Chery boss says around 90 per cent of Chinese automakers lose money
Chery International president Zhang Guibing estimates that around 90 per cent of Chinese automakers are losing money. Speaking to Australian media, he warned that rising development costs will force more companies out of business. Consultancy AlixPartners says only three of 30 Chinese makers focused on new-energy vehicles were profitable in 2025. Chery Automobile still reported a net profit of 9.02 billion yuan for the first half of 2026, down 9 per cent. Its research and development spending rose 28.3 per cent over the same period.