Chinese auto giant Chery enters Hungary with force

The Chinese car brand Chery is entering the Hungarian market after an agreement was signed by Chery Automobile and car importer Grand Automotive.

About Chery

Founded in 1997 in Wuhu, Anhui Province, Chery Automobile Co., Ltd. quickly became one of China’s most prominent car manufacturers. Originally established to boost China’s domestic automotive industry, Chery focused on producing affordable, reliable vehicles tailored for local consumers.

In the early 2000s, Chery expanded aggressively, not just at home but also abroad. It became China’s largest passenger car exporter — a title it has held for many years. Chery’s strategy involved early moves into emerging markets like South America, the Middle East, and Africa, where it built strong brand recognition.

In recent years, Chery has shifted towards developing more sophisticated models, emphasizing design, technology, and electric vehicles (EVs). Its sub-brands, such as Exeed and Omoda, aim to compete with global players in the premium and EV segments. Chery also invests heavily in research and development, operating multiple R&D centers worldwide, including in Germany and Brazil.

By 2024, Chery was not only one of the largest car exporters in China but also among the fastest-growing automakers globally, selling millions of vehicles annually across more than 110 countries. Its entry into more mature European markets, including Hungary, marks a new chapter in its ambition to become a truly global automotive powerhouse.

Chery in Hungary

Grand Automotive said that sales are expected to start in late summer or early fall with two SUV models, which will be available in traditional gasoline and plug-in hybrid (PHEV) versions. These will be followed shortly by two additional models, also with plug-in hybrid powertrains. The importer told MTI that work had begun establishing a nationwide dealership network.

Chery is the fourth-largest car maker in China and is present in more than 110 countries. Grand Automotive, a member of Israel’s Taavura Group, started operating in Hungary in 2019. Grand Automotive Central Europe, based in Budapest, and Grand Automotive East import five car brands in 13 countries.

Three weeks ago, Grand Automotive announced the official entry of Omoda & Jaecoo into the Czech car market. More than 350 guests, including dealers, potential customers, invited VIPs, and senior executives from Chery’s European and global teams, attended the presentation in Prague.

The group sold 2.68 million vehicles worldwide in 2024, representing a 38.4 percent increase over the previous year. Of this, the Chery brand alone accounted for 1.36 million units. Grand Automotive Central Europe Kft.’s trading partners sold 5,850 new cars last year, mainly Nissan models. According to public company data, the company’s net sales revenue was €230.5 million in 2023, following €110 million in 2022. Taxable income was €3.2 million in 2023, compared to €2.9 million a year earlier.

As we wrote earlier, Farizon, the LCV brand of Chinese vehicle manufacturer Geely, has entered the Hungarian market with two models available at its first dealer, details HERE.

Read here our article in Chinese: 中国汽车巨头奇瑞强势进军匈牙利

Read here for more news about cars in Hungary.