Great Wall Motor – which launches its pickup truck range to UK media next month – aims to sell around 19% more vehicles in 2012, helped by the launch of new models as well as a gradual increase in domestic sales.
The Hong-Kong listed company – which raised CNY3.96bn (US$620m) from an initial public offering in Shanghai in September -told Dow Jones Newswires it aims to sell 550,000 vehicles this year, up from 462,679 a year ago.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The 2012 sales target is mainly driven by the launch of new models but also increasing production capacity, chairman Wei Jian Jun said. The company intends to spend CNY4bn expanding production capacity, he added.
The company last month started SKD kit assembly in Romania at an initial rate of 4,000 a year, supplying the local market to start.
“We plan to launch five new models this year with another five in 2013,” said Wei, noting that improving exports will also boost demand for the automaker’s vehicles.
Great Wall Motor – whose product line includes sport utility vehicles and pick-up trucks – hopes to export around 100,000 vehicles in 2012 as emerging-market demand remains strong in spite of the global financial crisis, Wei added.
The company has just announced a 27% rise in 2011 net profit to CNY3.43bn and also plans to launch its first fully electric car in early 2014, according to Wei, who did not elaborate.
