Chery debuts on Fortune Global 500

Chery joined yet another exclusive club, when the Chery Holding Group made its grand debut on the Fortune Global 500 list on 5 August.

It ranked at the 385th position with a revenue of R720 billion.

The Fortune Global 500 list ranks the top 500 companies globally based on their respective fiscal years. The list is compiled by the esteemed Fortune magazine.

This is another impressive milestone for the Chinese automotive juggernaut, which was born from humble beginnings a mere 27 years ago. This achievement is once again a testimony to how Chery’s core values, such as environmental sensitivity, the pursuit of cutting-edge technology, market-leading quality and value, and the importance of family and companionship, have shaped it into a globally recognised and respected enterprise with 14.2 million end users of their products.

Chery currently operates in 80 countries and regions and is one of the Chinese automotive brands on the Fortune Global 500 list with one of the most extensive global footprints.

Chery is, of course, riding the crest of the wave of quality development. From 2021 to 2023, the group’s annual sales increased from 962 000 to 1.881 million vehicles, nearly doubling in three years. It has exported 3.9 million units and, in the process, maintained its position as the leading Chinese exporter of passenger cars. In 2023 one in every three exported Chinese passenger vehicles was a Chery. In the first half of 2024, Chery sales have already exceeded 1.1 million vehicles.

“Chery will, however, not allow accolades like these to estrange us from our loyal customer base. If anything, this only intensifies our determination to grow closer to markets such as South Africa where love for the Chery brand has surpassed our wildest expectations,” said Tony Liu, Chery South Africa’s Executive Deputy General Manager.

Chery’s inclusion in the Fortune Global 500 list comes hot on the heels of its Gold Award in the annual NADA Dealer Satisfaction Index as well as its top spot in the auto category of the prestigious Google X Kantar BrandZ Top 50 Chinese Global Brand Builders for 2024.