SAIC wants to more than triple annual sales of its MG and Roewe models to 700,000 units by 2015, according to a report in the Chinese newspaper, 21st Century Business Herald.
The business paper said the target was unveiled by SAIC President Chen Hong at a recent meeting with its dealers. It is 100,000 units higher than its previous goal for the middle of the decade.
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This year the company aims to sell 230,000 Roewe and MG cars, an increase of 43.8% from 2010, Chen Zhixin, head of SAIC’s passenger car unit, was reported as saying.
SAIC took over the old MG Rover factory close to Birningham in the English Midlands following the company’s 2007 merger with Nanjing Automobile Group.
It has since launched several new models, including the Roewe 550, Roewe 750 MG6 and MG3, to become the only Chinese brand to gain traction in China’s lucrative medium-to-high end segment, currently dominated by foreign makes.
The newspaper added that SAIC plans to roll out three to four new passenger car models each year by 2015, including a Roewe SUV and the all-new MG3 saloon later this year.
SAIC also operates car manufacturing ventures with General Motors and Volkswagen in China.
