News - Chery Group’s revenue exceeded 100 billion for 4 consecutive years, and passenger car exports ranked first for 18 consecutive years
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Chery Group’s sales have stabilized, and it has also achieved a revenue of 100 billion yuan.

On March 15th, Chery Holding Group (referred to as “Chery Group”) reported operating data at the internal annual cadre meeting showed that Chery Group achieved annual operating revenue of 105.6 billion yuan in 2020, an increase of 1.2% year-on-year, and the fourth consecutive year of revenue breakthrough 100 billion yuan.

International Chery’s global layout has overcome the challenges of factors such as the spread of overseas epidemics. The group exported 114,000 vehicles throughout the year, an increase of 18.7% year-on-year, maintaining the number one export of Chinese brand passenger vehicles for 18 consecutive years.

It is worth mentioning that in 2020, Chery Group’s auto parts business will achieve sales revenue of 12.3 billion yuan, newly added Eft and Ruihu Mould 2 listed companies, and reserve a number of listed echelon companies.

In the future, Chery Group will adhere to the new energy and intelligent “double V” route, and fully embrace the new era of smart cars; it will learn from Toyota and Tesla’s “double T” enterprises.

114,000 cars exported increased by 18.7%

It is understood that in 2020, Chery Group has released more than 10 new vehicles such as Tiggo 8 PLUS, Arrizo 5 PLUS, Xingtu TXL, Chery Antagonist, Jietu X70 PLUS, and achieved annual sales of 730,000 vehicles. The cumulative number of users exceeded 9 million. Among them, the annual sales of Chery Tiggo 8 series and Chery Holding Jietu series both exceeded 130,000.

Thanks to the stabilization of sales, Chery Group will achieve operating income of 105.6 billion yuan in 2020, a year-on-year increase of 1.2%. Data show that from 2017 to 2019, Chery Group’s operating income was 102.1 billion yuan, 107.7 billion yuan and 103.9 billion yuan, respectively. This time, the group’s operating income has exceeded 100 billion yuan in revenue for the fourth consecutive year.

International Chery’s global layout has overcome the challenges of overseas epidemics and other factors, and achieved breakthrough growth in 2020, which is extremely rare. The Group exported 114,000 vehicles throughout the year, a year-on-year increase of 18.7%. It has maintained the No. 1 export of Chinese brand passenger vehicles for 18 consecutive years, and has entered a new development pattern of “international and domestic dual-cycle” mutual promotion.

In 2021, Chery Group also made a “good start.” From January to February, Chery Group sold a total of 147,838 vehicles, a year-on-year increase of 98.1%, of which 35017 vehicles were exported, a year-on-year increase of 101.5%.

Driven by globalization, many Chinese brand car companies have established factories and R&D bases in overseas markets, such as Geely Automobiles and Great Wall Motors.

Up to now, Chery has established six major R&D bases, 10 overseas factories, more than 1,500 overseas distributors and service outlets around the world, with a total overseas production capacity of 200,000 units/year.

The background of “Technology Chery” has become more vivid, and the core competitiveness of the company has been significantly improved.

By the end of 2020, Chery Group had applied for 20,794 patents, and 13153 were authorized patents. Invention patents accounted for 30%. Seven companies of the group were selected as one of the top 100 invention patents in Anhui Province, of which Chery Automobile ranked first for the seventh consecutive year.

Not only that, Chery’s self-developed 2.0TGDI engine has entered the mass production stage, and the first model Xingtu Lanyue 390T will be officially launched on March 18.

Chery Group stated that, driven by its main automobile business, the “auto industry ecosystem” built by Chery Group around the main value chain of the automobile is full of vitality, including auto parts, auto finance, RV camping, modern service industry, and intelligence. The development has formed a development pattern of “various trees into forests”.

Post time: Nov-04-2021