How Changan Automobile Makes Money

Changan makes money by building and selling vehicles, and it does this in two ways. The first and largest is its own brands: mass-market Changan petrol and hybrid cars (CS-series SUVs, UNI-series crossovers), the Deepal and Avatr electric brands, Changan Qiyuan family NEVs, and Kaicene light commercial vehicles. These sales show up directly in Changan's consolidated revenue. The second is its 50:50 joint ventures, Changan Ford and Changan Mazda. Changan accounts for its share of their profits as investment income instead of revenue. Other income comes from engines and components, auto finance, and a fast-growing export business. In 2025, overseas markets took 637,000 vehicles, or about 22% of total sales. Avatr is a majority-controlled subsidiary that uses CATL batteries and Huawei's driver-assistance and cockpit technology. Average revenue per vehicle at the listed company was about CN¥53,400 in 2025, which shows how much of Changan's volume comes from affordable cars.

Changan's growth plan rests on two levers that are both meant to double by 2030: NEVs and exports. On NEVs, it runs three brands. Deepal sells mass-market BEV and range-extended models, Avatr sells premium smart EVs, and Qiyuan sells family cars. These are supported by the in-house SDA architecture and Blue Core hybrids. On exports, it now sells in 118 countries and regions through 1,124 outlets. It passed 100,000 overseas sales in a single month for the first time in March 2026, and it builds right-hand-drive NEVs at its Rayong plant in Thailand. The Middle East and Africa are a priority region in its 2030 global plan.