Changan 2011 sales target confirmed: 2.4 million units

Changan Automobile set up its sales target at 2.4 million units for 2011, 9.09 percent higher than last year's 2.38 million units.

Among the 2.38 million vehicles Changan sold last year, 74.2 percent (1.76 million units) were independent-brand cars, growing year-on-year by 25.4 percent.

In order to realize the target this year and improve its corporate image, the company also decided to raise 4 billion yuan ($599 million) through issuing additional A-share stocks for investments in production line & low-emission engine upgrading as well as an R&D field. The domestic carmaker also established a new R&D center in Detroit, US, completing the strategic layout of its global R&D system.