Dongfeng '08 sales up 16% to 1.3mln units

Shanghai, January 21 (Gasgoo.com) China's third-largest automaker Dongfeng Motor Group announced it fulfilled its 2008 operation targets, achieving sales of 1.3 million vehicles, up 16.12% year on year, sales revenue of 180 billion yuan ($26.35 billion), and profit higher than in 2007, Beijing Business Today reported.

Due to the outstanding performance of its two strong joint ventures with Japanese partners, Dongfeng Nissan and Dongfeng Honda, Dongfeng Motor attained its 2008 targets.

Data released by Dongfeng Motor showed the carmaker produced 1.32 million vehicles and sold 1.32 million units in 2008, up 14.34% year on year (y/y) and 16.12% y/y respectively.

The carmaker posted a significant sales growth, 9.42% higher than the industry average, ranking first among the top ten Chinese automakers by sales growth in 2008.

Its sales of passenger vehicles hit 943,600 units, up 18.08% y/y. Sales of commercial vehicles increased by 11.48% to 377,000 units. The carmaker expected to achieve sales revenue of 190 billion yuan for 2008, up 15% y/y. It gained 14.08% share in China's auto market, up 1.2% y/y.