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Under the blessing of the "Golden Nine and Silver Ten" in the peak season of the car market, the sales of many car companies increased strongly in October, such as BYD and Geely Motors all achieved year-on-year growth, of which BYD cars increased by 66.53% to 502700 vehicles; Geely cars increased by 28% to 226700 vehicles year-on-year; Chery Motor is no exception, also achieved year-on-year growth.

Data show that in October 2024, Chery Holdings Group (hereinafter referred to as "Chery Group") sold 272200 vehicles, an increase of 35.9% over the same period last year. Among them, the sales of new energy was 71300, up 342.1% from the same period last year, passing the 70, 000 mark for the first time. As of the end of October, in the first 10 months of this year, Chery Group sold more than 2 million vehicles for the first time in history, an increase of 39.3% over the same period last year.

At present, 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, whose products cover entry-level to luxury-level products. Among them, Chery Automobile is the most important source of sales of Chery Holdings. Figures show that Chery sold 165300 vehicles in October, accounting for 60.73% of Chery's total sales; cumulative sales for the year rose 32.4% year-on-year to 1.2788 million.

As for other brands, the Jetway brand sold 62700 vehicles in October, with a cumulative sales of 439300 vehicles in the first 10 months, an increase of 89.3% over the same period last year; Xingtu brand sold 16600 vehicles in October and 112500 vehicles in the first 10 months, up 17.2% from the same period last year; and the iCAR brand sold 6965 vehicles in October, with cumulative sales of 49800 vehicles for the year. It is understood that the iCAR brand is Chery's first new energy vehicle brand, launched on the eve of the 2023 Shanghai Auto Show, and the first model, iCAR 03, was launched in February this year. According to the plan, the iCAR V23, the second production car of the iCAR brand, will be pre-sold at the Guangzhou Auto Show and officially launched at the end of the year.

In addition, official figures show that Wisdom sold 6897 R7s in October. The Zhijie R7, the second model of the Zhijie brand jointly built by Chery and Huawei, and Hongmeng Zhihang's first sedan SUV model, went on sale on Sept. 24 with a price range of 25.98-339800 yuan. The car is based on the Turing chassis platform, using pure electric drive, equipped with Huawei Hongmeng cockpit and dry smart car ADS 3.0 LTCs with the highest electric range of 802km.

It should be noted that Chery Group's sales growth is also inseparable from the growth of sales in overseas markets. In October, Chery Group exported 111900 vehicles, an increase of 18.8% over the same period last year. As of the end of October, Chery Group's domestic market sales were 1.0837 million vehicles, up 56.3% from the same period last year, while overseas export sales were 941300 vehicles, up 23.8% from the same period last year.

Like most traditional car companies, Chery Group's current sales market is still dominated by fuel cars. in the first 10 months of this year, Chery Group's fuel vehicle market accumulated sales of 1.6218 million vehicles, an increase of 22.7 percent over the same period last year, and new energy vehicles sold 403100 vehicles, an increase of 205.4 percent over the same period last year.

At Chery Technology Day in 2023, Yin Tongyue, party committee 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 as polite as this year." but never rely on losses for sales. " However, from the current sales data, although Chery Group is growing rapidly in the field of new energy vehicles, there is still a large gap compared with the mainstream new energy brands, and the layout of Chery in the field of new energy is still relatively slow. At present, Chery Group still relies more on miniature pure electric vehicles in the field of new energy, and does not have much layout in the middle and high-end fields. with the subsequent investment in the transformation of new energy, it is expected that its sense of existence in the domestic new energy vehicle market will become stronger and stronger.

Yin Tongyue mentioned Chery's future sales target at the launch ceremony of 15 million Chery cars on the 19th of last month, saying that in the future, Chery wants to achieve its quarterly sales target of 1 million vehicles, or even 1 million vehicles a month. It will be among the top 10 car companies in the world at a faster rate.

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