Shares in Geely Automobile Holdings rose more than 7% to a record high on Monday after the Chinese carmaker said it planned to sell 400,000 vehicles in 2010, up by a third from 2009.

The stock rose to a record HK$4.37, up 7.11%, before easing slightly to HK$4.35 at noon, Reuters reported.

The company also said it planned to boost capital spending by up to 43% to CNY1bn initially in 2010, and will continue to seek acquisition opportunities, with an interest in projects, including parts and engines.

China sales pass record 12m

Auto market intelligence
from just-auto

• Auto component fitment forecasts
• OEM & tier 1 profiles & factory finder
• Analysis of 30+ auto technologies & more