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11 Jul2018
Chery Holding's semiannual report: Exports up 20%, new energy vehicle sales up 250% Chery Holding has released its sales report for the first half of 2018. In June, its monthly sales soared by 15 percent. On this basis, it achieved cumulative sales of 343,000 units in the first half, up 8.8 percent year on year; exported 67,459 units, up 24.2 percent year on year; and sold 33,363 new energy vehicles, up 258.7 percent year on year.

In the context of the micro growth of the auto market and the gradual intensification of market competition, many automakers suffered from a plunge in year-on-year or month-on-month sales growth, and few maintained a growth rate of over 10 percent. Chery was one of the few whose sales grew steadily. Particularly, Chery Holding's month sales soared by double digits in April, May and June, up 17.5 percent, 26.6 percent and 15 percent year on year respectively. It achieved record monthly exports in May, up 48.6 percent year on year. Its monthly new energy vehicle sales were up 188.63 percent, 183 percent and 136.8 percent year on year respectively, and its cumulative new energy vehicle sales in the first half of 2018 soared by 250 percent year on year.

Almost all auto brands of Chery Holding maintained rapid growth: Chery's sales were up 4.5 percent year on year in the first half of 2018 and were up 8.6 percent year on year in June; the sales of Qoros and Jaguar Land Rover were up 417.6 percent and 17.8 percent year on year respectively in the first half; Chery Commercial Vehicle's sales were up 19.7 percent year on year; Wanda bus sales, special vehicle sales and heavy-duty truck sales were up 43 percent, 245.3 percent and 24.3 percent year on year respectively.

A Chery car in a Russian street

After years of development, Chery has established a forward development system, developed products based on customer needs, and improved product design and quality, to deliver outstanding and desired products. Chery's product quality has reached a new height. The IPTV value (20) of Chery's new-generation mainstream products within 3 months is superior to the average IPTV value (30) of mainstream JV brands; Chery's IQS value is 109, close to the level (100) of joint ventures. Chery's capacity for platform and modular development has improved constantly: the development period of a new vehicle has reduced from 42 months to 20 months and is expected to be less than 13 months next year. Chery's innovation capacity has been improved constantly: Chery has so far applied for 16,262 patents and obtained 10,464 patents.

While constantly achieving breakthrough in traditional core technologies, Chery has taken the lead in deploying operations and developed advantage in the fields of intelligent connection and new energy. At Auto China 2018, Chery launched an intelligent brand-"Chery Lion". Chery has completed the R&D of first-generation and second-generation driverless products, and is expected to accomplish L3 conditional automatic driving by 2020, L4 highly automatic driving by 2020 and L5 full automatic driving by 2026. With new energy passenger vehicles of Chery Automobile Co., Ltd., new energy logistics vehicles and new energy buses, as well as special new energy vehicles developed by the joint venture of Chery and REV, Chery Group has launched new energy operations in an all-out way. 

Chery Arrizo 5 self-driving car appears at CES 2018

Chery, which has been China's largest passenger vehicle exporter for 15 consecutive years and so far exported some 1.4 million units, has remained dominant and achieved further breakthrough this year. Delightedly, while speeding up the export of passenger vehicles, Chery Holding has gradually opened the overseas commercial vehicle market. Chery Holding exported 7,512 units in the first half of 2018, up 591.1 percent year on year, and is expected to export over 120,000 units throughout the year.

With automotive value chain as core, Chery Holding has developed into a holding group with business sectors including automobile, automotive parts, finance, shipping, property and trade. In 2017, it moved into the "100-billion" club with sales of 102.1 billion yuan. In the future, it will continue to extend its operations to high value-added business including automotive aftermarket, automotive financial leasing and insurance, cyclic economy, mobility, military automotive equipment and UAV engine, to build an "automotive industry ecosphere" and become a respected world-class business group.