Core Viewpoint - Chery Automobile has signed an agreement with Jameel Motors to launch Omoda and Jaecoo brands in the Iraqi market, indicating a strategic move to expand its presence in the Middle East [1][3]. Group 1: Market Demand and Growth - The Iraqi market has shown strong demand for new vehicles, with new car sales estimated to have increased by over 28%, reaching approximately 161,000 units [3]. - The automotive industry is a key sector in Iraq, accounting for 8%-10% of the country's total imports, which presents new opportunities for Chinese automakers [3]. Group 2: Export and Sales Performance - In the first half of this year, the number of cars exported directly from China to Iraq rose to 18,000 units, a 71.4% increase compared to the same period last year [3]. Group 3: Leadership and Strategy - Jameel Motors' Iraqi operations will be led by Kamal Sultan, who has over ten years of experience in the Iraqi market and has previously established sales networks for brands like Toyota and Nissan [5]. - The Vice President of Jameel Motors, Jasmine Wong, emphasized the importance of careful selection of overseas partners and a long-term investment approach for Chinese automakers, highlighting the need for comprehensive pre-sales and after-sales services to enhance customer satisfaction [5].

Core Insights - Chery Automobile reported that its sales in the European market exceeded 30,000 vehicles in the first half of the year, representing a nearly 11-fold year-on-year increase [2] - In 2024, Chery will launch the Omoda and Jaecoo brands in seven European markets, with its high-end brand Exlantix debuting in select Nordic countries [2] - The Jetour brand is set to enter the European market in the third quarter of this year, with more new brands and models planned to cater to diverse consumer needs [2] Strategic Developments - Chery has partnered with EVMotors, a traditional car manufacturer in Barcelona, Spain, to establish a joint venture factory, addressing EU tariffs on Chinese electric vehicles and creating numerous job opportunities [2] - The factory is expected to have an annual production capacity of 200,000 vehicles, with plans to increase the proportion of locally produced components to over 50% [2] Recognition and Growth - Chery Automobile ranked 233rd in the 2025 Fortune Global 500 list, climbing 152 positions from the previous year, marking the fastest rise among automotive companies in the ranking [2]

Group 1 - In May, Chinese automotive brands achieved a remarkable 85% year-on-year sales growth in Europe, surpassing 60,000 units sold, while the overall European market saw only a 1.3% increase to 1.116 million units [1][2] - The market share of Chinese automotive manufacturers in Europe reached a record high of 5.4%, up from 3% in the same period last year and 4.6% in April this year, indicating a growing influence in the European market [1][2] - The strong performance of Chinese brands offset the decline of European, Japanese, and South Korean manufacturers during the same month [1] Group 2 - In terms of vehicle types, sales of Battery Electric Vehicles (BEV) increased by 31% to 17,000 units, while Plug-in Hybrid Electric Vehicles (PHEV) saw an astonishing growth of 874% to 13,000 units, and Hybrid Electric Vehicles (HEV) rose by 991% to 9,560 units [2] - The market share of BEVs from Chinese manufacturers decreased from 41% last year to 29% in May, while PHEVs increased from 4% to 22%, and HEVs rose from 3% to 16% [2] Group 3 - BYD emerged as the fastest-growing Chinese automotive manufacturer, with total sales reaching 13,000 units in May, a significant increase from over 3,000 units last year, primarily driven by the Seal U model, which sold over 7,000 units [4] - Chery also experienced substantial growth, with sales reaching 7,963 units, a 900% increase, largely due to the introduction of the Jaecoo and Omoda brands in Europe [4] Group 4 - MG, which had previously halted exports to Europe due to EU tariffs, maintained its position as the sales leader in Europe with a total of 126,000 units sold in the first five months of the year, while BYD and Chery sold 54,000 and 29,000 units, respectively [6]