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Market Chatter: Chery Automobile Plans to Add Smaller Models in Europe

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-- Chery Automobile (HKG:9973) seeks to add smaller cars to its range of models in Europe as it plans to expand within the region, Reuters reported Monday, citing the automobile maker's head of engineering, Peter Matkin.

Matkin told the media, following a presentation of the L6 model during the Milan Design Week, that the company's pushing for models smaller than SUVs that are 4.2 meters and above because they are missing 50% of the European market, the news outlet reported.

Chery's SUV models, including Omoda and Jaecoo, are leading the company's growth in Europe. The L6 model is under the company's Lepas brand, which was added to its models a year earlier, according to the report.

The company plans to expand its production within the region through partnerships with other automobile manufacturers, the news agency reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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