Summary: 2011 sales target completion rates for major manufacturers

Gasgoo.com (Shanghai) - With the majority of annual sales performance reports having been released, it is evident that 2011 was not a good one for the automobile industry. Most manufacturers were unable to achieve their yearly sales goals, and of the few that did, all were joint ventures.

The only manufacturers who managed to meet or exceed their targets were Brilliance BMW, Shanghai General Motors, Dongfeng Nissan, FAW Volkswagen, Dongfeng Yueda Kia and SAIC-GM-Wuling (not listed). A good number of manufacturers managed to fulfill at least 90 percent of their targets: Beijing Hyundai, Guangqi Toyota, Great Wall, Shanghai Volkswagen, Beijing Benz, FAW Toyota, Changan Suzuki, Dongfeng PSA and Dongfeng Honda. The remaining 14 manufacturers managed to complete less than 90 percent of their planned goals.

Brilliance BMW, which sold nearly 70,000 vehicles in 2010, saw its sales grow 55.5 percent last year. The joint venture exceeded its sales target by 8.7 percent, higher than any other manufacturer listed. 

Its most direct competitor, Beijing Benz, completed 96.9 percent of its 2011 sales target, 57.0 percent higher than the amount sold the previous year. Meanwhile, Daimler's other joint venture, Fujian Daimler, placed at the bottom of the charts, having sold 10,700 vehicles and completing only 53.7 percent of its sales target. That amount is still 19.4 percent higher than the amount the JV sold in 2010.

Two of 2011's best performing joint ventures, Shanghai GM and FAW-VW, completed 107.1 percent and 103.5 percent of their sales targets, respectively. The two JVs respectively sold a total of 1.23 million and 1.03 million vehicles last year. Shanghai VW, however, fell short of its sales target by 34,200 vehicles. 

GM's other JV, SAIC-GM-Wuling, also completed its 2011 sales target of 1.3 million vehicles.

Of the Japanese manufacturers, Nissan performed the strongest, with the Dongfeng Nissan joint venture managing to exceed its target by 36,600 vehicles, with a total of 808,600 vehicles sold. It was followed by Toyota, whose JVs with GAC and FAW managed to complete 97.9 percent and 96.4 percent of their sales goals, respectively. Additionally, Toyota China recently announced that, after adding sales from Hong Kong and Macau, it was only 5,000 vehicles short of its ultimate sales target.

Honda's performance was considerably weaker, with JVs Dongfeng Honda and Guangqi Honda managing to complete 90.6 percent and 82 percent of their amended sales targets, respectively. Following the earthquake in Japan last March and the ensuing auto parts shortage, the two joint ventures revised their sales targets in the middle of the year from 282,000 and 442,000 vehicles to 246,000 and 386,000 vehicles. 

Mazda's sales fell last year, with JVs Changan Mazda and FAW Mazda managing to complete only 76.7 percent of their combined sales targets.

Dongfeng Yueda Kia was the only remaining joint venture who managed to complete its 2011 sales target, with its overall sales increasing 29.9 percent from the previous year. Meanwhile, fellow joint venture Beijing Hyundai fell 10,200 vehicles short of its sales target.

When compared with joint ventures, domestic Chinese manufacturers' performance was relatively poor. Only Great Wall managed to complete over 90 percent of its original sales target, with its overall sales totaling 486,800 vehicles. Geely managed to complete 88.3 percent of its sales target, followed by SAIC, FAW Tianjin and Chery. The three manufacturers completed 84.4 percent, 84.3 percent and 80.4 percent of their targets, respectively.