Foton Motor lifts '09 sales target to 560,000 units
China's leading commercial-vehicle maker Beiqi Foton Motor, a subsidiary of Beijing Auto, has decided to raise its sales target for this year to 560,000 units from the previously planned 420,000 units, said China Securities Journal on July 16th.
In the first half this year, Foton Motor bucked the commercial vehicle market slump and saw its sales grow by 14.5% year on year (y/y) to 28.7 vehicles, retaining its lead in China's CV sales. The company's MP-X and Midi MPV models achieved sales growth of more than 126%, and sales of the Foton View minibus also rose by 30% in the six-month period.
China's CV market benefited little from the government's stimulus policies in the first half, during which the country's CV output and sales came to 1.572 million (up 1.64% y/y) and 1.565 million units (down 0.52% y/y) respectively. Only the truck segment saw its sustained growth.
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