Chery Auto becomes China's No.5 carmaker

Shanghai, March 29 (Gasgoo.com) Chery Auto, whose 2 millionth vehicle rolled of the production line on March 26, has become the fifth largest maker of passenger vehicles in China, People's Daily reported. It is also the country's first home-grown automaker that has produced 2 million cars.

The independent automaker (with no joint venture) rolled out the self-developed Rely X5 SUV as its 2 millionth vehicle. The company also announced the launch of the new model H5 under its sub-brand Rely at an off-line ceremony.

With its accumulative car production hitting the 2 million-unit mark, Chery has become China's fifth largest manufacturer of passenger vehicles, following Shanghai Volkswagen, FAW-Volkswagen, Shanghai GM and Guangzhou Honda, and also China's independent carmaker that has developed and produced 2 million passenger vehicles.

Chery produced its first car on December 18, 1999. Its 1 millionth vehicle rolled off its assembly line in 2007. It took the company more than seven years to produce 1 million vehicles, but only two and a half years to double the output.

"Although the figure of two million does not mark an outstanding milestone in Chery's development course, it is a solid step in Chery's "Long March" to build up a world-famous brand for China's auto industry," said Yin Tongyao, chairman and general manager of Chery.

Chery sold 500,000 cars in 2009 and expects its sales to reach 900,000 units this year by launching 17 new models under its three brands: Chery, Riich and Rely. Its annual capacity will rise to over 1 million vehicles by early 2012, from the current 650,000.