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BIZCHINA / Center |
Chery targets 26% rise in 2008 sales(Xinhua)
Updated: 2008-01-21 11:43 Chinese car maker Chery Automobile is targeting a 26 percent rise in sales this year, faster than the 2007 growth, as it continues to roll out new models and expand overseas. Vehicle sales are forecast to reach a record 480,000 units this year, after rising 24.8 percent year on year to 381,000 units in 2007. The company remained the country's fourth largest automobile seller in 2007, it said. Its subcompact model QQ, known as the "Chinese Beetle", will launch three new models this year. The 11-year-old company, based in the eastern city of Wuhu, Anhui Province, plans to raise its annual output to one million vehicles by 2010. Its exports, which jumped 132 percent to 119,800 units in 2007, were expected to rise to 180,000 this year. The flag-bearer of Chinese indigenous brands has accelerated its expansion overseas in recent years, with its exports topping all other domestic rivals for five consecutive years. The company currently has more than a seven percent share of the domestic market, while it sells cars to 50 countries, including Russia, South America, the Middle East and South Africa. It operates seven plants in six foreign countries, such as Russia, Uruguay, Indonesia and Egypt, and aims to build another 14 overseas plants by 2010. In July, Chery signed a deal with the Chrysler Group that will help the Chinese auto maker sell compact cars under US company's brands in North America and Europe. It has also established ties with Fiat to supply 100,000 engines annually for the Italian giant's cars made in China and abroad.
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