Shanghai January 13 (Gasgoo.com) SAIC Motor Corp Ltd. (600104.SS) said the company's goal for the Twelfth Five-Year Guideline (2011-2015) is to double its annual sales and marketing targets, while at the same time paying more attention to its overseas business expansion and local research and development, dfdaily.com reported yesterday.
SAIC stated that from 2011 to 2015 it aims to increase its capacity to six million vehicles, with foreign business taking a leading position in the company's domestic affairs. Additionally, the company plans to increase annual capacity of own brands and localization R&D to over 40%, strengthen self-development innovation ability, form an independent system for domestic development of spare parts, as well as help increase new energy vehicles domestic market share to about 20%.
It is reported that SAIC has already begun to promote joint-venture production of own brand models, such as the Shanghai GM Chevrolet Sail and SGMW Baojun.
Moreover, international operations will also play an important focus for SAIC during the time period, with the company investing in its UK factory producing the own brand MG6 early this year. The company will also sell its Yuejin brand vehicles in the international marketplace using the Iveco label. Additionally, SAIC plans to enter the Indian market in partnership with GM.
"The Indian marketplace has a great deal of potential," said SAIC president Chen Hong. "Although total sales in 2009 were around two million vehicles, its growth rate for the next few years is very high. We expect that it will at least double by 2015." He continued saying, "Sales in India now are equivalent to Chinese sales in 2000. With regards to speed of future development, India believes that it is on part with China."
With 2011 being the opening year of the Twelfth Five-Year Guideline, SAIC hopes to break automobile sales of four million units. According to statistics from the China Automotive Industry, the company's total sales in 2010 surpassed 3.55 million vehicles, an increase of 31.53%. SAIC, having a firm hold on its position as the leading domestic automobile company, is still aiming to find its place among the world's eight leading auto companies.
