FAW plans to double own-brand sales by 2015
China FAW Group Corp. said it aims to nearly double its annual vehicle sales to 5 million units by 2015.
Of the target figure, sales of its own-brand passenger and commercial vehicles will reach 2 million units by 2015, said the state-owned company.
The company's joint ventures with Volkswagen AG, Toyota Motor Corp. and General Motors Co. would generate 3 million units of sales by 2015.
Last year, FAW and its joint ventures sold 2.6 million vehicles, including 1.0 million own-brand vehicles.
FAW, which is headquartered in the northeast China city of Changchun, makes commercial vehicles under its own Jiefang and Jiabao brands. It also produces passenger vehicles under its own Red Flag, Besturn, Xiali and Senya brands.
