Guangzhou Auto says '10 sales to grow 15%
Guangzhou Automobile Group Co. President Zeng Qinghong said Monday he expects the company's sales volume to grow about 15% this year.
The sales volume of China's overall automobile industry will likely grow 10%-15% this year, Zeng said in a briefing during the annual session of the National People's Congress, China's legislature.
Guangzhou Automobile's sales grew 14.7% to around 600,000 units in 2009, he said.
Zeng said recent recalls by Toyota Motor Corp. (TM), with which Guangzhou Automobile has an auto-making joint venture, haven't seriously affected orders at the joint venture. Toyota has recalled more than 8 million vehicles globally.
Zeng said Guangzhou Auto, which last year bought a 29% stake in GAC Changfeng Motors Co. (600991.SH), is interested in making further acquisitions this year. He declined to be more specific.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:buyer-support@gasgoo.comSeller Service:seller-support@gasgoo.com