Guangzhou Automobile Group Co. President Zeng Qinghong said Monday he expects the company's sales volume to grow about 15% this year.
The sales volume of China's overall automobile industry will likely grow 10%-15% this year, Zeng said in a briefing during the annual session of the National People's Congress, China's legislature.
Guangzhou Automobile's sales grew 14.7% to around 600,000 units in 2009, he said.
Zeng said recent recalls by Toyota Motor Corp. (TM), with which Guangzhou Automobile has an auto-making joint venture, haven't seriously affected orders at the joint venture. Toyota has recalled more than 8 million vehicles globally.
Zeng said Guangzhou Auto, which last year bought a 29% stake in GAC Changfeng Motors Co. (600991.SH), is interested in making further acquisitions this year. He declined to be more specific.
