Cavalry are better all around, and can be used on their own. Chariots are not the best on their own, except vs skirmishers and cavalry one on one. They shine when backed up by cavalry or infantry. Charging a couple of Chariot units through (the key is to charge through not into, then the chariots just die) the back of the enemy army formation followed by some cavalry. The chariots cause major fear and absolutely shoot to hell any formation the enemy had, making and all too sweet target for your cavalry.
I consider them essential for fighting my field battles. If noting else sacrifice them just to sow the confusion and fear. Hopefully a couple will survive to retrain!
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