Source: Cover News
Cover News Reporter: Zhang Haijun
As 2024 kicked off, the automotive market swiftly entered a frenzy, with new cars rolling out and prices fluctuating. Brands like BYD, Wuling, Beijing Hyundai, and SAIC-GM Buick introduced multiple new models within a week, joining the battle of the new releases.
Facing intense competition, Chery Automobile, as the third best-selling Chinese brand in 2023, how will it respond? At the "2024 Chery Banquet · Chengdu Station" event held on February 27th, Vice General Manager of Chery Brand Marketing Center, Liu Yongchao, stated that in 2024, the Chery Group's four major brands will collectively launch 40 new cars. The goal is to exceed the industry's sales growth rate by 10-20 percentage points, thus realizing the corporate vision of building a world-class green and intelligent travel technology company.
In terms of different brands, Chery stands out as the top choice for budget-friendly household vehicles. In 2024, they are set to launch 8 upgraded iterations of their gasoline models and 5 entirely new hybrid models, catering to various niche markets. As for the Start Road brand, there will be a comprehensive shift towards new energy vehicles in 2024. Leveraging two world-class platforms—the M3X super hybrid platform and the E0X super comfortable high-performance electric platform—they plan to introduce a product lineup comprising 3 gasoline iterations, 3 C-DM hybrids, 2 pure electric, and 2 extended-range vehicles, with an ambitious annual sales target of 300,000 units.
Jeep, positioned as the world's leading hybrid off-road brand, will continue to advance its product strategy of fuel + hybrid dual-wheel drive. Building on the Jeep Mountain and Sea series, it will launch 7 fuel models and 8 hybrid models, totaling 15 new products in 2024, aiming to make a breakthrough towards an annual sales volume of 500,000 units. As the first new energy electric brand of Chery Group, iCAR will adhere to the mainline of creating popular products, aiming to introduce 2 new models annually and explore differentiated new markets with a range of 100,000 to 300,000 units.
According to the latest news from Chery Group, in 2023, Chery Group achieved "four historic highs" in business performance: the group's annual revenue reached 315.1 billion CNY, a year-on-year increase of over 50.4%, achieving a "great leap" of 100 billion CNY in one year; car sales reached 1,881,316 units, a year-on-year increase of 52.6%, surpassing the industry growth rate by a large margin; the group exported 937,148 cars, a year-on-year increase of 101.1%, ranking first among Chinese brand passenger car exports for 21 consecutive years; in J.D. Power's "2023 China New Vehicle Quality Report," Chery ranked first among domestic brands. In January 2024, Chery Group sold 200,992 units of its own brand cars, a year-on-year increase of 107.5%, marking the fourth consecutive month of monthly sales exceeding 200,000 units and achieving a "strong start" in sales for the new year of 2024.
