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Half Chinese automakers fail to meet sales target
Shanghai. January 15 (Gasgoo.com) – Though China’s automobile industry has experienced a spectacular growth over the past year, however, about a half out of China’s top ten automakers, including joint venture automakers, have failed to meet their sales target for 2007.
Beijing Hyundai is the biggest underachiever in Chinese market in 2007. The automaker originally planned to sell 310,000 vehicles in 2007; however in September it decided to cut 500,000 from the original target.
"We have decided to lower our sales target from 310,000 to 260,000 this year," Mr. Lu Zaiwan, General Manager of Beijing Hyundai, told Beijing News. He said the cut was resulted from more intensive competitions from rival car makers as well as a lack of new models from Hyundai.
In fact, Beijing Hyundai has sold 231,000 vehicles in 2007, down 17.46 percent from one year earlier, and much lower than the revised target of 280,000 vehicles.
Besides Hyundai, Geely sold 217,700 vehicles, a significant jump of 62 percent from one year earlier, but a big gap from its 300,000 target for 2007. Dongfeng PSA and Tianjin-FAW have also failed to meet their 2007 target.
The table below shows the passenger-vehicle makers that failed to meet their 2007 target.
|
Automaker
|
2007 Target
|
2007 Sales
|
2006 Sales
|
Y-o-Y change
|
|
Chery
|
393,000
|
381,200
|
305,000
|
24.8 percent
|
|
Guangzhou Honda
|
310,000
|
295,300
|
260,000
|
13.58 percent
|
|
FAW-Toyota
|
300,000
|
281,200
|
220,000
|
27.82 percent
|
|
Dongfeng Nissan
|
300,000
|
271,900
|
203,000
|
33.94 percent
|
|
Beijing Hyundai
|
280,000
|
231,100
|
280,000
|
-17.46 percent
|
|
Geely
|
300,000
|
217,700
|
205,000
|
62.0 percent
|
|
Dongfeng PSA
|
260,000
|
207,100
|
200,000
|
3.55 percent
|
|
Tianjin-FAW
|
200,000
|
172,400
|
196,800
|
-13.4 percent
|
|
FAW-Haima
|
150,000
|
1300,000
|
80,000
|
62.5 percent
|
Source: China Association of Automobile Manufacturers
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