On October 2, Chery Group released its September and first three quarters sales report.
According to the data, Chery Group sold 280,500 vehicles in September, up 14.7% year-on-year. Among them, Chery-branded vehicles accounted for 255,600 units, a 9% increase year-on-year. By the end of September, Chery Group’s cumulative sales for the first three quarters of 2024 reached 2,007,800 units, representing a 14.5% year-on-year increase, marking the fastest pace in its history to surpass the 2 million annual sales milestone.
Currently, Chery Group operates five major brands: Chery, Jetour, Exeed, iCAR, and Zhijie. The Chery brand, being the oldest and core source of sales, recorded 169,600 units sold in September. Jetour followed with 56,600 units, Exeed with 10,800 units, and iCAR, Chery’s first independent new energy EV brand, reached the “10,000-level” monthly sales milestone with 10,700 units. Zhijie, a brand co-developed with Huawei, sold 7,882 units in September.
In terms of new energy vehicles (NEVs), Chery Group sold 91,600 NEVs in September, a 55.4% year-on-year increase. By the end of September, cumulative NEV sales for the first three quarters totaled 587,500 units, a 77.1% increase year-on-year. Chery has accelerated its NEV portfolio, with over 75% of new product launches in 2024 being NEV models, including the Fengyun A9L, Fengyun T8, Jetour Shanhai L7 PLUS, Tiggo 8 C-DM, the new Super V23, and the updated Zhijie R7. However, despite Chery’s rapid NEV sales growth, it still lags behind leading players like BYD, indicating the company needs to further accelerate its catch-up in the NEV sector.
Exports have also become a major growth driver for Chery. As a veteran in China’s auto export industry, Chery has built a strong overseas sales and production network over many years. Several models have already entered markets such as Spain, Italy, and the UK. In September, Chery exported 137,600 vehicles, a 26.2% year-on-year increase, marking the fifth consecutive month that exports exceeded 100,000 units, securing its position as China’s No.1 auto exporter. For the first three quarters of 2024, cumulative exports reached 936,400 units, up 12.9% year-on-year, also ranking first nationwide. Notably, sales in the European market hit 145,000 units, more than doubling year-on-year. In September, several NEV models from the OMODA & JAECOO brand made their debut at the Munich International Motor Show in Germany.
Chery Automobile has also entered the international capital markets. On September 25, Chery Automobile Co., Ltd. (stock short name: Chery Automobile) was officially listed on the Hong Kong Stock Exchange. The IPO was priced at the upper limit of HKD 30.75 per share, raising HKD 9.14 billion, making it the largest automotive IPO on the Hong Kong market this year. On its first trading day, Chery’s stock rose 3.8%, with a total market capitalization of HKD 184.09 billion. The company stated that following its IPO, Chery will accelerate development, using the raised funds to strengthen R&D investment and speed up global expansion.
As of the end of September, Chery Group’s global user base exceeded 17.72 million, of which more than 5.43 million were overseas users.
