AutoBeta(AutoBeta.net)05/03 Report--

On May 2, Chery Holdings Group (hereinafter referred to as "Chery Group") released the latest monthly sales figures. According to the data, Chery Group sold 182049 vehicles in April 2024, up 43.7% from a year earlier, with cumulative sales of 711653 vehicles from January to April, up 55.7% 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 117726 vehicles in April, accounting for 35.33% of the total sales. the cumulative sales from January to April were 482947, up 57.5% from a year earlier.

The Xingtu brand sold 8235 vehicles in April. Star Road brand is a high-end brand of Chery. In November 2018, Chery officially released the Chinese name of the high-end brand EXEED-Xingdu, which is also Chery's third attempt to enter the high-end market. In August 2023, Yin Tongyue, chairman of Chery holding Group, once again used the positioning of Chery's "Audi" and Chery's "Porsche" to describe Starway, and personally set a sales target for Xingtuo once again. Yin Tongyue said that the Xingtu brand will achieve annual sales of at least 500000 vehicles in 2024, of which the two product lines of domestic Xingtu and Xingera have combined sales of 300000 vehicles, plus exports of about 200000 vehicles. From January to April this year, the cumulative sales of Xingtu brand was 31728 vehicles, an increase of 28% over the same period last year, and the completion rate in the first four months was only 6.35%. According to this development trend, Xingtu brand has a great challenge to achieve its annual target of 500000 vehicles.

The Jetway brand sold 37248 vehicles in April; cumulative sales from January to April were 144724, up 104 per cent from a year earlier. As a brand established in the same year as Xingtu brand, the performance of Jetway brand in the car market is more eye-catching. The "Travel +" brand is positioned as a "Travel +" brand, with more mid-and low-end models as a whole. Currently, the models on sale include Jetto Dasheng, X90 Zilong, X90 PLUS, X90, X70 PLUS, X70 Zhuge, X70 PLUS, X70, X70M, X70 Coupe, X70S, X95 Chieftain Edition, X95 Supreme Edition, X70S-EV and Jetty Travelers. Among them, the shortcut X70, the shortcut traveler and the shortcut X90 are the volume models of the shortcut car. Retail sales in the first quarter were 25617, 25152 and 10247, respectively.

In terms of new energy, Chery has built Chery, Xingtuo, Jetway and iCAR to accelerate the transformation to new energy, but unfortunately, Chery is "getting up early and catching up in the evening" in the transformation of new energy. According to the data, Chery Group sold 32995 new energy vehicles in April, up 165.2% from January to April, up 137.3% from January to April. Although the overall growth rate is rapid, there is a big gap between Chery and the current mainstream new energy brands. Chery's pace of catching up in the field of new energy needs to be accelerated.

Among the sub-brands, iCAR 03, the first product of the iCAR brand, sold 13011 vehicles in February, of which 7524 in April. ICAR is Chery's first new energy car brand, mainly for the price range of 150000 yuan. The first product, iCAR 03, was launched on February 28th. The new car launched a total of six models with a price range of 10.98 yuan to 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).

At the Beijing Auto Show, Chery Fengyun T9 and Xingtuxing era ET opened for pre-sale; JettoShanhai T2 was officially launched; iCAR V23, X25 and iCAR 03T, Fengyun mass production concept car E06, Xingtuo E08 concept car have completed their world debut or debut. In addition, the Xingtuxing era ET will be launched in the Xintu Star era ET, which is Chery's first pure electric, extended-range dual-power product. It remains to be seen whether the launch of more new cars will surprise Chery Holdings in terms of sales.

In addition, in addition to the layout of the domestic market, Chery is still expanding its overseas scale. According to the data, Chery Group exported 89377 vehicles in April, an increase of 18.3% over the same period last year, accounting for 50.90% of total sales. Ting exported 342795 vehicles from January to April, an increase of 34.2% over the same period last year. From the data, it is not difficult to see the importance of overseas markets to Chery, which has become China's third largest carmaker and largest passenger car exporter.

Or in order to boost sales, on April 30, Chery announced that from April 27 to May 31, Chery launched a "10 billion Hui people replacement season, factory price direct sales limited time grab" activity, with no restrictions on the condition, mileage and years of old cars, up to 50,000 yuan. It is understood that the event covers Chery Fengyun, Ruihu, Erize, explore four major product series of a number of blockbuster models, including Fengyun A8, Ruihu 9, Ruihu 8 PRO championship version, iRuize 8 high-energy version, Discovery 06 and other popular models. During the event, the replacement of Fengyun A8 can enjoy a national subsidy of 10, 000 yuan, old cars up to 30, 000 yuan, and comprehensive subsidies up to 40, 000 yuan; replacement of Ruihu 8 championship version of four-wheel drive models, old cars can be up to 43000 yuan, plus state subsidies of 7000 yuan, the comprehensive subsidy can be up to 50, 000 yuan Arize 8 high-energy version of used cars up to 20, 000 yuan, plus state subsidies of 7000 yuan, comprehensive subsidies up to 27000 yuan; exploration 06 replacement comprehensive subsidies of 37000 yuan.

At a previous symposium on the high-quality development of the automobile industry held by the Ministry of Industry and Information Technology, Yin Tongyue, chairman of Chery holding Group, said that Chery holding Group aims to exceed the sales growth rate of the industry by 10-20% in 2024. At the 2023 Chery Technology DAY scene before this, Yin Tongyue said in a high profile: "next year we are very confident that we will not be as polite as this year in the ranking of the new energy industry, and we will certainly enter the national head position." It should be noted that the car market competition is very fierce this year, Yin Tongyue can achieve this goal as scheduled, we wait for follow-up news.

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