Chery Group's 2024 strategy: achieve comprehensive development and lead industry growth

On January 22, the "One Qi Yue Longmen" 2024 Chery Family Banquet·Beijing Station event was held grandly. Chery Group brought the four major brands of Chery, Xingtu, Jietu, and iCAR to have a good time with the media and user friends. Chery Families gathered together to look toward the future hand in hand and talk about Chery's new journey.

Continues to improve, Chery Group hits four historical highs

2023 This year is not only a year of innovation and change for the automobile industry, but also a year of major tests for Chinese automobile companies. Faced with the challenges of fierce competition in the industry, Chery Group has comprehensively laid out the two major international and domestic markets, covering the four major tracks of fuel, hybrid, pure electric, and hydrogen energy. It adheres to the principle of "brand upward, market outward, technology toward the future, and industry toward the full value chain." "Four-directional development path", operating performance created "four historical highs".

The group’s annual revenue was 315.1 billion yuan, a year-on-year increase of more than 50.4%, achieving a “big leap” of 100 billion yuan in one year; annual automobile sales were 1,881,316 units, a year-on-year increase of 52.6%, far exceeding the industry growth The group exports 937,148 cars annually, a year-on-year increase of 101.1%, ranking first in the export of Chinese brand passenger cars for 21 consecutive years; in the "2023 China New Car Quality Report" released by J.D. Power, Chery ranked first among independent Brand first.

With the numerous achievements, Chery’s continuous upward movement has never stopped. Zhang Guozhong, executive deputy general manager of Chery Automobile Co., Ltd., said that Chery must adhere to quality first and value-based, and must adhere to long-termism and internationalization strategies.

Chery not only wants to eat "technology rice" and "quality rice", but also eat "brand rice" and "ecological rice". In the new year, Chery will use continuous technological innovation to bring more surprises and use world-class quality to give back the trust of global users. In 2024, Chery will continue to maintain high-quality development and realize its corporate vision of "building a world-class green smart travel technology company" with the goal of "surpassing the industry's sales growth rate by 10-20 percentage points".

##Continue to move towards the new, the four major brands are ready to go

The spring dragon raises its head, bringing good luck. As the first banquet of the new year, the "Yi Qi Yuan Long Gate" Chery Family Banquet·Beijing Station event has a good sign. Li Xueyong, deputy general manager of Chery Automobile Co., Ltd., represented the four major brands to celebrate this unique family event. At the banquet, four "hard dishes" were carefully presented:

Chery leaps forward and the situation rises again. As the first choice brand for value-for-money homes, the Chery brand has always been committed to bringing products and services with the most user value, reliability and warmth to hundreds of millions of families. In 2023, the Chery brand has established three major brand labels: "Technical Chery, International Chery, and User Chery". With technological advancement, global R&D, and user co-creation, the Chery brand has achieved an upward leap.

At present, the Chery brand has formed four product series: Tiggo series, Arrizo series, Exploration series, and Fengyun series, creating a dual-line product matrix of fuel and new energy. In 2024, the Chery brand will launch 8 models Upgraded and iterated fuel models and 5 new hybrid models cover various market segments. As new products are launched one after another, the Chery brand will continue to build a more complete and rich product matrix system for users.

The star road is bright and the star era is ushered in. After five years of persistence and accumulation, the Xingtu brand has entered the fast lane of development in 2023. The cumulative sales volume for the year was 125,521 units, a year-on-year increase of 134.9%. The annual sales volume exceeded 100,000 units for the first time, fully achieving high-end advancement. In the future, Xingtu will continue to uphold long-termism, achieve breakthroughs in brand potential based on the "five high-ends", and build Xingtu into a "global high-end new energy brand". In 2024, Xingtu will fully transform into new energy sources. Relying on two world-class platforms - the M3X ultra-hybrid platform and the E0X ultra-comfortable and high-performance electric platform, Xingtu plans to launch 3 fuel iterations, 3 C-DM hybrids, and 2 pure electric vehicles. Electricity and two range-extended all-area product matrix, with the full-year sales target reaching 300,000 units.

It’s a quick journey to the mountains and seas together. The Jietu brand has accumulated sales of 315,167 units in 2023, a year-on-year increase of 75%. It not only exceeded the annual sales target, but also achieved one million sales in 65 months, becoming the fastest Chinese new SUV brand to achieve one million sales, creating China's new cutting-edge SUV brand. The SUV brand ranks first in growth rate and the market share of independent fuel-powered SUVs ranks first in growth rate. In the new year, Jietu will strive to surpass one million and achieve another one million, realizing the transition from "the leading brand of 'travel' travel ecology" to "the world's number one hybrid off-road brand". In the future, Jietu will continue to promote the product strategy of fuel-hybrid two-wheel drive, based on the efforts of Jietu Mountain and Sea Series, to further increase sales and popularity in the mainstream market. Jietu will launch a total of 15 new products including 7 fuel models and 8 hybrid models, aiming to launch a new impact on annual sales of 500,000 units in 2024.

Trendy playmate, iCAR moves forward. As the group's first new energy electric brand, iCAR has unsheathed its sword and entered the market strongly. The number of pre-sale orders for iCAR 03 exceeded 13,000, making it a new car purchase choice for young users. In the new year, iCAR will clearly build cars for young people, build desirable, cool and valuable cars, adhere to the main line of creating hot-selling products, and develop 100,000-300,000 new products at the pace of two new products every year. Differentiating new markets, simultaneously building new channel models, providing an experience beyond expectations, and rapidly growing into a "new force" in car manufacturing with both Internet thinking and traditional heritage.

Continue to move forward and build a better future together

Standing at a new starting point in 2024, Chery Group will face more new challenges and new tasks, and welcome more new opportunities and new Leapfrogging, as Zhang Guozhong, executive deputy general manager of Chery Automobile Co., Ltd., said, brand improvement is the strategic goal and way of survival that Chery has always adhered to. In the past, we relied on cost-effectiveness and quality-price ratio, but now we compete on brand-value ratio. Chery will firmly allow users to enjoy higher experience value and a better travel life.

#The wind is good and it’s time to set sail. You don’t need to wait for the whip to be raised before you start to work hard. In the new year, the four major brands of Chery, Xingtu, Jietu and iCAR are ready for development. They will continue to be technology-based and user-oriented to create more high-quality, high-tech-price-performance, appearance-price-performance, and products for global users. Products and services with good value for money create a value experience that makes users satisfied, excited and proud in various segments.

In 2024, Chery looks forward to working with global users, partners, and friends from all walks of life to work together to create a win-win situation, lead the development of the automotive industry, and show the world the power of Chery from China.

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