Chery Automobile has posted a decline in annual sales in 2008, reversing the previous growth trend.
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Chery sold 356,000 vehicles last year, down 6.6% from the previous year, and way off its sales target of 480,000 units for that year, according to company data just published.
The company’s sales performance in 2008 was hit by a slowing of demand in China, as well as in export markets.
Overseas sales fell to 135,000 cars last year, from around 180,000 in 2007, during which it recorded a 132% jump in vehicle exports.
