Chery Group emphasizes brand differentiation in multi-brand strategy

Chery Holding Group spokesperson Jin Yibo stated on October 31 that the key to managing a multi-brand portfolio is effective differentiation. During a media dialogue, Yibo emphasized that a strategy of operating multiple brands only succeeds if each entity maintains a unique market identity, ensuring that they do not overlap.

Chery currently manages an extensive portfolio ranging from entry-level to luxury vehicles, including brands such as Chery, Exeed, Jetour, and iCAR. The company also collaborates with Huawei on the Luxeed brand, which is currently moving toward securing independent manufacturing qualifications to improve operational autonomy.

Growth figures provided by the company indicate a steady upward trend, with annual sales volume approaching three million units. For the first three quarters of 2024, Chery reported total sales of 2.2 million vehicles, a 9.9% increase year-on-year. Exports remain a significant pillar of this performance, with cumulative overseas sales reaching over 1.5 million units in the same period.