China’s top three makers reaped the benefits of a booming domestic market in 2003 by selling more than two million vehicles, Dow Jones reported, citing the companies’ own sales figures.
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The news agency said the three groups – China FAW Group, Shanghai Automotive Industry, and Dongfeng Motor – probably accounted for nearly half of all the vehicles sold in China last year, with most of their sales stemming from joint ventures with global carmakers.
Sales of locally made cars in China rose 70% year on year in the first 11 months of 2003 to 1.73 million units, the China Association of Automobile Manufacturers reportedly said, while sales of locally made vehicles, including cars, trucks and buses, rose 31.3% year on year to 3.92 million units.
The association said the full-year data wouldn’t be available for at least another week, Dow Jones noted.
The report said China FAW Group, which maintained its position as the country’s leading car maker in terms of sales, sold 902,000 units in 2003, up 55% from 580,000 in 2002. An FAW spokesman told Dow Jones total revenue last year was 120 billion yuan, up from CNY84 billion in 2002, and added the group aimed to sell more than a million vehicles this year.
FAW’s main foreign partners are Volkswagen, which is by far the dominant player in China’s car market, and Toyota, Dow Jones added.
Shanghai Automotive Industry reportedly said it sold more than 800,000 vehicles in 2003, but didn’t provide a comparison with 2002 – it also reportedly said its sales revenue reached CNY185 billion last year, making it China’s biggest carmaker in revenue terms.
According to Dow Jones, the firm’s two main partners are Volkswagenand General Motors. It reportedly said its joint venture with Volkswagen sold 396,000 units last year while its joint venture with GM sold 201,000 units. Another joint venture, SAIC-GM-Wuling Automobile reportedly sold 180,000 minivans in 2003.
Dongfeng Motor president, Miao Wei told Dow Jones his company sold 469,000 units in 2003, up 12.6% year on year, while its car sales rose 60.04% year on year to 215,000 units.
Dongfeng produced 473,000 vehicles in 2003, up 12.75% year on year, including 219, 000 passenger cars, up 65.54% year on year, Miao reportedly added.
He also told the news agency Dongfeng aimed to sell more than 600,000 vehicles this year, with car sales accounting for more than half the total. Dongfeng’s major partners are Nissan Motor, Honda, PSA Peugeot Citroen and Kia.
