Grand Automotive Introduces Chinese Automotive Giant to Domestic Market
Chery Car Brand Launches in Hungary with Grand Automotive Partnership
Chery Automobile, one of China’s leading car manufacturers, is set to make its debut in Hungary. The Chinese automotive giant has entered into a management representation agreement with Grand Automotive, a local company, to facilitate its entry into the Hungarian market.
Initially, sales are anticipated to commence in late summer or early autumn, featuring two SUV models. These models will be available in both conventional petrol engine and plug-in hybrid electric vehicle (PHEV) variations. Following this launch, Chery plans to introduce two additional plug-in hybrid models shortly thereafter.
In a statement responding to inquiries from MTI, the importer has confirmed that they are in the process of establishing a dealership network and are focused on expanding coverage nationwide.
Chery, the fourth-largest automobile manufacturer in China, boasts a robust presence in over 110 countries and regions, making it a significant player in the global automotive market. With over 10 manufacturing sites, the company is pursuing aggressive growth, including plans for new factories in Europe and Southeast Asia. In 2024, Chery reported global sales of 2.68 million vehicles, a remarkable 38.4 percent increase from the previous year, with the Chery brand alone contributing 1.36 million units to this total.
Grand Automotive, which began operations in Hungary in 2019 as part of the Israeli Taavura Group, currently oversees four European centers. The company is responsible for the import of five car brands across 13 countries, and its dealership partners sold 5,850 new vehicles last year, primarily from the Nissan brand. Public financial records reveal that Grand Automotive’s net sales reached €230.5 million in 2023, a significant uptick from €110 million in 2022. Their profits after tax also increased to €3.2 million, up from €2.9 million the prior year.
As Hungary welcomes Chery to its automotive landscape, the partnership with Grand Automotive is poised to enhance the variety and availability of vehicles for consumers in the region.
Image of the Chery eQ7 provided by Wikipedia.
Source: MTI, Hungary Today
