AutoBeta(AutoBeta.net)11/03 Report--

On November 3, Chery Holding Group (hereinafter referred to as "Chery Group") released the latest sales volume. According to the data, in October 2023, the sales volume of Chery Group was 200,300 vehicles, with a year-on-year growth of 50.8%, which was the sales volume of more than 150,000 vehicles for four consecutive months in the year and the first monthly sales volume of more than 200,000 vehicles in the year; from January to October 2023, the cumulative sales volume of Chery Group was 1,453,600 vehicles, with a year-on-year growth of 41.6%. By contrast, Chery Group's annual cumulative sales volume in 2022 was 1.234 million vehicles.

In terms of brand segmentation, the sales volume of Chery Automobile in October was 140,400 vehicles, with a year-on-year growth of 50.3%; the cumulative sales volume from January to October was 1,049,700 vehicles, with a year-on-year growth of 35.8%, which is also the first time that Chery Automobile sold more than one million vehicles in the year. As we all know, 2005 was the highlight of Chery Automobile. At that time, Chery Automobile sold more than 300,000 vehicles for the first time, becoming a "carrying handle" in China's automobile manufacturing industry. In the same year, it also established the business plate of imported cars and high-end cars. Until 2010, Chery Automobile successively launched models including Ruihu 3, Ruihu 5 and Ruihu 7, etc. Since then, the product matrix has gradually improved.

Up to now, the products of Foreign Products Automobile include Ruihu series, Arize series and Oumengda three product series, covering small SUV, compact SUV and medium-sized SUV. According to the data, Ruihu 8, Ruihu 7, Jietu X70, Arize 8, Ruihu 5x and Ou Mengda became the main sales force of Chery Group with sales achievements of 22987 vehicles, 26224 vehicles, 15279 vehicles, 14065 vehicles, 12448 vehicles and 11459 vehicles respectively in October.

The sales volume of Xingtu Automobile in October was 14,800 vehicles, with a year-on-year growth of 127.9%; the cumulative sales volume from January to October was 94,900 vehicles, with a year-on-year growth of 121.1%. Not long ago, Yin Tongyue, chairman of Chery Holding Group, set a sales target of 500,000 vehicles for Xingtu Automobile next year. Yin Tongyue said that next year, the sales volume of domestic Xingtu and Xingji product lines will add up to 300,000 vehicles, plus exports of about 200,000 vehicles, which should be 500,000 vehicles conservatively.

The sales volume of Jetu brand in October was 38,100 vehicles, with a year-on-year growth of 51.2%; the cumulative sales volume from January to October was 232,100 vehicles, with a year-on-year growth of 64.7%. Up to now, the products on sale of Jetu Automobile include Jetu X90, Jetu X70 and other product series. On September 26, Jietu brand-new SUV Traveler went on the market. The new car launched 6 models in total, with the price range of 1399 - 184,900 yuan. According to officials, Jetway Traveler has ordered more than 35,000 vehicles. Based on the positioning and price of the new car, the new car may become another explosive model after the Jetu X70.

On the whole, whether Chery Automobile, Xingtu Automobile or Jietu Automobile, October achieved a good increase. However, compared with BYD and other head new energy automobile enterprises, Chery's layout in the field of new energy is relatively slow. At present, Chery brand and Xingtu brand have not launched brand-new pure electric car type so far.

On Chery Science and Technology Day in 2023, Yin Tongyue Yin Tongyue rarely put down harsh words to arouse industry attention. Yin Tongyue bluntly said: "In the new energy plate, Chery is up early catch up with the late set, confident next year to rush to the head, not as polite as this year, but never rely on losses for sales."

According to the plan, Chery Group will release 5 super hybrid 3.0 and 4 E0X high-end electric products in the fourth quarter of this year, and plan to expand to 24 super hybrid 3.0 and 15 E0X high-end electric new products within 2 years, including Chery Fengyun A8, Fengyun T9, Star Era ES, Xingtu Yaoguang C-DM, Jietu Traveler C-DM, iCAR 03, etc. The launch of a number of new cars may further boost the sales volume of Chery Group. In order to accelerate the layout of new energy tracks, Chery also announced that it will invest 20 billion yuan annually in R & D in the field of electric intelligence, with an investment of no less than 100 billion yuan in R & D in the next five years.

Judging from the time rhythm of Chery Group's product release, Chery's new energy products are mostly concentrated in 2024, but as far as the current competitive new energy vehicle market is concerned, Chery wants to occupy the head position in the domestic new energy field next year.

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