AutoBeta(AutoBeta.net)03/03 Report--

On March 2, Chery Holdings Group (hereinafter referred to as "Chery Group") released the latest monthly sales figures. According to the data, Chery Group sold 143155 vehicles in February 2024, an increase of 37.8% over the same period last year. The cumulative sales volume from January to February was 348019, up 69.5% from a year earlier.

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 97562 cars in February, up 41 per cent from a year earlier. 232692 vehicles were sold from January to February, up 67.1 per cent from a year earlier. Up to now, Chery's products include Ruihu series, iRize series and Oumengda three major product series, whose positioning covers small SUV, compact SUV and medium-sized SUV, among which Ruihu series and iRize series are the main sales of Chery Automobile. Retail sales show that in January 2024, the top three models sold by Chery were Ruihu 8, Arize 8 and Ruihu 9, with sales of 21097, 15083 and 7112 respectively.

Xingtu brand sold 7910 vehicles in February, up 56.4% from January to February, up 71.7% from January to February. As a high-end brand of Chery, Star Motor is Chery's third attempt to enter the high-end market. 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. However, judging from the sales performance in 2023, it is difficult for Starway to achieve its annual sales target of 500000 vehicles this year. As a reference, the cumulative sales of Xingtu brand in 2023 was 125500 vehicles, an increase of 134.9% over the same period last year.

The Jetway brand sold 29017 vehicles in February, up 76.6% from a year earlier. Tantra sold 71973 vehicles in January-February, up 121.9% 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.

According to the official website, so far, Jettos' models on sale include Jettos, X90 Zilong, X90 PLUS, X90, the new X70S, X70 Zhuge, X70 PLUS, X70, X70M, X70 Coupe, X70S, X95 Chieftain Edition, X95 Supreme Edition, X70S-EV and Jetty Travelers. Among them, the shortcut traveler, the shortcut X70 and the shortcut great saint are the volume models of the shortcut car. Retail sales in January were 10959, 9746 and 4475, respectively.

Taken together, Chery, Starway and Jetta all achieved a good increase in February this year. It is worth mentioning that since entering 2024, Chery Group has launched a number of new cars, among which, on February 22nd, the Jetway X90 PRO launched a total of five models, with a pre-price range of 12.99-171900 yuan, which is expected to go on sale in March. The new car is positioned as a medium-sized SUV with the latest family design style inside and outside, with 1.6T and 2.0T engines on the power. on February 26th, the Xingtuo Yaoguang C-DM opened for pre-sale with a pre-price range of 17.28-222800 yuan, which is expected to go on sale in March. The new car positioning medium-sized SUV, based on Xingtu M3X superhybrid platform, is equipped with a hybrid system composed of 1.5TGDI hybrid engine and motor, pure electric range 160km, comprehensive range exceeding 1343km, and will compete with Song PLUS and Geely Galaxy L7 after listing; on February 29th, Jettos X70 C-DM will be launched with a price range of 14.99-167900. The new car is located in medium-sized SUV, the power is equipped with a 1.5T engine + motor plug-in system, CLTC pure electric life 110km, comprehensive range can reach 1200km.

In terms of new energy models, iCAR 03, the first product of Chery's first new energy vehicle brand iCAR, was officially launched on February 28th, with a total of six models with a price range of 10.98-169800 yuan. ICAR 03 positioning hard pure electric SUV, based on i-MS multi-Rubik's cube new energy architecture, power to provide a single / a double motor version of the model choice, of which the single motor version of the maximum power of 135kW (184hp), dual-motor four-wheel drive version of the maximum power of 205kW (279hp).

Earlier, on the 2023 Chery Technology Day, Yin Tongyue, party secretary and chairman of Chery holding Group, said: "in the new energy sector, Chery got up early in the morning and caught up with the evening collection. It is confident that it will rush to the head next year and will not be so polite as this year." but never rely on losses for sales. " So far, Chery's Chery, Xingtuo and Jettos brands have all completed the layout of new energy. Among them, the iCAR mentioned above, released on the eve of the 2023 Shanghai Auto Show, is Chery's first new energy vehicle brand. At that time, the auto show released iCAR GT (concept car) and iCAR 03 models, which are mainly priced in the 150000 yuan price range. Official figures show that 16728 iCAR 03 vehicles have been ordered during the pre-sale period. As for the future performance of iCAR 03, it will take more time and market verification to know.

On March 1, Chery Group released the "10 billion subsidy replacement season", which covers models of its four brands, including Chery, Xingtuo, Jetway and iCAR, with subsidies of up to 40, 000 yuan. In addition, some models also offer time-limited discounts, with a maximum comprehensive discount of 19000 yuan. Against the background of fierce competition among car companies in 2024, it remains to be seen whether Chery can reach an all-time high.

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