Chery’s Resilient Growth: Record-Breaking Year Amid Economic Challenges
In a year marked by global economic slowdown, Chery has proven its resilience and competitiveness, solidifying its position as a global automotive powerhouse. Through strong product offerings and strategic expansion, the Chinese automaker has continued to thrive in a challenging market. In 2024, Chery not only posted impressive sales numbers but also reached several key milestones that highlight its growing influence on the global automotive stage.
Strong Export Growth
Chery has maintained its position as the top Chinese passenger car exporter for an impressive 22 consecutive years. With a 21.4% increase in exports, the company shipped 1,144,588 units worldwide. This robust growth in exports showcases Chery's ability to remain competitive even amid an economic slowdown, driven by a combination of product innovation and global demand.
New Energy Vehicle Success
Chery’s commitment to sustainability and electric mobility is evident in its remarkable growth in new energy vehicle (NEV) sales. In 2024, the company sold 583,569 NEVs, reflecting an astonishing 232.7% increase—marking the fastest growth among major automakers. The company also saw significant success in the plug-in hybrid electric vehicle (PHEV) segment, surpassing 100,000 units in December alone, with a month-on-month growth of 31.9%.
This impressive performance in the NEV market highlights Chery's ability to meet the growing demand for greener, more sustainable transportation options, positioning itself as a key player in the transition to electric mobility.
Strategic Expansion in Europe
Chery’s expansion into international markets has been a cornerstone of its growth strategy. In November 2024, the company marked a significant achievement with the opening of its first joint venture plant in Europe, in collaboration with Spain's EV MOTORS. This plant is not only a milestone for Chery but also contributes to the revival of the Spanish brand EBRO, as it produced its first vehicle at the plant. This move strengthens Chery’s footprint in Europe, a key market for its international growth.
Milestones in Global Production and Exports
Chery reached another significant milestone in October 2024, celebrating the joint production of its 15 millionth vehicle across its five plants worldwide. This achievement is a testament to the scale and success of Chery’s manufacturing capabilities. Additionally, the company reached a major milestone in its global strategy with the successful export of the one-millionth TIGGO 7, reinforcing the popularity of its flagship model in international markets.
Record-Breaking Success in Australia
Locally, Chery had an exceptional year in Australia, with 12,603 units sold, marking a 158% year-over-year increase. This remarkable performance has earned Chery the title of Australia’s fastest-growing car company, further solidifying its presence in the region. With its growing portfolio of vehicles and a strong focus on customer satisfaction, Chery is poised to continue its upward trajectory in the Australian market.
Looking Ahead to 2025 and Beyond
As Chery reflects on a year of significant accomplishments, the company is well-positioned for continued success in 2025. With its expanding global footprint, a robust line-up of new energy vehicles, and a focus on strategic partnerships and innovation, Chery is set to remain a major player in the global automotive industry. The company’s impressive growth in 2024 demonstrates not only its resilience in the face of economic challenges but also its ability to adapt and thrive in an increasingly competitive and sustainable automotive landscape.
Chery’s journey to becoming a global automotive leader is far from over, and with each milestone, the company continues to build momentum for even greater success in the years ahead.
Credit: Autotalk.com.au