Great Wall Motor misses 2017 sales target

SHIJIAZHUANG - Chinese automaker Great Wall Motor Co Ltd sold 1.07 million vehicles in 2017, missing its sales target of 1.25 million units for the year.

Sales fell 0.4 percent year-on-year after a 16.6-percent decline in December, the carmaker said in a statement to the Shanghai Stock Exchange Tuesday night.

Sport utility vehicles (SUVs) accounted for about 87.7 percent of the total sales with 938,282 units.

The company set its 2018 sales target at 1.16 million units, representing an 8-percent annual increase.

Shares of Great Wall Motor closed the morning trade 4.77 percent lower in Shanghai Wednesday.