Automaker Chery has reported record car exports for 2011.
Chery Automobile Co. sold around 160,000 units overseas last year, an increase of 74% from 2010. China's largest vehicle exporter by far, Chery has attributed some of its success to growing sales in emerging markets, such as Brazil and Russia, and expects to expand exports even further throughout 2012.
Chery QQs line up at a media launch in Brazil Image: CheryInternational.com |
Chery currently operates 13 foreign assembly plants spread out across Asia, Africa and the Middle East, which build cost-cutting knock-down kits. China's finished auto exports surged to a total of 814,300 units, of which Chery made up 35%, almost 50% higher than the 2010.
Despite double-digit profits overseas, Chery continues to under-perform in the domestic sector and, despite the record figures, still experienced a 5% year-on-year drop in overall sales to 871,700 units by November last year. Sales of Chinese brands' light-vehicles in general saw a 3% slowdown in 2011, compared to the soaring profits of their European, American and Korean counterparts.
The overall deceleration was due in part to the slowing of domestic auto sales and Chery has yet to release its domestic sales figures for 2011.