Zhejiang CFMOTO Power Co., Ltd.（浙江春风动力股份有限公司）, the Hangzhou-based powersports manufacturer behind the CFMOTO brand, generated CNY 13.79 billion in overseas revenue in 2025, accounting for 69.8% of its total sales. The figure was up 27.6% from a year earlier and more than five times the CNY 2.555 billion the company recorded in overseas sales in 2020.
The shift gives CFMOTO one of the most export-heavy revenue structures among China’s listed vehicle manufacturers. Total revenue rose 31.3% to CNY 19.746 billion in 2025, with North America and Europe its two largest overseas markets. North American revenue reached CNY 6.978 billion, up 53.9% year on year, while European revenue rose 22.2% to CNY 4.895 billion.
All-terrain vehicles remained the company’s largest business. The division generated CNY 9.608 billion in revenue in 2025, up 33.3%, and sold 197,000 vehicles. That is total segment revenue rather than overseas revenue alone, but the business remains heavily export-oriented: CFMOTO said its all-terrain vehicle export value accounted for 74.0% of China’s industry total last year.
Its motorcycle business is also becoming more international. Overseas sales of gasoline-powered motorcycles reached 159,500 units in 2025 and generated CNY 3.587 billion in revenue, up 21.9% from the previous year. The company said it had more than 2,000 motorcycle dealers overseas and had begun rolling out its CFLite brand in Latin America and Asia, targeting more price-sensitive commuter markets.
The company’s growth has come amid a market that is expanding unevenly rather than standing still. CFMOTO cited Motor Cycles Data showing global motorcycle sales of 65.2 million units in 2025, up 4.7% year on year, with India, Latin America and Southeast Asia driving demand. In all-terrain vehicles, North America and Europe account for the overwhelming share of global demand, making distribution, local servicing and product positioning central to competition.
CFMOTO has been building those capabilities through acquisitions, racing and local production. It completed the full acquisition of French all-terrain vehicle brand GOES in early 2024, adding a brand that had more than 1,200 dealers across 17 European Union countries at the end of 2023. The company says the CFMOTO and GOES brands now operate with distinct product positioning in Europe.
In motorcycle racing, CFMOTO entered the Moto3 class of the MotoGP World Championship in 2022. Moto3 is the entry-level class of the championship, rather than its premier MotoGP category, but the programme has given the company a high-profile international platform as it seeks to strengthen recognition beyond China.
The company spent CNY 1.220 billion on research and development in 2025, equivalent to 6.18% of revenue, and employed 1,748 R&D staff. It has also established manufacturing bases in Thailand and Mexico alongside its facilities in China. A company executive said in July that the Mexican plant’s capacity was expected to rise by more than 50% in 2026, while Thailand’s capacity was expected to increase by 50% to 80%; these are company projections, not completed output increases.
CFMOTO has also claimed the No. 1 position in the United Kingdom’s ATV and UTV market, citing Agricultural Engineers Association registration data covering the period from August 2023 to September 2024. The claim applies to that off-road segment, not to the UK motorcycle market as a whole.
The larger story is not simply export volume. CFMOTO is combining sales networks, acquired European brands, product development, racing exposure and overseas manufacturing in an effort to compete in mature markets where after-sales support and dealer confidence matter as much as price. Its challenge will be to turn that international revenue base into durable brand power while managing tariffs, local operating costs and the cyclicality of discretionary powersports demand.