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January 17, 2024

Chery Auto PH Posts 64 Percent Growth In 2023

Chery Auto Philippines (CAP) concluded 2023 with a remarkable growth of 64 percent versus its 2022 sales performance. Its total sales reached 3,600 units enabling them to corner a 1.2 percent of the local passenger vehicle segment.

“This previous year was a challenge for the automotive industry as the competition becomes tougher with more and more players especially China brands coming in. We attribute our success last year to the attractive sales and marketing promotions, flexible financing offers extended by our bank partners and the increasing confidence of the market towards our vehicles and aftersales support,” Chery Auto Philippines Managing Director Froilan Dytianquin said.

The Tiggo 5 / 5x Pro was CAP’s sales driver last year with 1,851 units sold. Year-on-year, Tiggo 5 sales significantly increased by 169 percent compared to 2022, maintaining its number 4 ranking in the sub-compact SUV segment with an 11 percent market share.

Meantime, the Chery Tiggo 7 Pro performed well in the compact SUV segment last year with a 31 percent sales growth, selling a total of 910 units in 2023. Based on the data presented by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), the Tiggo 7 achieved a top 4 ranking in its class.

Midsize SUVs continued to dominate the SUV category with a segment that reached 40,000 units in 2023 (a 12 percent growth). This paved the way for Chery’s midsize SUV Tiggo 8 Pro to register a 6 percent sales growth with a total of 473 units sold last year.

“As we welcome the New Year, Chery Auto Philippines remains confident as it aims to double its sales for this year. This will be triggered by the refreshed and new additions to our vehicle model lineup as well as the new Chery dealerships to rise this year,” Dytianquin added.

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