Chinese car manufacturer Chery to increase production to 1 million vehicles per year

9 July 2007

Beijing, China, 9 July – Chinese car manufacturer Chery Automobile plans to increase its production to 1 million vehicles in 2010, according to sources cited by Chinese news agency Xinhua.

The company, which is headquartered in Wuhu in China’s Anhui province, is expected to boost production from 500,000 to 700,000 vehicles this year.

Chery, which last year had a 7.2 percent share of the Chinese market, as compared to 6.7 percent in 2005, sold 305,200 vehicles in 2006, making it the fourth-largest automotive sector company in China.

US group Chrysler, which last week signed an agreement to sell Chery cars in North America and Europe, will select four to six models developed by Chery for sale with the group’s brands.

Sales in North America and Europe are expected reach 300,000 to 500,000 units by 2019.

In 2006, Shanghai Automotive Industry, a partnership between General Motors and Volkswagen AG, was the largest car manufacturer in China, having sold 1.34 million units. (macauhub)