Chery Automobile Signs a Distributorship Agreement with South African McCarthy

December 9, 2007 -- On Dec. 8, 2007, Chery and South African McCarthy Company entered into the Distributorship Agreement in Wuhu, Anhui Province, China. As the representatives from the two parties, Mr. Yin Tongyao, Chairman and General Manager of Chery, and Mr. Jolyon Nash, CEO of McCarthy signed the agreement. This is another milestone of Chery in the South African market since Nov. 2007 when Chery super bulletproof vehicles were exported to this country.

According to the agreement, McCarthy is responsible for the sale, after-sales service and brand promotion etc of Chery in South Africa. Chery cars will be launched in South Africa in April 2008, and the estimated sales volume by the end of 2008 in this market will exceed 5,000 units. Mr. Yin Tongyao, Chairman and General Manager of Chery said, ‘McCarthy possesses mature experience in brand promotion and sales management. The cooperation between the two sides is of great significance, which will not only help Chery gain a foothold in the South African market, but also lays a solid foundation for Chery to exploit the African and even the European market. At the same time, it is a new front for Chery to exploit the RHD market.’

It is said that the total sales of new vehicles in South Africa accounts for 60% of the whole African market. The mature South African market, in which the consumption custom is very similar to that of the Europe, plays an important role in the African auto market. As the second largest auto distributor in South Africa, McCarthy owns more than 130 dealers, dealing with several world-renowned auto brands, such as Audi, BWM and Volvo, etc.

When speaking of the cooperation between the two parties, Mr. Nolyon Nash, CEO of McCarthy expressed that Chery was a famous auto brand that owned the most development potential in China, and joining hands with Chery accorded with the interests of the two sides for long-term development.

Till the day of Nov. 30, 2007, Chery has accumulatively exported 114,718 units of cars this year, achieving an increase rate of 164.7% over the same period of 2006, and ranks first for 5 consecutive years in car export among the Chinese passenger vehicle manufacturers. Along with the birth of its 1,000,000th car, Chery has entered the phase of ‘creating a world famous brand through opening and innovation’. The internationalized strategic layout is gradually formed and its overseas markets are attracting great attention from all over the world.

Background of South African McCarthy

As the 2nd largest auto distributor in South Africa, McCarthy now owns 5,795 employees and enjoys a history of 97 years, mainly dealing with auto retail, import, distribution, parts sales, auto finance and rent etc of 19 world-renowned brands, including BMW, Audi, Fiat and Alfa Romeo, etc. The more than 130 solely funded dealers of McCarthy are founded all over South Africa, which enables the company to achieve a turnover of 2.234billion USD in 2006.

Source: Chery Automobile

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