China's Chery reports 38.4% jump in 2024 sales to 2.6 mln vehicles

Reuters01-07

China's Chery reports 38.4% jump in 2024 sales to 2.6 mln vehicles

Jan 7 (Reuters) - Chinese automaker Chery CHERY.UL on Tuesday reported a 38.4% jump in global car sales for 2024 to 2.6 million vehicles and forecast sales of more than 3 million this year.

State-owned, Wuhu-based Chery said its revenue rose more than 45% to 480 billion yuan ($65.52 billion) as it remained China's top car exporter, shipping 1.14 million to foreign markets.

The jump in sales will almost certainly push Chery up several places in the ranking of global automakers, with many yet to report their 2024 full-year sales.

Rival Geely GEELY.UL, which had sold 3 million vehicles through November, said this week that it expects its car sales to hit 5 million units by 2027.

BYD 002594.SZ said last month that it was on track to sell more than 4 million cars in 2024 and pass both Ford and Honda in sales.

Chery is rolling out car models for its Omoda and Jaecoo brands in Europe, and will start producing cars with a joint venture partner in Spain this year.

($1 = 7.3257 Chinese yuan renminbi)

(Reporting by Nick Carey; editing by Jason Neely)

((nick.carey@thomsonreuters.com; +44 7385 414 954;))

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