SAIC Motor releases 12th Five-Year Plan
- Source: Global Times
- [14:47 January 13 2011]
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SAIC Motor Corporation, Ltd. (SAIC Motor) released its 12th five-year company development plan on Wednesday, saying that while the company plans to double its sales volume in the next five years, it will pay more attention to expanding its overseas auto market and developing self-owned cars.
According to SAIC Motor, the sales volume of the company's self-owned and self-developed vehicles is expected to account for 40 percent of the total in the next five years, aiming to establish its own auto and auto parts development system.
An insider with SAIC Motor said that the company plans to raise its production capacity of complete vehicles to 6 million units by the end of the 12th Five-Year Plan, and to take the lead in occupying the overseas market among Chinese big automakers. It also plans to absorb 20 percent market share from China's new-energy vehicle market.
SAIC Motor has already launched self-developed models via its joint ventures during the 11th Five-Year Plan, such as Chevrolet Sail, manufactured by SAIC-GM; and Baojun, launched by SGMW, a three-shareholder joint venture, with share capital from two domestic partners - SAIC Motor Corporation Limited and Liuzhou Wuling Motors Co., Ltd. and GM China.
As a key point of SAIC Motor's draft for the next half decade, the company's overseas market expansion will primarily be reflected on three aspects: manufacturing self-owned passenger sedan MG6 and listing the company in England; launch Yuejin globally and SAIC will expand its market in India with GM.
Chen Hong, president of SAIC Motor said the Indian auto market, whose sales volume in 2009 edged on about 2 million units, is very potential, and will double by 2015, according to a company's estimate.
SAIC Motor plans to sell 4 million units of its models in 2011.
According to statistics provided by China Association of Automobile Manufacturers (CAAM), SAIC was the number one automaker in sales volume in 2010, selling 3.5 million complete vehicles, up 31.53 percent.
