7 carmakers finish half annual sales target in H1

Shanghai, August 7 (Gasgoo.com) In the first half of this year, only seven Chinese carmakers achieved half of their annual sales targets for 2008. They are FAW Mazda, Shanghai VW, FAW VW, Dongfeng Honda, FAW Xiali, Geely Auto, and Chery Auto, reported Shanghai Securities News today.

The data from the China Passenger Car Association show that the majority of the country's automakers did not finish half of this year's sales goals in the first six months. There were only seven carmakers in China that achieved half of their sales targets for 2008 in that period. FAW Mazda finished 57.7%, Shanghai VW 54.6%, FAW VW 50.3%, Dongfeng Honda 52.7%, FAW Xiali 50%, Geely Auto 67.3%, and Chery Auto 69%.

Earlier report said that the first half output and sales of China's auto industry both grew by 15% year on year, but the sales growth slowed down considerably compared with the 22% rise of the same period of last year.