Chery Automobile Aims for Similar Market Share as Kia in UK within Five Years

TapTechNews August 8th news, the British automotive media AutoCar reported today that Victor Zhang, the head of Chery Automobile UK, disclosed Chery Automobile's sales target in the UK during an interview at this year's Goodwood Festival of Speed.

Victor Zhang said that it is inconvenient to answer for the specific sales target, but hopes to obtain a similar to Kia market share in the UK within five years.

Currently, Chery has launched two brands, Omoda (TapTechNews note: Omoda 5) and Jaecoo, in the UK. The report said that as a carmaker that has achieved success globally, Chery is in the starting from scratch stage in the UK and faces a difficult task.

Victor Zhang said in an interview with the Financial Times in January this year that after Chery entered the UK market this year, it can build a dedicated factory in the UK if it reaches a certain sales target in 2-4 years. Chery plans to offer pricing similar to Hyundai and Kia for its vehicles, rather than scaring other competitors with a low price.

It is worth noting that the two Korean automakers Hyundai and Kia occupy almost one-tenth of the market share in the local area.

He once said that the UK has a large enough (2 million) market demand, and the Chery UK factory to be established in this decade will focus on the production of electric vehicles, and fuel and hybrid models will be determined according to demand.