Great Wall Motor targets 23% sales growth in 2012

Updated: 2012-01-16 15:47


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Great Wall Motor targets 23% sales growth in 2012

Great Wall Motor Co Ltd, China's top manufacturer of sport utility vehicles and pick-up trucks, aims to deliver 23.3 percent more vehicles in 2012 from last year.

Great Wall said it aimed to sell 600,000 vehicles this year. The total last year was 486,800, according to the China Association of Automobile Manufacturers.

Its export target for this year is 100,000 vehicles, up 17.6 percent.

Great Wall said earlier that its 2011 net profit rose a market-beating 29 percent, as demand picked up.

The company made a net profit of 3.47 billion yuan ($560 million), higher than the 2.7 billion yuan it recorded in 2010 and better than market expectations for 3.3 billion yuan, according to Thomson Reuters I/B/E/S.

Great Wall Motor, which went public in September 2011, aimed to sell 500,000 vehicles last year.