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| 4th QUARTER  | 
MCCARTHY HELPS CHERY BLOSSOM IN SA

In mid-2007, McCarthy Motor Holdings marched in the Meiya bakkie, and now the well-established automotive retail group has signed a distribution deal with yet another "made in China" manufacturer - Chery Automobile Company.

Chery Automobile is China's fourth-largest carmaker and exported 119 800 vehicles in 2007, an increase of 132 per cent on the previous year. The company claims to have been China's leading car manufacturer by export volume for the past five years, with overseas sales already accounting for one third of its total. Chery predicts it will export more than 200 000 vehicles this year on the back of tie-ups with companies including Chrysler and Fiat.

"Details of the models we will market in South Africa are still being finalised, but we are delighted to have signed an agreement with such a significant Chinese motor manufacturer," commented Jolyon Nash, McCarthy's executive director responsible for the company's import and distribution division.

South African can expect to see Chery passenger cars on the road around the fourth quarter of 2008. Yin Tongyao, chairman and general manger of Chery Automobile expressed that he is "pleased that Chery will soon be a player in a market that accounts for 60% of vehicle sales in Africa and, as such, would provide a springboard for sales of our products into other African countries."

According to McCarthy, McCarthy Value Centres will be the national dealer network for Chery products. These centres will also be used to sell and service Chery vehicles.

Chery was established in 1997 and claims to be China's top exporter and fourth ranked Chinese motor company when it comes to passenger car production.

"We are most excited about the Chery distribution rights, and are confident that these high quality, attractive, and very affordable vehicles will find wide acceptance in the South African market," concluded Nash.

 

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