Motor Vehicles and Parts News
- Chery 2006 exports up 178%
Date: 4-Jan-2007 Sources: (Shenzhen Daily)
EXPORTS by China's Chery Automobile Co. rose 178 percent to 50,000 cars last year, the Xinhua news agency reported Tuesday, citing company sources.
The company's overall car sales climbed 61 percent to 305,236 units in 2006, following a 118 percent sales surge in 2005, the report said. Late last year, the company based in Wuhu, in the eastern Anhui Province, signed a deal with DaimlerChrysler AG's Chrysler Group for the Chinese manufacturer to build small cars in the Chrysler Group brands to be sold around the world. In October, Chery signed a memorandum of understanding with Italy's Fiat Auto to supply the Italian maker 100,000 gasoline engines for cars produced both in China and abroad. Chery is planning an IPO in 2008, possibly choosing both the mainland A-share market and the Hong Kong market.
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