After scrapping its higher-priced Riich marque and bus brand Rely last year, Chery announced on Feb 7 it will shut down operations at Cowin, its mid-sized sedan. Statistics from China Association of Automobile Manufacturers showed that Chery's sales dropped 12.4 percent in 2012 from the 643,000 units it sold in 2011, leading it to drop its multi-brand strategy.
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