Sinotruk raises 2010 sales goal on strong H1 growth

Shanghai, July 21 (Gasgoo.com) China's leading heavy-duty truck manufacturer Sinotruk Group said last week that the company has raised its sales goal for this year to at least 190,000 units, based on its high sales growth in the first half, media reported.

Sinotruk said it will make great efforts to produce and sell 200,000 vehicles in 2010, a sales volume which is nearly 40% higher than its previously set target. In March the company said it expected to sell between 140,000 and 150,000 vehicles this year.

In the first six months, Sinotruk sold 115,627 heavu trucks, up 69.8% from a year earlier, generating 44.87 billion yuan ($6.6 billion) in sales revenue, up 61%. The first half output increased 67.41% year on year to 110,138 units.

In July 2009, German truck maker MAN SE agreed to buy a 25% stake in Sinotruk for EUR560 million, in a deal that gave the Chinese truck maker access to MAN's advanced engine technology and helped it become a major truck exporter.
 
Sinotruk Group's full-year sales totaled 125,000 units in 2009. China's commercial vehicle sales last year rose 28.4% to 3.31 million units.