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Dongfeng expects strong sales
Source: Agencies |
October 24, 2011, Monday
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MAJOR Chinese auto group Dongfeng Motor Corp expects to sell 12 to 13 percent more vehicles this year, exceeding its target and more than double the projected pace for the overall market, its general manager said this month.
"I think the market will rise no more than 5 percent for the full year, pretty much in line with what we had expected in the beginning of the year. Dongfeng wants to grow 10 percent, and we are on track to meet our goal," Zhu Fushou said on the sidelines of an industry forum in the southwestern Chinese city of Chengdu on October 13.
"We sold 12.3 percent more vehicles in the first nine months. And full-year growth will be in the 12-13 percent range," he said.
China's once-sizzling auto market slowed down significantly after the central government stripped away most of its policy incentives for the industry at the end of last year. Total sales of vehicles in China rose 5.5 percent to 1.65 million units in September.
The China Association of Automobile Manufacturers early this month cut its 2011 sales forecast, saying that deliveries are expected to grow less than 5 percent. The revised projection is less than half of the association's estimates from January for sales growth of 10 percent to 15 percent. Vehicle sales grew 32 percent in 2010.
Dongfeng is the parent of its Hong Kong listed subsidiary Dongfeng Motor Group Co, which operates vehicle manufacturing ventures with Honda Motor, Nissan Motor and PSA Peugeot Citroen.
"I think the market will rise no more than 5 percent for the full year, pretty much in line with what we had expected in the beginning of the year. Dongfeng wants to grow 10 percent, and we are on track to meet our goal," Zhu Fushou said on the sidelines of an industry forum in the southwestern Chinese city of Chengdu on October 13.
"We sold 12.3 percent more vehicles in the first nine months. And full-year growth will be in the 12-13 percent range," he said.
China's once-sizzling auto market slowed down significantly after the central government stripped away most of its policy incentives for the industry at the end of last year. Total sales of vehicles in China rose 5.5 percent to 1.65 million units in September.
The China Association of Automobile Manufacturers early this month cut its 2011 sales forecast, saying that deliveries are expected to grow less than 5 percent. The revised projection is less than half of the association's estimates from January for sales growth of 10 percent to 15 percent. Vehicle sales grew 32 percent in 2010.
Dongfeng is the parent of its Hong Kong listed subsidiary Dongfeng Motor Group Co, which operates vehicle manufacturing ventures with Honda Motor, Nissan Motor and PSA Peugeot Citroen.
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