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Half of top six Chinese auto groups cut sales targets for 2020

BEIJING – Three of the top six Chinese automotive groups cut their vehicle sales targets for 2020, part of their respective 13th five-year plans announced at the 2016 China Auto Forum organized by China Association of Automobile Manufacturers (CAAM) on April 26, according to media reports.

Based on actual sales data, none of the top six groups (SAIC, Dongfeng, FAW, Chang’an, BAIC and GAC) reached their sales targets for 2015 stipulated in their respective 12th five-year plans. With the exception of SAIC, which did not publish a specific sales target for 2020, three of the other groups reduced their sales targets for 2020. FAW cut its goal by one million units, Chang’an by 600,000 units and GAC by 600,000 units from their respective 2015 sales target.

BAIC is the only one among the six groups to increase its sales target by 1 million units over 2015. And Dongfeng is targeting the same goal set for 2015.

Six automotive groups’ sales targets for 2020

 

NEV Sales Target in 2020 (units)

Sales Target in 2020 (million units)

Sales Target in 2015 (million units)

Actual Sales in 2015 (million units)

SAIC

600,000

6

5.8635

Dongfeng

300,000

5

5

3.8725

FAW

4

5

2.8438

Chang’an

400,000

4.4

5

2.7765

BAIC

500,000

4.5

3.5

2.4890

GAC

2.4

3

1.3031

 

 

 

 

  

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