SAIC-GM-Wuling to sell 700,000 vehicles in 2009

Shanghai, January 8 (Gasgoo.com) SAIC-GM-Wuling Auto Co., Ltd., GM's mini-commercial vehicle joint venture in China, has set its ambitious plan for higher sales growth in 2009 following its success in 2008, said xinhuanet.com today.

Last year, domestic sales of SAIC-GM-Wuling rose 17.9% to 647,296 units, keeping the company atop China’s mini-CV segment for the third consecutive year, with 45% market share. To build on its sales success, the joint venture has drawn up its New Year Resolutions: to sell 700,000 vehicles in 2009.

An industry analyst said that the 2009 sales target of SAIC-GM-Wuling was very practical, because the market demand for mini vehicles is less affected by the financial crisis than that of the passenger vehicles, as evidenced by the sales fall (down 7.03% to 445,709 units) of its sister venture Shanghai GM in 2008.

On the other hand, SAIC-GM-Wuling has greatly improved its technology, sales networks and marketing promotion in recent years, such as its development and production of low-emission engines, and its expansion to the tier-2 and tier-3 markets, all of which have paved the way for its sales growth in 2009 and beyond.

Currently, the Liuzhou and Qingdao manufacturing bases of SAIC-GM-Wuling have a combined annual production capacity of 900,000 vehicles and an annual output of 700,000 engines. The venture has started to equip its Chevrolet Spark with homebred engines to further cut cost and boost sales.