Developing markets drive up Chery sales
Print Edition
Chinese automaker Chery exported 50,130 cars in the first half of this year, accounting for more than a quarter of all exports by Chinese auto brands.
Popular in developing countries, Chery Automobile Co has now been China’s biggest vehicle exporter for 12 consecutive years. It has taken a 5 percent share of the auto market in Iran and its sales increased 44 percent in Argentina in the first half of this year, the company said.
Chery hopes to produce 10,000 vehicles in its Brazilian factory this year. The company signed a deal in June to invest in the construction of a giant industrial park in Brazil.
Despite the global auto market slowdown, Chery is in a good position thanks to its good reputation overseas and local production strategies, said Yin Tongyue, the company’s board chairman. He said the brand will target market expansion in eastern Europe, Asia and Africa as the “One Belt, One Road” regional trade and infrastructure network develops.
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