China Chery Aspires to Gain another Five Million Units in Shorter Period

Gasgoo.com (Shanghai Dec 24) Arrizo 5 of China Chery formally rolled off the production line on December 18 and will be brought to market in March, 2016.

When the launch of Arrizo 5 completed, there have been five million units of complete vehicles developed by Cherry.

"It will take Chery less than five years to launch another five million units," said Yin Tongyue, CEO of Chery.

Chery began its transition in 2010 with the comprehensive adjustment of its domestic brands in China.

Following the sales of three million units in 2011, Chery had only got slim sales of two million units over the past four years.

At the same time, the market shares of its domestic brands had plummeted since 2012, and that of passenger vehicles even had dropped below 40% by 2014.

Only by 2015, does the market of domestic brands in China begin to revive, owing to the rapid growth of SUVs.

Official data show that the sales of Chery reached 475,000 units with a yearly rise of 12.5% in the first 11 months of 2015 more than the annual sales of 2014

Among them, the sales of domestic brands in China stood at 454,000 units, increasing by 7.5% from a year earlier.

Yin Tongyue, however, is unsatisfied with the performance of Chery. He pointed out that Chery would emphasize the development of one specific model and promote its profitability in order to accelerate development of Cherty on the whole.

In the next five years, Chery will build three major product platforms to launch ten new models, aiming to gain single production of 500,000 units on one platform and sales of 100,000 units of one model.