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Saturday 24 January 2009
Dongfeng targets 6pc growth in vehicle sales
Dongfeng Motor Corp, the state-owned parent of Dongfeng Motor Group, has set a lower target for vehicle sales growth of 6.06 per cent this year, compared with the 16.12 per cent expansion last year, as a slowing economy crimps demand.
Dongfeng Motor Corp, the state-owned parent of Dongfeng Motor Group, has set a lower target for vehicle sales growth of 6.06 per cent this year, compared with the 16.12 per cent expansion last year, as a slowing economy crimps demand.
The Hong Kong-listed carmaker, the China partner of Honda Motor, Nissan Motor and PSA Peugeot-Citroen, aims to sell 1.4 million vehicles this year, against 1.32 million last year, the Shanghai Securities News said, citing Dongfeng Motor Corp general manager Xu Ping.
The turnover target for this year is more than 200 billion yuan (HK$226.98 billion), up from 196.9 billion yuan last year, the paper said.
Some smaller Chinese carmakers, such as pickup truck maker Great Wall Motor and Geely Automobile Holdings, which makes mostly compact cars, have set more aggressive growth targets, banking in part on policy support to boost demand for pickup trucks and small cars.
Great Wall, which also makes sport utility vehicles and compact cars, was aiming for a nearly 70 per cent jump in vehicle sales this year, a senior company executive told Reuters on Wednesday. Geely said earlier this month it was aiming for a 25 per cent rise in car sales this year.
Car sales growth on the mainland, the world’s second-largest vehicle market, slowed to a single-digit rate last year for the first time in at least 10 years.
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Dongfeng targets 6pc growth in vehicle sales
Reuters in Shanghai
23 January 2009
Dongfeng Motor Corp, the state-owned parent of Dongfeng Motor Group, has set a lower target for vehicle sales growth of 6.06 per cent this year, compared with the 16.12 per cent expansion last year, as a slowing economy crimps demand.
The Hong Kong-listed carmaker, the China partner of Honda Motor, Nissan Motor and PSA Peugeot-Citroen, aims to sell 1.4 million vehicles this year, against 1.32 million last year, the Shanghai Securities News said, citing Dongfeng Motor Corp general manager Xu Ping.
The turnover target for this year is more than 200 billion yuan (HK$226.98 billion), up from 196.9 billion yuan last year, the paper said.
Some smaller Chinese carmakers, such as pickup truck maker Great Wall Motor and Geely Automobile Holdings, which makes mostly compact cars, have set more aggressive growth targets, banking in part on policy support to boost demand for pickup trucks and small cars.
Great Wall, which also makes sport utility vehicles and compact cars, was aiming for a nearly 70 per cent jump in vehicle sales this year, a senior company executive told Reuters on Wednesday. Geely said earlier this month it was aiming for a 25 per cent rise in car sales this year.
Car sales growth on the mainland, the world’s second-largest vehicle market, slowed to a single-digit rate last year for the first time in at least 10 years.
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