Jianghuai Automobile Aims to Raise Vehicle Sales 30% This Year
By Tian Ying
March 15 (Bloomberg) — Anhui Jianghuai Automobile Group Co.,
Chinas second-biggest light-truck maker, aims to increase
vehicle sales 30 percent this year by adding new models and
making more cars.
The Hefei, Anhui province-based company is seeking sales of
280,000 vehicles, including light-trucks, multipurpose vehicles
and sedans, Chairman Zuo Yanan told reporters in Beijing today.
Jianghuai Auto, parent of Shanghai-listed Anhui Jianghuai
Automobile Co., started selling Binyue sedans last year, joining
Shanghai Automotive Co., Chinas largest carmaker, and other
rivals making own-brand sedans. Chinese consumers are buying more
cars as rising incomes enable more people to afford them.
“Sales for Binyue are taking off, and they will contribute
more in the second half, Zuo said. “We will also strengthen
our leading position in light trucks.
The automaker plans to add a new, 1.3 liter-engine car as
soon as September, and will start offering the Binyue sedan with
automatic transmission by May, Zuo said.
“Competition is really tough, and we have to move from
being a maker of price-competitive vehicles, to a maker with
high-technology content, Zuo said
The automaker is talking to domestic and overseas companies
about possible investment, aiming to conclude negotiations by the
end of 2009, Zuo said, without identifying potential investors.
The parent will decide later whether to sell shares, he said.
To contact the reporter on this story:
Tian Ying in Beijing at
ytian@bloomberg.net
