Chinese carmakers plan major increases


Great Wall and FAW are determined to boost sales sales this year, whilst Continental will also increase Chinese employment.

Despite a general downward turn in the market, resilient Chinese carmakers plan to increase profitability by expanding into new sectors. Great Wall Motor Co is aiming to boost exports to 100,000 vehicles per year in 2012, a planned increase of 21% from 79,277 units last year. China’s largest SUV producer has set ambitious export targets at 300,000 annually by 2015, according to Xinhua news. However, Great Wall CEO Wang Fengying warned that the rising yuan could potentially dampen exports.

FAW Motors, who saw year-on-year profits plunge by around 88% last year, plans to more than double annual output to 600,000 units by 2015, up from 253,000 units last year. The company will launch nine new small cars, compact SUVs and pickups by 2015, with a third planned for release this year. As well as continuing its exports to Russia, Syria, Algeria, Mexico and Ecuador, FAW Xiali has opened its first assembly plant overseas in Ethiopia, which will build cars using semi-knockdown kits imported from China.

Continental AG is also expanding its presence across the world’s largest car market, and will add 5,000 new jobs by year end, adding to its current 16,000 strong workforce. The German company will mainly be hiring for its engineering and manufacturing departments to service its 18 production facilities across China.