Chery Shifts Focus to Brand Building After Selling 20 Million Vehicles

Chery Group has reached a significant milestone, selling a cumulative total of 20 million vehicles worldwide. The company marked the occasion with the global launch and delivery of its new Fengyun A9 model as the 20 millionth vehicle.

Chery Chairman Yin Tongyue stated that the company is moving away from intense market competition and a singular focus on sales figures. "After 20 million vehicles, we will no longer participate in involution and solely pursue sales. Instead, we will pursue brand upward mobility, greater value creation, more technological breakthroughs, and a greater improvement in customer satisfaction," Yin Tongyue said.

The automotive industry faces challenges this year, and Chery has consciously reduced its domestic vehicle dispatches by approximately 150,000 units. This action was aimed at reducing dealer inventory and improving the company's operational health. Chery aims for a stronger performance in the latter half of the year.

New products, such as the recently released Fengyun A9, are expected to drive this performance increase. The company indicated that more performance-boosting products are planned for late 2024 and 2025. Chery has also seen substantial growth in its export business, setting new monthly export records for Chinese automakers multiple times recently.