Chinese luxury carmaker Seres comes from behind to overtake BMW

In less than four years, Seres Group Co. And a small Chinese Chinese company, which is once famous for 30,000 yuan ($ 4200) mini van, beat luxurious heritage names such as BMW and Mercedes to become the high -end car seller in the country.

Serees, which was called the former DFSK Motor, is called Huawei Technologies, the giant communications giant in 2021 to launch the AITO brand for excellent sports vehicles. Since then, Cyris has been amazing. Sales doubled three times in three years to about 427,000 cars in 2024, while the shares of the company listed in Shanghai increased by 120 %.

AITO, through the famous M9 SUV, became a brand for the best -selling cars in China last year in the category of 500,000 yuan and above, although the car that is launched only at the end of 2023. The delivery of the spacious model, which is the Huawei operating system of its kind, was of its kind of separation, and according to a local data stage, and according to, there was a group of single flowers, According to a stage dedicated to a stage, according to what he said, both, for a stage for a stage, and according to Biang, “periods”. Thinkercar car consultations.

EV starts in M9 from 509,800 yuan.

“The pioneering models of iTo are” reshaping the luxury car market in China. ” “Aito’s success today is thanks to market recognition and customer preferences.” Outside M9, the latest Aito Premium is the M8, a slightly smaller sporting car that was launched earlier this year.

The luxurious China sector was seen as the last segment of the relatively insulated car market from EV, which left foreign car makers on the market such as Volkswagen AG and General Motors Co. They are struggling to catch up. It is often believed that the latest EV manufacturers who have zero rates have not been able to match the status of the brand they provided. Aito has proven this error, and showed how luxurious tastes turn to Chinese consumers.

It is also a testament to the success of Huawei and Xiaomi Corp smart phone makers. When the couple began independently, to talk about entering the EV market about four years ago, they faced a great deal of doubt. Xiaomi sales were affected by a fatal breakdown that includes one of its cars in late March, but though, the SU7 sedan still sees the health demand.

A media briefing in 2022, Zhang said that many have questioned that the serials, which reach this point mainly designed from the cheap mini -van, and Wahwiwi, who had not made cars before, can manufacture luxurious marquee.

Cyris’s success faces some challenges. The luxury car market in China witnessed a 23 % decrease in 2024, and Thinkercar data, which is affected by the country’s economic slowdown and consumer weakness.

There is also a continuous price war. The price of stickers has been reduced to most of the 2025 updates from M9 by 10,000 yuan and 20,000 yuan and Aito began to succeed. In January and February, Mercedes provided 22,160 cars and BMW, 18,130, to overcome Aito in 17,190 units, according to Thinkercar. The total sales of Cyris also decreased in the first quarter, and decreased by 42 %.

There is a unique obstacle on Ceres in its association with Huawei.

The technology giant creates similar software deals in the car with other manufacturers. Ev Ventures as Luxeed with Chery Automobile Co. Stelaato, with Baic Motor Corp. , Which also targets the high -end market. This led to fears about homogeneity and erosion of human meat. Even some European competitors in Ceres, such as BMW, collaborated with Huawei to offer smart features in their cars.

Richard Yu, who oversees the consumer business group in Huawei, saying that the Aito Premium brand has a set of setbacks in her short life.

Yu said in the launch of a product last September: “It is a hard work every time we build a brand, especially luxury brands,” said in the launch of a product last September. “But we will not surrender and we will continue to continue,” he said, adding that Huawei is determined to achieve success from every brand of cars that he launches with partners, not just Aito.

This story was originally shown on Fortune.com

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2025-05-19 06:36:00