Chinese Automaker Chery Sees Soaring Sales in 2024
Global Expansion Drives Growth
Chery, a state-owned Chinese automaker based in Wuhu, has reported a remarkable 38.4% increase in global car sales for 2024, reaching an impressive 2.6 million vehicles. This significant jump is expected to propel Chery up the ranks of global automakers, with many still to report their full-year sales.
Revenue Soars to $65.52 Billion
The company’s revenue saw a substantial 45% increase, reaching 480 billion yuan ($65.52 billion). This growth can be attributed to Chery’s continued dominance as China’s top car exporter, with 1.14 million vehicles shipped to foreign markets.
Rivals Geely and BYD Set Ambitious Targets
Chery’s rivals, Geely and BYD, have set ambitious targets for the future. Geely expects to sell 5 million units by 2027, while BYD is on track to sell over 4 million cars in 2024, potentially surpassing Ford and Honda in sales.
European Expansion Underway
Chery is expanding its presence in Europe, introducing new car models under its Omoda and Jaecoo brands. The company will also start producing cars with a joint venture partner in Spain this year, further solidifying its global footprint.
A Bright Future Ahead
With its sights set on surpassing 3 million sales this year, Chery is poised for continued growth and success. As the company continues to expand its global reach, it’s clear that Chery is a force to be reckoned with in the automotive industry.
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