SAIC Motor plans to boost annual commercial vehicle sales to about 0.5m units in five years, compared with just 150,000 in 2010.
According to Reuters, the China Securities Journal, citing SAIC vice president Xiao Guopu, said the goal to sell 400,000-500,000 commercial vehicles in 2015 could help SAIC, which is already China’s biggest maker of passenger cars, become one of the top three makers in the commercial vehicle sector.
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SAIC, which operates joint ventures with General Motors and Volkswagen, posted 5.4% growth in vehicle sales in May, the slowest monthly gain so far this year amid a slowdown in the world’s largest market.
