Dongfeng sees strong H1 sales growth of 30.59%

Shanghai, August 7 (Gasgoo.com) Dongfeng Motor Corp bucked the downturn of China's auto market in the first half of 2008 by selling as many as 724,700 vehicles, up 30.59% year on year (y/y), reported China Business News today.

From January to June, Dongfeng Motor Corp had the largest sales of vehicles in China. In the six-month period, the group sold a total of 724,700 vehicles while producing 719,100 units, up 22.4% y/y. Of the vehicles it sold, 477,900 units are passenger vehicles, up 25.26%, and 246,700 are commercial vehicles, up 42.30%, both much higher than the national sales growth rates (17% and 4% respectively).

The first-half sales achievements show that Dongfeng Motor Corp, now as the third biggest car-making group in China after SAIC and FAW, is narrowing its distance with the second largest carmaking giant FAW. In 2008, Dongfeng aims to sell 477,900 vehicles and achieve sales revenue of 180 billion yuan ($26.4 billion), with its net profit to exceed last year's.

Dongfeng Motor Corp operates many car-making joint ventures in China, including Dongfeng Peugeot-Citroen, Dongfeng Motor Co (with Nissan), Dongfeng Honda, Dongfeng Yueda Kia, Dongfeng Auto Co., Ltd (with with Cummins), Dongfeng Liuzhou and others.