Beijing Auto aims to earn $14.7 bln in '09 sales

Shanghai, February 10 (Gasgoo.com) Beijing Automotive Industry Holding Company has announced that it aims to achieve 100 billion yuan ($14.7 billion) in sales revenue this year, up 34.3% from 2008, said Beijing Times today. This ambititious target can undoubtedly inject much confidence into the Chinese auto market.

The top management of Beijing Auto seem to be sure of generating more than 100 billion yuan in this year's auto sales: both the central government has released a series of auto industry incentives and Beijing municipality will also issue its local policies to support the auto market, which may see a double-digit growth this year.

If the sales of Beijing auto grow 10% in 2009, the sales revenu will reach 83 billion yuan; if all the "yellow-labeled" polluting vehicles are replaced by cleaner new ones this year, about 5-billion-yuan will be generated and added to the sales revenue. The restructuring of the company's product lineup will also create 10 billion yuan.   

In addition, the auto-parts projects, auto services and others are also expected to generate 3 billion yuan for Beijing Auto.