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1.881 million! Annual sales of Chery announced

2024-04-22 Update From: AutoBeta NAV: AutoBeta > News >


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On January 2, Chery Holdings Group (hereinafter referred to as "Chery Group") released its annual sales figures. According to the data, the cumulative sales of Chery Group in 2023 was 1.8813 million vehicles, an increase of 52.6% over the same period last year, realizing a "12-game rise" in sales. For comparison, Chery sold 1.234 million vehicles in 2022.

Chery Holdings was founded in 2010, with automotive, shipbuilding, finance, tourism and other business sectors, so far, Chery holding passenger car business plate is mainly composed of Chery Automobile, EXEED Star, Jettos, Chery Jaguar, Chery Land Rover, Kaiyi and other brands, its products cover entry-level to luxury products, of which Chery Automobile is the most important source of sales.

According to the data, Chery sold 1.3413 million vehicles in 2023, up 47.6% from a year earlier. As we all know, 2005 was the highlight of Chery, when Chery sold more than 300000 vehicles for the first time, becoming a "handle" in China's auto industry, and set up imported and high-end car business units in the same year. Until 2010, Chery successively launched models including Ruihu 3, Ruihu 5 and Ruihu 7. Since then, the product matrix has been gradually improved and sales have increased significantly.

Up to now, Chery Automobile's products include Ruihu series, Erize series and Oumengda three major product series, model positioning covers small SUV, compact SUV, medium-sized SUV. It is worth mentioning that in the past, the Ruihu series was the main sales force of Chery, but this situation has changed since 2023. Take the retail sales of Carriage Association as an example. From January to November 2023, Chery sold a cumulative total of 345100 vehicles. Among them, the top three models are Ruihu 8, Ai Ruize 8 and Ruihu 7, with sales of 11.03, 67300 and 47000 respectively, that is to say, Ruihu 7 has been replaced by Irize 8, which has become another popular model under Chery.

Xingtu brand sold 125500 vehicles in 2023, an increase of 134.9% over the same period last year. As a high-end brand of Chery, Star Motor is Chery's third attempt to enter the high-end market. At that time, Yin Tongyue, party committee secretary and chairman of Chery holding Group, said: "the shortcut is Chery's Skoda, Chery is Volkswagen, and Xingtu is Chery's Audi." In August 2023, Yin Tongyue once again used Chery's "Audi" and Chery's "Porsche" to describe Starway, and personally set a sales target for Starway once again. Yin Tongyue said that this year, the combined sales of the two product lines of Xingtu and Xing Epoch are 300000 vehicles, plus exports are about 200000 vehicles, which is conservatively said to be 500000 vehicles.

On the occasion of the listing of the Xingtuxing era on December 20, 2023, Yin Tongyue said bluntly at the press conference: "to make Xingtu become Chery's' BBA','to become the 'spire' of the Chery Group brand pyramid." According to Yin Tongyue, Xingtu aims to sell 500000 cars this year. However, judging from the sales performance in 2023, it is difficult for Starway to achieve its annual sales target of 500000 vehicles this year.

The Jetway brand sold 315200 vehicles in 2023, up 75 per cent from a year earlier. Jetway Motor is a series of automobile products launched by Chery Holdings Group in January 2018. It once belonged to Kairui Automobile. At the beginning of its launch, it adopted the model strategy of high configuration and low price, and quickly relied on the Chery channel end for layout. At present, it has a series of products such as X90, X70 and so on.

As for export sales, Chery Group's total export sales for the whole year of 2023 was 937100 vehicles, an increase of 101.1% over the same period last year. Officials said that by the end of 2023, Chery Group had a cumulative total of 3.35 million overseas users.

At present, Chery is gradually expanding its overseas scale. According to media reports, Chery's UK head said the company plans to enter the UK market this year and build a local plant by 2030, when it will compete with South Korean carmaker Hyundai Kia Group for market share. In addition, Chery is considering building two plants in Europe, of which Chery is considering setting up a separate plant in the UK to produce right-rudder models for the UK and the smaller Irish market, while another plant will serve the rest of continental Europe and is responsible for producing left-rudder models.

Taken together, Chery cars, Starway cars, shortcut cars and exports all achieved good growth in 2023. Looking back on 2023, Chery Group brands launched a number of new cars, including Star era ES, Smart S7, iCAR 03, Shanhai L9, Fengyun A8 and so on. As new energy vehicles have gradually become the main battlefield of the automobile market, Chery Group has also begun to accelerate the layout of new energy vehicles.

On Chery Science and Technology Day in 2023, Yin Tongyue, party committee secretary and chairman of Chery holding Group, rarely put down cruel words to attract the attention of the industry. Yin Tongyue said bluntly: "in the new energy sector, Chery is up early in the morning to catch up with the evening collection, and is confident that it will rush to the head next year. It will not be as polite as this year, but it will never rely on losses for sales." In order to speed up the layout of the new energy track, Chery also announced that it will invest 20 billion yuan a year in R & D in the field of electric intelligence, with R & D investment of not less than 100 billion yuan in the next five years, and plans to increase investment in the field of new energy in 2024.

However, compared with the leading new energy car companies such as BYD, Chery's layout in the new energy field is relatively slow. Prior to this, Li Xueyong, deputy general manager of Chery Automobile Co., Ltd., said in an interview with the media that this year's growth of Chery Group, both domestic and international, will focus on hybrid track and pure electric track. The goal is that the sales volume of hybrid plus pure electricity should not be less than 1max / 3 of the group's sales. " In other words, this year will be a key year for Chery's new energy products to land, and of course, in today's highly competitive new energy car market, Chery's goal of taking the lead in the domestic new energy sector next year is difficult to say "easy".

With regard to the development of cars in the new year, Yin Tongyue, party committee secretary and chairman of Chery holding Group, said in his New year's speech: "in 2024, Chery Group will speed up the comprehensive new energy, intelligence, and continue to enrich the new energy product matrix. In the next two years, we plan to launch 24 super hybrid and 15 high-end pure electric products to quickly enter the first camp of China's new energy vehicles." As for whether Chery Group can enter the first camp of new energy vehicles in China in the future, we can wait and see.

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