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September 03, 2015 12:31 PM ET

Automobiles

Company Overview of Chery Automobile Co., Ltd.

Company Overview

Chery Automobile Co., Ltd. engages in the production and sale of automotive vehicles, products, and engines. It also exports its products to approximately 80 countries worldwide. The company was formerly known as SAIC Chery Automobile Co., Ltd. and changed its name to Chery Automobile Co., Ltd. in September 2004. Chery Automobile Co., Ltd. was founded in 1997 and is based in Wuhu, China.

No. 8 Changchun Road

Economic and Technological Development Zone

Wuhu,  

China

Founded in 1997

Fax:

86 55 3595 1289

Key Executives for Chery Automobile Co., Ltd.

Chairman, President and General Manager
Executive Vice President
Vice President
Deputy General Manager and Marketing General Manager
Compensation as of Fiscal Year 2015.

Chery Automobile Co., Ltd. Key Developments

Chery to Set Up New Energy Vehicle Manufacturing Facility in Zhuzhou

Chery will set up a new energy vehicle manufacturing facility in Zhuzhou with annual production capacity of 50,000-100,000 units. In 2014, sales of new energy vehicles from eight independent Chinese carmakers stood at 55,558 units, while Chery sold 9,847 units, representing 17.7% of the total sales. Chery plans to boost its sales to 700,000 units in 2015, up 40% year on year.

Chery Automobile to Launch Arrizo 5 in China

Chery Automobile is launching its Arrizo 5 sedan in China. The model is to be launched in the third quarter of 2015 and will be priced from CNY 60,000 to CNY 100,000. It will be positioned between the Chery Arrizo 3 and the Chery Arrizo 7. The vehicle will be available with a choice of 1.2 turbo and 1.5 turbo engines.

Chery Automobile Co Announces Earnings Results for the Year 2014

Chery Automobile Co has reported an 86% year-on-year (y/y) drop in full-year net profit to CNY 127 million (USD 20.5 million) in 2014 as the company's joint ventures (JVs) weighed heavily on results. Company's unit sales rose 4% to 455,380 vehicles, and the company reported the average price attained for its vehicles increased to CNY 80,000, up from CNY 50,000 in 2013.

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