Beijing Automobile Works set 2009 sales targets

Beijing Automobile Works'target sales will be 1.13 million units in 2009, an increase of 44.8 percent and 350,000 more units than last year, with an expectation of 110 billion yuan in sales from its stable of car brands.

Beijing Hyundai is expected to sell 450,000 units compared with the previous plan of 380,000 units in the first half of this year, and Foton adjusts its sales plan from 420,000 to 560,000 units. Beijing Benz and other brands plan to sell 120,000 units.

To achieve this goal, Beijing Automobile Works will focus on 10 projects, according to Xu Heyi, the board chairman. Beijing Hyundai's second factory will be completed in 2010 to produce 600,000 units annually. With an investment of 3.5 billion yuan, construction of the factory to produce the company's own brand of passenger vehicles started in the first half of 2009 and will be put into use in March next year.

Sales of vehicles from Beijing Automobile Works are expected to reach 1,500,000 units in 2010 and 2,000,000 units in 2011, with a sales income of 150 billion yuan and 200 billion yuan respectively, according to Xu. The company made 75 billion yuan selling 780,000 units in 2008.
 

Agencies and Wang Lei contributed to this story