When consultant Bill Russo visited Chery Automobile's headquarters in Anhui province about three years ago, he listened to the company's plans to expand its factories to make as many as one million vehicles a year. But demand did not grow as planned.
Chery Automobile Co was founded in 1997 is the seventh largest China-based automaker, measured by output in 2011, when it produced around 600,000 units. Its products are mainly passenger cars, minivans and SUVs and its vehicles are sold under four brand names: Chery, Karry, Rely and Riich. In September 2012, Chery said Chinese regulators had cleared it for a joint venture with Jaguar Land Rover, part of India’s Tata Group.