Most carmakers unable to hit year's sales target

Shanghai, December 17 (Gasgoo.com) The persistent market slump has forced China’s automakers to slash their previously set sales targets, said sina.com today. Except a few auto companies, such as Dongfeng Honda and Dongfeng Nissan, most automakers in China are unable to reach their output and sales goals by the end of the year.

The latest company to cut the sales target is Dongfeng Peugeot-Citroen Automobile, who has just reduced its sales goal of this year from 280,000 vehicles to 200,000 units, with the Dongfeng Peugeot and Dongfeng Citroen brands each have their targets cut by 40,000 units to 110,000 units and 90,000 units respectively. In the first nine months, Dongfeng Peugeot-Citroen sold only 140,900 vehicles, down 4.6% year on year and just half of this year's goal.

Before Dongfeng Peugeot-Citroen, the first automaker to cut this year’s sales goal is Changna Ford Mazda, who lowered its target by 50% from 120,000 units to 50,000 units. And then Dongfeng Yueda Kia, which only reached half of the year's goal in the first three quarters, cut its target from 200,000 vehicles to 160,000 units. Shanghai GM has cut its Chevrolet brand' sales target by 25% and FAW VW has also slashed its Magotan sales goal from 90,000 units to 70,000 units.

These carmakers hope to prevent a price war near the end of the year by scaling down the sales targets and easing the pressures of their dealers. The latest official data show that the top 10 automakers in Jan-Nov sales are unable to fulfill their original sales targets of the year.

From January to November, FAW VW sold 467,298 of its 600,000-unit target of the year, Shanghai VW sold 450,000 of its 590,000-unit target, Shanghai GM sold 358,236 of its 600,000-unit target, and Beijing Hyundai sold 227,792 of its 380,000-units target.

Sales miracles will not come to all of these automakers in the final month of December.