2011 sales target completion rates for major manufacturers

Updated: 2011-11-21 15:27

(Gasgoo.com)

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Due to the market slowdown in the first half of the year, a majority of manufacturers were unable to meet half of their annual sales targets by June. Therefore, a lot of manufacturers will be placing a great deal of importance in the latter half of the year. According to numbers collected by Gasgoo.com (Chinese), 2.98 million passenger vehicles (sedans, SUVs and minivans) were sold in the first three quarters of the year. Year-on-year sales growth over the three quarter period was similar to that of 2010 (10.3% compared to 10.1%).

2011 sales target completion rates for major manufacturers

The third quarter by itself has yet to give manufacturers the push in sales they need. Furthermore, fourth quarter predictions are universally bleak, with most forecasting even, or, like China Passenger Car Association General Secretary Rao Da, negative growth. Below, we will summarize the sales target conditions for 26 of the country's top manufacturers.

The combined sales goals for the 26 manufacturers below amount to 11.35 million vehicles, 15.9 percent higher than the 9.8 million from 2010. This is over five percent more than the 10.1 percent the industry actually grew. With the first three quarters of the year now completed, actual sales from those manufacturers totaled 7.78 million units, equivalent to 68.5 percent of that combined sales target. Only five manufacturers, Shanghai GM, Changan Ford Mazda, Brilliance BMW, Dongfeng Nissan and FAW Volkswagen, have completed 75 percent or more of their target. They sold 927,300 (80.6% of their target), 302,300 (80.6%), 77,800 (77.8%), 586,900 (76.0%) and 758,900 units (75.9%) respectively.

2011 sales target completion rates for major manufacturers

In addition to those companies, there are four others who have completed over 70 percent of their sales target: Dongfeng Honda, Changan Suzuki, Beijing Hyundai and Shanghai Volkswagen, their sales were 182,100 (74.0%), 169,900 (73.9%), 551,800 (73.6%) and 859,600 units (71.6%) respectively.

The remaining 17 manufacturers have not managed to pass the 70 percent mark. Nine of them, Dongfeng Yueda Kia, Guangqi Toyota, Great Wall, FAW Toyota, Guangqi Honda, Tianjin FAW, SAIC, Dongfeng Peugeot and Geely, had completed over 60 percent of their targets in the first nine months.

In this regard, Great Wall was the most successful of the domestic Chinese manufacturers, with its completion rate at 68.1 percent. It was followed by Tianjin FAW, SAIC and Geely, whose rates were 63.0 percent, 62.7 percent and 61.7 percent respectively.

Furthermore, Guangqi Honda and SAIC had already revised down their sales targets during the course of the year from 442,000 to 386,000 and 230,000 to 192,000 respectively.

The other eight manufacturers, Brilliance, Beijing Benz, JAC, Chery, BYD, Dongfeng, Fujian Daimler and Lotus, have not even managed to reach 60 percent. Of them, Dongfeng, Fujian Daimler and Lotus have only finished 46.2 percent, 42.1 percent and 33.7 percent, respectively.