Sinotruk parent sees higher '08 truck sales -paper

The state parent of Chinese heavy-duty truck maker Sinotruk aims to increase its vehicle sales by as much as 35 percent next year, state media said on Friday.

China National Heavy Duty Truck Co has set a target to sell 125,000 to 135,000 heavy trucks in 2008, compared with more than 100,000 units in 2007, the China Securities Journal said, citing the company's chairman Ma Chunji.

Overseas sales are targeted at 20,000 to 25,000 units next year, up from more than 10,000 units this year, Ma was quoted as saying. The export target was slightly below the 30,000 units reported by the official Xinhua news agency earlier in the month.

Sinotruk, which controls its parent's major vehicle assets, has set up a 50-50 venture with Russian automobile maker Zavod Imeni Lihacheva, the Xinhua report said.

The venture will assemble Sinotruk's HOWO heavy trucks in Russia from the middle of next year, it added. Sinotruk listed in Hong Kong in late November, raising $1.2 billion.

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