.

1. Going to sea has changed from bonus points to mandatory questions

Before 2026, the proportion of exports will be an ornament in car companies 'financial reports-it is about the second growth curve and brand premium.

In the report card in August 2026, it has become a survival line: exports from leading car companies account for 40% of the entire line.

Pay attention to the last two columns: Chery, which accounts for 70% of exports, and Great Wall, which accounts for 55%. Domestic plates are no longer the main battlefield.& nbsp; In the domestic market, retail sales were still declining year-on-year in July, and the price war was raging into rivers of blood. The cold inside and the hot outside have changed from the industry narrative to the balance sheet structure of each car company.

Going to sea is no longer a question of whether to do it, but a question of whether to do it quickly enough.

2. For small and medium-sized exporters: Big factories eat meat, but there are still gaps

The stronger the head, the more hopeless it is for small and medium-sized players? Not necessarily. See clearly which piece of cake the big factory eats: the head eats brand + channel + localized production capacity-this is an asset-heavy game;

The gap left is market segmentation and flexible services: right-hand steering vehicles, special vehicles, regional compliance agency, after-sales parts supply chain, and the entire process of vehicle source-certification-delivery for used car exports.

3. Three sober judgments

Judgment 1: Official data for August will be released around September 10, and it is expected that the defense will fall back after full play. Official exports in July were 1.043 million vehicles, a year-on-year increase of 81.3%, and market expectations were already full. If the August data falls month-on-month (Brazil's rush for shipments and Mexico's inventories clear), mood fluctuations are inevitable. Don't be kidnapped by monthly data, look at trends, not news headlines.

Judgment 2: A high proportion of exports does not mean high profits. While export volume has soared, shipping costs, overseas warehouse rents, and target country tariffs (annual increase in Russian scrapping taxes, launch of EU interdiction and countervailing investigations, and Ghana PVoC inspection fees) are all rising. The winner in 2026 is not the export volume, but the gross profit of a single unit.  Whoever can extract profits from compliance costs will laugh for a long time.

Judgment 3: Exports have entered the critical point of the stock game from incremental dividends. Autostat predicts that new car sales in Russia in 2026 will remain the same as last year-the largest market is bidding farewell to high growth. When the export proportion of leading car companies generally accounts for 40%+, the intensity of competition within overseas markets is copying the domestic price war script. nbsp; What we are fighting for now is the precipitation of channel density, after-sales capabilities and compliance systems-the tide is turning, and naked swimmers will soon emerge.

conclusion

The August report card proved one thing: the sailing of China car companies has changed from an optional option to a main option, and from an incremental story to a survival structure.

For practitioners, this means two things: first, stop asking if you want to go out to sea-your competitors have already put half of their production capacity overseas; second, the way to go out to sea has changed-the era of self-defeating people is retiring, and players who fight systematically are taking over the table.

Source: Xiong Yu, digital automobile export

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