AutoBeta(AutoBeta.net)09/04 Report--

On September 4, Chery Holdings Group (hereinafter referred to as "Chery Group") released its latest monthly sales report. Data show that in August 2023, Chery Group sold 171300 vehicles, an increase of 20.8 percent over the same period last year, setting a new monthly sales record again, with more than 150000 vehicles sold for two consecutive months. The cumulative sales in the first eight months of this year were 1.0632 million vehicles, up 42 percent from the same period last year. Compared with last year, it achieved one million sales in February ahead of last year. For comparison, Chery sold 1.2327 million vehicles in 2022, with its first sales exceeding 1 million.

According to the official website, the current Chery holding passenger car business section is mainly composed of Chery Automobile, EXEED Star Road, Jetway, Chery Jaguar, Chery Land Rover, Kaiyi and other brands, covering entry-level to luxury-level products. In terms of brand segmentation, Chery is the most important source of sales for Chery Holdings.

Chery sold 123600 cars in August, up 15.5% from a year earlier. The cumulative sales from January to August were 773300, up 36.4% from a year earlier. At present, Chery's products include Ruihu series, Arize series and Oumengda three major product lines, which were the main sales force of Chery in the past, but this situation has changed since 2023.

Take the retail sales of the ride association as an example. In July 2023, Chery sold 35500 cars. Among the subdivided models, Ruihu 8 sold the highest 11346 vehicles, followed by Erize 8 for 6905 and Ruihu 7 for 4799. In other words, Ruihu 7 sales ranking has been replaced by Erize 8, becoming another popular model of Chery. However, Chery Group said in the latest sales figures, August sales of Ruihu 8, Ruihu 7 and Arize 8 were 21369, 19116 and 10325 respectively, which contributed to the growth of Chery Group's sales.

On August 20, Chery brand's new compact SUV "Exploration 06" launched a total of four models with a price range of 116900 yuan to 139900 yuan, with a .6T engine with a maximum power of 145kW and a maximum torque of 290Nm, matching a seven-speed wet double-clutch gearbox. For Chery, "Discovery 06" is a brand-new series that jumps out of the original Ruihu family, and aims at the off-road needs of young people, focusing on "light off-road". After the launch of the car, it will make up for the gap in the model layout of Chery.

Starway Motor sold 12100 vehicles in August, up 118 per cent from a year earlier. The cumulative sales from January to August were 65800, up 130.2 per cent from a year earlier. Xingtuo is a high-end brand of Chery, and it is also Chery's third attempt to enter the high-end market. In November 2018, Chery officially named its new high-end brand EXEED "Xingtu". At that time, Yin Tongyue, party secretary and chairman of Chery holding Group, said: "the shortcut is Chery's Skoda, Chery is Volkswagen, and Xingtu is Chery's Audi." To this end, it also set an ambitious goal: "the Xingtu brand plans to sell 60, 000 vehicles in 2019, and will strive to achieve the sales target of 100000 vehicles." But in the end, it failed to achieve as scheduled.

At a communication meeting in August, Yin Tongyue once again used Chery's "Audi" and Chery's "Porsche" to describe the star path. Not long ago, Xingtu official Xuanxing era ES first set up the Flying Spark Model, Yin Tongyue personally stood on the platform, and once again set a sales target for Xingtuo car. Yin Tongyue said that next year, the combined sales of the two product lines of Xingtu and Xingera in China will be 300000 vehicles, plus about 200000 cars for export, which is conservatively said to be 500000 vehicles. In other words, Yin Tongyue has set a sales target of 500000 cars for next year, and there may be an answer soon as to whether Xingtu can meet its target of selling 500000 vehicles a year.

Jettos sold 28000 vehicles in August, up 47.6% from a year earlier. The cumulative sales from January to August were 161900, up 67.4% from a year earlier. Jetway is the auto product series launched by Chery Holdings Group in January 2018, which 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 the Jetway X90 and the Jetta X70, which were sold 14552 in August, officials said.

Taken together, whether it is Chery, Starway or Jetta, they all achieved good growth in August. After entering 2023, Chery Group began to accelerate the layout of new energy vehicles. In April this year, on the night of 2023 Chery New Energy, Chery Group officially announced the transformation to energy, and launched the first new energy electric brand iCAR, its Xingtu brand new pure electric series Star era and the third generation hybrid technology Kunpeng super performance electric mixer C-DM.

According to the plan, Chery Group will launch more than 20 plug-in new cars in the future. Li Xueyong, deputy general manager of Chery Automobile Co., Ltd., general manager of Chery Automobile Marketing Company and general manager of Jetway Motor, said: there will be more than 20 products equipped with Chery's newly developed Kunpeng super-performance hybrid C-DM system, including Ruihu 9 C-DM, TJ-1 C-DM, Xingtuo Yaoguang C-DM and Jetway Traveler C-DM, which will be on sale from 2023 to 2024.

Overall, Chery sold far more cars (171262) than Geely (152626) in the first eight months of this year, and may further boost Chery's sales with the launch of new cars, including Chery Exploration 06, Chery eQ7 and shortcut travelers.

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