Chery to announce new product development strategy before Auto Shanghai 2013

Gasgoo.com (Shanghai March 19) - Chery will publicly announce a new product brand development strategy before next month's Shanghai Automobile Industry Exhibition, auto.ifeng.com reported today. The manufacturer will exclusively open a press conference to announce the strategy.

According to Board Chairman Yin Tongyue, Chery will focus on developing a strong single brand. "The road to success for [domestic] manufacturers is creating a [strong] brand," Mr. Yin remarked.

Chery has currently over 20 models available on the market. Due to the manufacturer's large number of models and multi-brand strategy, its sales have been very dispersed. Compared with fellow own brand manufacturer Great Wall, Chery's sales and profits have been relatively low. Furthermore, Chery's financial situation has been the focus of much media attention, with news of the manufacturer having to take loans to finance its Qoros and Jaguar Land Rover joint ventures.

In response, Chery has announced plans to streamline its operations and focus on developing single-brand organization. The manufacturer aims to have cut its current product line up by half in four years, while at the same time increasing sales and profits.