Chery Automobile Corporation is upending the competition in its home market. The manufacturer leapfrogged a healthy three notches on China's sales ranking list in February, in the process marking the first time a domestic has pushed out a foreign joint-venture to take to the podium.
Cherry shifted 21,000 units last month (an impressive 130-percent increase year-over-year), largely on the strength of
GM's
their QQ subcompact. The latter, a bargain-priced entry isn't exactly a profit center. Xinhua reports that the automaker earns about 500 yuan profit-- about $62 USD. Still, turning a profit on small cars is a difficult business, be it in China or here in North America.
Regardless, Chery's efforts saw it take third place in overall sales during February behind Shanghai GM and Shanghai Volkswagen. It unseeded another Wolfsburg joint-venture, First Automobile Works/VW.
[Source: Xinhuanet.com]
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