Automotive News Europe, 23rd February, 2011
SAIC Motor Corp. aims to more than triple the annual sales of its proprietary MG and Roewe models to 700,000 units by 2015, a Chinese newspaper reported on Wednesday.
The target, unveiled by SAIC Motor President Chen Hong at a recent meeting with its dealers, was 100,000 units more than its previous goal, the 21st Century Business Herald said. This year, it aims to sell 230,000 of Roewe and MG cars, up 43.8 percent from the previous year, the newspaper said, citing Chen Zhixin, head of SAIC’s passenger car unit.
SAIC Motor became the owner of MG Rover’s 10,000-unit Longbridge plant in Birmingham, central England, after a merger in late 2007 with its much smaller rival, Nanjing Automobile Group. The automaker rolled out several new models subsequently, including the Roewe 550, Roewe 750 MG 7 and MG3, becoming the only Chinese brand to have made some inroads into the country’s lucrative medium-to-higher end segment that is dominated by foreign auto makers.
The Shanghai-based automaker plans to introduce three to four new passenger car models each year by 2015, including a Roewe sport utility vehicle and an all-new MG3 sedan this year, the newspaper said.
Late last year, SAIC Motor signed an MoU with the municipal government of Nanjing to invest 10 billion yuan in its production base, bolstering its capacity in the eastern Chinese city to 1 million units.
SAIC Motor also operates car manufacturing ventures with General Motors Co. and Volkswagen in China.
[Source: Automotive News Europe/Reuters]
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