Tiggo 5X leads Chery Auto PH's 64% growth in 2023

Chery Auto Philippines (CAP) wrapped up 2023 with a remarkable growth of 64% versus its 2022 sales performance. The automaker recorded total sales of 3,600 units, cornering 1.2% share of the passenger vehicle segment.

“This previous year was a challenge for the automotive industry as the competition becomes tougher with more and more players especially China brands coming in. We attribute our success last year to the attractive sales and marketing promotions, flexible financing offers extended by our bank partners and the increasing confidence of the market towards our vehicles and aftersales support,” said Froilan Dytianquin, Managing Director of Chery Auto Philippines.

The Tiggo 5X was CAP’s sales driver last year with 1,851 units sold. Year-on-year, Tiggo 5X sales significantly increased by 169% compared to 2022, maintaining its number 4 ranking in the subcompact SUV segment with an 11% market share.

On the other hand, the Chery Tiggo 7 performed well in the compact SUV segment last year thanks to a 31% sales growth, selling a total of 910 units in 2023. Based on the data gathered by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), the Tiggo 7 achieved a top 4 ranking in its class.

As for midsize SUVs, they continue to dominate the SUV category with more than 40,000 sales in 2023 - equivalent to a 12% growth. This paved the way for Chery’s midsize SUV Tiggo 8 to register a 6% sales growth with a total of 473 units sold last year.

“As we welcome the New Year, Chery Auto Philippines remains confident as it aims to double its sales for this year. This will be triggered by the refreshed and new additions to our vehicle model lineup as well as the new Chery dealerships to rise this year,” added Dytianquin.