Dongfeng CV export surges 120% y/y in Jan-Sept

Shanghai, October 16 (Gasgoo.com) Dongfeng Motor Co's commercial vehicle division said it exported 9,811 vehicles in the first nine months, representing a growth of 120 year on year, state media Xinhua reported Wednesday.

The unit said it has fulfilled its export target set for the full year of 2008 one quarter ahead of schedule. It initially targets export volume of 9,000 units for the year.

From January to September the company produced 163,552 units and sold 160,151 commercial vehicles, up 13.44% and 14.38% each. In terms of sales target, it said 85.46% of the 2008 target is already achieved.

The Dongfeng CV division is actually expanding the export ratio of commercial vehicles as of the second half year amid domestic economic downturn. Iran, Russia and Vietnam are among its most important export destinations.

The company plans to sell double its export ratio of commercial vehicles to more than 10% by 2012 from 5% in 2007 in an effort to boost of the company's overseas business. Annually 400,000 commercial vehicles are projected to be sold by that time. 

Furthermore it plans to expand its dealerships from 420 to 630 for LCVs and from 250 to 380 for medium- and heavy-duty commercial vehicles by 2012.