GAC takes off to sell 3mln vehicles in 5 years

Zeng Qinghong, general manager of GAC

Guangzhou Automobile Group Co., Ltd (GAC) said at the 8th China International Automobile Exhibition in Guangzhou Monday that the company aims to sell 3 million vehicles in the next five years.

Zeng Qinghong, general manager of GAC said the company's production capacity will hit 2 million units by 2015 with sales revenue touching the mark of 40 million yuan ($6 million), 80 percent of which is to originate from complete vehicle manufacturing and 20 percent from auto parts selling.

GAC sold 730,000 units this year, up 10 percent from last year.

The company will continually expand its production capacity, and plans to sell 100,000 units of self-owned cars by October 2011.

Zeng also said that it is immature for GAC to get into the luxury car market, adding that the company will focus more on market demands rather than quantity.