Chery Group CEO: "Approximately 90% of Chinese car manufacturers are operating at a loss."

According to CarExpert, Australian media outlets have questioned the number of Chinese car brands that can survive the current fierce competition, as well as whether Australian consumers can trust that new brands from China will continue to exist in the next 5-10 years.

Zhang Guibing, Chairman of Chery International, responded: "Most Chinese automakers are listed on the stock exchange and publicly disclose their financial reports. Looking at those reports, I think the vast majority of them, perhaps as many as 90%, are operating at a loss."

"There are too many car manufacturers now, and I'm sure many of them will disappear in the future," he told the media.