Chery expects to sell 700,000 vehicles this year
Chery Automobile Co. aims to sell 700,000 vehicles this year after reaching 68 percent of its sales goal in the first nine months.
In September, the state-owned automaker sold 70,300 vehicles, up 37 percent from a year earlier, the company said in a statement. The figure brings Chery's total sales through September to 475,300 units.
In addition to robust domestic sales, the company's overseas sales have fueled growth.
In the first nine months, Chery exported 67,900 vehicles, and it aims to export 100,000 units for the full year.
The company also is preparing to expand production overseas. Chery plans to build a $400 million (2.7 billion) assembly plant in Sao Paulo, Brazil.
Headquartered in Wuhu in east China's Anhui province, Chery is one of China's leading passenger vehicle makers. The carmaker, which is owned by Wuhu's local government, began producing vehicles in 1999.
