Chery Sells 257,000 Vehicles in June, with Overseas Sales Driving Growth at 191,000 Units

In June 2024, Chery Automobile sold 257,000 vehicles, ranking third among Chinese automakers—trailing only BYD and SAIC Motor. Of this total, overseas sales reached 191,000 units, accounting for approximately 74% of its overall volume. Domestic sales were primarily concentrated in tier-3 to tier-18 cities, with brands under its umbrella, such as Jetour and iCar, enjoying relatively limited brand recognition within China. Chery held the top spot among Chinese domestic-brand automakers for 11 consecutive years from 2001. However, after 2011, internal structural chaos caused by brand fragmentation and an overextended product portfolio led to a decline in its domestic sales. Meanwhile, its overseas expansion strategy gradually bore fruit, particularly achieving strong performance in Europe and Commonwealth of Independent States (CIS) countries. Since 2021, Chery has capitalized on shifting dynamics in the European market, expanding its market share with competitively priced vehicles. Following the Russia-Ukraine conflict, as Western, Japanese, and Korean automakers withdrew from the Russian market, Chery swiftly moved in to fill the void. In Europe, amid rising costs of electric vehicles, Chery’s value-for-money models have gained consumer acceptance, driving sales growth and enhancing the international reputation of Chinese automotive brands.