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Re: Chery business news

Local government to support Chery, Jianghuai

November 14, 2008

Shanghai, November 14 (Gasgoo.com) The auto industry of Eastern China's Anhui province, home to Chery Auto and Jianghuai Auto, are suffering from the throes of free fall in vehicle output and sales. In an effort to ease their pain, the province has decided to take active funding and purchasing measures to support the two automakers and boost the province's auto industry, said xinhuanet.com today.

Latest data from Anhui's industry regulator show that in September the vehicle manufacturing in the province fell by 14.6% from one year earlier, and its automakers only made 42,000 vehicles in the month, down by 36.3% year on year. The production and sales of some famous vehicle brands and models in the province have both fallen over the past few months.

The output of Chery Auto began to drop considerably in July and the fall accelerated in September. Jianghuai Auto has seen its production of various chassis decreasing each month since April -- down from 25,715 in April to 13,364 in September.

Meanwhile, the small- and medium-size manufacturers of components for motor vehicles and engineering machinery saw their output values in July decrease by 200 million yuan ($29.3 million) from the previous month, and they had a month-month drop of the same amount again in August.

The sluggish auto sales and falling output have urged the Anhui provincial government to take positive measures to help its automakers weather the crisis. The province will boost its funding and purchasing support for Chery and Jianghuai, whose new cars will be the priority choices for auto buying of the province's local governments at all levels.

http://www.gasgoo.com/auto-news/1008383/Local-government-to-support-Chery-Jianghuai.html
 

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Re: Chery business news

Chery pleased with sales performance

14 Nov 08


Sales of the Chinese Chery passenger vehicle range has averaged 356 units a month since the brand's introduction to the South African market in June, says Chery South Africa MD Brett Soso.

"We are very pleased we have managed these numbers in a declining local passenger car market."

McCarthy executive director in charge of vehicle imports and distribution Jolyon Nash says the vehicle retailer, which distributes the Chery brand in South Africa, anticipated sales of 300 to 350 units a month when the low-cost Chery was launched locally earlier this year, and that exceeding this target in the current tough market conditions is "very pleasing".

Chery will not escape the current market turmoil unscathed, though, adds Nash, as McCarthy "imports Chery in dollars".

He says the company is in the same position as other vehicle importers - even if it imports the brand from China - and that the weakening rand is placing pressure on vehicle pricing.

He says McCarthy is "concerned about the sharply deteriorating rand".

However, Nash believes the Chery, positioned as a low-cost vehicle range, should be able to maintain its price advantage over other vehicles.

Chery will expand its offering to include the seven-seater V5 in the second half of next year, and the J1 minihatch in the first half of next year.

http://www.engineeringnews.co.za/article.php?a_id=146707
 

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Re: Chery business news

Chery Promotes Both Low- and High-end Cars

Tue. November 25, 2008



WUHU, Nov 25, 2008 (SinoCast Daily Business Beat via COMTEX) -- IRLCF | Quote | Chart | News | PowerRating -- Chery Automobile Co., Ltd. is building up a low-end brand Karry for passenger and cargo purposes, as well as a high-end brand for its joint venture project with Quantum under Israel Corporation, signaling a strategy change of the Chinese automaker from single brand to several brands.

Chery General Manager Yin Tongyue confirmed the news after attending the ceremony of signing a cooperative agreement with Thai Chery Yarnyon in mid-November 2008.

On the same day, he explained Chery's expansion strategy in China's second- and third-tier cities as follows: four new car models would be unveiled to customers in 2009 to support the country's boost of domestic demand. They would use new brands and distribution channels.

Meanwhile, Yin Tongyue described the progress of the company's venture project with Quantum by saying that the new high-end brand is likely to be released in next year's Auto Shanghai to be held from April 20 to 28, 2009.

The venture project is operated by Chery Quantum Automobile Co., Ltd., which was founded between the two parties with a registered capital of USD 500 million. It is expected to produce 150,000 vehicles per year upon completion in 2009. According to former information, Chery and Quantum will respectively hold a 55% and 45% stake in the venture.

Currently, the management team for the high-end brand has been formed, and surveys and investigations oriented to market and customers are being carried out. The brand, differing from former brands in design, will use the same platform as theirs.

Actually, Chery has released several new car models in the second half of 2008. On November 18, its M14 sports car and an open limousine specially designed for welcoming Zhai Zhigang, Liu Boming, Jing Haipeng, cosmonauts of Shenzhou VII, China's third manned spacecraft, debuted on the Auto Guangzhou.

The limousine is an upgraded version of Chery Cross Eastar, with improvements in stability, comfort, and interior trims, while M14's designer is Pininfarina's Mr. Catia, whose works include world famous Maserati.

The new sports car can install CheryPower 1.6CBR and 2.0CBR engines, and provides manual transmission and continuously variable transmission (CVT) for the choice of customers. Its shape caters to white-collars' interest in sport and leisure.

Chery's dream is to produce high-quality sports cars that are affordable to Chinese customers. The release of M14 will surely help speed up its pace towards the diversification of its products.


http://www.tradingmarkets.com/.site/news/Stock News/2047668/
 

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Re: Chery business news

China's Eximbank grants loans to support carmaker Chery's expansion

2008-12-07

BEIJING, Dec. 7 (Xinhua) -- The China Export and Import Bank (Eximbank) would grant loans of 10 billion yuan (1.5 billion U.S. dollars) to Chery Automobile to finance its overseas expansion, according to a strategic cooperation agreement signed here on Sunday.

The Anhui Province-based Chery, the largest home-brand carmaker, would use the money to support its global business, such as increasing products export as well as imports of relevant technology and equipment, according to the agreement.

Chery exported 125,000 cars in the first 10 months this year, outnumbering the export volume for the whole last year. The company planned to export 400,000 cars in 2010.

The Eximbank, China's policy bank specially for supporting foreign trade and foreign-related cooperation, has helped many Chinese enterprises with competitive advantages edge into international markets.

http://news.xinhuanet.com/english/2008-12/07/content_10470153.htm
 

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Re: Chery business news

Chery sales down 8.9% on low demand

2008-12-30


Chery Automobile Co, China's biggest domestic automaker, said its car sales stood at 320,000 units in the first 11 months of 2008, down 8.9 percent from a year earlier.

The sales volume means the automaker is unlikely to fulfill its 480,000-unit sales target mapped out at the beginning of the year. It planned to sell 300,000 units at home and 180,000 units abroad.

The drop in sales was contributed to the decreasing demand around the global market triggered by the expanding financial crisis.

Due to the weakening demand, most automakers in the country are not able to complete their sales target for 2008.


http://www.chinadaily.com.cn/bizchina/2008-12/30/content_7353642.htm
 

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Re: Chery business news

China's Chery 2008 car sales drop: paper

Wed Jan 7, 2009

BEIJING (Reuters) - Chinese car maker Chery Automobile sold 356,000 units last year, 25 percent below the target of 480,000 that it set early in 2008, the firm's chairman said in remarks reported on Thursday.

Sales were down 6.5 percent from 381,000 in 2007.

Chery exported 130,000 cars last year, 10 percent more than in 2007, the official China Securities Journal quoted Chairman Yin Tongyue as saying.

Competition in the Chinese automobile market would be extremely fierce this year, Yin said.

"Industry-wide restructuring will accelerate in 2009 and many companies are expected to vanish. Cash flow and orders will become the most cherished resources," the paper quoted him as saying.

However, a slew of positive factors, including lower raw material prices and a stable foreign exchange rate, will help Chinese car makers in selling cars abroad, Yin added.

He said Chery would set up manufacturing plants in countries with fast-growing car markets, but he did not say where.

Chery, best known for its QQ compact car, would introduce 16 new models this year, Yin said.

Chery has nine assembly plants in seven foreign countries, with the tenth plant now being planned.

http://www.forbes.com/afxnewslimited/feeds/afx/2009/01/05/afx5882358.html
http://www.reuters.com/article/GCA-autos/idUSTRE5070IK20090108
 

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Re: Chery business news

Chery Auto to build three sales companies in '09

January 12, 2009

Shanghai, January 12 (Gasgoo.com) According to the blueprint for its 2009 development, Chery Auto will launch 15 new models from three platforms and for them will set up four sales companies, said sina.com today.

Chery Auto will add a mini-vehicle platform and a high-end sedan platform. Then the carmaker will have three platforms to launch 15 new models in 2009. These new models, maybe the greatest number by a Chinese carmaker this year, will be sold by four different sales divisions that Chery will set up this year for its Chery brand, commercial vehicles, mini vehicles and global sales.

The current Chery Auto sales network will be named Chery Sales Company to be responsible for the sales of the Chery brand vehicles. In 2008, Chery Auto sold about 220,000 vehicles in the domestic market, but in 2009, the Chery brand, with three new models to come out, will increase its sales to 260,000 vehicles, and the bottom-line will be 200,000 units.

The second sales company will sell the commercial vehicle brand Weilin and high-end car brand Rich (Ruiqi). The two brands will share a sales network and will roll out a series of new models. The 2009 sales target for the two brands is set at 60,000 units, with 50,000 units as the bottom line.

The third sales company will sell the mini vehicle Kery (Kairui). This division will be lest affected by the financial crisis as its target consumers are scattered across the 2nd-tier and third-tier cities and the rural areas. To rival SAIC-GM-Wuling's Wuling mini vehicles, the Kery brand aims to sell 40,000-50,000 units this year.

In the past six years, Chery Auto has been the top exporter of China-made vehicles, with 135,000 units exported in 2008. Chery will enter the EU, North America and Brazil markets this year and will have 15 overseas plants (with 9 in operation, 6 under construction). Chery aims to export 195,000-225,000 vehicles in 2009.

http://www.gasgoo.com/auto-news/1009034/Chery-Auto-to-build-three-sales-companies-in-09.html
 

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Re: Chery business news

Chery Auto forays into commercial vehicle sector

January 24, 2009

Shanghai, January 24 (Gasgoo.com) A report by China International Marine Containers (Group) Co., Ltd (CIMC), the world's largest shipping container maker said yesterday that it had come to agreement on setting up a truck venture with two domestic partners, one of which involved Chery Auto’s stock-holding companies.

Zhongji Vehicle (Group) Corporation, a subsidiary of the listed group CIMC, had inked sponsors' agreement with Wuhu Tairui Investment Co., Ltd. and Shenzhen Jiusi Investment Co., Ltd. on January 9, 2009 about setting up CIMC Tairui United Truck Co., Ltd. in Wuhu, Anhui province of China.

The venture will have registered capital of 1.2 billion yuan ($175.5 million), with Zhongji Vehicles, Tairui Investment and Jiusi Investment taking up 45%, 45% and 10% stakes in it, respectively.

To prepare for the establishment of the truck company, the three sides agreed to establish CIMC Jirui United Heavy Industry Co., Ltd., also a 45-45-10 venture, with registered capital of 400 million yuan. The venture will take charge of the preparation for the establishment of the truck company. The venture will mostly make medium- and heavy- trucks, CIMC said in a statement.

The Tairui Investment Co, a Wuhu-based company focusing on investment on auto industry, is controlled by three shareholders — Wuhu Construction Investment Co, Wuhu Ruichuang Investment Co., and Wuhu Construction Company of Economic& Technological Development Zone, which are also the shareholders of Chery Automobile Company.

Industry insiders said Chery may fulfill its goal to creep into commercial vehicle sector in this way.

http://www.gasgoo.com/auto-news/1009183/Chery-Auto-forays-into-commercial-vehicle-sector.html
 

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Re: Chery business news

Hi!
Have you any info about Chery and Fiat? In Italy somebody says They will produce engine for Fiat and Alfa Romeno and in next future the Alfa Romeo 159 will be made by Chery.
What about?

--
gilby
 

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Re: Chery business news

Chery's Jan Sales Up 36% Y/Y To 35,000 Units

Shanghai, February 6, 2009: China's automaker Chery Automobile Co reported all-time high monthly sales of 3, 5000 units in January, up 36.14% year on year and 31.5% month on month respectively.
Chery A5 sold 6,000 units. Chery QQ sales hit 15,000 units. A3, Chery's in-house developed model, saw sales reach 3,000 units last month. The A3 hatchback now is even short in supply due to hot selling.

Analysts said that because a slew of policies such as cuts in fuel tax and purchase tax came out, China's auto market began to revive. The economic downturn in 2008 also pushed consumers to turn to low-emission vehicles.

Chery's flagship models are all vehicles with displacement below 1.6L. The average engine size of Chery brand models is at 1.2L. Therefore Chery enjoys double advantages with both the most complete and the lowest-emission vehicles in the industry.

http://www.theautochannel.com/news/2009/02/06/409978.html
 
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