Changfeng to sell 280,000 cars annually by 2010

Shanghai, November 24 (Gasgoo.com) Changfeng Motor aims to sell 280,000 vehicles annually by 2010, the Chinese SUV giant's CEO said at the ongoing Guangzhou auto show to local newspaper Guangzhou Daily.

At the 2008 Guangzhou auto show that opened on Nov. 18, Changfeng Motor has unveiled its 2009 Feiteng, Leopard (Liebao) CS6, Leopard CS7, Changfeng Kylin (Qi Ling) and other all-new models. Chen Zhengchu, president of Changfeng Motor, told reporters at the auto event that Changfeng has transformed its business from military SUV to civilian SUV making and has expanded into sedan market.

By 2010, Changfeng Motor will sell 280,000 vehicles in the sedan, SUV and pickup market segments, said Chen, adding that Changfeng Motor will launch two new models in each of the coming few years to reach that sales goal. Of the 280,000 sales target, there will be 100,000 sedans, 100,000 pickups, and 80,000 SUVs.

At the 2008 Beijing auto show back in April, Changfeng Motor revealed its global strategy that starts with its foray into the U.S. market. However, Changfeng's landing on American soil is delayed by the financial crisis. It will be unpractical to enter the troubled U.S. auto market at this moment and even early next year.

Still, Changfeng Motor has found its dealers in the United States, where the initial preparation is finished for the Chinese SUV maker's entry. Amid the market slump, Changfeng has been seen steady growth this year and is optimistic about its market prospects at home and abroad in 2009.