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Chery admits contact with investors

Biwen Wang From Gasgoo| October 25 , 2017

chery investor, chery financial performance, chery sales export

Shanghai (Gasgoo)- On September 23rd, related person from Public Relations Department of Chery Auto responded on the rumors that Chery would be sold to some investors, “Auto industry is always pursued by capitals by way of technological developments. Chery is always contacting with some investors for some years, but no confirmed news can be provided.”

In fact, Chery Auto shows relatively bad performance compared with other self-independent brands such as Geely, GWM and Changan. Chery Auto’s sales volume from January to September this year only ranks 20th among all brands. It’s introduced that the group shows steady developments in the first half of year with outstanding performances for NEVs and exported vehicles. The group has a total sales volume of 315,172 units in the first half of year with a year-on-year growth of 11.2%. Benefited from the good performance of eQ1, Chery NEV products sell 9,300 units and grow 55.3% year on year, reaching historical high record. Exported vehicles reach 54,317 units with a year-on-year growth of 35.7%, still ranking 1st among all domestic brands. Exported sales of strategic transformation products represented by Arrizo and Tiggo series occupy more than half of the total exported volume, bringing many benefits for Chery’s exported business.

Chery Auto also responds that it is quite normal for Chery Auto, a state-owned joint-stock company, to conduct capital operation. But no strategic investor has been confirmed yet. Besides, it is a trend for domestic auto companies with technologies and competitive strengths to attract attention from investors. Chery Auto has an open mind in cooperating with investors and intends to promote its business layouts by aid of capital funds. 

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