Motor Vehicles and Parts News
- Great Wall Motor aims to sell 120,000 vehicles in 2007
Date: 30-Mar-2007 Sources: (Xinhua Online)
Great Wall Motor Company Limited (GWM) is hoping to sell 120,000 vehicles worldwide this year.
Company chairman Wei Jianjun said they plan to sell 80,000 vehicles in China and 40,000 overseas.
GWM will launch its first sedan this year and hopes to sell around 20,000 units.
Insiders say the costs associated with the introduction of the sedan will impact company profitability.
Last year the company fell short of its target of selling 30,000 vehicles overseas although it did report a ninety-percent growth in exports over the previous year.
Company sources said they will invest one billion yuan (about 130 million U.S. dollars), partly raised from the H-share market, to develop the production of auto parts and improve staff training. The company plans to issue 150 million H shares in 2007.
GWM is the largest privately owned automotive manufacturer in China.
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