8.24Chery speeds up entry into high-end car market

Chery speeds up entry into high-end car market

 

http://autonews.gasgoo.com/auto-news/1011878/Chery-speeds-up-entry-into-high
-end-car-market.html

 

Shanghai, August 24 (Gasgoo.com) Chery Auto, a Chinese carmaker well-known
for its low-end cars such as the QQ series, remains highly confident of its
entry in the mid- to high-end car market in the country, although only 5,000
units of its Riich M1 have been sold in the past four months, said Beijing
Times today.

 

As a follow-up to its 1.3-liter Riich M1 luxury model, Chery Auto launched
the 1.0-liter Riich M1  model on August 16, priced between 38,800 yuan
($5,680) and 53,800 yuan. Sources also said that the 1.3-liter automatic M1
will be released later this year.

 

Chery Auto has about 100 dealerships currently for its Riich brand, and the
number will increase to 150 by the end of this year, when another two
all-new models Riich G5 and Riich X1 will also go on sale in the domestic
market.

 

Both the Chery and Riich brands of Chery Auto cover the minicar, sedan and
SUV series, but they have different market orientation: Chery is for the
mass market, while Riich is for the mid- to high-end market, just like the
difference between General Motors' Chevrolet (Chevy) and Buick brands. 

 

The company has not excluded the possibility that the Chery and Riich brand
will share the same platform and technology in the future, although their
styling features and core elements will remain distinctive. 

 

The Chery brand includes QQ, Fulwin, Cowin (Qiyun), Tiggo, and A series, and
the Riich brand will focus on the G series (sedans) in addition to the M
series (minicars), X series (SUVs) and Z series (race cars).

 

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