In recent years, the sales volume of the automobile industry, which is the backbone of the national economy, has been declining, and the financial leverage ratio has continued to rise. In order to improve the profitability of automobile manufacturing enterprises, this paper used SPSS 26.0 and Excel 2010, collected the financial data of 145 auto A?share listed companies in Shanghai and Shenzhen from 2017 to 2019 as samples to conduct an empirical analysis and test of the relationship between corporate leverage ratio, corporate growth ability and profitability. The results show that there is a negative correlation between leverage ratio and profitability, positive correlation between corporate growth ability and profitability, negative correlation between corporate leverage ratio and growth ability, and there is a certain intermediary effect in the influence of corporate growth ability on profitability.