XI’AN, Shaanxi – Shaanxi Fast Group, China’s largest auto transmission manufacturer, sold more than 92,000 transmissions in January, with sales revenues of ¥1.29 billion ($195 million), according to the latest data released by the company.
Sales volume and revenues, as well as other key major operational indicators, reached all-time monthly records.
The company expects that business performance this year will be better than last year, as it has already received orders for more than a quarter million transmissions to be delivered in the first quarter alone. Total sales volume and revenue targets for 2011 have been set at 1 million units and ¥14 billion respectively.
Last year, Shaanxi Fast Group raked in more than ¥12.62 billion in sales revenues and sold 853,000 heavy-duty truck transmissions, accounting for over 85 percent of the market of 1.02 million heavy-duty trucks.
The company aims to double annual sales of transmissions to 2 million units in 2015 from this year’s level and achieve sales revenues of over ¥20 billion by then.