Dongfeng Motor sales break 1.05 mln units in Jan-Oct

Shanghai November 3 (Gasgoo.com) Dongfeng Motor Co., Ltd. announced in Beijing on November 1 that sales from January to October rose 41% from a year earlier to over 1.05 million vehicles, two years ahead of the company's 1 million sales target, the Beijing Times reported Wednesday.

The company has thus raised its 2012 sales target by 50% to 1.5 million vehicles, and plans to launch more than ten new models, including over seven passenger models, in the domestic market in the next two years.

Nakamura Kimiyasu, CEO of Dongfeng Motor said on the same day that the company is expected to achieve annual sales target of 1.2 million units for 2010 based on current sales performance.

Aiming to become the top passenger vehicle maker in the Chinese market, Dongfeng Motor said in its 2008-2012 plan released in 2008 that the company would boost vehicle sales 1 million units, generating operating revenue of 100 billion yuan ($15.0 billion) by 2012.

As of October 31, Dongfeng's commercial vehicle unit reported sales of 250,000 units; Dongfeng Nissan Passenger Vehicle Company, Nissan's local partner in China, saw sales exceed 550,000 units; sales of Dongfeng Automobile Co., Ltd. (600006) surpassed 240,00 units, with 76,000 units attributable to Zhengzhou Nissan, Nissan's another local partner in the country.

Dongfeng Motor Corporation and Nissan Motors jointly founded Dongfeng Motor Co., Ltd. in 2003. The Chinese automaker will put seven of its self-developed passenger models on the market during 2011-2012, and meanwhile the Japanese automaker will launch five light commercial models in China, sources said.